Power Integrations, Inc. (NASDAQ:POWI) Given a $84.00 Price Target by Drexel Hamilton Analysts
Drexel Hamilton set a $84.00 price target on Power Integrations, Inc. (NASDAQ:POWI) in a research report released on Friday, MarketBeat.com reports. The brokerage currently has a buy rating on the semiconductor company’s stock.
Several other equities analysts have also commented on the company. Deutsche Bank AG lowered Power Integrations from a buy rating to a hold rating and set a $75.00 target price for the company. in a report on Tuesday, July 25th. BidaskClub raised Power Integrations from a buy rating to a strong-buy rating in a report on Sunday, July 16th. Stifel Nicolaus reaffirmed a buy rating and set a $82.00 target price (up from $75.00) on shares of Power Integrations in a report on Friday, June 30th. Zacks Investment Research lowered Power Integrations from a buy rating to a hold rating in a report on Thursday, June 29th. Finally, Sidoti raised Power Integrations from a neutral rating to a buy rating in a report on Monday, May 15th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Power Integrations presently has a consensus rating of Buy and a consensus target price of $78.50.
Shares of Power Integrations (NASDAQ:POWI) opened at 70.65 on Friday. The firm’s 50-day moving average price is $72.76 and its 200-day moving average price is $67.78. The firm has a market capitalization of $2.10 billion, a PE ratio of 39.27 and a beta of 1.23. Power Integrations has a 52-week low of $53.50 and a 52-week high of $82.80.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, July 27th. The semiconductor company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The company had revenue of $107.56 million during the quarter, compared to analyst estimates of $107.85 million. Power Integrations had a return on equity of 12.08% and a net margin of 13.37%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 earnings per share. On average, equities analysts predict that Power Integrations will post $2.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Tuesday, August 29th. Power Integrations’s dividend payout ratio (DPR) is 29.95%.
In other Power Integrations news, Director Nicholas Brathwaite sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $80.00, for a total value of $320,000.00. Following the completion of the sale, the director now directly owns 28,109 shares in the company, valued at $2,248,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Mh Matthews sold 776 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $67.04, for a total value of $52,023.04. Following the completion of the sale, the vice president now owns 44,405 shares of the company’s stock, valued at $2,976,911.20. The disclosure for this sale can be found here. Insiders sold 133,097 shares of company stock valued at $10,163,746 over the last 90 days. 4.30% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Huntington National Bank increased its stake in Power Integrations by 22.8% in the second quarter. Huntington National Bank now owns 1,504 shares of the semiconductor company’s stock worth $110,000 after buying an additional 279 shares during the period. Victory Capital Management Inc. increased its stake in shares of Power Integrations by 22.7% in the first quarter. Victory Capital Management Inc. now owns 2,210 shares of the semiconductor company’s stock worth $145,000 after buying an additional 409 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Power Integrations during the first quarter worth approximately $156,000. PEAK6 Investments L.P. bought a new stake in shares of Power Integrations during the first quarter worth approximately $212,000. Finally, State of Alaska Department of Revenue increased its stake in shares of Power Integrations by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 3,250 shares of the semiconductor company’s stock worth $213,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 95.92% 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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