Power Integrations (NASDAQ:POWI) Upgraded by Needham & Company LLC to Moderate Buy Rating

Key Points

• Needham & Company LLC upgraded Power Integrations (NASDAQ: POWI) to a “moderate buy” rating, adding to a mixed analyst backdrop that currently leaves the stock with a consensus “hold” rating and an average price target of $69.60.
• Power Integrations reported better-than-expected quarterly results, posting EPS of $0.25 versus the $0.23 estimate and revenue of $108.31 million, which was slightly above expectations and up 2.6% year over year.
• Several insider sales were disclosed recently, including significant stock sales by a vice president and a director; over the last 90 days, insiders sold 335,085 shares valued at about $27.3 million.

Power Integrations (NASDAQ:POWI - Get Free Report) was upgraded by analysts at Needham & Company LLC to a "moderate buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus lifted their price objective on Power Integrations from $56.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Susquehanna lifted their price objective on Power Integrations from $70.00 to $85.00 and gave the company a "positive" rating in a research note on Friday, May 8th. Northland Securities lowered Power Integrations from an "outperform" rating to a "market perform" rating and set a $46.00 price objective for the company. in a research note on Monday, April 6th. Weiss Ratings reissued a "sell (d+)" rating on shares of Power Integrations in a research note on Friday, May 8th. Finally, Zacks Research raised Power Integrations from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 26th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Power Integrations presently has a consensus rating of "Hold" and an average price target of $69.60.

Power Integrations Price Performance

Power Integrations stock opened at $74.63 on Wednesday. Power Integrations has a one year low of $30.86 and a one year high of $89.00. The business has a fifty day moving average price of $68.76 and a 200-day moving average price of $51.76. The firm has a market capitalization of $4.16 billion, a P/E ratio of 248.77, a PEG ratio of 3.25 and a beta of 1.57.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. Power Integrations had a return on equity of 5.34% and a net margin of 3.72%.The firm had revenue of $108.31 million during the quarter, compared to analyst estimates of $106.75 million. During the same period last year, the company earned $0.31 earnings per share. The business's revenue for the quarter was up 2.6% on a year-over-year basis. Sell-side analysts expect that Power Integrations will post 0.89 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Sunil Gupta sold 6,860 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $83.67, for a total transaction of $573,976.20. Following the completion of the sale, the vice president owned 64,379 shares of the company's stock, valued at approximately $5,386,590.93. This represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Balu Balakrishnan sold 124,287 shares of the business's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $86.44, for a total value of $10,743,368.28. Following the transaction, the director owned 279,516 shares in the company, valued at approximately $24,161,363.04. This represents a 30.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 335,085 shares of company stock valued at $27,338,789. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Power Integrations

Several large investors have recently bought and sold shares of the company. Cim Investment Management Inc. bought a new stake in Power Integrations during the 1st quarter valued at approximately $246,000. Bank of America Corp DE boosted its position in Power Integrations by 1.1% during the 1st quarter. Bank of America Corp DE now owns 601,468 shares of the semiconductor company's stock valued at $30,795,000 after acquiring an additional 6,633 shares in the last quarter. Amundi boosted its position in Power Integrations by 10.1% during the 1st quarter. Amundi now owns 11,485 shares of the semiconductor company's stock valued at $588,000 after acquiring an additional 1,050 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 acquiring an additional 453 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Power Integrations by 25.2% in the first quarter. California State Teachers Retirement System now owns 65,641 shares of the semiconductor company's stock worth $3,361,000 after acquiring an additional 13,215 shares in the last quarter.

About Power Integrations

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company's products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm's product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.

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