Power Integrations’ (POWI) “Buy” Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of Power Integrations (NASDAQ:POWI) in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a $55.00 price objective on the semiconductor company’s stock.

Several other equities research analysts have also recently commented on POWI. Wall Street Zen cut Power Integrations from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Susquehanna cut their price target on Power Integrations from $70.00 to $55.00 and set a “positive” rating for the company in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Power Integrations has an average rating of “Buy” and a consensus target price of $61.67.

Power Integrations Price Performance

Shares of Power Integrations stock opened at $39.62 on Tuesday. The business has a 50 day simple moving average of $46.61 and a two-hundred day simple moving average of $50.53. Power Integrations has a 12 month low of $39.15 and a 12 month high of $69.53. The stock has a market capitalization of $2.22 billion, a P/E ratio of 68.31, a PEG ratio of 2.67 and a beta of 1.38.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Power Integrations had a return on equity of 5.86% and a net margin of 7.59%.The business had revenue of $115.85 million during the quarter, compared to analysts’ expectations of $115.02 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. As a group, research analysts anticipate that Power Integrations will post 0.93 EPS for the current fiscal year.

Power Integrations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 2.1%. Power Integrations’s dividend payout ratio (DPR) is 144.83%.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, VP Doug Bailey sold 16,989 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $46.41, for a total transaction of $788,459.49. Following the completion of the sale, the vice president owned 50,798 shares of the company’s stock, valued at $2,357,535.18. This trade represents a 25.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gagan Jain sold 2,036 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $46.05, for a total value of $93,757.80. Following the sale, the vice president directly owned 18,812 shares of the company’s stock, valued at approximately $866,292.60. This trade represents a 9.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,470 shares of company stock valued at $1,697,214. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Power Integrations

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its stake in Power Integrations by 1.2% during the first quarter. Victory Capital Management Inc. now owns 17,385 shares of the semiconductor company’s stock worth $878,000 after acquiring an additional 200 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Power Integrations by 1.9% in the second quarter. Bank of Montreal Can now owns 11,323 shares of the semiconductor company’s stock valued at $633,000 after buying an additional 214 shares in the last quarter. Bayforest Capital Ltd grew its stake in shares of Power Integrations by 54.3% in the first quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 222 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Power Integrations by 5.4% in the first quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company’s stock valued at $255,000 after buying an additional 261 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Power Integrations by 4.1% in the first quarter. Bessemer Group Inc. now owns 6,769 shares of the semiconductor company’s stock valued at $342,000 after buying an additional 269 shares in the last quarter.

About Power Integrations

Power Integrations, Inc designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company provides a range of alternating current to direct current power conversion products that address power supply ranging from less than one 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, LED lighting, and various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.