2023-05-01 09:14:15 ET
- Power Integrations ( NASDAQ: POWI ) shares rose almost 3% in pre-market trading Monday as Northland Capital Markets analyst Gus Richard raised his rating on the mixed-signal semiconductor maker to outperform.
- Richard lifted his rating on Power Integrations ( POWI ) from market perform, or neutral, on the grounds that the company is "a leading indicator of inventory cycles." Richard said Power Integrations "saw the inventory correction in mobile phones two quarters before the rest of the industry," and is "likely" to see the corresponding recovery two quarters before other such mobile-phone component suppliers.
- Richard added that even though Power Integrations ( POWI ) had previously forecast its first-quarter sales to decline by 15% on a quarter-over-quarter basis, "We reviewed our estimates and find it hard to believe they will miss our consensus (forecasts)" of $106M.
- Wall Street analysts and Seeking Alpha authors both have consensus buy ratings on Power Integrations' ( POWI ) shares, while Seeking Alpha's Quant System, which historically outperforms the stock market, gives the company's shares a hold rating.
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Power Integrations shares rise as Northland cites better inventories