Power Integrations Inc (POWI) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 70 from a previous price target of $63 . Stifel advised their investors in a research report released on Oct 13, 2016.
On the company’s financial health, Power Integrations Inc reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.50. The company had revenue of $97.20 million for the quarter, compared to analysts expectations of $90.98 million. The company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.
Power Integrations Inc closed down -0.85 points or -1.34% at $62.44 with 2,19,470 shares getting traded on Tuesday. Post opening the session at $62.91, the shares hit an intraday low of $62.15 and an intraday high of $63.03 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Oct 11, 2016, Doug Bailey (VP Marketing) sold 960 shares at $64.13 per share price. According to the SEC, on Oct 11, 2016, Balu Balakrishnan (President and CEO) sold 14,400 shares at $63.61 per share price. On Oct 4, 2016, Ben Sutherland (VP of Sales) sold 4,848 shares at $62.50 per share price, according to the Form-4 filing with the securities and exchange commission.
Power Integrations Inc. (Power Integrations) develops and markets analog and mixed-signal integrated circuits (ICs) and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use. The Company’s AC-DC power conversion products are TinySwitch LinkSwitch Hiper and InnoSwitch families. Its Insulated-gate bipolar transistors (IGBT) drivers products are the SCALE and SCALE-2 product-families. The Company’s High-voltage DC-DC products are DPA-Switch family. The Company’s power supplies are used with various electronic products including mobile phones computers entertainment and networking equipment appliances utility meters industrial controls and light emitting diodes (LED) lights. It sells its products to original equipment manufacturers (OEMs) and merchant power supply manufacturers.