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

Power Integrations (NASDAQ:POWI)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a report issued on Friday,Benzinga reports. They currently have a $78.00 target price on the semiconductor company’s stock. Benchmark’s target price indicates a potential upside of 28.40% from the stock’s previous close.

A number of other research firms also recently issued reports on POWI. StockNews.com upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Susquehanna lowered their price objective on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Power Integrations has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Power Integrations Stock Performance

Shares of POWI opened at $60.75 on Friday. Power Integrations has a twelve month low of $56.63 and a twelve month high of $85.00. The firm’s 50 day moving average price is $62.59 and its two-hundred day moving average price is $63.40. The firm has a market cap of $3.45 billion, a P/E ratio of 92.05, a PEG ratio of 4.06 and a beta of 1.11.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.12). Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. On average, sell-side analysts anticipate that Power Integrations will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Power Integrations news, VP Clifford Walker sold 10,000 shares of Power Integrations stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $64.36, for a total transaction of $643,600.00. Following the completion of the transaction, the vice president now directly owns 130,934 shares of the company’s stock, valued at $8,426,912.24. The trade was a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Balu Balakrishnan sold 12,507 shares of Power Integrations stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $60.64, for a total transaction of $758,424.48. Following the transaction, the chief executive officer now directly owns 600,002 shares of the company’s stock, valued at approximately $36,384,121.28. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,680 shares of company stock worth $2,420,526. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Power Integrations

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Edgestream Partners L.P. boosted its position in Power Integrations by 44.5% during the fourth quarter. Edgestream Partners L.P. now owns 76,366 shares of the semiconductor company’s stock worth $4,712,000 after purchasing an additional 23,509 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Power Integrations in the fourth quarter valued at about $7,470,000. Proficio Capital Partners LLC bought a new stake in shares of Power Integrations in the fourth quarter valued at about $2,120,000. M&T Bank Corp boosted its position in shares of Power Integrations by 28.9% in the fourth quarter. M&T Bank Corp now owns 53,672 shares of the semiconductor company’s stock valued at $3,312,000 after acquiring an additional 12,037 shares during the period. Finally, Assetmark Inc. boosted its position in shares of Power Integrations by 10.9% in the fourth quarter. Assetmark Inc. now owns 18,747 shares of the semiconductor company’s stock valued at $1,157,000 after acquiring an additional 1,843 shares during the period.

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.