Power Integrations (NASDAQ:POWI) Cut to “Hold” at Zacks Investment Research
According to Zacks, “Power Integrations, Inc. is a supplier of high-performance electronic components used in high-voltage power-conversion systems. Their integrated circuits and diodes enable compact, energy-efficient AC-DC power supplies for a vast range of electronic products including mobile devices, TVs, PCs, appliances, smart utility meters and LED lights. Their SCALE IGBT drivers enhance the efficiency, reliability and cost of high-power applications such as industrial motor drives, solar and wind energy systems, electric vehicles and high-voltage DC transmission. Since its introduction, Power Integrations’ EcoSmart® energy-efficiency technology has prevented billions of dollars’ worth of energy waste and millions of tons of carbon emissions. Reflecting the environmental benefits of their products, Power Integrations’ stock is a member of clean-technology stock indices sponsored by Cleantech Group LLC and Clean Edge. “
Several other research analysts also recently commented on the stock. Loop Capital reissued a hold rating and set a $76.00 price target on shares of Power Integrations in a research note on Tuesday, June 18th. BidaskClub downgraded shares of Power Integrations from a buy rating to a hold rating in a research note on Tuesday, May 21st. Finally, Northland Securities reissued a hold rating and set a $52.00 price target on shares of Power Integrations in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Power Integrations presently has an average rating of Hold and a consensus target price of $70.25.
Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.22 by $0.19. The firm had revenue of $89.19 million for the quarter, compared to the consensus estimate of $90.10 million. Power Integrations had a net margin of 15.67% and a return on equity of 10.86%. The business’s revenue was down 13.5% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. As a group, analysts expect that Power Integrations will post 1.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, May 30th. Power Integrations’s dividend payout ratio (DPR) is presently 31.78%.
In other Power Integrations news, insider Balu Balakrishnan sold 4,718 shares of Power Integrations stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $70.79, for a total transaction of $333,987.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Doug Bailey sold 1,000 shares of Power Integrations stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $65.31, for a total transaction of $65,310.00. Following the transaction, the vice president now directly owns 59,298 shares in the company, valued at $3,872,752.38. The disclosure for this sale can be found here. Insiders have sold 26,286 shares of company stock worth $2,006,147 over the last three months. Insiders own 4.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its stake in shares of Power Integrations by 1,426.5% in the first quarter. Quadrant Capital Group LLC now owns 748 shares of the semiconductor company’s stock worth $50,000 after buying an additional 699 shares during the period. Cutler Group LP increased its stake in shares of Power Integrations by 222.2% in the first quarter. Cutler Group LP now owns 1,305 shares of the semiconductor company’s stock worth $91,000 after buying an additional 900 shares during the period. ETF Managers Group LLC increased its stake in shares of Power Integrations by 10.5% in the first quarter. ETF Managers Group LLC now owns 2,103 shares of the semiconductor company’s stock worth $147,000 after buying an additional 199 shares during the period. Advisor Group Inc. increased its stake in shares of Power Integrations by 15.9% in the fourth quarter. Advisor Group Inc. now owns 3,097 shares of the semiconductor company’s stock worth $189,000 after buying an additional 426 shares during the period. Finally, MML Investors Services LLC increased its stake in shares of Power Integrations by 7.4% in the fourth quarter. MML Investors Services LLC now owns 3,525 shares of the semiconductor company’s stock worth $215,000 after buying an additional 242 shares during the period. 97.61% of the stock is currently owned by institutional investors.
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 worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, and other consumer and industrial applications, as well as light-emitting diode lighting.
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