Power Integrations (NASDAQ:POWI) Shares Up 7.4% – What’s Next?

Power Integrations, Inc. (NASDAQ:POWI) shares rose 7.4% during mid-day trading on Friday. The stock traded as high as $55.11 and last traded at $55.2990. Approximately 252,579 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 964,559 shares. The stock had previously closed at $51.50.

Wall Street Analyst Weigh In

POWI has been the topic of a number of research reports. Weiss Ratings upgraded shares of Power Integrations from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Needham & Company LLC decreased their price target on shares of Power Integrations from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Wall Street Zen raised Power Integrations from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Williams Trading set a $80.00 price objective on Power Integrations in a research report on Thursday, August 6th. Finally, Stifel Nicolaus reduced their price objective on Power Integrations from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Power Integrations currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.67.

Power Integrations Stock Up 7.7%

The business’s 50 day simple moving average is $55.10 and its 200 day simple moving average is $64.02. The company has a market capitalization of $3.10 billion, a PE ratio of 122.88 and a beta of 1.54.

Power Integrations (NASDAQ:POWI) last released its earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. Power Integrations had a net margin of 5.58% and a return on equity of 5.50%. The business had revenue of $118.94 million for the quarter, compared to the consensus estimate of $117.44 million. During the same period last year, the firm posted $0.35 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Power Integrations, Inc. will post 0.77 earnings per share for the current fiscal year.

Institutional Trading of Power Integrations

A number of hedge funds have recently modified their holdings of POWI. BlackRock Inc. acquired a new stake in shares of Power Integrations in the second quarter worth $730,559,000. William Blair Investment Management LLC acquired a new position in Power Integrations during the second quarter valued at $199,517,000. Bank of New York Mellon Corp purchased a new stake in Power Integrations in the 2nd quarter worth about $39,075,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Power Integrations in the 2nd quarter worth about $34,281,000. Finally, Bank of America Corp DE acquired a new stake in Power Integrations during the 2nd quarter worth about $31,957,000.

About Power Integrations

Power Integrations, Inc is a semiconductor company that designs and manufactures high-performance power-conversion technologies. Its products are used to convert and manage electrical power in applications such as consumer electronics, appliances, industrial equipment, communications systems, renewable-energy installations and automotive systems.

The company’s product portfolio includes integrated circuits for AC-to-DC and DC-to-DC power supplies, LED lighting drivers, power-factor-correction systems, high-voltage gate drivers and motor-drive applications.