Benchmark Reiterates "Buy" Rating for Power Integrations (NASDAQ:POWI)

Key Points

• Benchmark has reiterated its "Buy" rating for Power Integrations (NASDAQ:POWI) with a price target of $55.00, indicating a potential upside of 27.76% from its previous close.
• Power Integrations reported earnings of $0.35 EPS for the latest quarter, surpassing analysts' expectations, alongside a year-over-year revenue increase of 9.1% to $115.85 million.
• Recent insider trading showed significant sales, with two VPs selling over 18,000 shares combined, indicating a decrease in insider ownership within the last 90 days.

Power Integrations (NASDAQ:POWI - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Benchmark in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $55.00 price objective on the semiconductor company's stock. Benchmark's target price points to a potential upside of 27.76% from the company's previous close.

POWI has been the topic of a number of other reports. Susquehanna decreased their price target on Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a research note on Thursday, August 7th. Wall Street Zen cut Power Integrations from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $61.67.

Power Integrations Price Performance

NASDAQ:POWI opened at $43.05 on Tuesday. The business has a 50 day moving average of $47.41 and a 200 day moving average of $50.80. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 74.23, a PEG ratio of 2.81 and a beta of 1.38. Power Integrations has a 1-year low of $39.53 and a 1-year high of $69.53.

Power Integrations (NASDAQ:POWI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $115.85 million for the quarter, compared to analysts' expectations of $115.02 million. Power Integrations had a return on equity of 5.86% and a net margin of 7.59%.The business's quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. As a group, sell-side analysts anticipate that Power Integrations will post 0.93 EPS for the current year.

Insider Transactions at Power Integrations

In other Power Integrations news, VP Gagan Jain sold 2,036 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $46.05, for a total value of $93,757.80. Following the completion of the sale, the vice president owned 18,812 shares in the company, valued at $866,292.60. This represents a 9.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Doug Bailey sold 16,989 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $46.41, for a total value of $788,459.49. Following the completion of the sale, the vice president owned 50,798 shares of the company's stock, valued at approximately $2,357,535.18. The trade was a 25.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,014 shares of company stock valued at $1,678,322. Company insiders own 1.40% 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 POWI. Hantz Financial Services Inc. boosted its stake in Power Integrations by 475.9% during the second quarter. Hantz Financial Services Inc. now owns 478 shares of the semiconductor company's stock valued at $27,000 after buying an additional 395 shares during the last quarter. Allworth Financial LP boosted its stake in Power Integrations by 257.8% during the first quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock valued at $30,000 after buying an additional 428 shares during the last quarter. Bayforest Capital Ltd boosted its stake in Power Integrations by 54.3% during the first quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company's stock valued at $32,000 after buying an additional 222 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Power Integrations by 576.3% during the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company's stock valued at $32,000 after buying an additional 536 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Power Integrations by 125.9% during the second quarter. Parkside Financial Bank & Trust now owns 585 shares of the semiconductor company's stock valued at $33,000 after buying an additional 326 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.

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