Power Integrations (NASDAQ:POWI) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday, September 11th.
A number of other research firms also recently weighed in on POWI. ValuEngine upgraded Power Integrations from a “hold” rating to a “buy” rating in a research note on Thursday, June 14th. Loop Capital began coverage on Power Integrations in a research report on Thursday, June 21st. They set a “buy” rating and a $89.00 target price on the stock. TheStreet upgraded Power Integrations from a “c+” rating to a “b-” rating in a research report on Wednesday, May 23rd. Finally, Zacks Investment Research downgraded Power Integrations from a “hold” rating to a “sell” rating in a research report on Wednesday, August 1st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Power Integrations presently has a consensus rating of “Hold” and a consensus price target of $82.20.
Shares of POWI stock traded down $1.94 during midday trading on Tuesday, hitting $58.35. The company had a trading volume of 296,546 shares, compared to its average volume of 176,944. Power Integrations has a 52-week low of $58.22 and a 52-week high of $86.60. The company has a market capitalization of $1.86 billion, a P/E ratio of 25.59 and a beta of 0.91.
Power Integrations (NASDAQ:POWI) last announced its earnings results on Thursday, July 26th. The semiconductor company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.14). Power Integrations had a net margin of 6.76% and a return on equity of 13.07%. The company had revenue of $109.48 million during the quarter, compared to analysts’ expectations of $109.33 million. During the same quarter last year, the business posted $0.69 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Research analysts expect that Power Integrations will post 2.13 EPS for the current year.
In related news, Director Balakrishnan S. Iyer sold 5,500 shares of the company’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $73.51, for a total value of $404,305.00. Following the completion of the transaction, the director now directly owns 20,240 shares in the company, valued at $1,487,842.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Doug Bailey sold 500 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $72.95, for a total value of $36,475.00. Following the completion of the transaction, the vice president now owns 53,708 shares of the company’s stock, valued at $3,917,998.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,314 shares of company stock valued at $828,001. Insiders own 4.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Comerica Bank grew its position in Power Integrations by 3.5% during the second quarter. Comerica Bank now owns 32,924 shares of the semiconductor company’s stock valued at $2,535,000 after acquiring an additional 1,106 shares during the period. Aperio Group LLC grew its position in Power Integrations by 3.5% during the second quarter. Aperio Group LLC now owns 31,788 shares of the semiconductor company’s stock valued at $2,322,000 after acquiring an additional 1,066 shares during the period. Public Employees Retirement System of Ohio grew its position in Power Integrations by 42.3% during the second quarter. Public Employees Retirement System of Ohio now owns 160,067 shares of the semiconductor company’s stock valued at $11,693,000 after acquiring an additional 47,555 shares during the period. BlackRock Inc. grew its position in Power Integrations by 6.7% during the second quarter. BlackRock Inc. now owns 4,017,694 shares of the semiconductor company’s stock valued at $293,492,000 after acquiring an additional 253,981 shares during the period. Finally, Prudential Financial Inc. grew its position in Power Integrations by 2.5% during the first quarter. Prudential Financial Inc. now owns 50,702 shares of the semiconductor company’s stock valued at $3,465,000 after acquiring an additional 1,220 shares during the period. 98.28% of the stock is owned by hedge funds and other 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 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, liquid-crystal-display monitors, main and standby power supplies for desktop computers and TVs, light-emitting diode lamps, and other consumer and industrial applications.
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