Power Integrations (NASDAQ:POWI) Reaches New 1-Year Low on Analyst Downgrade

Power Integrations, Inc. (NASDAQ:POWI) shares reached a new 52-week low on Wednesday after TD Cowen lowered their price target on the stock from $80.00 to $70.00. TD Cowen currently has a hold rating on the stock. Power Integrations traded as low as $61.00 and last traded at $62.83, with a volume of 70532 shares trading hands. The stock had previously closed at $64.27.

Other analysts also recently issued reports about the stock. Benchmark restated a “buy” rating and issued a $90.00 target price on shares of Power Integrations in a report on Friday, June 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $95.00 price target (down from $100.00) on shares of Power Integrations in a research note on Monday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Power Integrations has a consensus rating of “Moderate Buy” and an average price target of $84.40.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, insider David Mh Matthews sold 9,500 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $77.17, for a total value of $733,115.00. Following the completion of the sale, the insider now directly owns 53,729 shares of the company’s stock, valued at approximately $4,146,266.93. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Sandeep Nayyar sold 4,839 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $77.25, for a total value of $373,812.75. Following the completion of the sale, the chief financial officer now owns 90,198 shares of the company’s stock, valued at approximately $6,967,795.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Mh Matthews sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $77.17, for a total transaction of $733,115.00. Following the completion of the sale, the insider now directly owns 53,729 shares of the company’s stock, valued at approximately $4,146,266.93. The disclosure for this sale can be found here. Insiders sold a total of 32,100 shares of company stock valued at $2,481,667 in the last three months. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Power Integrations

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC bought a new position in shares of Power Integrations during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. raised its stake in shares of Power Integrations by 369.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 408 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 321 shares in the last quarter. Mather Group LLC. bought a new position in shares of Power Integrations during the 1st quarter worth approximately $51,000. Fidelis Capital Partners LLC bought a new position in shares of Power Integrations during the 1st quarter worth approximately $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Power Integrations during the 2nd quarter worth approximately $63,000.

Power Integrations Stock Performance

The stock has a market cap of $3.59 billion, a P/E ratio of 69.86, a price-to-earnings-growth ratio of 3.81 and a beta of 1.11. The firm’s 50 day moving average is $72.58 and its 200 day moving average is $72.54.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter. Power Integrations had a net margin of 12.28% and a return on equity of 6.13%. The business had revenue of $91.69 million for the quarter, compared to analyst estimates of $89.98 million. As a group, analysts expect that Power Integrations, Inc. will post 0.73 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were paid a dividend of $0.20 per share. The ex-dividend date was Friday, May 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.27%. Power Integrations’s payout ratio is 86.96%.

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.