Power Integrations Downgraded to “Neutral” at Zacks (POWI)
Power Integrations (NASDAQ:POWI) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Wednesday, AnalystRatingsNetwork.com reports. They currently have a $58.80 price target on the stock. Zacks‘ price target would indicate a potential upside of 8.57% from the stock’s previous close.
In other Power Integrations news, CEO Balu Balakrishnan unloaded 17,506 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $56.25, for a total value of $984,712.50. Following the sale, the chief executive officer now directly owns 108,788 shares in the company, valued at approximately $6,119,325. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on POWI. Analysts at Stifel Nicolaus raised their price target on shares of Power Integrations (NASDAQ:POWI) from $54.00 to $58.00 in a research note to investors on Thursday, August 1st. They now have a “buy” rating on the stock. Separately, analysts at Needham & Company raised their price target on shares of Power Integrations (NASDAQ:POWI) from $53.00 to $57.00 in a research note to investors on Thursday, August 1st. They now have a “buy” rating on the stock. Finally, analysts at TheStreet upgraded shares of Power Integrations (NASDAQ:POWI) from a “hold” rating to a “buy” rating in a research note to investors on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $48.80.
Shares of Power Integrations (NASDAQ:POWI) traded down 0.35% during mid-day trading on Wednesday, hitting $53.97. 101,583 shares of the company’s stock traded hands. Power Integrations has a one year low of $27.20 and a one year high of $57.24. The stock’s 50-day moving average is $53.86 and its 200-day moving average is $46.55. The company’s market cap is $1.598 billion.
Power Integrations (NASDAQ:POWI) last announced its earnings results on Tuesday, July 30th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $87.90 million for the quarter, compared to the consensus estimate of $87.46 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Analysts expect that Power Integrations will post $2.36 EPS for the current fiscal year.
Power Integrations, Inc, (NASDAQ:POWI) designs, develops, manufactures and markets high-voltage, analog and mixed-signal integrated-circuit (IC) products and high-voltage silicon diodes.
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