Zacks Investment Research upgraded shares of Power Integrations Inc (NASDAQ:POWI) from a hold rating to a buy rating in a research note issued to investors on Friday, May 5th. The brokerage currently has $70.00 price target on the semiconductor company’s stock.
According to Zacks, “Power Integrations, Inc. designs, develops, manufactures and markets proprietary, high-voltage, analog integrated circuits for use primarily in alternating current to direct current power conversion. The company has targeted high-volume power supply markets including: the cellular telephone market, the personal computer market, the cable and direct broadcast satellite decoder box market, and various other consumer and industrial electronics markets. “
Separately, Sidoti began coverage on Power Integrations in a report on Monday, April 17th. They set a neutral rating on the stock. Five equities research analysts have rated the stock with a buy rating, The company has an average rating of Buy and an average price target of $71.00.
Shares of Power Integrations (NASDAQ:POWI) traded down 1.21% during trading on Friday, hitting $65.30. The stock had a trading volume of 139,542 shares. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 37.53 and a beta of 1.01. The firm has a 50 day moving average price of $65.12 and a 200-day moving average price of $66.17. Power Integrations has a 52 week low of $47.00 and a 52 week high of $72.65.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Thursday, April 27th. The semiconductor company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.11. Power Integrations had a return on equity of 11.71% and a net margin of 12.36%. The business had revenue of $104.70 million during the quarter, compared to analysts’ expectations of $102.21 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, equities research analysts forecast that Power Integrations will post $2.81 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, May 31st will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, May 26th. Power Integrations’s dividend payout ratio is presently 32.10%.
In other news, VP Clifford Walker sold 17,714 shares of the stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $66.00, for a total transaction of $1,169,124.00. Following the completion of the sale, the vice president now owns 73,736 shares in the company, valued at $4,866,576. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Doug Bailey sold 2,000 shares of the stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the transaction, the vice president now directly owns 34,976 shares of the company’s stock, valued at $2,448,320. The disclosure for this sale can be found here. Insiders sold 22,666 shares of company stock worth $1,496,404 over the last quarter. 5.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan boosted its position in Power Integrations by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,800 shares of the semiconductor company’s stock valued at $492,000 after buying an additional 120 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Power Integrations by 1.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 706,852 shares of the semiconductor company’s stock worth $44,553,000 after buying an additional 9,076 shares during the period. BlackRock Group LTD boosted its position in shares of Power Integrations by 7.2% in the third quarter. BlackRock Group LTD now owns 51,608 shares of the semiconductor company’s stock worth $3,253,000 after buying an additional 3,453 shares during the period. Rhumbline Advisers boosted its position in shares of Power Integrations by 6.0% in the third quarter. Rhumbline Advisers now owns 39,611 shares of the semiconductor company’s stock worth $2,497,000 after buying an additional 2,255 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Power Integrations by 4.6% in the third quarter. TIAA CREF Investment Management LLC now owns 129,987 shares of the semiconductor company’s stock worth $8,193,000 after buying an additional 5,770 shares during the period. 96.85% of the stock is owned by hedge funds and other institutional investors.
Power Integrations Company Profile
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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