Power Integrations Inc. (POWI) Stock Rating Reaffirmed by Stifel Nicolaus
Power Integrations Inc. (NASDAQ:POWI)‘s stock had its “buy” rating reissued by analysts at Stifel Nicolaus in a research note issued to investors on Thursday. They currently have a $70.00 price target on the stock, up from their previous price target of $63.00. Stifel Nicolaus’ price target indicates a potential upside of 11.39% from the stock’s previous close.
Several other brokerages have also recently issued reports on POWI. Zacks Investment Research cut Power Integrations from a “buy” rating to a “hold” rating in a report on Thursday, September 29th. Sidoti cut Power Integrations from a “buy” rating to a “neutral” rating in a report on Thursday, June 23rd. Finally, Deutsche Bank AG lifted their price objective on Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $62.80.
Power Integrations (NASDAQ:POWI) opened at 62.84 on Thursday. Power Integrations has a 12-month low of $39.53 and a 12-month high of $64.73. The stock’s 50 day moving average price is $60.77 and its 200-day moving average price is $53.51. The stock has a market capitalization of $1.82 billion, a PE ratio of 41.78 and a beta of 1.13.
Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.09. Power Integrations had a return on equity of 11.64% and a net margin of 12.36%. The firm had revenue of $97.20 million for the quarter, compared to the consensus estimate of $91.22 million. During the same period in the previous year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. Analysts expect that Power Integrations will post $2.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st were issued a $0.13 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.83%. Power Integrations’s dividend payout ratio (DPR) is 34.44%.
In related news, insider Balu Balakrishnan sold 14,400 shares of the company’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $63.61, for a total value of $915,984.00. Following the completion of the transaction, the insider now directly owns 220,130 shares in the company, valued at $14,002,469.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ben Sutherland sold 4,848 shares of the company’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $62.50, for a total value of $303,000.00. Following the completion of the transaction, the vice president now owns 24,705 shares of the company’s stock, valued at $1,544,062.50. The disclosure for this sale can be found here. 5.70% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in POWI. Vanguard Group Inc. raised its position in Power Integrations by 2.1% in the second quarter. Vanguard Group Inc. now owns 2,206,875 shares of the company’s stock valued at $110,498,000 after buying an additional 45,940 shares during the last quarter. BlackRock Fund Advisors raised its position in Power Integrations by 0.4% in the second quarter. BlackRock Fund Advisors now owns 1,813,478 shares of the company’s stock valued at $90,801,000 after buying an additional 7,583 shares during the last quarter. Bank of New York Mellon Corp raised its position in Power Integrations by 32.5% in the second quarter. Bank of New York Mellon Corp now owns 1,064,064 shares of the company’s stock valued at $53,277,000 after buying an additional 260,844 shares during the last quarter. Fiera Capital Corp acquired a new position in Power Integrations during the second quarter valued at approximately $41,542,000. Finally, Dimensional Fund Advisors LP raised its position in Power Integrations by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 735,222 shares of the company’s stock valued at $36,812,000 after buying an additional 63,320 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.
About Power Integrations
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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