Benchmark Reaffirms Buy Rating for Power Integrations (NASDAQ:POWI)

Power Integrations (NASDAQ:POWI - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Benchmark in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $70.00 price objective on the semiconductor company's stock. Benchmark's target price would indicate a potential upside of 29.03% from the company's current price.

POWI has been the topic of several other reports. Stifel Nicolaus lifted their price objective on shares of Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Wall Street Zen upgraded shares of Power Integrations from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Two investment 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.33.

Power Integrations Stock Performance

Shares of Power Integrations stock traded up $0.09 during trading hours on Wednesday, reaching $54.25. The company's stock had a trading volume of 350,385 shares, compared to its average volume of 481,017. The company's 50 day simple moving average is $54.82 and its 200 day simple moving average is $55.55. Power Integrations has a one year low of $40.78 and a one year high of $75.57. The stock has a market cap of $3.05 billion, a P/E ratio of 83.46, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.03. Power Integrations had a net margin of 8.56% and a return on equity of 5.12%. The company had revenue of $105.53 million for the quarter, compared to the consensus estimate of $105.44 million. During the same period last year, the firm posted $0.18 EPS. The company's revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts predict that Power Integrations will post 0.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Power Integrations

Several large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in Power Integrations by 1.2% during the 1st quarter. Victory Capital Management Inc. now owns 17,385 shares of the semiconductor company's stock valued at $878,000 after buying an additional 200 shares during the period. Snowden Capital Advisors LLC increased its stake in Power Integrations by 1.8% during the 4th quarter. Snowden Capital Advisors LLC now owns 12,127 shares of the semiconductor company's stock valued at $748,000 after buying an additional 211 shares during the period. Bayforest Capital Ltd increased its stake in Power Integrations by 54.3% during the 1st 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 period. Covestor Ltd increased its stake in Power Integrations by 16.9% during the 4th quarter. Covestor Ltd now owns 1,619 shares of the semiconductor company's stock valued at $100,000 after buying an additional 234 shares during the period. Finally, Baird Financial Group Inc. grew its stake in shares of Power Integrations by 5.4% in the 1st quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company's stock worth $255,000 after purchasing an additional 261 shares during 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.