Power Integrations (NASDAQ:POWI) Upgraded to Buy by Loop Capital

Power Integrations (NASDAQ:POWI) was upgraded by investment analysts at Loop Capital from a “hold” rating to a “buy” rating in a research note issued on Friday, The Fly reports.

A number of other research analysts also recently issued reports on the stock. BidaskClub downgraded shares of Power Integrations from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Saturday, October 12th. Northland Securities restated an “underperform” rating and issued a $70.00 price target on shares of Power Integrations in a research report on Monday, July 29th. Deutsche Bank set a $80.00 price target on shares of Power Integrations and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, ValuEngine downgraded shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Power Integrations currently has an average rating of “Hold” and an average target price of $84.60.

NASDAQ:POWI opened at $88.76 on Friday. The firm’s 50 day simple moving average is $90.54 and its 200 day simple moving average is $81.34. Power Integrations has a one year low of $47.35 and a one year high of $102.38. The company has a market cap of $2.51 billion, a PE ratio of 41.48 and a beta of 1.23.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, October 24th. The semiconductor company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.75 by $0.03. The business had revenue of $114.16 million for the quarter, compared to the consensus estimate of $114.20 million. Power Integrations had a net margin of 14.79% and a return on equity of 9.87%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. On average, equities analysts predict that Power Integrations will post 1.78 earnings per share for the current fiscal year.

In other news, Director William George sold 8,000 shares of Power Integrations stock in a transaction on Friday, August 16th. The shares were sold at an average price of $85.00, for a total value of $680,000.00. Following the completion of the sale, the director now owns 39,345 shares in the company, valued at approximately $3,344,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Nayyar sold 20,000 shares of Power Integrations stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $90.50, for a total transaction of $1,810,000.00. Following the completion of the sale, the chief financial officer now owns 57,518 shares of the company’s stock, valued at approximately $5,205,379. The disclosure for this sale can be found here. Insiders sold a total of 98,146 shares of company stock worth $8,936,493 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Power Integrations by 0.7% in 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of Power Integrations by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,003,910 shares of the semiconductor company’s stock valued at $240,854,000 after acquiring an additional 16,957 shares in the last quarter. Invesco Ltd. increased its stake in shares of Power Integrations by 7.8% in the 2nd quarter. Invesco Ltd. now owns 937,237 shares of the semiconductor company’s stock valued at $75,147,000 after acquiring an additional 68,121 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Power Integrations by 4.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 700,687 shares of the semiconductor company’s stock valued at $53,982,000 after acquiring an additional 30,802 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Power Integrations by 0.9% in the 2nd quarter. Northern Trust Corp now owns 547,014 shares of the semiconductor company’s stock valued at $43,859,000 after acquiring an additional 4,741 shares in the last quarter. Institutional investors own 97.05% 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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