Power Integrations (NASDAQ:POWI) Trading 6.5% Higher – Time to Buy?

Power Integrations, Inc. (NASDAQ:POWI) shares were up 6.5% on Friday . The company traded as high as $53.01 and last traded at $52.9150. 187,222 shares traded hands during trading, a decline of 81% from the average daily volume of 975,813 shares. The stock had previously closed at $49.69.

Analysts Set New Price Targets

POWI has been the topic of a number of research reports. Zacks Research downgraded Power Integrations from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings upgraded Power Integrations from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Stifel Nicolaus lowered their target price on Power Integrations from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Needham & Company LLC lowered their target price on Power Integrations from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Wall Street Zen raised Power Integrations from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.67.

Power Integrations Stock Up 5.8%

The firm has a 50 day moving average price of $61.21 and a 200 day moving average price of $63.68. The stock has a market cap of $2.94 billion, a P/E ratio of 116.72 and a beta of 1.54.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $118.94 million during the quarter, compared to the consensus estimate of $117.44 million. Power Integrations had a return on equity of 5.50% and a net margin of 5.58%.The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS. Equities analysts predict that Power Integrations, Inc. will post 0.77 earnings per share for the current fiscal year.

Institutional Trading of Power Integrations

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Power Integrations during the second quarter valued at $730,559,000. California State Teachers Retirement System lifted its stake in Power Integrations by 7,858.5% in the 2nd quarter. California State Teachers Retirement System now owns 5,224,027 shares of the semiconductor company’s stock worth $437,565,000 after purchasing an additional 5,158,386 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Power Integrations in the 2nd quarter worth $199,517,000. Snyder Capital Management L P boosted its holdings in shares of Power Integrations by 148.8% during the 4th quarter. Snyder Capital Management L P now owns 2,064,707 shares of the semiconductor company’s stock valued at $73,380,000 after purchasing an additional 1,234,981 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Power Integrations by 1,885.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 943,365 shares of the semiconductor company’s stock valued at $33,528,000 after purchasing an additional 895,857 shares during the last quarter.

About Power Integrations

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.