Power Integrations (NASDAQ:POWI) PT Lowered to $78.00

Power Integrations (NASDAQ:POWI) had its price objective dropped by Benchmark from $90.00 to $78.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Benchmark’s target price would indicate a potential upside of 30.52% from the stock’s previous close.

POWI has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft cut their price objective on Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a research report on Wednesday. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target (down from $100.00) on shares of Power Integrations in a research note on Monday. Finally, TD Cowen lowered their price objective 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $79.67.

Power Integrations Trading Down 7.0 %

NASDAQ:POWI traded down $4.51 during trading hours on Wednesday, hitting $59.76. The company had a trading volume of 1,074,590 shares, compared to its average volume of 402,964. Power Integrations has a 1 year low of $59.63 and a 1 year high of $89.68. The company has a 50-day moving average of $72.58 and a 200 day moving average of $72.54. The company has a market cap of $3.39 billion, a P/E ratio of 65.45, a P/E/G ratio of 3.81 and a beta of 1.11.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. Power Integrations had a net margin of 12.28% and a return on equity of 6.13%. The business had revenue of $106.20 million during the quarter, compared to analysts’ expectations of $105.02 million. During the same quarter in the prior year, the company posted $0.27 EPS. The business’s revenue for the quarter was down 13.8% on a year-over-year basis. On average, analysts forecast that Power Integrations will post 0.73 earnings per share for the current year.

Insider Activity

In other news, VP Radu Barsan sold 1,837 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $76.56, for a total value of $140,640.72. Following the completion of the transaction, the vice president now owns 40,945 shares of the company’s stock, valued at $3,134,749.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Radu Barsan sold 1,837 shares of Power Integrations stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $76.56, for a total value of $140,640.72. Following the completion of the transaction, the vice president now owns 40,945 shares in the company, valued at $3,134,749.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Nayyar sold 4,839 shares of Power Integrations stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $77.25, for a total transaction of $373,812.75. Following the completion of the transaction, the chief financial officer now owns 90,198 shares of the company’s stock, valued at approximately $6,967,795.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,100 shares of company stock valued at $2,481,667. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in Power Integrations in the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. lifted its position in shares of Power Integrations by 369.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 408 shares of the semiconductor company’s stock worth $33,000 after buying an additional 321 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Power Integrations during the 1st quarter worth approximately $51,000. Fidelis Capital Partners LLC purchased a new stake in shares of Power Integrations during the 1st quarter worth approximately $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Power Integrations during the 2nd quarter worth approximately $63,000.

About Power Integrations

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.