Zacks Investment Research upgraded shares of Power Integrations, Inc. (NASDAQ:POWI) from a hold rating to a buy rating in a report released on Wednesday, November 1st. Zacks Investment Research currently has $90.00 target price on the semiconductor company’s stock.
According to Zacks, “Power Integrations, Inc. is a supplier of high-performance electronic components used in high-voltage power-conversion systems. Their integrated circuits and diodes enable compact, energy-efficient AC-DC power supplies for a vast range of electronic products including mobile devices, TVs, PCs, appliances, smart utility meters and LED lights. Their SCALE IGBT drivers enhance the efficiency, reliability and cost of high-power applications such as industrial motor drives, solar and wind energy systems, electric vehicles and high-voltage DC transmission. Since its introduction, Power Integrations’ EcoSmart® energy-efficiency technology has prevented billions of dollars’ worth of energy waste and millions of tons of carbon emissions. Reflecting the environmental benefits of their products, Power Integrations’ stock is a member of clean-technology stock indices sponsored by Cleantech Group LLC and Clean Edge. “
Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Power Integrations from a strong-buy rating to a buy rating in a report on Wednesday, August 2nd. Stifel Nicolaus restated a buy rating and set a $85.00 target price (up from $82.00) on shares of Power Integrations in a report on Sunday, July 30th. Drexel Hamilton set a $84.00 target price on shares of Power Integrations and gave the company a buy rating in a report on Friday, July 28th. Finally, Deutsche Bank AG downgraded shares of Power Integrations from a buy rating to a hold rating and set a $75.00 target price for the company. in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $83.50.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.05. Power Integrations had a net margin of 13.69% and a return on equity of 11.95%. The firm had revenue of $111.30 million during the quarter, compared to the consensus estimate of $111.82 million. During the same period last year, the firm posted $0.67 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. sell-side analysts predict that Power Integrations will post 2.06 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.70%. Power Integrations’s dividend payout ratio (DPR) is presently 29.02%.
In other news, Director Steven Sharp sold 10,000 shares of Power Integrations stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.49, for a total transaction of $794,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Balu Balakrishnan sold 51,350 shares of Power Integrations stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $80.71, for a total transaction of $4,144,458.50. Following the sale, the chief executive officer now owns 268,226 shares of the company’s stock, valued at $21,648,520.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,978 shares of company stock valued at $5,272,565. Insiders own 4.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC grew its holdings in Power Integrations by 4.6% in the third quarter. Neuberger Berman Group LLC now owns 2,925,039 shares of the semiconductor company’s stock valued at $214,113,000 after purchasing an additional 128,790 shares during the period. California Public Employees Retirement System grew its holdings in Power Integrations by 6.9% in the third quarter. California Public Employees Retirement System now owns 81,554 shares of the semiconductor company’s stock valued at $5,970,000 after purchasing an additional 5,254 shares during the period. Granahan Investment Management Inc. MA grew its holdings in Power Integrations by 63.5% in the third quarter. Granahan Investment Management Inc. MA now owns 96,873 shares of the semiconductor company’s stock valued at $7,091,000 after purchasing an additional 37,639 shares during the period. Jane Street Group LLC purchased a new stake in Power Integrations in the third quarter valued at approximately $205,000. Finally, Nicholas Investment Partners LP purchased a new stake in Power Integrations in the third quarter valued at approximately $2,754,000. Hedge funds and other institutional investors own 97.66% 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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