Susquehanna Bancshares Begins Coverage on Power Integrations (POWI)
Investment analysts at Susquehanna Bancshares initiated coverage on shares of Power Integrations (NASDAQ:POWI) in a research note issued on Wednesday, MarketBeat reports. The firm set a “neutral” rating and a $80.00 price target on the semiconductor company’s stock. Susquehanna Bancshares’ price target points to a potential upside of 10.12% from the stock’s previous close.
Several other equities analysts have also recently issued reports on POWI. BidaskClub cut Power Integrations from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Zacks Investment Research upgraded Power Integrations from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Wednesday, November 1st. Drexel Hamilton reiterated a “buy” rating and set a $84.00 price target on shares of Power Integrations in a research report on Friday, October 27th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $85.00 price target on shares of Power Integrations in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $82.80.
Power Integrations (NASDAQ POWI) traded down $1.20 on Wednesday, reaching $72.65. The company had a trading volume of 99,954 shares, compared to its average volume of 167,493. Power Integrations has a 12-month low of $61.44 and a 12-month high of $86.60. The firm has a market cap of $2,194.59, a PE ratio of 35.17 and a beta of 1.26.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, October 26th. The semiconductor company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. Power Integrations had a return on equity of 11.95% and a net margin of 13.69%. The firm had revenue of $111.30 million for the quarter, compared to analysts’ expectations of $111.82 million. During the same period last year, the firm earned $0.67 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. equities research analysts predict that Power Integrations will post 2.06 EPS for the current fiscal year.
In related news, VP Ben Sutherland sold 500 shares of Power Integrations stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $79.58, for a total value of $39,790.00. Following the transaction, the vice president now directly owns 40,965 shares in the company, valued at approximately $3,259,994.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Balu Balakrishnan sold 51,350 shares of Power Integrations stock in a transaction on Monday, November 6th. The stock was sold at an average price of $80.71, for a total value of $4,144,458.50. Following the completion of the transaction, the chief executive officer now owns 268,226 shares in the company, valued at $21,648,520.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,089 shares of company stock worth $5,077,253. 4.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Neuberger Berman Group LLC grew its holdings in shares of Power Integrations by 4.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,925,039 shares of the semiconductor company’s stock worth $214,113,000 after acquiring an additional 128,790 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Power Integrations by 6.9% in the 3rd quarter. California Public Employees Retirement System now owns 81,554 shares of the semiconductor company’s stock worth $5,970,000 after acquiring an additional 5,254 shares during the last quarter. Granahan Investment Management Inc. MA grew its holdings in shares of Power Integrations by 63.5% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 96,873 shares of the semiconductor company’s stock worth $7,091,000 after acquiring an additional 37,639 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Power Integrations in the 3rd quarter worth $205,000. Finally, Nicholas Investment Partners LP acquired a new position in shares of Power Integrations in the 3rd quarter worth $2,754,000. Institutional investors and hedge funds own 97.51% of the company’s stock.
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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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