Citadel Securities Maintains an 'Edge Negative' on Power Integrations (POWI); Consumer and Computing Exposure Problematic for 3Q
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Price: $62.75 +0.71%
Rating Summary:
9 Buy, 8 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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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.
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.
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