Power Integrations (NASDAQ:POWI) Price Target Cut to $55.00 by Analysts at Benchmark

Key Points

• Power Integrations' price target has been reduced from $70.00 to $55.00 by Benchmark analysts, maintaining a "buy" rating with a potential upside of 24.49%.
• Despite the cut, the overall consensus rating for Power Integrations is still "Buy," with an average price target of $66.25.
• The company reported earnings of $0.35 per share for its last quarter, exceeding analysts' expectations, with revenue growth of 9.1% year-over-year.

Power Integrations (NASDAQ:POWI - Get Free Report) had its price objective lowered by stock analysts at Benchmark from $70.00 to $55.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor company's stock. Benchmark's price target would suggest a potential upside of 24.49% from the company's previous close.

POWI has been the topic of several other research reports. Susquehanna cut their target price on Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a research note on Thursday. Wall Street Zen cut Power Integrations from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Stifel Nicolaus increased their price target on Power Integrations from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Power Integrations has a consensus rating of "Buy" and an average price target of $66.25.

Power Integrations Trading Up 2.4%

Shares of Power Integrations stock opened at $44.18 on Monday. The business's 50 day simple moving average is $54.04 and its 200-day simple moving average is $54.20. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 76.17, a PEG ratio of 2.10 and a beta of 1.31. Power Integrations has a twelve month low of $39.53 and a twelve month 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 earnings per share 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 prior year, the firm earned $0.28 EPS. Sell-side analysts predict that Power Integrations will post 0.93 earnings per share for the current year.

Hedge Funds Weigh In On Power Integrations

Hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. increased its position in shares of Power Integrations by 475.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 478 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 395 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Power Integrations by 125.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 585 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 326 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Power Integrations by 257.8% during the 1st quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 428 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Power Integrations by 364.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 622 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 488 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Power Integrations by 576.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 536 shares in the last quarter.

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.

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