Power Integrations (NASDAQ:POWI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, December 27th.
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. “
POWI has been the subject of several other reports. Susquehanna Bancshares assumed coverage on shares of Power Integrations in a research note on Wednesday, December 13th. They issued a “neutral” rating and a $80.00 price target for the company. They noted that the move was a valuation call. Stifel Nicolaus restated a “buy” rating and set a $85.00 price objective on shares of Power Integrations in a research note on Wednesday, October 4th. Drexel Hamilton restated a “buy” rating and set a $84.00 price objective on shares of Power Integrations in a research note on Friday, October 27th. Finally, BidaskClub downgraded shares of Power Integrations from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $81.40.
Shares of Power Integrations (NASDAQ:POWI) opened at $78.55 on Wednesday. Power Integrations has a 12-month low of $61.44 and a 12-month high of $86.60. The firm has a market cap of $2,360.00, a price-to-earnings ratio of 40.91 and a beta of 1.27.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.05. The business had revenue of $111.30 million during the quarter, compared to analyst estimates of $111.82 million. Power Integrations had a net margin of 13.69% and a return on equity of 11.95%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 EPS. analysts anticipate that Power Integrations will post 2.06 earnings per share for the current year.
In other Power Integrations news, VP Ben Sutherland sold 500 shares of Power Integrations stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $79.58, for a total transaction of $39,790.00. Following the transaction, the vice president now owns 40,965 shares of the company’s stock, valued at $3,259,994.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven Sharp sold 10,000 shares of Power Integrations stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.49, for a total transaction of $794,900.00. The disclosure for this sale can be found here. In the last three months, insiders sold 63,089 shares of company stock worth $5,077,253. 4.30% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. raised its position in shares of Power Integrations by 14.5% during the second quarter. Advisor Group Inc. now owns 1,827 shares of the semiconductor company’s stock valued at $132,000 after buying an additional 231 shares during the last quarter. Riverhead Capital Management LLC raised its position in shares of Power Integrations by 71.2% during the second quarter. Riverhead Capital Management LLC now owns 2,397 shares of the semiconductor company’s stock valued at $175,000 after buying an additional 997 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Power Integrations by 6.3% during the second quarter. Ameritas Investment Partners Inc. now owns 2,519 shares of the semiconductor company’s stock valued at $184,000 after buying an additional 150 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Power Integrations by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,601 shares of the semiconductor company’s stock valued at $190,000 after buying an additional 391 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Power Integrations during the third quarter valued at approximately $205,000. Hedge funds and other institutional investors own 97.25% of the company’s stock.
Power Integrations Company Profile
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. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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