Power Integrations (NASDAQ:POWI) Price Target Cut to $77.00 by Analysts at Susquehanna

Power Integrations (NASDAQ:POWI) had its target price trimmed by Susquehanna from $80.00 to $77.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a positive rating on the semiconductor company’s stock.

Several other research analysts have also recently weighed in on POWI. Benchmark restated a “buy” rating and issued a $78.00 price objective on shares of Power Integrations in a research report on Wednesday, September 11th. Northland Capmk upgraded shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Northland Securities upgraded shares of Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Monday, August 12th. Finally, TD Cowen cut their target price on Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Power Integrations Price Performance

Shares of POWI traded up $0.32 during midday trading on Thursday, hitting $65.70. 293,088 shares of the company traded hands, compared to its average volume of 407,657. The stock has a 50-day moving average of $62.30 and a 200-day moving average of $68.00. Power Integrations has a one year low of $56.63 and a one year high of $89.68. The firm has a market cap of $3.73 billion, a P/E ratio of 99.68, a PEG ratio of 5.34 and a beta of 1.10.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $106.20 million for the quarter, compared to analysts’ expectations of $105.02 million. Power Integrations had a return on equity of 4.15% and a net margin of 9.27%. The company’s revenue was down 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. Sell-side analysts forecast that Power Integrations will post 0.59 EPS for the current fiscal year.

Power Integrations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, November 29th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s dividend payout ratio is 121.21%.

Insider Activity

In other news, VP Sunil Gupta sold 2,127 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $65.90, for a total transaction of $140,169.30. Following the completion of the sale, the vice president now owns 51,899 shares of the company’s stock, valued at approximately $3,420,144.10. This represents a 0.00 % 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. Over the last 90 days, insiders sold 2,398 shares of company stock valued at $157,847. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Power Integrations

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Duality Advisers LP purchased a new stake in Power Integrations in the first quarter worth $1,261,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Power Integrations by 14.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 60,320 shares of the semiconductor company’s stock worth $4,316,000 after acquiring an additional 7,584 shares during the period. Capital International Investors lifted its stake in Power Integrations by 6.5% in the first quarter. Capital International Investors now owns 1,316,934 shares of the semiconductor company’s stock worth $94,227,000 after acquiring an additional 80,775 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Power Integrations by 25.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 43,275 shares of the semiconductor company’s stock worth $3,095,000 after acquiring an additional 8,864 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in Power Integrations in the second quarter worth $699,000.

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.