Power Integrations (NASDAQ:POWI) Upgraded to Strong-Buy at Zacks Research

Power Integrations (NASDAQ:POWI) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Power Integrations in a report on Friday, May 8th. Benchmark boosted their price objective on shares of Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Power Integrations in a research report on Friday, May 8th. Needham & Company LLC started coverage on Power Integrations in a research note on Wednesday, June 10th. They set a “buy” rating and a $90.00 target price for the company. Finally, Susquehanna lifted their target price on Power Integrations from $70.00 to $85.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Power Integrations has an average rating of “Moderate Buy” and an average target price of $76.20.

Power Integrations Stock Performance

Power Integrations stock opened at $80.27 on Tuesday. The firm has a market capitalization of $4.47 billion, a PE ratio of 267.58, a price-to-earnings-growth ratio of 3.64 and a beta of 1.57. Power Integrations has a one year low of $30.86 and a one year high of $91.18. The stock’s 50 day moving average price is $77.11 and its 200 day moving average price is $56.72.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $108.31 million during the quarter, compared to the consensus estimate of $106.75 million. Power Integrations had a net margin of 3.72% and a return on equity of 5.34%. Power Integrations’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. On average, analysts forecast that Power Integrations will post 0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Power Integrations news, VP Sunil Gupta sold 15,894 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $82.18, for a total transaction of $1,306,168.92. Following the completion of the transaction, the vice president directly owned 71,239 shares of the company’s stock, valued at $5,854,421.02. This trade represents a 18.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Balu Balakrishnan sold 124,287 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $86.44, for a total transaction of $10,743,368.28. Following the completion of the sale, the director directly owned 279,516 shares of the company’s stock, valued at $24,161,363.04. The trade was a 30.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 334,772 shares of company stock valued at $27,322,535 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Power Integrations

Hedge funds have recently bought and sold shares of the company. Snyder Capital Management L P raised its stake in Power Integrations by 148.8% during the fourth quarter. Snyder Capital Management L P now owns 2,064,707 shares of the semiconductor company’s stock valued at $73,380,000 after buying an additional 1,234,981 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Power Integrations by 1,885.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 943,365 shares of the semiconductor company’s stock worth $33,528,000 after buying an additional 895,857 shares during the last quarter. M&T Bank Corp grew its position in shares of Power Integrations by 3,635.7% in the 4th quarter. M&T Bank Corp now owns 748,555 shares of the semiconductor company’s stock worth $26,604,000 after acquiring an additional 728,517 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Power Integrations by 35.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,261,281 shares of the semiconductor company’s stock valued at $90,926,000 after acquiring an additional 595,404 shares during the last quarter. Finally, State Street Corp raised its position in shares of Power Integrations by 18.0% during the 4th quarter. State Street Corp now owns 3,400,970 shares of the semiconductor company’s stock valued at $120,870,000 after acquiring an additional 518,284 shares in the last quarter.

About Power Integrations

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.