Power Integrations, Inc. (POWI) Issues Earnings Results, Beats Expectations By $0.05 EPS
Power Integrations, Inc. (NASDAQ:POWI) posted its earnings results on Thursday. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.05, Bloomberg Earnings reports. The company had revenue of $111.30 million during the quarter, compared to analyst estimates of $111.82 million. Power Integrations had a return on equity of 12.08% and a net margin of 13.37%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 EPS.
Power Integrations (NASDAQ:POWI) opened at 76.00 on Friday. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 42.25 and a beta of 1.28. Power Integrations has a 52-week low of $61.17 and a 52-week high of $82.80. The stock’s 50 day moving average price is $72.91 and its 200 day moving average price is $70.28.
In other news, VP Raja Petrakian sold 2,272 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $68.89, for a total value of $156,518.08. Following the completion of the sale, the vice president now owns 30,815 shares of the company’s stock, valued at $2,122,845.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP David Mh Matthews sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $71.22, for a total value of $71,220.00. Following the sale, the vice president now directly owns 43,405 shares of the company’s stock, valued at approximately $3,091,304.10. The disclosure for this sale can be found here. In the last three months, insiders sold 3,593 shares of company stock valued at $250,457. Insiders own 4.30% of the company’s stock.
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Several equities analysts have recently issued reports on POWI shares. Stifel Nicolaus restated a “buy” rating and set a $82.00 target price (up from $75.00) on shares of Power Integrations in a research report on Friday, June 30th. BidaskClub upgraded Power Integrations from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Deutsche Bank AG lowered Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Tuesday, July 25th. Drexel Hamilton set a $84.00 target price on Power Integrations and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research upgraded Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $81.33.
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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