Analysts Set Power Integrations Inc. (NASDAQ:POWI) Price Target at $61.50
Power Integrations Inc. (NASDAQ:POWI) has earned an average recommendation of “Buy” from the six analysts that are currently covering the firm. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $61.50.
POWI has been the subject of several research analyst reports. Sidoti downgraded shares of Power Integrations from a “buy” rating to a “neutral” rating in a report on Thursday, June 23rd. Deutsche Bank AG upped their price target on shares of Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “strong-buy” rating and set a $64.00 price target for the company in a report on Thursday, August 4th.
Power Integrations (NASDAQ:POWI) opened at 59.42 on Tuesday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 39.51 and a beta of 1.11. The firm’s 50-day moving average price is $57.50 and its 200 day moving average price is $51.35. Power Integrations has a 12-month low of $39.53 and a 12-month high of $59.65.
Power Integrations (NASDAQ:POWI) last released its earnings results on Thursday, July 28th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.09. Power Integrations had a return on equity of 11.64% and a net margin of 12.36%. The firm earned $97.20 million during the quarter, compared to analysts’ expectations of $91.22 million. During the same period in the prior year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis. On average, analysts expect that Power Integrations will post $2.33 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, August 31st will be issued a $0.13 dividend. The ex-dividend date is Monday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 0.88%. Power Integrations’s payout ratio is 34.44%.
In related news, insider Balu Balakrishnan sold 21,345 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $59.05, for a total value of $1,260,422.25. Following the completion of the sale, the insider now directly owns 209,345 shares in the company, valued at $12,361,822.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ben Sutherland sold 2,216 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $57.97, for a total value of $128,461.52. Following the completion of the sale, the vice president now owns 23,868 shares of the company’s stock, valued at $1,383,627.96. The disclosure for this sale can be found here. 5.70% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Power Integrations by 125.5% in the first quarter. BlackRock Inc. now owns 2,142 shares of the company’s stock worth $106,000 after buying an additional 1,192 shares during the period. Bank of Montreal Can purchased a new stake in shares of Power Integrations during the second quarter worth approximately $175,000. PineBridge Investments L.P. boosted its stake in shares of Power Integrations by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,653 shares of the company’s stock worth $183,000 after buying an additional 144 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Power Integrations by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,976 shares of the company’s stock worth $199,000 after buying an additional 482 shares during the period. Finally, Globeflex Capital L P purchased a new stake in shares of Power Integrations during the second quarter worth approximately $215,000. Institutional investors and hedge funds own 97.97% of the company’s stock.
About Power Integrations
Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs) and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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