Power Integrations (NASDAQ:POWI) Receives “Buy” Rating from Benchmark

Benchmark reiterated their buy rating on shares of Power Integrations (NASDAQ:POWI) in a report released on Wednesday,Benzinga reports. The brokerage currently has a $50.00 price objective on the semiconductor company’s stock.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Power Integrations in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Power Integrations has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Power Integrations Trading Up 3.2%

Power Integrations stock opened at $37.55 on Wednesday. Power Integrations has a 12 month low of $30.86 and a 12 month high of $68.20. The stock has a fifty day simple moving average of $38.19 and a two-hundred day simple moving average of $45.81. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 121.13, a PEG ratio of 8.24 and a beta of 1.39.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Wednesday, November 5th. The semiconductor company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Power Integrations had a return on equity of 4.49% and a net margin of 4.03%.The firm had revenue of $118.92 million for the quarter, compared to the consensus estimate of $118.36 million. During the same period in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that Power Integrations will post 0.93 EPS for the current fiscal year.

Power Integrations Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, November 28th. Power Integrations’s payout ratio is currently 270.97%.

Insider Buying and Selling

In other news, VP Gagan Jain sold 1,033 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $33.80, for a total value of $34,915.40. Following the transaction, the vice president owned 17,212 shares of the company’s stock, valued at $581,765.60. This trade represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 1,600 shares of company stock valued at $58,272 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Power Integrations

Several hedge funds and other institutional investors have recently added to or reduced their stakes in POWI. Cetera Investment Advisers bought a new position in shares of Power Integrations in the first quarter worth approximately $216,000. XTX Topco Ltd purchased a new position in shares of Power Integrations during the 1st quarter valued at $237,000. PNC Financial Services Group Inc. lifted its stake in shares of Power Integrations by 8.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,493 shares of the semiconductor company’s stock valued at $227,000 after buying an additional 339 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Power Integrations by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 664,214 shares of the semiconductor company’s stock worth $33,543,000 after buying an additional 9,241 shares during the period. Finally, Citigroup Inc. increased its stake in Power Integrations by 12.9% in the 1st quarter. Citigroup Inc. now owns 374,046 shares of the semiconductor company’s stock worth $18,889,000 after buying an additional 42,816 shares in the last quarter.

Power Integrations Company Profile

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.