Power Integrations (NASDAQ:POWI) Upgraded at Wall Street Zen

Power Integrations (NASDAQ:POWI - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Separately, Stifel Nicolaus upped their price target on shares of Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $74.67.

Power Integrations Trading Down 4.3%

Shares of NASDAQ POWI opened at $55.13 on Friday. The firm's 50-day moving average price is $50.75 and its 200-day moving average price is $56.89. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 96.72, a P/E/G ratio of 4.08 and a beta of 1.29. Power Integrations has a 12-month low of $40.78 and a 12-month high of $79.13.

Power Integrations (NASDAQ:POWI - Get Free Report) last announced its earnings results on Monday, May 12th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.03. The firm had revenue of $105.53 million for the quarter, compared to analysts' expectations of $105.44 million. Power Integrations had a net margin of 7.69% and a return on equity of 4.48%. The business's revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. On average, equities analysts predict that Power Integrations will post 0.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sandeep Nayyar sold 1,929 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $50.89, for a total transaction of $98,166.81. Following the transaction, the chief financial officer now directly owns 107,357 shares in the company, valued at approximately $5,463,397.73. This trade represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Balu Balakrishnan sold 9,544 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $51.19, for a total transaction of $488,557.36. Following the transaction, the chief executive officer now owns 590,580 shares in the company, valued at approximately $30,231,790.20. This represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,561 shares of company stock worth $642,092 in the last three months. Corporate 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 modified their holdings of POWI. Allspring Global Investments Holdings LLC bought a new position in shares of Power Integrations during the fourth quarter valued at approximately $288,000. Rhumbline Advisers boosted its stake in shares of Power Integrations by 1.2% during the fourth quarter. Rhumbline Advisers now owns 182,976 shares of the semiconductor company's stock valued at $11,290,000 after purchasing an additional 2,224 shares in the last quarter. Congress Asset Management Co. boosted its stake in shares of Power Integrations by 1.5% during the fourth quarter. Congress Asset Management Co. now owns 631,139 shares of the semiconductor company's stock valued at $38,941,000 after purchasing an additional 9,264 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Power Integrations by 16.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 34,720 shares of the semiconductor company's stock valued at $2,142,000 after purchasing an additional 4,851 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Power Integrations during the fourth quarter valued at approximately $523,000.

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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