Power Integrations, Inc. (POWI) Announces Earnings Results
Power Integrations, Inc. (NASDAQ:POWI) released its quarterly earnings data on Thursday. The semiconductor company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02, Bloomberg Earnings reports. The company had revenue of $107.56 million during the quarter, compared to the consensus estimate of $107.85 million. Power Integrations had a net margin of 13.07% and a return on equity of 12.19%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS.
Shares of Power Integrations (NASDAQ POWI) traded down 0.52% during trading on Thursday, reaching $77.05. 272,082 shares of the company traded hands. The stock has a market capitalization of $2.29 billion, a PE ratio of 44.28 and a beta of 1.23. Power Integrations has a 12 month low of $53.18 and a 12 month high of $82.80. The company has a 50-day moving average of $72.39 and a 200-day moving average of $67.66.
The company also recently declared 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 annualized dividend and a yield of 0.73%. The ex-dividend date was Friday, May 26th. Power Integrations’s dividend payout ratio is currently 31.29%.
In related news, VP Doug Bailey sold 2,000 shares of the company’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the vice president now owns 34,976 shares of the company’s stock, valued at $2,448,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicholas Brathwaite sold 4,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $80.00, for a total transaction of $320,000.00. Following the sale, the director now directly owns 28,109 shares of the company’s stock, valued at approximately $2,248,720. The disclosure for this sale can be found here. Insiders sold 136,933 shares of company stock worth $10,420,663 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently commented on the stock. BidaskClub raised shares of Power Integrations from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Deutsche Bank AG downgraded shares of Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a report on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 price objective (up from $75.00) on shares of Power Integrations in a report on Friday, June 30th. Zacks Investment Research raised shares of Power Integrations from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Saturday, June 24th. Finally, Sidoti raised shares of Power Integrations from a “neutral” rating to a “buy” rating in a report on Monday, May 15th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $76.50.
Power Integrations Company Profile
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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