Zacks Investment Research upgraded shares of Power Integrations (NASDAQ:POWI) from a hold rating to a buy rating in a report published on Saturday morning, Zacks.com reports. They currently have $100.00 price objective on the semiconductor company’s stock.
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 brokerages have also issued reports on POWI. Loop Capital reaffirmed a hold rating and set a $76.00 price target on shares of Power Integrations in a research note on Tuesday, June 18th. Stifel Nicolaus set a $97.00 price objective on Power Integrations and gave the stock a buy rating in a report on Friday, July 26th. Deutsche Bank set a $80.00 price objective on Power Integrations and gave the company a hold rating in a research report on Friday, July 26th. BidaskClub raised Power Integrations from a buy rating to a strong-buy rating in a report on Saturday, July 27th. Finally, Northland Securities restated an underperform rating and issued a $70.00 target price on shares of Power Integrations in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and an average target price of $84.60.
Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. Power Integrations had a net margin of 14.79% and a return on equity of 9.87%. The company had revenue of $102.87 million during the quarter, compared to the consensus estimate of $100.04 million. During the same period in the previous year, the firm posted $0.74 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. On average, equities research analysts forecast that Power Integrations will post 1.78 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be paid a $0.17 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.75%. Power Integrations’s dividend payout ratio (DPR) is 31.78%.
In related news, CEO Balu Balakrishnan sold 9,367 shares of Power Integrations stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $93.15, for a total value of $872,536.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Doug Bailey sold 1,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $82.00, for a total transaction of $82,000.00. Following the completion of the sale, the vice president now directly owns 58,298 shares of the company’s stock, valued at $4,780,436. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,425 shares of company stock worth $3,982,569. 4.10% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in POWI. Quadrant Capital Group LLC increased its holdings 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. Huntington National Bank increased its stake in shares of Power Integrations by 19.9% in the second quarter. Huntington National Bank now owns 1,042 shares of the semiconductor company’s stock worth $84,000 after buying an additional 173 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 raised its holdings in Power Integrations by 10.5% during the 1st quarter. ETF Managers Group LLC now owns 2,103 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 199 shares during the last quarter. Finally, Magnus Financial Group LLC bought a new stake in Power Integrations during the 2nd quarter valued at $220,000. 97.01% of the stock is currently owned by hedge funds and other 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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