Power Integrations, Inc. (POWI) Expected to Announce Quarterly Sales of $111.05 Million
Equities research analysts forecast that Power Integrations, Inc. (NASDAQ:POWI) will post $111.05 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Power Integrations’ earnings, with estimates ranging from $111.00 million to $111.09 million. Power Integrations reported sales of $103.79 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7%. The firm is expected to report its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Power Integrations will report full-year sales of $111.05 million for the current financial year, with estimates ranging from $433.30 million to $435.07 million. For the next financial year, analysts expect that the company will report sales of $478.49 million per share, with estimates ranging from $478.48 million to $478.50 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Power Integrations.
Power Integrations (NASDAQ:POWI) last released its earnings results on Thursday, July 27th. The semiconductor company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. Power Integrations had a return on equity of 12.08% and a net margin of 13.37%. The firm had revenue of $107.56 million for the quarter, compared to the consensus estimate of $107.85 million. During the same period in the prior year, the business posted $0.61 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year.
POWI has been the topic of a number of recent analyst reports. Deutsche Bank AG lowered Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research note on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 price objective on shares of Power Integrations in a report on Sunday, September 3rd. Drexel Hamilton set a $84.00 price objective on Power Integrations and gave the company a “buy” rating in a report on Friday, July 28th. BidaskClub downgraded Power Integrations from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. Finally, Zacks Investment Research raised Power Integrations from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Power Integrations presently has a consensus rating of “Buy” and an average price target of $81.33.
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In related news, VP David Mh Matthews sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $71.22, for a total value of $71,220.00. Following the completion of the sale, the vice president now directly owns 43,405 shares in the company, valued at approximately $3,091,304.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicholas Brathwaite sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $80.00, for a total transaction of $320,000.00. Following the completion of the sale, the director now owns 28,109 shares of the company’s stock, valued at $2,248,720. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,593 shares of company stock valued at $5,644,357. Corporate insiders own 4.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in POWI. BlackRock Inc. increased its holdings in shares of Power Integrations by 70,779.1% during the first quarter. BlackRock Inc. now owns 3,457,481 shares of the semiconductor company’s stock worth $227,330,000 after purchasing an additional 3,452,603 shares during the period. Vanguard Group Inc. increased its stake in Power Integrations by 2.9% in the second quarter. Vanguard Group Inc. now owns 2,610,745 shares of the semiconductor company’s stock valued at $190,324,000 after acquiring an additional 73,422 shares during the last quarter. GW&K Investment Management LLC increased its stake in Power Integrations by 5.1% in the second quarter. GW&K Investment Management LLC now owns 824,737 shares of the semiconductor company’s stock valued at $60,123,000 after acquiring an additional 40,065 shares during the last quarter. State Street Corp increased its stake in Power Integrations by 7.7% in the first quarter. State Street Corp now owns 790,601 shares of the semiconductor company’s stock valued at $51,987,000 after acquiring an additional 56,748 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Power Integrations by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 687,687 shares of the semiconductor company’s stock valued at $45,215,000 after acquiring an additional 8,689 shares during the last quarter. 95.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Power Integrations (POWI) traded down 0.07% during midday trading on Friday, reaching $71.85. The company’s stock had a trading volume of 151,422 shares. The stock has a 50-day moving average price of $72.14 and a 200 day moving average price of $69.55. The stock has a market capitalization of $2.14 billion, a PE ratio of 39.94 and a beta of 1.28. Power Integrations has a 52 week low of $60.67 and a 52 week high of $82.80.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, August 31st were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Tuesday, August 29th. Power Integrations’s dividend payout ratio (DPR) is presently 29.95%.
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.
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