Power Integrations (POWI): Raising PT After Non Deal Roadshow - Stifel

Stifel analyst, Tore Svanberg, reiterated his Buy rating on shares of Power Integrations (NASDAQ: POWI) and raised his price target to $82 after hosting the CEO and CFO for a non deal roadshow. The analyst had 5 takeaways:

1) Near-term, the company continues to track well towards the higher end of the company’s previous revenue guidance ($104mn-$110mn) for the June 2017 quarter.

2) InnoSwitch continues to drive near-term revenue growth, with USB-PD adding a significant growth layer in 2H17/CY18.

3) High-power Industrial applications (motor drivers, energy distribution, etc.) offer further LT revenue growth drivers.

4) There has been speculation regarding: (a) POWI’s potential penetration into iPhone 8 platform and (b) POWI’s attractiveness as an acquisition target.

5) Litigation in one significant case with a $140mn damage award in POWI’s favor is expected to be resolved in CY18.

The new PT of $82 is up from $75.

For an analyst ratings summary and ratings history on Power Integrations click here. For more ratings news on Power Integrations click here.

Shares of Power Integrations closed at $74.10 yesterday.

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