Benchmark Reiterates “Buy” Rating for Power Integrations (NASDAQ:POWI)

Power Integrations (NASDAQ:POWI)‘s stock had its “buy” rating reiterated by equities researchers at Benchmark in a report released on Wednesday, Benzinga reports. They presently have a $78.00 price target on the semiconductor company’s stock. Benchmark’s price target points to a potential upside of 34.67% from the stock’s current price.

A number of other research firms also recently weighed in on POWI. Northland Securities upgraded Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Monday, August 12th. StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a research note on Friday, August 16th. Susquehanna cut their price objective on Power Integrations from $95.00 to $80.00 and set a “positive” rating on the stock in a research note on Thursday, August 8th. TD Cowen decreased their target price on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $95.00 price target (down previously from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Power Integrations has an average rating of “Moderate Buy” and a consensus price target of $78.50.

Power Integrations Stock Up 0.1 %

Power Integrations stock opened at $57.92 on Wednesday. The stock has a market cap of $3.29 billion, a PE ratio of 62.96, a P/E/G ratio of 4.61 and a beta of 1.10. Power Integrations has a 12-month low of $56.64 and a 12-month high of $89.68. The business’s 50-day moving average price is $67.52 and its two-hundred day moving average price is $70.26.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. Power Integrations had a net margin of 10.38% and a return on equity of 4.86%. The business had revenue of $106.20 million during the quarter, compared to analysts’ expectations of $105.02 million. During the same period in the prior year, the company earned $0.27 EPS. The firm’s quarterly revenue was down 13.8% compared to the same quarter last year. As a group, analysts expect that Power Integrations will post 0.6 earnings per share for the current year.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, VP Sunil Gupta sold 2,127 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total value of $140,169.30. Following the transaction, the vice president now directly owns 51,899 shares in the company, valued at $3,420,144.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Yang Chiah Yee sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $73.75, for a total transaction of $104,135.00. Following the sale, the vice president now directly owns 45,436 shares in the company, valued at approximately $3,350,905. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sunil Gupta sold 2,127 shares of Power Integrations stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total transaction of $140,169.30. Following the completion of the transaction, the vice president now owns 51,899 shares of the company’s stock, valued at $3,420,144.10. The disclosure for this sale can be found here. Insiders sold 3,704 shares of company stock worth $255,359 in the last quarter. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Power Integrations

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Power Integrations by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 6,528,564 shares of the semiconductor company’s stock valued at $467,119,000 after acquiring an additional 105,034 shares during the last quarter. Capital International Investors lifted its position in Power Integrations by 6.5% during the first quarter. Capital International Investors now owns 1,316,934 shares of the semiconductor company’s stock valued at $94,227,000 after purchasing an additional 80,775 shares during the last quarter. Ceredex Value Advisors LLC grew its stake in Power Integrations by 4.8% in the 2nd quarter. Ceredex Value Advisors LLC now owns 756,282 shares of the semiconductor company’s stock worth $53,083,000 after buying an additional 34,400 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Power Integrations by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 719,948 shares of the semiconductor company’s stock valued at $59,115,000 after buying an additional 10,740 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Power Integrations by 23.4% during the 2nd quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock worth $41,634,000 after acquiring an additional 112,595 shares during 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.