Power Integrations Inc. (POWI) Downgraded by Zacks Investment Research to “Hold”
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. “
Other analysts have also recently issued reports about the company. Deutsche Bank AG raised their price objective on Power Integrations from $55.00 to $65.00 and gave the company a buy rating in a research report on Friday, July 29th. Sidoti cut Power Integrations from a buy rating to a neutral rating in a research report on Thursday, June 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $60.40.
Shares of Power Integrations (NASDAQ:POWI) traded up 1.19% on Thursday, reaching $62.25. The company’s stock had a trading volume of 27,877 shares. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 41.39 and a beta of 1.11. Power Integrations has a 1-year low of $39.53 and a 1-year high of $62.46. The company’s 50 day moving average is $59.01 and its 200-day moving average is $52.40.
Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.09. Power Integrations had a return on equity of 11.64% and a net margin of 12.36%. The company earned $97.20 million during the quarter, compared to analysts’ expectations of $91.22 million. During the same period last year, the firm posted $0.47 earnings per share. The business’s revenue was up 14.0% on a year-over-year basis. Equities research analysts expect that Power Integrations will post $2.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be paid a $0.13 dividend. The ex-dividend date is Monday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 0.85%. Power Integrations’s payout ratio is 34.44%.
In related news, VP Doug Bailey sold 500 shares of the firm’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $51.25, for a total transaction of $25,625.00. Following the sale, the vice president now owns 27,719 shares of the company’s stock, valued at approximately $1,420,598.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alan Bickell sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $58.39, for a total value of $233,560.00. Following the sale, the director now directly owns 14,534 shares in the company, valued at approximately $848,640.26. The disclosure for this sale can be found here. 5.70% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in POWI. Fiera Capital Corp purchased a new stake in Power Integrations during the second quarter valued at $41,542,000. Polar Capital LLP purchased a new stake in Power Integrations during the second quarter valued at $14,730,000. Bank of New York Mellon Corp increased its stake in Power Integrations by 32.5% in the second quarter. Bank of New York Mellon Corp now owns 1,064,064 shares of the company’s stock valued at $53,277,000 after buying an additional 260,844 shares during the period. Impax Asset Management LTD increased its stake in Power Integrations by 27.4% in the first quarter. Impax Asset Management LTD now owns 635,120 shares of the company’s stock valued at $31,539,000 after buying an additional 136,430 shares during the period. Finally, Kleinwort Benson Investors Dublin Ltd purchased a new stake in Power Integrations during the second quarter valued at $3,824,000. 97.78% of the stock is currently owned by 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. 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.
Receive News & Stock Ratings for Power Integrations Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Power Integrations Inc. and related stocks with our FREE daily email newsletter.