Power Integrations, Inc. (POWI) Trading Up 11% Following Earnings Beat

Shares of Power Integrations, Inc. (NASDAQ:POWI) were up 11% during trading on Friday following a stronger than expected earnings report. The stock traded as high as $86.60 and last traded at $84.35. Approximately 725,198 shares were traded during trading, an increase of 279% from the average daily volume of 191,271 shares. The stock had previously closed at $76.00.

The semiconductor company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.05. Power Integrations had a net margin of 13.69% and a return on equity of 12.18%. The company had revenue of $111.30 million for the quarter, compared to the consensus estimate of $111.82 million. During the same period in the prior year, the firm posted $0.67 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year.

A number of equities research analysts have commented on POWI shares. Stifel Nicolaus reissued a “buy” rating and issued a $82.00 price objective (up from $75.00) on shares of Power Integrations in a research report on Friday, June 30th. BidaskClub raised shares of Power Integrations from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Deutsche Bank AG downgraded shares of Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Tuesday, July 25th. Drexel Hamilton set a $84.00 price objective on shares of Power Integrations and gave the company a “buy” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research raised shares of Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Power Integrations has an average rating of “Buy” and a consensus price target of $81.33.

In related news, VP David Mh Matthews sold 1,000 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $71.22, for a total value of $71,220.00. Following the transaction, the vice president now directly owns 43,405 shares of the company’s stock, valued at approximately $3,091,304.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Raja Petrakian sold 2,272 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $68.89, for a total transaction of $156,518.08. Following the completion of the transaction, the vice president now directly owns 30,815 shares in the company, valued at $2,122,845.35. The disclosure for this sale can be found here. Insiders sold a total of 3,593 shares of company stock worth $250,457 over the last ninety days. Insiders own 4.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Copeland Capital Management LLC grew its position in shares of Power Integrations by 1.6% in the 3rd quarter. Copeland Capital Management LLC now owns 271,264 shares of the semiconductor company’s stock valued at $19,857,000 after buying an additional 4,250 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Power Integrations in the 3rd quarter valued at $410,000. First Trust Advisors LP grew its position in shares of Power Integrations by 32.7% in the 3rd quarter. First Trust Advisors LP now owns 56,393 shares of the semiconductor company’s stock valued at $4,128,000 after buying an additional 13,888 shares during the last quarter. Ardsley Advisory Partners purchased a new position in shares of Power Integrations in the 2nd quarter valued at $510,000. Finally, Koch Industries Inc. purchased a new position in shares of Power Integrations in the 2nd quarter valued at $209,000. 95.01% of the stock is currently owned by hedge funds and other institutional investors.

The company’s 50-day moving average price is $72.91 and its 200-day moving average price is $70.28. The company has a market cap of $2.51 billion, a PE ratio of 46.89 and a beta of 1.28.

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Power Integrations Company Profile

Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.

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