Citadel Securities Maintains an 'Edge Negative' on Power Integrations (POWI); Consumer and Computing Exposure Problematic for 3Q
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Price: $43.69 -3.3%
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade POWI Now!
Citadel Securities maintains an 'Edge Negative' on Power Integrations (NASDAQ: POWI) price target of $24.00.
Citadel analyst says, "We are modeling 2Q sales of $79.1MM (+3% qoq) and EPS (including ESO) of $0.34, both of which are roughly in line with consensus of $79.5MM in sales (+3%) and $0.35 EPS. This compares to sales guidance of $76-82MM, which assumes 1-2 percentage points of demand loss due to disruptions in Japan, and flat GMs qoq. As for 3Q, we are currently modeling sales growth of 3% qoq to $81.4MM and EPS of $0.35, both of which are well below consensus estimates ($84.9MM and $0.43). As with Intersil (Nasdaq: ISIL), we are particularly concerned about POWI's 3Q in light of TI's (NYSE: TXN) commentary regarding computing and consumer, which together accounted for 48% of revenue in 2Q (75% if we include wireless handsets)."
For more ratings news on Power Integrations click here and for the rating history of Power Integrations click here.
Shares of Power Integrations closed at $38.07 yesterday, with a 52 week range of $26.26-$43.88.
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Citadel analyst says, "We are modeling 2Q sales of $79.1MM (+3% qoq) and EPS (including ESO) of $0.34, both of which are roughly in line with consensus of $79.5MM in sales (+3%) and $0.35 EPS. This compares to sales guidance of $76-82MM, which assumes 1-2 percentage points of demand loss due to disruptions in Japan, and flat GMs qoq. As for 3Q, we are currently modeling sales growth of 3% qoq to $81.4MM and EPS of $0.35, both of which are well below consensus estimates ($84.9MM and $0.43). As with Intersil (Nasdaq: ISIL), we are particularly concerned about POWI's 3Q in light of TI's (NYSE: TXN) commentary regarding computing and consumer, which together accounted for 48% of revenue in 2Q (75% if we include wireless handsets)."
For more ratings news on Power Integrations click here and for the rating history of Power Integrations click here.
Shares of Power Integrations closed at $38.07 yesterday, with a 52 week range of $26.26-$43.88.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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