In a report released today, Gus Richard from Northland Securities maintained a Hold rating on Power Integrations (POWI), with a price target of $52. The company’s shares closed on Thursday at $77.22, close to its 52-week high of $80.50.
Richard wrote:
“We do not expect POWI to report in-line and guide roughly in-line with a small bias for lower revenues in Q2. What remains to be seen is how strong 2H:19 will be. Visibility into 2H will not be clear until Q2:19 reporting season in July. However, we believe POWI is overly optimistic about growth of its consumer business in the 2H. While consensus does not reflect POWI’s optimism the share price does. We maintain MP rating.”
According to TipRanks.com, Richard is a top 100 analyst with an average return of 25.4% and a 71.6% success rate. Richard covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Akoustis Technologies, and PDF Solutions.
The word on The Street in general, suggests a Hold analyst consensus rating for Power Integrations with a $59.67 average price target.
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The company has a one-year high of $80.50 and a one-year low of $47.35. Currently, Power Integrations has an average volume of 142.2K.
Based on the recent corporate insider activity of 99 insiders, corporate insider sentiment is negative on the stock. Most recently, in February 2019, Alan Bickell, a Director at POWI sold 1,666 shares for a total of $118,469.
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Power Integrations, Inc. engages in the design, development and marketing of analog and mixed-signal integrated circuits and other electronic components and circuitry used in highvoltage power conversion. Its products are used in power converters that convert electricity from a high-voltage source to the type of power required for a specified downstream use.
