Power Integrations (NASDAQ:POWI) Raised to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Power Integrations (NASDAQ:POWI) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning, BidAskClub reports.

A number of other brokerages 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 note on Tuesday, June 18th. Northland Securities reissued a hold rating on shares of Lendingtree in a research note on Friday, April 26th. Stifel Nicolaus raised shares of Power Integrations from a hold rating to a buy rating and raised their target price for the company from $74.00 to $90.00 in a research note on Wednesday, July 17th. Finally, Zacks Investment Research reissued a hold rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $81.20.

Shares of POWI stock opened at $91.05 on Friday. The company has a fifty day simple moving average of $79.25. Power Integrations has a 52 week low of $47.35 and a 52 week high of $102.38. The stock has a market cap of $2.67 billion, a P/E ratio of 42.55 and a beta of 1.29.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Thursday, July 25th. The semiconductor company reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.03. Power Integrations had a net margin of 14.79% and a return on equity of 9.87%. The business had revenue of $102.87 million for the quarter, compared to the consensus estimate of $100.04 million. During the same quarter last year, the firm posted $0.74 EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. Analysts forecast that Power Integrations will post 1.66 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 30th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, August 29th. Power Integrations’s payout ratio is 31.78%.

In related news, VP Doug Bailey sold 1,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $82.00, for a total transaction of $82,000.00. Following the completion of the sale, the vice president now directly owns 58,298 shares of the company’s stock, valued at approximately $4,780,436. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sandeep Nayyar sold 5,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $79.94, for a total transaction of $399,700.00. Following the sale, the chief financial officer now directly owns 82,512 shares of the company’s stock, valued at $6,596,009.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,000 shares of company stock valued at $547,010. Company insiders own 4.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Eqis Capital Management Inc. grew its holdings in Power Integrations by 2.6% during the 2nd quarter. Eqis Capital Management Inc. now owns 5,726 shares of the semiconductor company’s stock worth $459,000 after acquiring an additional 144 shares in the last quarter. Huntington National Bank grew its holdings in Power Integrations by 19.9% during the 2nd quarter. Huntington National Bank now owns 1,042 shares of the semiconductor company’s stock worth $84,000 after acquiring an additional 173 shares in the last quarter. Mason Street Advisors LLC grew its holdings in Power Integrations by 1.9% during the 1st quarter. Mason Street Advisors LLC now owns 9,282 shares of the semiconductor company’s stock worth $649,000 after acquiring an additional 174 shares in the last quarter. Bank of Montreal Can grew its holdings 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 worth $261,000 after acquiring an additional 179 shares in the last quarter. Finally, ETF Managers Group LLC grew its holdings in Power Integrations by 10.5% during the 1st quarter. ETF Managers Group LLC now owns 2,103 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 199 shares in the last quarter. 97.65% of the stock is owned by 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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