A deserializer circuit and method convert a serial bit stream into a parallel bit stream according to a parallel grouping. The deserializer and method include alternatingly demultiplexing a serial data stream into first and second bit streams. The first and second bit streams are respectively serially shifted along a first plurality of shift registers and a second plurality of shift registers. A first portion of the first bit stream in the first plurality of shift registers is selected and a second portion of the second bit stream in the second plurality of shift registers is also selected. A parallel group of data in a parallel data stream is formed from the first and second portions.