BidaskClub Lowers Power Integrations (NASDAQ:POWI) to Hold

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BidaskClub cut shares of Power Integrations (NASDAQ:POWI) from a buy rating to a hold rating in a report released on Thursday morning, BidAskClub reports.

A number of other equities analysts also recently commented on POWI. Northland Securities restated a hold rating on shares of Lendingtree in a research note on Friday, April 26th. Loop Capital restated a hold rating and set a $76.00 price objective on shares of Power Integrations in a research note on Tuesday, June 18th. Finally, Zacks Investment Research restated a hold rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $71.50.

Power Integrations stock opened at $79.52 on Thursday. The business’s 50-day simple moving average is $72.68. Power Integrations has a one year low of $47.35 and a one year high of $83.94. The firm has a market cap of $2.33 billion, a P/E ratio of 41.42 and a beta of 1.30.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.19. Power Integrations had a net margin of 15.67% and a return on equity of 10.86%. The company had revenue of $89.19 million during the quarter, compared to the consensus estimate of $90.10 million. During the same period in the prior year, the business posted $0.67 EPS. The company’s quarterly revenue was down 13.5% on a year-over-year basis. On average, research analysts expect that Power Integrations will post 1.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were issued a $0.17 dividend. The ex-dividend date was Thursday, May 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.86%. Power Integrations’s payout ratio is 31.78%.

In other news, CFO Sandeep Nayyar sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $79.94, for a total transaction of $399,700.00. Following the transaction, the chief financial officer now directly owns 82,512 shares of the company’s stock, valued at $6,596,009.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Doug Bailey sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $82.00, for a total transaction of $82,000.00. Following the transaction, the vice president now directly owns 58,298 shares in the company, valued at $4,780,436. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,000 shares of company stock worth $1,572,450. Insiders own 4.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Scout Investments Inc. increased its holdings in shares of Power Integrations by 63.7% during the second quarter. Scout Investments Inc. now owns 93,822 shares of the semiconductor company’s stock worth $7,523,000 after purchasing an additional 36,523 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Power Integrations by 8.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 55,436 shares of the semiconductor company’s stock worth $3,878,000 after purchasing an additional 4,442 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Power Integrations by 56.8% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 258,490 shares of the semiconductor company’s stock worth $18,079,000 after purchasing an additional 93,600 shares during the period. AlphaCrest Capital Management LLC bought a new position in shares of Power Integrations during the first quarter worth approximately $304,000. Finally, Cutler Group LP increased its holdings in shares of Power Integrations by 222.2% during the first quarter. Cutler Group LP now owns 1,305 shares of the semiconductor company’s stock worth $91,000 after purchasing an additional 900 shares during the period. 97.61% of the stock is currently owned by institutional investors.

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 worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 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, and other consumer and industrial applications, as well as light-emitting diode lighting.

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