Power Integrations (NASDAQ:POWI) Trading 6.5% Higher – Here’s Why

Power Integrations, Inc. (NASDAQ:POWI) shares rose 6.5% on Friday . The stock traded as high as $53.01 and last traded at $52.9150. Approximately 187,222 shares changed hands during trading, a decline of 81% from the average daily volume of 975,813 shares. The stock had previously closed at $49.69.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Williams Trading set a $80.00 price objective on shares of Power Integrations in a research note on Thursday, August 6th. Weiss Ratings upgraded Power Integrations from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Wall Street Zen raised Power Integrations from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Needham & Company LLC decreased their price objective on shares of Power Integrations from $90.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, Stifel Nicolaus dropped their target price on shares of Power Integrations from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.67.

Power Integrations Stock Up 5.2%

The firm has a market cap of $2.92 billion, a P/E ratio of 116.18 and a beta of 1.54. The business has a fifty day simple moving average of $60.79 and a 200-day simple moving average of $63.60.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $118.94 million for the quarter, compared to analysts’ expectations of $117.44 million. Power Integrations had a net margin of 5.58% and a return on equity of 5.50%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS. On average, sell-side analysts anticipate that Power Integrations, Inc. will post 0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Power Integrations

Several large investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC bought a new position in Power Integrations during the 2nd quarter valued at approximately $204,000. Tidal Investments LLC boosted its holdings in Power Integrations by 33.6% in the second quarter. Tidal Investments LLC now owns 14,258 shares of the semiconductor company’s stock worth $1,194,000 after acquiring an additional 3,582 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Power Integrations in the second quarter worth $815,000. Baird Financial Group Inc. purchased a new stake in shares of Power Integrations in the second quarter worth $263,000. Finally, Nykredit A S purchased a new position in shares of Power Integrations in the 2nd quarter worth about $141,000.

About Power Integrations

Power Integrations, Inc is a semiconductor company that designs and manufactures high-performance, energy-efficient power-conversion products. Its technologies are used to convert and control electrical power in devices such as consumer electronics, appliances, industrial equipment, communications systems, chargers, adapters and automotive applications.

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