Zacks Investment Research upgraded shares of Power Integrations (NASDAQ:POWI) from a hold rating to a buy rating in a research note released on Saturday, Zacks.com reports. The brokerage currently has $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. “
Other research analysts have also recently issued reports about the stock. Stifel Nicolaus set a $97.00 price target on shares of Power Integrations and gave the stock a buy rating in a report on Friday, July 26th. BidaskClub upgraded shares of Power Integrations from a buy rating to a strong-buy rating in a research note on Saturday, July 27th. Northland Securities reissued an underperform rating and set a $70.00 target price on shares of Power Integrations in a research report on Monday, July 29th. Deutsche Bank set a $80.00 target price on shares of Power Integrations and gave the stock a hold rating in a research report on Friday, July 26th. Finally, Loop Capital restated a hold rating and issued a $76.00 target price on shares of Power Integrations in a research note on Tuesday, June 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $84.60.
POWI opened at $91.22 on Friday. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 42.63 and a beta of 1.26. The firm’s fifty day moving average price is $87.78 and its two-hundred day moving average price is $77.24. Power Integrations has a 1 year low of $47.35 and a 1 year high of $102.38.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, July 25th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The firm had revenue of $102.87 million during the quarter, compared to analyst estimates of $100.04 million. Power Integrations had a net margin of 14.79% and a return on equity of 9.87%. The business’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 EPS. As a group, sell-side analysts forecast that Power Integrations will post 1.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 yield of 0.75%. Power Integrations’s dividend payout ratio (DPR) is presently 31.78%.
In related news, VP Doug Bailey sold 1,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $82.00, for a total value of $82,000.00. Following the transaction, the vice president now directly owns 58,298 shares of the company’s stock, valued at approximately $4,780,436. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Balakrishnan S. Iyer sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $89.00, for a total transaction of $356,000.00. Following the completion of the transaction, the director now directly owns 20,240 shares in the company, valued at $1,801,360. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,425 shares of company stock valued at $3,982,569. Insiders own 4.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of POWI. BlackRock Inc. grew its position in shares of Power Integrations by 0.7% during the 2nd quarter. BlackRock Inc. now owns 4,230,257 shares of the semiconductor company’s stock valued at $339,182,000 after acquiring an additional 30,956 shares during the period. Vanguard Group Inc. lifted its stake in Power Integrations by 0.6% in the second quarter. Vanguard Group Inc. now owns 3,003,910 shares of the semiconductor company’s stock valued at $240,854,000 after purchasing an additional 16,957 shares during the last quarter. Invesco Ltd. lifted its stake in Power Integrations by 7.8% in the second quarter. Invesco Ltd. now owns 937,237 shares of the semiconductor company’s stock valued at $75,147,000 after purchasing an additional 68,121 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Power Integrations by 4.6% during the second quarter. JPMorgan Chase & Co. now owns 700,687 shares of the semiconductor company’s stock valued at $53,982,000 after purchasing an additional 30,802 shares during the period. Finally, Northern Trust Corp grew its holdings in Power Integrations by 0.9% during the second quarter. Northern Trust Corp now owns 547,014 shares of the semiconductor company’s stock valued at $43,859,000 after purchasing an additional 4,741 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.
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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