Zacks Investment Research Downgrades Power Integrations Inc. (POWI) to Hold
Power Integrations Inc. (NASDAQ:POWI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Power Integrations, Inc. designs, develops, manufactures and markets proprietary, high-voltage, analog integrated circuits for use primarily in alternating current to direct current power conversion. The company has targeted high-volume power supply markets including: the cellular telephone market, the personal computer market, the cable and direct broadcast satellite decoder box market, and various other consumer and industrial electronics markets. “
Several other analysts have also recently commented on POWI. Sidoti cut shares of Power Integrations from a “buy” rating to a “neutral” rating in a research note on Thursday, June 23rd. Deutsche Bank AG increased their price target on shares of Power Integrations from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $60.40.
Power Integrations (NASDAQ:POWI) opened at 63.03 on Thursday. The firm has a 50-day moving average price of $59.18 and a 200-day moving average price of $52.51. Power Integrations has a 52 week low of $39.53 and a 52 week high of $63.26. The firm has a market capitalization of $1.82 billion, a P/E ratio of 41.91 and a beta of 1.13.
Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.09. Power Integrations had a net margin of 12.36% and a return on equity of 11.64%. The business had revenue of $97.20 million for the quarter, compared to analysts’ expectations of $91.22 million. During the same period in the prior year, the firm earned $0.47 earnings per share. Power Integrations’s revenue was up 14.0% compared to the same quarter last year. Equities analysts forecast that Power Integrations will post $2.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st were paid a $0.13 dividend. The ex-dividend date was Monday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 0.83%. Power Integrations’s payout ratio is presently 34.44%.
In other Power Integrations news, VP Doug Bailey sold 460 shares of the stock in a transaction on Monday, September 19th. The shares were sold at an average price of $60.00, for a total value of $27,600.00. Following the sale, the vice president now directly owns 26,759 shares in the company, valued at $1,605,540. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Balu Balakrishnan sold 5,000 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the sale, the chief executive officer now owns 210,730 shares in the company, valued at $11,590,150. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Power Integrations by 125.5% in the first quarter. BlackRock Inc. now owns 2,142 shares of the company’s stock valued at $106,000 after buying an additional 1,192 shares during the period. Bank of Montreal Can purchased a new stake in Power Integrations during the second quarter valued at $175,000. PineBridge Investments L.P. raised its stake in Power Integrations by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,653 shares of the company’s stock valued at $183,000 after buying an additional 144 shares during the period. Teacher Retirement System of Texas raised its stake in Power Integrations by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,976 shares of the company’s stock valued at $199,000 after buying an additional 482 shares during the period. Finally, Globeflex Capital L P purchased a new stake in Power Integrations during the second quarter valued at $215,000. Institutional investors own 97.78% of the company’s stock.
Power Integrations Company Profile
Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs) and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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