Power Integrations Inc (NASDAQ:POWI) Given Consensus Rating of “Buy” by Brokerages

Shares of Power Integrations Inc (NASDAQ:POWI) have received a consensus rating of “Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $84.20.

POWI has been the topic of a number of recent research reports. Stifel Nicolaus set a $97.00 price objective on shares of Power Integrations and gave the company a “buy” rating in a research note on Friday, July 26th. Northland Securities restated an “underperform” rating and issued a $70.00 price objective on shares of Power Integrations in a research note on Monday, July 29th. Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Thursday. Loop Capital restated a “hold” rating and issued a $76.00 price objective on shares of Power Integrations in a research note on Tuesday, June 18th. Finally, BidaskClub upgraded shares of Power Integrations from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 27th.

NASDAQ:POWI traded down $4.32 during midday trading on Friday, hitting $82.89. 151,830 shares of the company were exchanged, compared to its average volume of 197,692. The company has a fifty day simple moving average of $85.23 and a 200 day simple moving average of $75.72. Power Integrations has a fifty-two week low of $47.35 and a fifty-two week high of $102.38. The company has a market capitalization of $2.56 billion, a PE ratio of 38.73 and a beta of 1.29.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.03. Power Integrations had a net margin of 14.79% and a return on equity of 9.87%. The firm had revenue of $102.87 million for the quarter, compared to analyst estimates of $100.04 million. During the same period last year, the business earned $0.74 EPS. Power Integrations’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities analysts anticipate that Power Integrations will post 1.78 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be paid a $0.17 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 0.82%. Power Integrations’s dividend payout ratio is presently 31.78%.

In other news, CEO Balu Balakrishnan sold 9,367 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $93.15, for a total transaction of $872,536.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Doug Bailey sold 1,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $82.00, for a total transaction of $82,000.00. Following the transaction, the vice president now owns 58,298 shares in the company, valued at $4,780,436. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,284 shares of company stock worth $3,590,090. 4.10% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC increased its stake in shares of Power Integrations by 1,426.5% during the first quarter. Quadrant Capital Group LLC now owns 748 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 699 shares during the period. Huntington National Bank boosted its holdings in Power Integrations by 19.9% during the second quarter. Huntington National Bank now owns 1,042 shares of the semiconductor company’s stock worth $84,000 after buying an additional 173 shares in the last quarter. Cutler Group LP boosted its holdings in Power Integrations by 222.2% during the first quarter. Cutler Group LP now owns 1,305 shares of the semiconductor company’s stock worth $91,000 after buying an additional 900 shares in the last quarter. ETF Managers Group LLC boosted its holdings in Power Integrations by 10.5% during the first quarter. ETF Managers Group LLC now owns 2,103 shares of the semiconductor company’s stock worth $147,000 after buying an additional 199 shares in the last quarter. Finally, Magnus Financial Group LLC purchased a new stake in Power Integrations during the second quarter worth about $220,000. Institutional investors and hedge funds own 96.83% of the company’s stock.

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 worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, and other consumer and industrial applications, as well as light-emitting diode lighting.

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