Zacks Research Upgrades Power Integrations (NASDAQ:POWI) to “Strong-Buy”

Power Integrations (NASDAQ:POWI) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Power Integrations in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Benchmark lifted their price target on Power Integrations from $55.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 6th. Needham & Company LLC initiated coverage on shares of Power Integrations in a research note on Wednesday, June 10th. They set a “buy” rating and a $90.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on shares of Power Integrations from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Power Integrations has an average rating of “Moderate Buy” and an average target price of $76.20.

Power Integrations Stock Performance

Shares of POWI opened at $80.27 on Tuesday. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 267.58, a PEG ratio of 3.64 and a beta of 1.57. The company’s 50 day simple moving average is $77.11 and its 200 day simple moving average is $56.72. Power Integrations has a 1 year low of $30.86 and a 1 year high of $91.18.

Power Integrations (NASDAQ:POWI) last released its earnings results on Thursday, May 7th. The semiconductor company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The firm had revenue of $108.31 million during the quarter, compared to analysts’ expectations of $106.75 million. Power Integrations had a net margin of 3.72% and a return on equity of 5.34%. Power Integrations’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. Equities analysts expect that Power Integrations will post 0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Balu Balakrishnan sold 124,287 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $86.44, for a total value of $10,743,368.28. Following the transaction, the director directly owned 279,516 shares in the company, valued at $24,161,363.04. This trade represents a 30.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nicholas Brathwaite sold 1,728 shares of Power Integrations stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $86.62, for a total value of $149,679.36. Following the completion of the transaction, the director directly owned 22,226 shares in the company, valued at $1,925,216.12. This represents a 7.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 334,772 shares of company stock worth $27,322,535 over the last three months. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of POWI. Geneos Wealth Management Inc. grew its stake in Power Integrations by 576.3% during the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock worth $32,000 after buying an additional 536 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Power Integrations in the 4th quarter valued at $36,000. UMB Bank n.a. lifted its holdings in shares of Power Integrations by 61.7% during the 4th quarter. UMB Bank n.a. now owns 1,074 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 410 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Power Integrations by 125.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 814 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 453 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Power Integrations during the 4th quarter worth $48,000.

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.