Power Integrations (NASDAQ:POWI) Downgraded to Hold Rating by Zacks Research

Power Integrations (NASDAQ:POWI) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Power Integrations in a report on Friday, May 8th. Northland Securities cut Power Integrations from an “outperform” rating to a “market perform” rating and set a $46.00 price target for the company. in a report on Monday, April 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Power Integrations in a research report on Friday, May 8th. Needham & Company LLC started coverage on Power Integrations in a research note on Wednesday, June 10th. They set a “buy” rating and a $90.00 price objective on the stock. Finally, Stifel Nicolaus upped their target price on Power Integrations from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Power Integrations currently has an average rating of “Hold” and an average price target of $76.20.

Power Integrations Trading Up 4.6%

NASDAQ:POWI opened at $74.39 on Monday. The company has a market cap of $4.15 billion, a P/E ratio of 247.97, a P/E/G ratio of 3.65 and a beta of 1.57. Power Integrations has a twelve month low of $30.86 and a twelve month high of $91.18. The company’s 50-day moving average price is $76.76 and its 200-day moving average price is $60.11.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $108.31 million during the quarter, compared to analysts’ expectations of $106.75 million. Power Integrations had a net margin of 3.72% and a return on equity of 5.34%. Power Integrations’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 EPS. On average, analysts expect that Power Integrations will post 0.76 earnings per share for the current year.

Insider Activity

In related news, Director Balu Balakrishnan sold 124,287 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $86.44, for a total value of $10,743,368.28. Following the transaction, the director directly owned 279,516 shares in the company, valued at approximately $24,161,363.04. This represents a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nicholas Brathwaite sold 1,728 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $86.62, for a total value of $149,679.36. Following the completion of the transaction, the director owned 22,226 shares of the company’s stock, valued at $1,925,216.12. The trade was a 7.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 334,772 shares of company stock valued at $27,322,535. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Power Integrations

A number of hedge funds have recently modified their holdings of POWI. Harbor Investment Advisory LLC acquired a new stake in shares of Power Integrations during the 2nd quarter worth about $33,000. Geneos Wealth Management Inc. lifted its position in Power Integrations by 576.3% in the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 536 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Power Integrations by 125.5% in the first quarter. EverSource Wealth Advisors LLC now owns 814 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 453 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Power Integrations during the fourth quarter worth about $36,000. Finally, UMB Bank n.a. boosted its stake in Power Integrations by 61.7% during the fourth quarter. UMB Bank n.a. now owns 1,074 shares of the semiconductor company’s stock worth $38,000 after buying an additional 410 shares during the period.

About Power Integrations

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.