Power Integrations, Inc. (NASDAQ:POWI – Get Free Report) shares hit a new 52-week low on Wednesday after Benchmark lowered their price target on the stock from $90.00 to $78.00. Benchmark currently has a buy rating on the stock. Power Integrations traded as low as $61.00 and last traded at $62.83, with a volume of 70532 shares changing hands. The stock had previously closed at $64.27.
A number of other brokerages have also recently weighed in on POWI. TD Cowen reduced their price target on Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price objective (down from $100.00) on shares of Power Integrations in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a report on Wednesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $79.67.
Insider Buying and Selling at Power Integrations
In other Power Integrations news, CFO Sandeep Nayyar sold 5,000 shares of Power Integrations stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the sale, the chief financial officer now directly owns 85,198 shares in the company, valued at approximately $6,688,043. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Power Integrations news, CFO Sandeep Nayyar sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the sale, the chief financial officer now directly owns 85,198 shares of the company’s stock, valued at $6,688,043. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Yang Chiah Yee sold 1,412 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $73.75, for a total transaction of $104,135.00. Following the completion of the sale, the vice president now owns 45,436 shares of the company’s stock, valued at $3,350,905. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,100 shares of company stock valued at $2,481,667. Company insiders own 1.70% of the company’s stock.
Institutional Trading of Power Integrations
Several institutional investors have recently added to or reduced their stakes in POWI. Raymond James & Associates boosted its stake in shares of Power Integrations by 15.0% in the fourth quarter. Raymond James & Associates now owns 16,130 shares of the semiconductor company’s stock valued at $1,324,000 after buying an additional 2,100 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in shares of Power Integrations in the fourth quarter worth $209,000. International Assets Investment Management LLC increased its position in shares of Power Integrations by 8,102.6% in the fourth quarter. International Assets Investment Management LLC now owns 22,147 shares of the semiconductor company’s stock worth $1,818,000 after purchasing an additional 21,877 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Power Integrations by 3.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,937 shares of the semiconductor company’s stock valued at $2,130,000 after purchasing an additional 911 shares in the last quarter. Finally, Moody Aldrich Partners LLC lifted its position in Power Integrations by 21.0% during the fourth quarter. Moody Aldrich Partners LLC now owns 27,567 shares of the semiconductor company’s stock worth $2,264,000 after purchasing an additional 4,788 shares during the period.
Power Integrations Stock Down 7.0 %
The business’s 50 day simple moving average is $72.58 and its 200-day simple moving average is $72.54. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 65.45, a P/E/G ratio of 3.81 and a beta of 1.11.
Power Integrations (NASDAQ:POWI – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $106.20 million during the quarter, compared to the consensus estimate of $105.02 million. Power Integrations had a return on equity of 6.13% and a net margin of 12.28%. Power Integrations’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 EPS. On average, analysts expect that Power Integrations, Inc. will post 0.73 earnings per share for the current year.
Power Integrations Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Friday, May 31st. Power Integrations’s dividend payout ratio is currently 86.96%.
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.
