Power Integrations, Inc. $POWI Stock: ProShare Advisors LLC Boosts Position

Key Points

• ProShare Advisors increased its Power Integrations position by 22.7% in the third quarter, adding 44,348 shares to hold 240,018 shares valued at about $12.4 million.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $68.83, though recent target cuts included Needham’s reduction to $80 and Susquehanna’s to $70.
• Power Integrations beat quarterly estimates, reporting EPS of $0.37 versus $0.32 expected and revenue of $118.94 million versus $117.44 million; revenue grew 2.6% year over year.

ProShare Advisors LLC boosted its position in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 22.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 240,018 shares of the semiconductor company's stock after buying an additional 44,348 shares during the period. ProShare Advisors LLC owned approximately 0.43% of Power Integrations worth $12,433,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC bought a new stake in Power Integrations in the 2nd quarter worth approximately $33,000. Allworth Financial LP bought a new position in shares of Power Integrations during the 2nd quarter valued at approximately $42,000. Global Retirement Partners LLC bought a new position in shares of Power Integrations during the 2nd quarter valued at approximately $44,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Power Integrations in the second quarter valued at $48,000. Finally, EverSource Wealth Advisors LLC increased its position in Power Integrations by 125.5% in the first quarter. EverSource Wealth Advisors LLC now owns 814 shares of the semiconductor company's stock worth $42,000 after purchasing an additional 453 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on POWI shares. Williams Trading set a $80.00 price target on shares of Power Integrations in a research note on Thursday, August 6th. Needham & Company LLC lowered their target price on shares of Power Integrations from $90.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Weiss Ratings raised Power Integrations from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 19th. Susquehanna dropped their price objective on Power Integrations from $85.00 to $70.00 and set a "positive" rating on the stock in a research note on Wednesday, October 21st. Finally, Zacks Research downgraded shares of Power Integrations from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $68.83.

Power Integrations Stock Performance

POWI stock opened at $46.99 on Wednesday. Power Integrations, Inc. has a one year low of $30.86 and a one year high of $91.18. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 67.96 and a beta of 1.58. The firm has a 50-day simple moving average of $49.65 and a two-hundred day simple moving average of $58.59.

Power Integrations (NASDAQ:POWI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. The firm had revenue of $118.94 million for the quarter, compared to the consensus estimate of $117.44 million. Power Integrations had a net margin of 5.58% and a return on equity of 5.50%. The company's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. As a group, equities analysts predict that Power Integrations, Inc. will post 0.77 earnings per share for the current fiscal year.

About Power Integrations

Power Integrations, Inc designs and manufactures high-performance semiconductor technologies used in energy-efficient power conversion. Its products help convert and control electrical power in applications such as consumer electronics, appliances, industrial equipment, communications infrastructure, renewable-energy systems, and electric vehicles.

The company's product portfolio includes integrated circuits for AC-to-DC and DC-to-DC power supplies, LED lighting drivers, power-factor correction, motor drives, and high-voltage gate driving.

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