Power Integrations (POWI) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS
Power Integrations (NASDAQ:POWI) released its earnings data on Wednesday. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05, American Banking & Market News reports. The company had revenue of $91.72 million for the quarter, compared to the consensus estimate of $91.77 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 17.5% on a year-over-year basis.
Power Integrations (NASDAQ:POWI) traded down 1.28% on Wednesday, hitting $51.431. The stock had a trading volume of 229,103 shares. Power Integrations has a 52-week low of $27.20 and a 52-week high of $56.24. The stock’s 50-day moving average is $53.14 and its 200-day moving average is $45.3. The company’s market cap is $1.523 billion.
A number of analysts have recently weighed in on POWI shares. Analysts at Zacks downgraded shares of Power Integrations from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, October 2nd. They now have a $58.80 price target on the stock. On a related note, analysts at Stifel Nicolaus raised their price target on shares of Power Integrations 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. Finally, analysts at Needham & Company raised their price target on shares of Power Integrations 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $51.96.
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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