Equities analysts expect Power Integrations Inc (NASDAQ:POWI) to announce $103.13 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Power Integrations’ earnings, with the lowest sales estimate coming in at $103.00 million and the highest estimate coming in at $103.25 million. Power Integrations posted sales of $104.69 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.5%. The business is expected to issue its next earnings report on Thursday, April 26th.
On average, analysts expect that Power Integrations will report full year sales of $103.13 million for the current financial year, with estimates ranging from $449.10 million to $458.93 million. For the next fiscal year, analysts forecast that the company will post sales of $498.68 million per share, with estimates ranging from $488.50 million to $508.86 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Power Integrations.
Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. Power Integrations had a return on equity of 12.70% and a net margin of 6.39%. The firm had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $110.50 million. During the same quarter last year, the firm posted $0.67 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year.
A number of brokerages have commented on POWI. Zacks Investment Research cut Power Integrations from a “hold” rating to a “strong sell” rating in a research note on Thursday. BidaskClub cut Power Integrations from a “sell” rating to a “strong sell” rating in a research report on Wednesday, February 7th. Sidoti cut Power Integrations from a “buy” rating to a “neutral” rating in a research report on Friday, February 2nd. Susquehanna Bancshares began coverage on Power Integrations in a research report on Wednesday, December 13th. They set a “neutral” rating and a $80.00 target price on the stock. They noted that the move was a valuation call. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $84.00 target price on shares of Power Integrations in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Power Integrations currently has a consensus rating of “Hold” and an average price target of $81.40.
Shares of Power Integrations (NASDAQ:POWI) traded up $0.45 during trading on Friday, reaching $63.05. The company’s stock had a trading volume of 238,790 shares, compared to its average volume of 175,472. Power Integrations has a 12-month low of $60.55 and a 12-month high of $86.60. The firm has a market capitalization of $1,860.27, a PE ratio of 70.06 and a beta of 1.17.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, February 28th will be given a dividend of $0.16 per share. This is a boost from Power Integrations’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.64 annualized dividend and a dividend yield of 1.02%. Power Integrations’s payout ratio is presently 62.22%.
Power Integrations declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 1st that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Balu Balakrishnan sold 9,488 shares of Power Integrations stock in a transaction on Monday, January 29th. The stock was sold at an average price of $77.36, for a total transaction of $733,991.68. Following the sale, the insider now directly owns 262,977 shares in the company, valued at $20,343,900.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Nayyar sold 920 shares of Power Integrations stock in a transaction on Monday, February 5th. The stock was sold at an average price of $66.39, for a total value of $61,078.80. Following the sale, the chief financial officer now owns 65,345 shares in the company, valued at $4,338,254.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,076 shares of company stock worth $2,648,561. 4.30% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of POWI. Artemis Investment Management LLP lifted its holdings in Power Integrations by 159.9% during the third quarter. Artemis Investment Management LLP now owns 545,657 shares of the semiconductor company’s stock worth $39,928,000 after acquiring an additional 335,703 shares during the period. Mesirow Financial Investment Management Equity Management bought a new stake in Power Integrations during the third quarter worth $20,628,000. Rice Hall James & Associates LLC bought a new stake in Power Integrations during the third quarter worth $17,162,000. Koch Industries Inc. bought a new stake in Power Integrations during the second quarter worth $209,000. Finally, BlackRock Inc. lifted its holdings in Power Integrations by 4.1% during the fourth quarter. BlackRock Inc. now owns 3,690,626 shares of the semiconductor company’s stock worth $271,447,000 after acquiring an additional 146,319 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.
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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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