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 research report issued on Tuesday, AnalystRatings.NET reports. They currently have a $64.50 target price on the stock. Zacks‘ target price points to a potential upside of 8.24% from the stock’s previous close.
In other Power Integrations news, CFO Sandeep Nayyar unloaded 3,408 shares of Power Integrations stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $60.25, for a total value of $205,332.00. Following the completion of the transaction, the chief financial officer now directly owns 33,018 shares in the company, valued at approximately $1,989,335. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Power Integrations (NASDAQ:POWI) traded down 1.28% on Tuesday, hitting $58.83. The stock had a trading volume of 134,669 shares. Power Integrations has a 52-week low of $37.63 and a 52-week high of $62.67. The stock has a 50-day moving average of $59.01 and a 200-day moving average of $55.22. The company has a market cap of $1.780 billion and a P/E ratio of 31.70.
Power Integrations (NASDAQ:POWI) last released its earnings data on Monday, February 3rd. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.63 by $0.03. The company had revenue of $90.40 million for the quarter, compared to the consensus estimate of $89.23 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. Analysts expect that Power Integrations will post $2.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Power Integrations’s previous quarterly dividend of $0.08.
A number of other analysts have also recently weighed in on POWI. Analysts at Stifel Nicolaus raised their price target on shares of Power Integrations from $62.00 to $66.00 in a research note on Tuesday, February 4th. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Power Integrations from $48.00 to $52.00 in a research note on Tuesday, February 4th. They now have a “hold” rating on the stock. Finally, analysts at Raymond James upgraded shares of Power Integrations from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 22nd. They now have a $66.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $58.36.
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.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.