Power Integrations (POWI) Coverage Initiated at Susquehanna Bancshares
Equities researchers at Susquehanna Bancshares assumed coverage on shares of Power Integrations (NASDAQ:POWI) in a research report issued on Wednesday. The brokerage set a “neutral” rating and a $80.00 price target on the semiconductor company’s stock. Susquehanna Bancshares’ target price would indicate a potential upside of 10.73% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other equities analysts have also commented on POWI. Stifel Nicolaus reissued a “buy” rating and set a $85.00 price target on shares of Power Integrations in a research note on Sunday, September 3rd. Zacks Investment Research raised Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Drexel Hamilton reissued a “buy” rating and set a $84.00 price target on shares of Power Integrations in a research note on Friday, October 27th. Finally, BidaskClub lowered Power Integrations from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $82.80.
Power Integrations (NASDAQ POWI) opened at $72.25 on Wednesday. The firm has a market capitalization of $2,194.59, a PE ratio of 35.17 and a beta of 1.26. Power Integrations has a one year low of $61.44 and a one year high of $86.60.
Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $111.30 million during the quarter, compared to analyst estimates of $111.82 million. Power Integrations had a return on equity of 11.95% and a net margin of 13.69%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 earnings per share. equities analysts predict that Power Integrations will post 2.06 earnings per share for the current fiscal year.
In related news, VP Ben Sutherland sold 500 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $79.58, for a total transaction of $39,790.00. Following the completion of the transaction, the vice president now directly owns 40,965 shares of the company’s stock, valued at $3,259,994.70. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Balu Balakrishnan sold 51,350 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $80.71, for a total value of $4,144,458.50. Following the completion of the sale, the chief executive officer now directly owns 268,226 shares of the company’s stock, valued at $21,648,520.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,089 shares of company stock valued at $5,077,253. 4.30% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Neuberger Berman Group LLC lifted its stake in shares of Power Integrations by 4.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,925,039 shares of the semiconductor company’s stock valued at $214,113,000 after purchasing an additional 128,790 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Power Integrations by 6.9% in the 3rd quarter. California Public Employees Retirement System now owns 81,554 shares of the semiconductor company’s stock valued at $5,970,000 after purchasing an additional 5,254 shares during the last quarter. Granahan Investment Management Inc. MA lifted its stake in shares of Power Integrations by 63.5% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 96,873 shares of the semiconductor company’s stock valued at $7,091,000 after purchasing an additional 37,639 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Power Integrations in the 3rd quarter valued at approximately $205,000. Finally, Nicholas Investment Partners LP bought a new stake in shares of Power Integrations in the 3rd quarter valued at approximately $2,754,000. 97.51% of the stock is owned by institutional investors and hedge funds.
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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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