Needham & Company LLC Has Lowered Expectations for Power Integrations (NASDAQ:POWI) Stock Price

Power Integrations (NASDAQ:POWI) had its price objective cut by equities research analysts at Needham & Company LLC from $90.00 to $80.00 in a report released on Thursday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 23.86% from the company’s previous close.

Several other brokerages have also weighed in on POWI. Susquehanna lifted their price objective on Power Integrations from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Power Integrations in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Stifel Nicolaus lifted their price target on shares of Power Integrations from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Zacks Research lowered shares of Power Integrations from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Power Integrations presently has an average rating of “Hold” and a consensus price target of $72.67.

Power Integrations Stock Performance

NASDAQ POWI opened at $64.59 on Thursday. Power Integrations has a twelve month low of $30.86 and a twelve month high of $91.18. The stock has a market cap of $3.60 billion, a PE ratio of 143.54 and a beta of 1.58. The firm has a 50-day simple moving average of $73.61 and a 200 day simple moving average of $62.02.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. The firm had revenue of $118.94 million for the quarter, compared to analyst estimates of $117.44 million. Power Integrations had a return on equity of 5.50% and a net margin of 5.58%.The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 earnings per share. Research analysts forecast that Power Integrations will post 0.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Sunil Gupta sold 6,860 shares of Power Integrations stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $83.67, for a total value of $573,976.20. Following the completion of the transaction, the vice president owned 64,379 shares in the company, valued at approximately $5,386,590.93. The trade was a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Balu Balakrishnan sold 124,287 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $86.44, for a total value of $10,743,368.28. Following the completion of the transaction, the director directly owned 279,516 shares in the company, valued at $24,161,363.04. The trade was a 30.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 334,772 shares of company stock valued at $27,322,535. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Power Integrations

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Power Integrations in the second quarter worth $730,559,000. Deutsche Bank AG bought a new stake in shares of Power Integrations during the second quarter worth $12,573,000. Old West Investment Management LLC acquired a new stake in shares of Power Integrations in the second quarter valued at $1,553,000. Global Retirement Partners LLC acquired a new stake in shares of Power Integrations in the second quarter valued at $44,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Power Integrations in the second quarter valued at about $39,075,000.

About Power Integrations

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.