Power Integrations (NASDAQ:POWI) Issues Quarterly Earnings Results

Power Integrations (NASDAQ:POWI) posted its earnings results on Thursday. The semiconductor company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.02, MarketWatch Earnings reports. Power Integrations had a net margin of 45.94% and a return on equity of 9.66%. The firm had revenue of $106.83 million during the quarter, compared to the consensus estimate of $106.20 million. Power Integrations updated its Q3 2020
After-Hours guidance to EPS.

Shares of POWI traded down $3.60 during mid-day trading on Friday, hitting $122.03. The company had a trading volume of 489,808 shares, compared to its average volume of 180,356. The business’s 50-day simple moving average is $119.07 and its 200-day simple moving average is $103.77. Power Integrations has a 1-year low of $77.14 and a 1-year high of $127.39. The stock has a market cap of $3.64 billion, a PE ratio of 17.89 and a beta of 1.04.

In related news, CEO Balu Balakrishnan sold 24,455 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $109.25, for a total value of $2,671,708.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Doug Bailey sold 500 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $121.00, for a total transaction of $60,500.00. Following the completion of the sale, the vice president now directly owns 59,861 shares in the company, valued at $7,243,181. The disclosure for this sale can be found here. Insiders sold 55,099 shares of company stock worth $6,093,654 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Several equities analysts have weighed in on POWI shares. Stifel Nicolaus raised their target price on shares of Power Integrations from $105.00 to $119.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Loop Capital reaffirmed a “buy” rating and set a $117.00 price target on shares of Power Integrations in a research note on Monday, May 18th. Zacks Investment Research cut shares of Power Integrations from a “hold” rating to a “sell” rating in a research note on Thursday, July 16th. BidaskClub raised shares of Power Integrations from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Finally, Deutsche Bank raised their price target on shares of Power Integrations from $93.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $114.50.

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.

Further Reading: Sell-Side Analysts

Earnings History for Power Integrations (NASDAQ:POWI)

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