Zacks Investment Research Upgrades Power Integrations (NASDAQ:POWI) to Buy

Zacks Investment Research upgraded shares of Power Integrations (NASDAQ:POWI) from a hold rating to a buy rating in a research report report published on Saturday, Zacks.com reports. Zacks Investment Research currently has $105.00 price target on the semiconductor company’s stock.

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 analysts have also recently issued reports about the company. Northland Securities reaffirmed an underperform rating and issued a $70.00 target price on shares of Power Integrations in a report on Monday, July 29th. Stifel Nicolaus set a $97.00 target price on Power Integrations and gave the stock a buy rating in a report on Friday, July 26th. Loop Capital reaffirmed a hold rating and issued a $76.00 target price on shares of Power Integrations in a report on Tuesday, June 18th. Deutsche Bank set a $80.00 target price on Power Integrations and gave the stock a hold rating in a report on Friday, July 26th. Finally, BidaskClub raised Power Integrations from a buy rating to a strong-buy rating in a report on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Power Integrations presently has an average rating of Hold and a consensus price target of $85.60.

Shares of Power Integrations stock opened at $91.62 on Friday. Power Integrations has a one year low of $47.35 and a one year high of $102.38. The stock’s fifty day moving average is $88.06 and its 200 day moving average is $77.82. The stock has a market cap of $2.73 billion, a P/E ratio of 42.81 and a beta of 1.26.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 0.74%. Power Integrations’s dividend payout ratio is presently 31.78%.

In other Power Integrations news, Director William George sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $85.00, for a total transaction of $680,000.00. Following the sale, the director now directly owns 39,345 shares of the company’s stock, valued at $3,344,325. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Doug Bailey sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $93.38, for a total value of $186,760.00. Following the sale, the vice president now directly owns 59,298 shares in the company, valued at $5,537,247.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,425 shares of company stock worth $4,169,329. Insiders own 4.10% of the company’s stock.

Large investors have recently bought and sold shares of the business. Huntington National Bank raised 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 valued at $84,000 after acquiring an additional 173 shares during the period. Cutler Group LP raised 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 valued at $91,000 after acquiring an additional 900 shares during the period. ETF Managers Group LLC raised 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 valued at $147,000 after acquiring an additional 199 shares during the period. Magnus Financial Group LLC bought a new stake in Power Integrations during the second quarter valued at about $220,000. Finally, CAPROCK Group Inc. bought a new stake in Power Integrations during the second quarter valued at about $224,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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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