Power Integrations (POWI) Raised to “Buy” at Zacks Investment Research

Power Integrations (NASDAQ:POWI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, December 19th. The brokerage presently has a $83.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 6.55% from the stock’s current price.

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. “

POWI has been the subject of a number of other research reports. Susquehanna Bancshares assumed coverage on shares of Power Integrations in a report on Wednesday, December 13th. They set a “neutral” rating and a $80.00 price objective for the company. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “buy” rating and set a $85.00 target price on shares of Power Integrations in a research report on Wednesday, October 4th. Drexel Hamilton reiterated a “buy” rating and set a $84.00 target price on shares of Power Integrations in a research report on Friday, October 27th. Finally, BidaskClub lowered shares of Power Integrations from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Power Integrations currently has a consensus rating of “Hold” and a consensus target price of $81.40.

Power Integrations (POWI) traded up $1.65 on Tuesday, reaching $77.90. 57,847 shares of the company’s stock traded hands, compared to its average volume of 82,068. The firm has a market capitalization of $2,350.00, a P/E ratio of 40.57 and a beta of 1.27. Power Integrations has a 1 year low of $61.44 and a 1 year high of $86.60.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Thursday, October 26th. The semiconductor company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.05. The company had revenue of $111.30 million during the quarter, compared to the consensus estimate of $111.82 million. Power Integrations had a net margin of 13.69% and a return on equity of 11.95%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. analysts forecast that Power Integrations will post 2.06 earnings per share for the current year.

In other Power Integrations news, VP David Mh Matthews sold 704 shares of Power Integrations stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $78.33, for a total transaction of $55,144.32. Following the completion of the sale, the vice president now directly owns 42,654 shares in the company, valued at $3,341,087.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Ben Sutherland sold 500 shares of Power Integrations stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $79.58, for a total transaction of $39,790.00. Following the transaction, the vice president now directly owns 40,965 shares in the company, valued at $3,259,994.70. The disclosure for this sale can be found here. Insiders sold 63,089 shares of company stock valued at $5,077,253 over the last 90 days. 4.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Neuberger Berman Group LLC increased its stake in shares of 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 worth $214,113,000 after buying an additional 128,790 shares during the period. Vanguard Group Inc. boosted its holdings in Power Integrations by 2.9% in the second quarter. Vanguard Group Inc. now owns 2,610,745 shares of the semiconductor company’s stock valued at $190,324,000 after acquiring an additional 73,422 shares in the last quarter. Impax Asset Management LTD boosted its holdings in Power Integrations by 20.7% in the third quarter. Impax Asset Management LTD now owns 839,787 shares of the semiconductor company’s stock valued at $61,472,000 after acquiring an additional 144,088 shares in the last quarter. Stephens Investment Management Group LLC boosted its holdings in Power Integrations by 1.0% in the third quarter. Stephens Investment Management Group LLC now owns 644,192 shares of the semiconductor company’s stock valued at $47,155,000 after acquiring an additional 6,226 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its holdings in Power Integrations by 159.9% in the third quarter. Artemis Investment Management LLP now owns 545,657 shares of the semiconductor company’s stock valued at $39,928,000 after acquiring an additional 335,703 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors.

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About Power Integrations

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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