Power Integrations (NASDAQ:POWI) Upgraded to “Buy” at BidaskClub

Power Integrations (NASDAQ:POWI) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday, BidAskClub reports.

Several other research firms also recently commented on POWI. Loop Capital reissued a “hold” rating and issued a $76.00 target price on shares of Power Integrations in a research report on Tuesday, June 18th. Stifel Nicolaus raised shares of Power Integrations from a “hold” rating to a “buy” rating and boosted their target price for the stock from $74.00 to $90.00 in a research report on Wednesday. Zacks Investment Research reaffirmed a “hold” rating on shares of Western New England Bancorp in a report on Saturday, June 29th. Finally, Northland Securities reaffirmed a “hold” rating on shares of Lendingtree in a report on Friday, April 26th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $75.25.

POWI stock opened at $83.04 on Friday. The company has a market capitalization of $2.43 billion, a P/E ratio of 43.25 and a beta of 1.30. Power Integrations has a 12 month low of $47.35 and a 12 month high of $84.74. The business has a 50 day simple moving average of $74.61.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, April 25th. The semiconductor company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.19. The company had revenue of $89.19 million during the quarter, compared to the consensus estimate of $90.10 million. Power Integrations had a net margin of 15.67% and a return on equity of 10.86%. The company’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. As a group, equities research analysts forecast that Power Integrations will post 1.66 earnings per share for the current year.

In related news, VP Doug Bailey sold 1,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $65.31, for a total transaction of $65,310.00. Following the completion of the sale, the vice president now directly owns 59,298 shares of the company’s stock, valued at approximately $3,872,752.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Clifford Walker sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $78.76, for a total transaction of $787,600.00. Following the sale, the vice president now directly owns 91,702 shares of the company’s stock, valued at $7,222,449.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,000 shares of company stock valued at $1,572,450. 4.10% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its stake in Power Integrations by 13.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 68,391 shares of the semiconductor company’s stock valued at $4,783,000 after purchasing an additional 7,988 shares during the last quarter. Bank of Montreal Can raised its stake in Power Integrations by 5.0% during the 1st quarter. Bank of Montreal Can now owns 3,739 shares of the semiconductor company’s stock valued at $261,000 after purchasing an additional 179 shares during the last quarter. Amalgamated Bank acquired a new position in Power Integrations during the 4th quarter valued at $273,000. Victory Capital Management Inc. acquired a new position in Power Integrations during the 1st quarter valued at $264,000. Finally, Hsbc Holdings PLC raised its stake in Power Integrations by 10.2% during the 4th quarter. Hsbc Holdings PLC now owns 3,662 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 97.61% 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 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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