BidaskClub Downgrades Power Integrations (POWI) to Sell

BidaskClub lowered shares of Power Integrations (NASDAQ:POWI) from a hold rating to a sell rating in a report issued on Wednesday.

POWI has been the topic of several other research reports. Zacks Investment Research lowered shares of Power Integrations from a buy rating to a hold rating in a report on Saturday, December 16th. Susquehanna Bancshares began coverage on shares of Power Integrations in a report on Wednesday, December 13th. They issued a neutral rating and a $80.00 price target on the stock. They noted that the move was a valuation call. ValuEngine upgraded shares of Power Integrations from a hold rating to a buy rating in a report on Monday, April 2nd. Finally, Sidoti lowered shares of Power Integrations from a buy rating to a neutral rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $81.40.

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NASDAQ POWI opened at $67.40 on Wednesday. Power Integrations has a one year low of $60.55 and a one year high of $86.60. The company has a market capitalization of $2,010.88, a P/E ratio of 29.56 and a beta of 1.19.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. Power Integrations had a net margin of 6.39% and a return on equity of 12.70%. The firm had revenue of $108.20 million for the quarter, compared to analyst estimates of $110.50 million. During the same quarter last year, the firm posted $0.67 earnings per share. Power Integrations’s revenue for the quarter was up 5.7% compared to the same quarter last year. equities analysts expect that Power Integrations will post 2 EPS for the current fiscal year.

Power Integrations announced that its board has authorized a share repurchase program on Thursday, February 1st that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Wednesday, February 28th were given a $0.16 dividend. This is an increase from Power Integrations’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.64 annualized dividend and a yield of 0.95%. Power Integrations’s dividend payout ratio (DPR) is 28.07%.

In other news, insider Balu Balakrishnan sold 17,186 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $63.02, for a total transaction of $1,083,061.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William George sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $70.00, for a total transaction of $105,000.00. Following the sale, the director now directly owns 16,391 shares of the company’s stock, valued at approximately $1,147,370. The disclosure for this sale can be found here. Insiders have sold 70,276 shares of company stock valued at $4,772,472 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its position in shares of Power Integrations by 6.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 166,367 shares of the semiconductor company’s stock worth $12,179,000 after buying an additional 9,513 shares in the last quarter. Swiss National Bank grew its position in shares of Power Integrations by 2.6% during the fourth quarter. Swiss National Bank now owns 50,700 shares of the semiconductor company’s stock worth $3,729,000 after buying an additional 1,300 shares in the last quarter. BlackRock Inc. grew its position in shares of 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 buying an additional 146,319 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Power Integrations by 6.9% during the third quarter. California Public Employees Retirement System now owns 81,554 shares of the semiconductor company’s stock worth $5,970,000 after buying an additional 5,254 shares in the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Power Integrations during the fourth quarter worth approximately $4,560,000. 96.27% of the stock is owned by institutional investors and hedge funds.

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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 offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, liquid-crystal-display monitors, main and standby power supplies for desktop computers and TVs, light-emitting diode lamps, and other consumer and industrial applications.

Analyst Recommendations for Power Integrations (NASDAQ:POWI)

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