Power Integrations (NASDAQ:POWI) Lowered to “Hold” at BidaskClub

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

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

Shares of NASDAQ:POWI opened at $79.52 on Thursday. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 41.42 and a beta of 1.30. The business’s fifty day simple moving average is $72.68. Power Integrations has a 52 week low of $47.35 and a 52 week high of $83.94.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.19. The company had revenue of $89.19 million for the quarter, compared to analyst estimates of $90.10 million. Power Integrations had a net margin of 15.67% and a return on equity of 10.86%. Power Integrations’s revenue was down 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share. As a group, equities research analysts anticipate that Power Integrations will post 1.66 EPS for the current year.

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

In related news, VP Clifford Walker sold 10,000 shares of Power Integrations stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $78.76, for a total transaction of $787,600.00. Following the completion of the transaction, the vice president now owns 91,702 shares of the company’s stock, valued at $7,222,449.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Doug Bailey sold 1,000 shares of Power Integrations stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $65.31, for a total transaction of $65,310.00. Following the transaction, the vice president now directly owns 59,298 shares of the company’s stock, valued at approximately $3,872,752.38. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock valued at $1,572,450 in the last three months. 4.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in POWI. Norges Bank bought a new position in Power Integrations during the fourth quarter worth $27,710,000. Vaughan Nelson Investment Management L.P. increased its stake in Power Integrations by 56.8% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 258,490 shares of the semiconductor company’s stock valued at $18,079,000 after purchasing an additional 93,600 shares in the last quarter. Ellis Investment Partners LLC bought a new stake in Power Integrations in the first quarter valued at $77,000. Dimensional Fund Advisors LP increased its stake in Power Integrations by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 762,181 shares of the semiconductor company’s stock valued at $46,478,000 after purchasing an additional 46,081 shares in the last quarter. Finally, Scout Investments Inc. increased its stake in Power Integrations by 63.7% in the second quarter. Scout Investments Inc. now owns 93,822 shares of the semiconductor company’s stock valued at $7,523,000 after purchasing an additional 36,523 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

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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