Power Integrations (NASDAQ:POWI) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Power Integrations (NASDAQ:POWI) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

A number of other brokerages also recently weighed in on POWI. Stifel Nicolaus raised their price objective on Power Integrations from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Northland Securities downgraded shares of Power Integrations from an “outperform” rating to a “market perform” rating and set a $46.00 target price for the company. in a report on Monday, April 6th. Benchmark increased their price target on shares of Power Integrations from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 6th. Susquehanna raised their price target on shares of Power Integrations from $70.00 to $85.00 and gave the company a “positive” rating in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Power Integrations presently has an average rating of “Moderate Buy” and an average target price of $76.20.

Power Integrations Stock Down 4.2%

Shares of POWI stock opened at $80.27 on Tuesday. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 267.58, a PEG ratio of 3.64 and a beta of 1.57. Power Integrations has a 52-week low of $30.86 and a 52-week high of $91.18. The company’s 50 day moving average is $77.11 and its 200 day moving average is $56.72.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Power Integrations had a return on equity of 5.34% and a net margin of 3.72%.The company had revenue of $108.31 million during the quarter, compared to analyst estimates of $106.75 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. Power Integrations’s revenue was up 2.6% on a year-over-year basis. Analysts anticipate that Power Integrations will post 0.89 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, May 29th. Power Integrations’s dividend payout ratio is currently 286.67%.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, Director Nicholas Brathwaite sold 1,728 shares of the stock in a transaction dated 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 sale, the director directly owned 22,226 shares in the company, valued at approximately $1,925,216.12. This trade represents a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Balu Balakrishnan sold 124,287 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director directly owned 279,516 shares of the company’s stock, valued at approximately $24,161,363.04. This represents a 30.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 334,772 shares of company stock worth $27,322,535. 1.40% of the stock is owned by insiders.

Institutional Trading of Power Integrations

A number of institutional investors have recently bought and sold shares of POWI. Snyder Capital Management L P grew its position in Power Integrations by 148.8% during the 4th quarter. Snyder Capital Management L P now owns 2,064,707 shares of the semiconductor company’s stock worth $73,380,000 after purchasing an additional 1,234,981 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Power Integrations by 1,885.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 943,365 shares of the semiconductor company’s stock worth $33,528,000 after buying an additional 895,857 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Power Integrations by 3,635.7% during the fourth quarter. M&T Bank Corp now owns 748,555 shares of the semiconductor company’s stock worth $26,604,000 after buying an additional 728,517 shares during the period. Wellington Management Group LLP lifted its stake in shares of Power Integrations by 35.7% during the third quarter. Wellington Management Group LLP now owns 2,261,281 shares of the semiconductor company’s stock worth $90,926,000 after buying an additional 595,404 shares during the period. Finally, State Street Corp grew its holdings in shares of Power Integrations by 18.0% during the fourth quarter. State Street Corp now owns 3,400,970 shares of the semiconductor company’s stock valued at $120,870,000 after buying an additional 518,284 shares during the last quarter.

Power Integrations Company Profile

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.