Power Integrations (NASDAQ:POWI) Downgraded by Zacks Investment Research to Hold

Power Integrations (NASDAQ:POWIGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

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. “

Several other research firms have also recently commented on POWI. Susquehanna raised their price target on shares of Power Integrations from $100.00 to $105.00 and gave the stock a “positive” rating in a report on Monday, March 7th. Susquehanna Bancshares lifted their target price on shares of Power Integrations from $100.00 to $105.00 in a research note on Monday, March 7th. Finally, StockNews.com initiated coverage on shares of Power Integrations in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Power Integrations presently has a consensus rating of “Hold” and a consensus target price of $105.17.

POWI stock opened at $79.17 on Tuesday. The firm has a market capitalization of $4.68 billion, a PE ratio of 29.54 and a beta of 0.98. The stock’s 50 day moving average is $89.00. Power Integrations has a 52 week low of $72.50 and a 52 week high of $110.66.

Power Integrations (NASDAQ:POWIGet Rating) last posted its quarterly earnings results on Thursday, February 3rd. The semiconductor company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.62 by $0.05. The business had revenue of $172.65 million during the quarter, compared to analysts’ expectations of $170.05 million. Power Integrations had a net margin of 23.38% and a return on equity of 18.97%. During the same period last year, the company posted $0.46 earnings per share. Equities research analysts forecast that Power Integrations will post 3.16 EPS for the current fiscal year.

In related news, CEO Balu Balakrishnan sold 23,744 shares of the business’s stock in a transaction on Monday, February 14th. The shares were sold at an average price of $84.72, for a total transaction of $2,011,591.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Clifford Walker sold 638 shares of the business’s stock in a transaction on Wednesday, February 2nd. The stock was sold at an average price of $79.89, for a total transaction of $50,969.82. The disclosure for this sale can be found here. Insiders sold 59,758 shares of company stock valued at $5,130,929 over the last 90 days. 1.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in POWI. Amundi Pioneer Asset Management Inc. increased its holdings in Power Integrations by 8.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 55,436 shares of the semiconductor company’s stock valued at $3,878,000 after buying an additional 4,442 shares during the period. Morgan Stanley increased its holdings in Power Integrations by 26.1% in the 2nd quarter. Morgan Stanley now owns 356,442 shares of the semiconductor company’s stock valued at $29,251,000 after buying an additional 73,782 shares during the period. Park Avenue Securities LLC increased its holdings in Power Integrations by 13.0% in the 3rd quarter. Park Avenue Securities LLC now owns 3,971 shares of the semiconductor company’s stock valued at $393,000 after buying an additional 457 shares during the period. Stephens Inc. AR increased its holdings in Power Integrations by 2.4% in the 3rd quarter. Stephens Inc. AR now owns 5,120 shares of the semiconductor company’s stock valued at $507,000 after buying an additional 118 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its holdings in Power Integrations by 7.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,811 shares of the semiconductor company’s stock valued at $3,545,000 after buying an additional 2,558 shares during the period. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Power Integrations Company Profile (Get Rating)

Power Integrations, Inc designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company provides a range of alternating current to direct current power conversion products that address power supply ranging from less than one 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, LED lighting, and various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.

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