Power Integrations (NASDAQ:POWI) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Power Integrations (NASDAQ:POWI) from a hold rating to a buy rating in a research note published on Saturday morning.

Other research analysts have also issued reports about the company. Stifel Nicolaus decreased their price objective on Power Integrations from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday. Susquehanna lifted their target price on Power Integrations from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Williams Trading set a $80.00 target price on shares of Power Integrations in a research report on Thursday. Needham & Company LLC decreased their price target on shares of Power Integrations from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Power Integrations in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $72.67.

Power Integrations Stock Up 9.5%

Shares of NASDAQ:POWI opened at $64.59 on Friday. Power Integrations has a 12-month low of $30.86 and a 12-month high of $91.18. The stock has a market cap of $3.60 billion, a PE ratio of 143.54 and a beta of 1.58. The business has a 50 day moving average of $73.61 and a 200-day moving average of $62.02.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $118.94 million for the quarter, compared to analyst estimates of $117.44 million. Power Integrations had a return on equity of 5.50% and a net margin of 5.58%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. Equities research analysts expect that Power Integrations will post 0.76 earnings per share for the current year.

Power Integrations Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be given a dividend of $0.215 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.86 dividend on an annualized basis and a yield of 1.3%. Power Integrations’s dividend payout ratio is currently 191.11%.

Insider Buying and Selling at Power Integrations

In related news, Director Nicholas Brathwaite sold 6,895 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $72.41, for a total value of $499,266.95. Following the transaction, the director owned 30,609 shares in the company, valued at approximately $2,216,397.69. This trade represents a 18.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sunil Gupta sold 15,894 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $82.18, for a total value of $1,306,168.92. Following the completion of the transaction, the vice president directly owned 71,239 shares of the company’s stock, valued at approximately $5,854,421.02. This trade represents a 18.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 334,772 shares of company stock valued at $27,322,535 in the last three months. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Power Integrations

Several hedge funds have recently bought and sold shares of POWI. Baird Financial Group Inc. boosted its position in shares of Power Integrations by 5.4% during the 1st quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company’s stock worth $255,000 after acquiring an additional 261 shares in the last quarter. Royal Bank of Canada raised its position in Power Integrations by 5.0% during the first quarter. Royal Bank of Canada now owns 75,792 shares of the semiconductor company’s stock valued at $3,827,000 after purchasing an additional 3,622 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Power Integrations by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,680 shares of the semiconductor company’s stock valued at $1,701,000 after purchasing an additional 1,461 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Power Integrations by 14.9% during the first quarter. Goldman Sachs Group Inc. now owns 572,360 shares of the semiconductor company’s stock worth $28,904,000 after purchasing an additional 74,107 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Power Integrations by 15.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,754 shares of the semiconductor company’s stock worth $8,825,000 after purchasing an additional 23,389 shares during the last quarter.

Power Integrations Company Profile

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.