Power Integrations (NASDAQ:POWI) Receives “Buy” Rating from Benchmark

Benchmark restated their buy rating on shares of Power Integrations (NASDAQ:POWI) in a research report report published on Friday,Benzinga reports. They currently have a $78.00 target price on the semiconductor company’s stock.

Several other brokerages also recently issued reports on POWI. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price objective (down from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. Northland Capmk upgraded Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Susquehanna cut their price target on Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a research note on Thursday. StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, TD Cowen cut their price objective on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $78.00.

Power Integrations Stock Performance

Shares of NASDAQ:POWI traded up $0.93 during trading hours on Friday, hitting $66.31. 535,878 shares of the company’s stock traded hands, compared to its average volume of 408,870. The company’s fifty day simple moving average is $62.29 and its two-hundred day simple moving average is $68.02. Power Integrations has a 52 week low of $56.63 and a 52 week high of $89.68. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 100.47, a price-to-earnings-growth ratio of 5.34 and a beta of 1.10.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. Power Integrations had a return on equity of 4.15% and a net margin of 9.27%. The business had revenue of $106.20 million during the quarter, compared to the consensus estimate of $105.02 million. During the same period in the prior year, the business posted $0.27 earnings per share. Power Integrations’s revenue was down 13.8% compared to the same quarter last year. On average, analysts anticipate that Power Integrations will post 0.59 EPS for the current fiscal year.

Power Integrations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a dividend of $0.21 per share. This is an increase from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 annualized dividend and a yield of 1.27%. Power Integrations’s dividend payout ratio is presently 121.21%.

Insiders Place Their Bets

In other news, VP Sunil Gupta sold 2,127 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total value of $140,169.30. Following the sale, the vice president now owns 51,899 shares in the company, valued at approximately $3,420,144.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 2,398 shares of company stock valued at $157,847 in the last three months. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Power Integrations

Several large investors have recently added to or reduced their stakes in POWI. Intech Investment Management LLC bought a new position in Power Integrations during the third quarter worth about $983,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Power Integrations by 10.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 257,823 shares of the semiconductor company’s stock worth $16,531,000 after purchasing an additional 23,405 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Power Integrations by 10.3% during the third quarter. First Horizon Advisors Inc. now owns 2,196 shares of the semiconductor company’s stock worth $141,000 after purchasing an additional 205 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Power Integrations by 60.2% in the third quarter. Advisors Asset Management Inc. now owns 10,451 shares of the semiconductor company’s stock valued at $670,000 after buying an additional 3,926 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Power Integrations by 214.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,860 shares of the semiconductor company’s stock valued at $2,684,000 after buying an additional 28,548 shares during the last quarter.

Power Integrations Company Profile

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.