Power Integrations (NASDAQ:POWI) Cut to Hold at Zacks Research

Zacks Research lowered shares of Power Integrations (NASDAQ:POWI) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks.com reports.

A number of other equities analysts have also recently weighed in on POWI. Benchmark lifted their price target on shares of Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Power Integrations in a research report on Friday, May 8th. Needham & Company LLC began coverage on Power Integrations in a research report on Wednesday, June 10th. They issued a “buy” rating and a $90.00 target price on the stock. Susquehanna boosted their target price on shares of Power Integrations from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Finally, Northland Securities lowered Power Integrations from an “outperform” rating to a “market perform” rating and set a $46.00 price objective on the stock. in a research note on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $76.20.

Power Integrations Price Performance

Shares of Power Integrations stock opened at $72.49 on Monday. The firm has a 50 day simple moving average of $76.78 and a 200 day simple moving average of $60.37. Power Integrations has a fifty-two week low of $30.86 and a fifty-two week high of $91.18. The firm has a market cap of $4.04 billion, a P/E ratio of 241.64, a P/E/G ratio of 3.81 and a beta of 1.57.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The business had revenue of $108.31 million for the quarter, compared to analysts’ expectations of $106.75 million. Power Integrations had a return on equity of 5.34% and a net margin of 3.72%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 earnings per share. On average, sell-side analysts expect that Power Integrations will post 0.76 EPS for the current year.

Power Integrations Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, May 29th. Power Integrations’s dividend payout ratio is currently 286.67%.

Insiders Place Their Bets

In other news, Director Balu Balakrishnan sold 124,287 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $86.44, for a total value of $10,743,368.28. Following the completion of the transaction, the director owned 279,516 shares of the company’s stock, valued at $24,161,363.04. This represents a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Nicholas Brathwaite sold 6,895 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $72.41, for a total transaction of $499,266.95. Following the completion of the transaction, the director owned 30,609 shares of the company’s stock, valued at approximately $2,216,397.69. This trade represents a 18.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 334,772 shares of company stock valued at $27,322,535 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of POWI. Covestor Ltd increased its stake in shares of Power Integrations by 13.8% in the fourth quarter. Covestor Ltd now owns 2,064 shares of the semiconductor company’s stock valued at $73,000 after buying an additional 251 shares during the period. Baird Financial Group Inc. boosted its holdings in Power Integrations by 5.4% in the first quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company’s stock valued at $255,000 after acquiring an additional 261 shares during the last quarter. Cetera Investment Advisers raised its holdings in Power Integrations by 2.7% during the 4th quarter. Cetera Investment Advisers now owns 12,972 shares of the semiconductor company’s stock worth $461,000 after purchasing an additional 340 shares during the last quarter. First National Bank of Omaha raised its holdings in Power Integrations by 0.8% during the 4th quarter. First National Bank of Omaha now owns 46,047 shares of the semiconductor company’s stock worth $1,637,000 after purchasing an additional 366 shares during the last quarter. Finally, Orion Porfolio Solutions LLC lifted its position in shares of Power Integrations by 3.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,531 shares of the semiconductor company’s stock worth $756,000 after purchasing an additional 389 shares during the period.

Power Integrations Company Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.