Power Integrations (NASDAQ:POWI) Stock Rating Upgraded by Zacks Research

Power Integrations (NASDAQ:POWI) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other brokerages have also recently weighed in on POWI. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Power Integrations in a report on Friday, May 8th. Susquehanna upped their target price on Power Integrations from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Power Integrations in a report on Friday, May 8th. Needham & Company LLC began coverage on Power Integrations in a report on Wednesday, June 10th. They set a “buy” rating and a $90.00 price target for the company. Finally, Benchmark raised their price objective on shares of Power Integrations from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Power Integrations presently has an average rating of “Moderate Buy” and an average target price of $76.20.

Power Integrations Stock Down 4.2%

Shares of POWI opened at $80.27 on Tuesday. The company has a market cap of $4.47 billion, a P/E ratio of 267.58, a PEG ratio of 3.64 and a beta of 1.57. Power Integrations has a fifty-two week low of $30.86 and a fifty-two week high of $91.18. The firm’s 50 day moving average price is $77.11 and its 200 day moving average price is $56.72.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. Power Integrations had a net margin of 3.72% and a return on equity of 5.34%. The business had revenue of $108.31 million during the quarter, compared to the consensus estimate of $106.75 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts forecast that Power Integrations will post 0.89 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Nicholas Brathwaite sold 6,895 shares of Power Integrations stock in a transaction dated 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 sale, the director directly owned 30,609 shares in the company, valued at $2,216,397.69. The trade was a 18.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Sunil Gupta sold 15,894 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $82.18, for a total value of $1,306,168.92. Following the completion of the transaction, the vice president owned 71,239 shares of the company’s stock, valued at $5,854,421.02. This trade represents a 18.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 334,772 shares of company stock worth $27,322,535. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in shares of Power Integrations by 97.8% in the 1st quarter. Pacer Advisors Inc. now owns 3,896 shares of the semiconductor company’s stock worth $199,000 after purchasing an additional 1,926 shares during the period. Cim Investment Management Inc. acquired a new position in Power Integrations during the first quarter valued at approximately $246,000. Bank of America Corp DE lifted its position in Power Integrations by 1.1% during the first quarter. Bank of America Corp DE now owns 601,468 shares of the semiconductor company’s stock valued at $30,795,000 after buying an additional 6,633 shares in the last quarter. Amundi grew its stake in Power Integrations by 10.1% during the first quarter. Amundi now owns 11,485 shares of the semiconductor company’s stock worth $588,000 after buying an additional 1,050 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Power Integrations by 125.5% in the first quarter. EverSource Wealth Advisors LLC now owns 814 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 453 shares in the last quarter.

About Power Integrations

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.