Stifel Nicolaus reaffirmed their buy rating on shares of Power Integrations Inc. (NASDAQ:POWI) in a report published on Thursday. They currently have a $70.00 price target on the stock, up from their previous price target of $63.00.
Several other equities analysts have also weighed in on the company. Zacks Investment Research lowered Power Integrations from a buy rating to a hold rating in a report on Thursday, September 29th. Deutsche Bank AG raised their price target on Power Integrations from $55.00 to $65.00 and gave the stock a buy rating in a report on Friday, July 29th. Finally, Sidoti lowered Power Integrations from a buy rating to a neutral rating in a report on Thursday, June 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Power Integrations has an average rating of Buy and an average target price of $62.80.
Power Integrations (NASDAQ:POWI) opened at 62.20 on Thursday. The stock’s 50 day moving average price is $60.87 and its 200-day moving average price is $53.65. The firm has a market cap of $1.80 billion, a PE ratio of 41.36 and a beta of 1.13. Power Integrations has a 12-month low of $39.53 and a 12-month high of $64.73.
Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.09. Power Integrations had a return on equity of 11.64% and a net margin of 12.36%. The business earned $97.20 million during the quarter, compared to analyst estimates of $91.22 million. During the same period in the prior year, the company earned $0.47 earnings per share. Power Integrations’s revenue was up 14.0% compared to the same quarter last year. Equities research analysts anticipate that Power Integrations will post $2.33 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, August 31st were given a $0.13 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.84%. Power Integrations’s dividend payout ratio (DPR) is presently 34.44%.
In other Power Integrations news, VP Ben Sutherland sold 2,216 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $57.97, for a total transaction of $128,461.52. Following the sale, the vice president now owns 23,868 shares in the company, valued at $1,383,627.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Doug Bailey sold 460 shares of the firm’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $60.00, for a total value of $27,600.00. Following the sale, the vice president now owns 26,759 shares in the company, valued at approximately $1,605,540. The disclosure for this sale can be found here. 5.70% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in POWI. BlackRock Inc. increased its stake in Power Integrations by 125.5% in the first quarter. BlackRock Inc. now owns 2,142 shares of the company’s stock worth $106,000 after buying an additional 1,192 shares during the last quarter. Bank of Montreal Can purchased a new stake in Power Integrations during the second quarter worth $175,000. PineBridge Investments L.P. increased its stake in Power Integrations by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,653 shares of the company’s stock worth $183,000 after buying an additional 144 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Power Integrations by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,976 shares of the company’s stock worth $199,000 after buying an additional 482 shares during the last quarter. Finally, Globeflex Capital L P purchased a new stake in Power Integrations during the second quarter worth $215,000. Institutional investors and hedge funds own 97.76% 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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