Power Integrations (NASDAQ:POWI) Given “Buy” Rating at Benchmark

Benchmark reissued their buy rating on shares of Power Integrations (NASDAQ:POWI) in a report released on Friday morning,Benzinga reports. The firm currently has a $78.00 price target on the semiconductor company’s stock.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus restated a “buy” rating and set a $95.00 price target (down from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Northland Capmk raised Power Integrations from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Susquehanna reduced their price objective on Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a report on Thursday, November 7th. Finally, TD Cowen reduced their price objective on Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Power Integrations Trading Down 1.9 %

POWI stock opened at $65.06 on Friday. Power Integrations has a 1-year low of $56.63 and a 1-year high of $89.68. The firm has a market cap of $3.70 billion, a P/E ratio of 98.58, a P/E/G ratio of 5.33 and a beta of 1.10. The business’s 50 day moving average is $62.24 and its 200-day moving average is $68.04.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $115.84 million for the quarter, compared to analyst estimates of $114.83 million. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS. Sell-side analysts forecast that Power Integrations will post 0.59 EPS for the current year.

Power Integrations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s dividend payout ratio is 121.21%.

Insider Activity

In related news, VP Sunil Gupta sold 2,127 shares of the company’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 completion of the sale, the vice president now owns 51,899 shares in the company, valued at $3,420,144.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 2,398 shares of company stock valued at $157,847 in the last 90 days. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Power Integrations

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

About Power Integrations

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.