Power Integrations (POWI) Downgraded by BidaskClub

BidaskClub lowered shares of Power Integrations (NASDAQ:POWI) from a strong-buy rating to a buy rating in a report issued on Tuesday.

Other equities research analysts have also recently issued reports about the company. TheStreet raised Power Integrations from a c+ rating to a b- rating in a research note on Tuesday, December 18th. ValuEngine raised Power Integrations from a hold rating to a buy rating in a research note on Friday, January 25th. Zacks Investment Research raised Power Integrations from a sell rating to a hold rating in a research note on Friday, December 28th. Finally, Northland Securities cut Power Integrations from an outperform rating to a market perform rating in a research note on Monday, January 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $78.50.

Shares of POWI stock opened at $70.13 on Tuesday. The firm has a market capitalization of $2.04 billion, a P/E ratio of 32.77 and a beta of 1.06. Power Integrations has a twelve month low of $47.35 and a twelve month high of $80.50.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Thursday, February 7th. The semiconductor company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.24. The company had revenue of $93.30 million for the quarter, compared to analysts’ expectations of $97.12 million. Power Integrations had a return on equity of 12.19% and a net margin of 16.83%. The firm’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 earnings per share. As a group, analysts predict that Power Integrations will post 1.6 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, February 28th will be paid a $0.17 dividend. This is a boost from Power Integrations’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Wednesday, February 27th. Power Integrations’s dividend payout ratio is currently 31.78%.

In other news, VP David Mh Matthews sold 1,309 shares of the stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $72.92, for a total value of $95,452.28. Following the sale, the vice president now directly owns 59,907 shares of the company’s stock, valued at $4,368,418.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William George sold 511 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $74.00, for a total value of $37,814.00. Following the completion of the sale, the director now directly owns 30,356 shares in the company, valued at $2,246,344. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,965 shares of company stock worth $5,123,593. Insiders own 4.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in POWI. Meeder Asset Management Inc. purchased a new stake in shares of Power Integrations in the fourth quarter worth $54,000. We Are One Seven LLC bought a new position in shares of Power Integrations during the fourth quarter valued at $87,000. ETF Managers Group LLC lifted its holdings in shares of Power Integrations by 15.7% during the fourth quarter. ETF Managers Group LLC now owns 1,904 shares of the semiconductor company’s stock valued at $116,000 after purchasing an additional 258 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Power Integrations by 7.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,870 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 200 shares in the last quarter. Finally, Advisor Group Inc. lifted its holdings in shares of Power Integrations by 15.9% during the fourth quarter. Advisor Group Inc. now owns 3,097 shares of the semiconductor company’s stock valued at $189,000 after purchasing an additional 426 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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 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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