Stifel Nicolaus Reiterates “Buy” Rating for Power Integrations Inc. (POWI)
Power Integrations Inc. (NASDAQ:POWI)‘s stock had its “buy” rating restated by analysts at Stifel Nicolaus in a research report issued to clients and investors on Thursday. They currently have a $70.00 price objective on the stock, up from their prior price objective of $63.00. Stifel Nicolaus’ price objective would suggest a potential upside of 11.41% from the company’s previous close.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. Deutsche Bank AG upped their target price on shares of Power Integrations from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, Sidoti cut shares of Power Integrations from a “buy” rating to a “neutral” rating in a research report on Thursday, June 23rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $62.80.
Shares of Power Integrations (NASDAQ:POWI) opened at 62.83 on Thursday. The firm has a market cap of $1.82 billion, a PE ratio of 41.78 and a beta of 1.13. The company’s 50-day moving average price is $60.65 and its 200-day moving average price is $53.40. Power Integrations has a 52-week low of $39.53 and a 52-week high of $64.73.
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Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.09. Power Integrations had a return on equity of 11.64% and a net margin of 12.36%. The firm had revenue of $97.20 million for the quarter, compared to the consensus estimate of $91.22 million. During the same quarter in the prior year, the business earned $0.47 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities analysts expect that Power Integrations will post $2.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, August 31st were issued a $0.13 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.52 annualized dividend and a yield of 0.83%. Power Integrations’s payout ratio is 34.44%.
In related news, VP Doug Bailey sold 960 shares of the business’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $64.13, for a total value of $61,564.80. Following the transaction, the vice president now owns 27,259 shares in the company, valued at $1,748,119.67. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Balu Balakrishnan sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the transaction, the chief executive officer now owns 210,730 shares in the company, valued at approximately $11,590,150. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Power Integrations by 2.1% in the second quarter. Vanguard Group Inc. now owns 2,206,875 shares of the company’s stock valued at $110,498,000 after buying an additional 45,940 shares during the period. BlackRock Fund Advisors increased its stake in Power Integrations by 0.4% in the second quarter. BlackRock Fund Advisors now owns 1,813,478 shares of the company’s stock valued at $90,801,000 after buying an additional 7,583 shares during the period. Bank of New York Mellon Corp increased its stake in Power Integrations by 32.5% in the second quarter. Bank of New York Mellon Corp now owns 1,064,064 shares of the company’s stock valued at $53,277,000 after buying an additional 260,844 shares during the period. Fiera Capital Corp bought a new stake in Power Integrations during the second quarter valued at $41,542,000. Finally, Dimensional Fund Advisors LP increased its stake in Power Integrations by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 735,222 shares of the company’s stock valued at $36,812,000 after buying an additional 63,320 shares during the period. 97.78% 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’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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