Brokerages Expect Power Integrations, Inc. (POWI) to Announce $0.48 EPS
Wall Street brokerages expect Power Integrations, Inc. (NASDAQ:POWI) to report $0.48 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Power Integrations’ earnings. Power Integrations posted earnings of $0.43 per share in the same quarter last year, which would indicate a positive year over year growth rate of 11.6%. The business is scheduled to announce its next quarterly earnings results after the market closes on Thursday, July 27th.
According to Zacks, analysts expect that Power Integrations will report full-year earnings of $2.09 per share for the current year. For the next year, analysts anticipate that the business will report earnings of $2.49 per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Power Integrations.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, April 27th. The semiconductor company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.11. The company had revenue of $104.70 million for the quarter, compared to the consensus estimate of $102.21 million. Power Integrations had a net margin of 13.07% and a return on equity of 12.19%. Power Integrations’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 EPS.
POWI has been the topic of a number of research analyst reports. Stifel Nicolaus restated a “buy” rating and set a $82.00 price target (up previously from $75.00) on shares of Power Integrations in a research note on Friday, June 30th. Sidoti initiated coverage on Power Integrations in a research note on Monday, April 17th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded Power Integrations from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Saturday, June 24th. Finally, BidaskClub lowered Power Integrations from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 16th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $74.00.
In related news, insider Balu Balakrishnan sold 65,000 shares of Power Integrations stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $78.06, for a total transaction of $5,073,900.00. Following the completion of the sale, the insider now owns 319,576 shares of the company’s stock, valued at $24,946,102.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Doug Bailey sold 4,000 shares of Power Integrations stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $72.93, for a total value of $291,720.00. Following the sale, the vice president now directly owns 46,976 shares of the company’s stock, valued at approximately $3,425,959.68. The disclosure for this sale can be found here. Insiders have sold 132,933 shares of company stock valued at $10,100,663 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Power Integrations by 70,779.1% in the first quarter. BlackRock Inc. now owns 3,457,481 shares of the semiconductor company’s stock worth $227,330,000 after buying an additional 3,452,603 shares during the period. Norges Bank purchased a new stake in Power Integrations during the fourth quarter worth approximately $19,531,000. Vanguard Group Inc. increased its stake in Power Integrations by 6.4% in the first quarter. Vanguard Group Inc. now owns 2,537,323 shares of the semiconductor company’s stock worth $166,829,000 after buying an additional 153,103 shares during the period. Pier Capital LLC purchased a new stake in Power Integrations during the first quarter worth approximately $5,594,000. Finally, OppenheimerFunds Inc. increased its stake in Power Integrations by 30.5% in the first quarter. OppenheimerFunds Inc. now owns 331,386 shares of the semiconductor company’s stock worth $21,789,000 after buying an additional 77,458 shares during the period. 96.24% of the stock is owned by hedge funds and other institutional investors.
Power Integrations (NASDAQ POWI) traded up 1.36% during trading on Thursday, reaching $81.85. 51,674 shares of the company’s stock traded hands. The company has a 50 day moving average of $70.62 and a 200 day moving average of $67.19. Power Integrations has a one year low of $53.18 and a one year high of $82.00. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 47.04 and a beta of 1.23.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Wednesday, May 31st were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Friday, May 26th. Power Integrations’s dividend payout ratio (DPR) is 31.29%.
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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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