BidaskClub Lowers Power Integrations (POWI) to Strong Sell

BidaskClub downgraded shares of Power Integrations (NASDAQ:POWI) from a sell rating to a strong sell rating in a report issued on Wednesday morning.

Several other brokerages have also recently weighed in on POWI. Sidoti cut shares of Power Integrations from a buy rating to a neutral rating in a research report on Friday, February 2nd. Drexel Hamilton reaffirmed a buy rating and issued a $84.00 price target on shares of Power Integrations in a research report on Friday, October 27th. Zacks Investment Research cut shares of Power Integrations from a buy rating to a hold rating in a research report on Wednesday, December 27th. Finally, Susquehanna Bancshares started coverage on shares of Power Integrations in a research report on Wednesday, December 13th. They set a neutral rating and a $80.00 target price for the company. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $81.40.

Shares of Power Integrations (NASDAQ:POWI) opened at $62.60 on Wednesday. Power Integrations has a 52-week low of $60.55 and a 52-week high of $86.60. The firm has a market cap of $1,855.81, a P/E ratio of 69.56 and a beta of 1.17.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. Power Integrations had a net margin of 6.39% and a return on equity of 12.70%. The firm had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $110.50 million. During the same quarter in the prior year, the company earned $0.67 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. analysts predict that Power Integrations will post 2 earnings per share for the current year.

Power Integrations announced that its board has approved a share buyback plan on Thursday, February 1st that permits the company to buyback $30.00 million in shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, February 28th will be given a dividend of $0.16 per share. This is a boost from Power Integrations’s previous quarterly dividend of $0.14. The ex-dividend date is Tuesday, February 27th. This represents a $0.64 dividend on an annualized basis and a yield of 1.02%. Power Integrations’s dividend payout ratio is presently 62.22%.

In related news, CFO Sandeep Nayyar sold 920 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $66.39, for a total transaction of $61,078.80. Following the completion of the sale, the chief financial officer now owns 65,345 shares of the company’s stock, valued at $4,338,254.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven Sharp sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.49, for a total transaction of $794,900.00. The disclosure for this sale can be found here. Insiders have sold 35,076 shares of company stock valued at $2,648,561 in the last three months. 4.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of POWI. Amalgamated Bank lifted its position in Power Integrations by 9.5% during the second quarter. Amalgamated Bank now owns 3,990 shares of the semiconductor company’s stock valued at $291,000 after acquiring an additional 346 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Power Integrations by 1.7% in the second quarter. New York State Common Retirement Fund now owns 96,340 shares of the semiconductor company’s stock worth $7,023,000 after buying an additional 1,599 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Power Integrations by 9.6% in the second quarter. UBS Asset Management Americas Inc. now owns 16,850 shares of the semiconductor company’s stock worth $1,228,000 after buying an additional 1,471 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Power Integrations in the second quarter worth $208,000. Finally, Northern Trust Corp raised its holdings in shares of Power Integrations by 5.8% in the second quarter. Northern Trust Corp now owns 532,910 shares of the semiconductor company’s stock worth $38,849,000 after buying an additional 29,216 shares during the last quarter. 96.82% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Power Integrations (NASDAQ:POWI)

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