Power Integrations (NASDAQ:POWI) Price Target Lowered to $70.00 at TD Cowen

Power Integrations (NASDAQ:POWI) had its price objective cut by TD Cowen from $80.00 to $70.00 in a research note issued to investors on Wednesday, Marketbeat reports. They currently have a hold rating on the semiconductor company’s stock.

Several other equities research analysts also recently issued reports on the company. Benchmark reaffirmed a buy rating and set a $90.00 price target on shares of Power Integrations in a report on Friday, June 7th. Stifel Nicolaus restated a buy rating and set a $95.00 target price (down previously from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Power Integrations has an average rating of Hold and a consensus target price of $76.33.

Power Integrations Price Performance

POWI stock traded down $0.56 during trading hours on Wednesday, reaching $60.36. The stock had a trading volume of 465,216 shares, compared to its average volume of 427,034. The stock has a market capitalization of $3.43 billion, a PE ratio of 65.61, a price-to-earnings-growth ratio of 3.58 and a beta of 1.11. The stock has a 50-day simple moving average of $71.66 and a 200 day simple moving average of $72.15. Power Integrations has a fifty-two week low of $59.63 and a fifty-two week high of $89.68.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $106.20 million during the quarter, compared to analysts’ expectations of $105.02 million. Power Integrations had a return on equity of 4.82% and a net margin of 10.38%. Power Integrations’s quarterly revenue was down 13.8% on a year-over-year basis. During the same quarter last year, the company posted $0.27 earnings per share. On average, sell-side analysts forecast that Power Integrations will post 0.73 EPS for the current fiscal year.

Power Integrations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, August 30th. Power Integrations’s payout ratio is presently 86.96%.

Insider Activity at Power Integrations

In other news, insider David Mh Matthews sold 9,500 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $77.17, for a total value of $733,115.00. Following the completion of the transaction, the insider now owns 53,729 shares of the company’s stock, valued at $4,146,266.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider David Mh Matthews sold 9,500 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $77.17, for a total transaction of $733,115.00. Following the sale, the insider now owns 53,729 shares in the company, valued at approximately $4,146,266.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Nayyar sold 4,839 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $77.25, for a total value of $373,812.75. Following the completion of the transaction, the chief financial officer now directly owns 90,198 shares of the company’s stock, valued at approximately $6,967,795.50. The disclosure for this sale can be found here. Insiders have sold 32,100 shares of company stock valued at $2,481,667 over the last ninety days. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new stake in Power Integrations in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. boosted its position in shares of Power Integrations by 369.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 408 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 321 shares in the last quarter. Mather Group LLC. acquired a new stake in Power Integrations during the first quarter worth approximately $51,000. Fidelis Capital Partners LLC bought a new stake in Power Integrations in the first quarter worth approximately $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Power Integrations in the second quarter valued at approximately $63,000.

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.