Power Integrations (NASDAQ:POWI) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday, October 17th.
A number of other analysts also recently issued reports on POWI. Loop Capital initiated coverage on Power Integrations in a research report on Thursday, June 21st. They issued a “buy” rating and a $89.00 price target for the company. BidaskClub downgraded Power Integrations from a “hold” rating to a “sell” rating in a report on Friday, July 27th. Zacks Investment Research downgraded Power Integrations from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. Finally, Stifel Nicolaus downgraded Power Integrations from a “buy” rating to a “hold” rating and decreased their price objective for the company from $85.00 to $75.00 in a report on Wednesday, September 12th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $82.20.
Shares of NASDAQ:POWI traded down $1.58 during trading on Wednesday, hitting $56.17. The company’s stock had a trading volume of 199,308 shares, compared to its average volume of 190,028. Power Integrations has a 12 month low of $47.35 and a 12 month high of $82.05. The stock has a market capitalization of $1.69 billion, a PE ratio of 24.64 and a beta of 0.96.
Power Integrations (NASDAQ:POWI) last released its earnings results on Thursday, October 25th. The semiconductor company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Power Integrations had a net margin of 7.04% and a return on equity of 13.46%. The company had revenue of $110.09 million for the quarter, compared to analysts’ expectations of $113.95 million. Equities analysts forecast that Power Integrations will post 1.99 earnings per share for the current year.
In other news, Director Balakrishnan S. Iyer sold 5,500 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $73.51, for a total transaction of $404,305.00. Following the sale, the director now owns 20,240 shares in the company, valued at $1,487,842.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nicholas Brathwaite sold 8,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $57.24, for a total value of $457,920.00. Following the sale, the director now owns 31,458 shares in the company, valued at approximately $1,800,655.92. The disclosure for this sale can be found here. Insiders have sold 16,528 shares of company stock worth $1,076,561 in the last 90 days. Insiders own 4.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp boosted its position in Power Integrations by 1.3% in the second quarter. Northern Trust Corp now owns 526,348 shares of the semiconductor company’s stock valued at $38,450,000 after buying an additional 6,878 shares during the last quarter. Robecosam AG lifted its holdings in Power Integrations by 18.8% in the third quarter. Robecosam AG now owns 404,000 shares of the semiconductor company’s stock valued at $25,492,000 after acquiring an additional 64,000 shares during the period. Comerica Bank raised its stake in shares of Power Integrations by 3.5% during the 2nd quarter. Comerica Bank now owns 32,924 shares of the semiconductor company’s stock worth $2,535,000 after buying an additional 1,106 shares during the period. Aperio Group LLC raised its stake in shares of Power Integrations by 3.5% during the 2nd quarter. Aperio Group LLC now owns 31,788 shares of the semiconductor company’s stock worth $2,322,000 after buying an additional 1,066 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Power Integrations by 42.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 160,067 shares of the semiconductor company’s stock worth $11,693,000 after buying an additional 47,555 shares during the period. Hedge funds and other institutional investors own 97.86% 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. 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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