Power Integrations (NASDAQ:POWI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, December 27th.
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. “
Other equities research analysts have also recently issued research reports about the stock. Drexel Hamilton restated a “buy” rating and issued a $84.00 target price on shares of Power Integrations in a report on Friday, October 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 price target on shares of Power Integrations in a research report on Wednesday, October 4th. Susquehanna Bancshares started coverage on shares of Power Integrations in a research report on Wednesday, December 13th. They issued a “neutral” rating and a $80.00 price target on the stock. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Power Integrations from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Power Integrations has an average rating of “Hold” and an average price target of $81.40.
Shares of Power Integrations (NASDAQ:POWI) opened at $78.55 on Wednesday. Power Integrations has a fifty-two week low of $61.44 and a fifty-two week high of $86.60. The company has a market cap of $2,314.94, a P/E ratio of 40.70 and a beta of 1.27.
Power Integrations (NASDAQ:POWI) last issued its earnings results on Thursday, October 26th. 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. Power Integrations had a net margin of 13.69% and a return on equity of 11.95%. The company had revenue of $111.30 million for the quarter, compared to analysts’ expectations of $111.82 million. During the same quarter last year, the company posted $0.67 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. analysts expect that Power Integrations will post 2.06 earnings per share for the current fiscal year.
In other Power Integrations news, CEO Balu Balakrishnan sold 51,350 shares of Power Integrations stock in a transaction on Monday, November 6th. The shares were sold at an average price of $80.71, for a total value of $4,144,458.50. Following the sale, the chief executive officer now directly owns 268,226 shares in the company, valued at approximately $21,648,520.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David Mh Matthews sold 704 shares of Power Integrations stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $78.33, for a total transaction of $55,144.32. Following the completion of the transaction, the vice president now directly owns 42,654 shares of the company’s stock, valued at $3,341,087.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,089 shares of company stock worth $5,077,253. 4.30% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in POWI. Schwab Charles Investment Management Inc. boosted its stake in shares of Power Integrations by 10.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 156,854 shares of the semiconductor company’s stock worth $11,435,000 after purchasing an additional 14,657 shares during the period. Rhumbline Advisers boosted its stake in shares of Power Integrations by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 57,479 shares of the semiconductor company’s stock worth $4,190,000 after purchasing an additional 212 shares during the period. SG Americas Securities LLC boosted its stake in shares of Power Integrations by 23.5% during the 2nd quarter. SG Americas Securities LLC now owns 8,227 shares of the semiconductor company’s stock worth $600,000 after purchasing an additional 1,565 shares during the period. Legal & General Group Plc boosted its stake in shares of Power Integrations by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 57,673 shares of the semiconductor company’s stock worth $4,204,000 after purchasing an additional 4,970 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Power Integrations by 62.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,006 shares of the semiconductor company’s stock worth $729,000 after purchasing an additional 3,848 shares during the period. 97.25% of the stock is owned by hedge funds and other institutional investors.
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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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