Power Integrations (POWI), Bellweather for Semis is Seeing a Drop in Demand - Northland

Northland Capital Markets analyst Gus Richards reiterated a Market Perform rating and $69.00 price target on Power Integrations (NASDAQ: POWI) after checks indicate that that cell build forecasts have collectively been trimmed by as much as 200M units this quarter.

The analyst stated "POWI is typically the first semiconductor company to see a change in demand. Cell phone chargers are the most volatile part of POWI’s revenue, and it has seen strong growth for its GaN-based chargers. OEMs took chargers out of the box and 3rd party suppliers ramped output. POWI has also grown with fast charger adoption. We are seeing a slowdown in phone demand, but due to low channel inventory, POWI is unlikely to see weakness in 2Q we expect an impact in Q3."

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 $78.82 yesterday.

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