Power Integrations (NASDAQ:POWI) Stock Price Target Lowered at Needham & Company LLC

Power Integrations (NASDAQ:POWI) had its price target reduced by Needham & Company LLC from $80.00 to $65.00 in a report issued on Thursday, MarketBeat reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Several other research firms have also weighed in on POWI. Zacks Research lowered Power Integrations from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings raised shares of Power Integrations from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Williams Trading set a $80.00 price objective on shares of Power Integrations in a research report on Thursday, August 6th. Stifel Nicolaus set a $62.00 target price on shares of Power Integrations in a research note on Thursday. Finally, Wall Street Zen raised shares of Power Integrations from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.67.

Power Integrations Price Performance

Shares of POWI stock opened at $38.84 on Thursday. Power Integrations has a 1 year low of $30.86 and a 1 year high of $91.18. The stock’s 50 day simple moving average is $49.17 and its two-hundred day simple moving average is $58.58. The company has a market cap of $2.17 billion, a PE ratio of 52.58 and a beta of 1.58.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Wednesday, November 4th. The semiconductor company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $125.48 million during the quarter, compared to analysts’ expectations of $126.03 million. Power Integrations had a return on equity of 7.42% and a net margin of 9.81%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. Equities research analysts expect that Power Integrations will post 0.77 EPS for the current year.

Power Integrations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, November 30th will be issued a $0.2150 dividend. This represents a $0.86 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, November 30th. Power Integrations’s dividend payout ratio is presently 108.86%.

Institutional Investors Weigh In On Power Integrations

A number of institutional investors and hedge funds have recently modified their holdings of POWI. Harbor Investment Advisory LLC purchased a new stake in shares of Power Integrations during the second quarter valued at $33,000. Allworth Financial LP purchased a new position in Power Integrations in the 2nd quarter worth about $42,000. Global Retirement Partners LLC purchased a new position in Power Integrations in the 2nd quarter worth about $44,000. Northwestern Mutual Wealth Management Co. bought a new stake in Power Integrations during the 2nd quarter valued at about $48,000. Finally, Heritage Family Offices LLP bought a new stake in Power Integrations during the 3rd quarter valued at about $32,000.

Key Headlines Impacting Power Integrations

Here are the key news stories impacting Power Integrations this week:

• Positive Sentiment: Q3 adjusted earnings were $0.46 per share, above the $0.42 consensus and up from $0.36 a year earlier. Revenue grew 5.5% year over year to $125.48 million. Power Integrations Q3 Earnings Surpass Estimates
• Positive Sentiment: Management expects to expand its serviceable addressable market to twice its current size by 2031, and cited GaN-driven growth. This offers a potential longer-term growth driver. Power Integrations targets doubling SAM by 2031
• Neutral Sentiment: Power Integrations guided to Q4 revenue of $118 million to $126 million. The outlook provides a near-term benchmark, though the provided reports do not establish how it compares with market expectations. Q4 revenue guidance and market opportunity
• Negative Sentiment: Q3 revenue of $125.48 million was just below the $126.03 million consensus. Susquehanna cut its target from $70 to $55 while retaining a positive rating; Needham reduced its target from $80 to $65 but kept a buy rating. Target cuts may weigh on sentiment despite the favorable ratings. Susquehanna price-target report

Power Integrations Company Profile

Power Integrations, Inc designs and manufactures high-performance semiconductor technologies used in energy-efficient power conversion. Its products help convert and control electrical power in applications such as consumer electronics, appliances, industrial equipment, communications infrastructure, renewable-energy systems, and electric vehicles.

The company’s product portfolio includes integrated circuits for AC-to-DC and DC-to-DC power supplies, LED lighting drivers, power-factor correction, motor drives, and high-voltage gate driving.