Power Integrations, Inc. (POWI) Rating Increased to Buy at Zacks Investment Research
Power Integrations, Inc. (NASDAQ:POWI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a $90.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.01% from the stock’s current price.
According to Zacks, “Power Integrations, Inc. is a supplier of high-performance electronic components used in high-voltage power-conversion systems. Their integrated circuits and diodes enable compact, energy-efficient AC-DC power supplies for a vast range of electronic products including mobile devices, TVs, PCs, appliances, smart utility meters and LED lights. Their SCALE IGBT drivers enhance the efficiency, reliability and cost of high-power applications such as industrial motor drives, solar and wind energy systems, electric vehicles and high-voltage DC transmission. Since its introduction, Power Integrations’ EcoSmart® energy-efficiency technology has prevented billions of dollars’ worth of energy waste and millions of tons of carbon emissions. Reflecting the environmental benefits of their products, Power Integrations’ stock is a member of clean-technology stock indices sponsored by Cleantech Group LLC and Clean Edge. “
A number of other brokerages also recently issued reports on POWI. BidaskClub upgraded shares of Power Integrations from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 price target on shares of Power Integrations in a report on Sunday, September 3rd. Drexel Hamilton set a $84.00 price target on shares of Power Integrations and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Deutsche Bank AG downgraded shares of Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a report on Tuesday, July 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $83.50.
Shares of Power Integrations (NASDAQ POWI) opened at 80.35 on Wednesday. The stock has a market cap of $2.39 billion, a PE ratio of 44.66 and a beta of 1.28. Power Integrations has a 1-year low of $61.44 and a 1-year high of $86.60. The stock’s 50 day moving average is $73.67 and its 200-day moving average is $70.76.
Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.05. The business had revenue of $111.30 million during the quarter, compared to the consensus estimate of $111.82 million. Power Integrations had a net margin of 13.69% and a return on equity of 11.95%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 EPS. On average, analysts predict that Power Integrations will post $2.82 EPS for the current fiscal year.
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In other Power Integrations news, VP Raja Petrakian sold 2,272 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $68.89, for a total transaction of $156,518.08. Following the completion of the transaction, the vice president now directly owns 30,815 shares in the company, valued at approximately $2,122,845.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Mh Matthews sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $71.22, for a total transaction of $71,220.00. Following the transaction, the vice president now owns 43,405 shares of the company’s stock, valued at $3,091,304.10. The disclosure for this sale can be found here. Insiders have sold a total of 3,593 shares of company stock valued at $250,457 over the last 90 days. 4.30% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in Power Integrations by 70,779.1% during the 1st quarter. BlackRock Inc. now owns 3,457,481 shares of the semiconductor company’s stock valued at $227,330,000 after acquiring an additional 3,452,603 shares in the last quarter. Vanguard Group Inc. increased its holdings in Power Integrations by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,610,745 shares of the semiconductor company’s stock valued at $190,324,000 after acquiring an additional 73,422 shares in the last quarter. GW&K Investment Management LLC increased its holdings in Power Integrations by 5.1% during the 2nd quarter. GW&K Investment Management LLC now owns 824,737 shares of the semiconductor company’s stock valued at $60,123,000 after acquiring an additional 40,065 shares in the last quarter. State Street Corp increased its holdings in Power Integrations by 7.7% during the 1st quarter. State Street Corp now owns 790,601 shares of the semiconductor company’s stock valued at $51,987,000 after acquiring an additional 56,748 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Power Integrations by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 687,687 shares of the semiconductor company’s stock valued at $45,215,000 after acquiring an additional 8,689 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.
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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