Power Integrations (NASDAQ:POWI) Upgraded at BidaskClub

BidaskClub upgraded shares of Power Integrations (NASDAQ:POWI) from a hold rating to a buy rating in a report issued on Friday morning, BidAskClub reports.

Several other brokerages also recently commented on POWI. Loop Capital reiterated a hold rating and set a $76.00 price target on shares of Power Integrations in a report on Tuesday, June 18th. Stifel Nicolaus upgraded shares of Power Integrations from a hold rating to a buy rating and upped their price target for the company from $74.00 to $90.00 in a report on Wednesday, July 17th. Zacks Investment Research reiterated a hold rating on shares of Western New England Bancorp in a report on Saturday, June 29th. Finally, Northland Securities reiterated a hold rating on shares of Lendingtree in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $75.25.

Shares of NASDAQ POWI opened at $83.04 on Friday. The firm’s 50-day simple moving average is $74.61. The stock has a market cap of $2.43 billion, a PE ratio of 38.80 and a beta of 1.29. Power Integrations has a 12-month low of $47.35 and a 12-month high of $84.74.



Power Integrations (NASDAQ:POWI) last announced its earnings results on Thursday, April 25th. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.19. The firm had revenue of $89.19 million for the quarter, compared to analysts’ expectations of $90.10 million. Power Integrations had a net margin of 15.67% and a return on equity of 10.86%. The business’s revenue was down 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. On average, equities research analysts predict that Power Integrations will post 1.66 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 0.82%. Power Integrations’s dividend payout ratio is currently 31.78%.

In other Power Integrations news, CFO Sandeep Nayyar sold 5,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $79.94, for a total value of $399,700.00. Following the transaction, the chief financial officer now directly owns 82,512 shares in the company, valued at approximately $6,596,009.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Doug Bailey sold 1,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $65.31, for a total transaction of $65,310.00. Following the completion of the transaction, the vice president now owns 59,298 shares in the company, valued at $3,872,752.38. The disclosure for this sale can be found here. Insiders sold a total of 20,000 shares of company stock worth $1,572,450 over the last 90 days. Insiders own 4.10% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC grew its stake in Power Integrations by 1,426.5% in the 1st quarter. Quadrant Capital Group LLC now owns 748 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 699 shares in the last quarter. Cutler Group LP lifted its position in shares of Power Integrations by 222.2% in the 1st quarter. Cutler Group LP now owns 1,305 shares of the semiconductor company’s stock worth $91,000 after purchasing an additional 900 shares during the period. ETF Managers Group LLC lifted its position in shares of Power Integrations by 10.5% in the 1st quarter. ETF Managers Group LLC now owns 2,103 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 199 shares during the period. Advisor Group Inc. lifted its position in shares of Power Integrations by 15.9% in the 4th quarter. Advisor Group Inc. now owns 3,097 shares of the semiconductor company’s stock worth $189,000 after purchasing an additional 426 shares during the period. Finally, MML Investors Services LLC lifted its position in shares of Power Integrations by 7.4% in the 4th quarter. MML Investors Services LLC now owns 3,525 shares of the semiconductor company’s stock worth $215,000 after purchasing an additional 242 shares during the period. Institutional investors and hedge funds own 97.56% of the company’s stock.

Power Integrations Company Profile

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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