Power Integrations’ (POWI) “Buy” Rating Reaffirmed at Stifel Nicolaus
Power Integrations Inc (NASDAQ:POWI)‘s stock had its “buy” rating restated by equities researchers at Stifel Nicolaus in a report released on Wednesday. They presently have a $85.00 price target on the semiconductor company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 15.80% from the company’s current price.
A number of other research firms have also issued reports on POWI. BidaskClub lowered Power Integrations from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Drexel Hamilton set a $84.00 price target on Power Integrations and gave the company a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded Power Integrations from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Wednesday, June 14th. Finally, Deutsche Bank AG downgraded Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Tuesday, July 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $78.50.
Shares of Power Integrations (NASDAQ POWI) opened at 73.40 on Wednesday. Power Integrations has a 12-month low of $60.67 and a 12-month high of $82.80. The company’s 50-day moving average price is $71.84 and its 200 day moving average price is $69.34. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 40.80 and a beta of 1.28.
Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. Power Integrations had a net margin of 12.92% and a return on equity of 10.35%. The company had revenue of $107.56 million during the quarter, compared to the consensus estimate of $107.85 million. During the same quarter in the prior year, the firm earned $0.61 EPS. Power Integrations’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts predict that Power Integrations will post $2.77 earnings per share for the current year.
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In other news, VP Raja Petrakian sold 2,272 shares of Power Integrations stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $68.89, for a total transaction of $156,518.08. Following the sale, the vice president now owns 30,815 shares of the company’s stock, valued at approximately $2,122,845.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Nicholas Brathwaite sold 4,000 shares of Power Integrations stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $80.00, for a total transaction of $320,000.00. Following the sale, the director now directly owns 28,109 shares in the company, valued at approximately $2,248,720. The disclosure for this sale can be found here. Insiders have sold 72,593 shares of company stock worth $5,644,357 over the last ninety days. 4.30% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan increased its stake in Power Integrations by 2.0% during the first quarter. Municipal Employees Retirement System of Michigan now owns 7,800 shares of the semiconductor company’s stock worth $513,000 after acquiring an additional 150 shares during the last quarter. SG Americas Securities LLC raised its position in Power Integrations by 181.1% in the first quarter. SG Americas Securities LLC now owns 6,662 shares of the semiconductor company’s stock valued at $438,000 after purchasing an additional 4,292 shares during the period. Schwab Charles Investment Management Inc. raised its position in Power Integrations by 15.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 142,197 shares of the semiconductor company’s stock valued at $9,350,000 after purchasing an additional 18,538 shares during the period. Renaissance Group LLC raised its position in Power Integrations by 1.1% in the second quarter. Renaissance Group LLC now owns 5,278 shares of the semiconductor company’s stock valued at $385,000 after purchasing an additional 56 shares during the period. Finally, Legal & General Group Plc raised its position in Power Integrations by 9.4% in the second quarter. Legal & General Group Plc now owns 57,673 shares of the semiconductor company’s stock valued at $4,204,000 after purchasing an additional 4,970 shares during the period. Institutional investors own 95.38% 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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