Needham & Company Maintains a 'Buy' on Power Integrations (POWI); Straight Up The Fairway

Needham & Company maintains a 'Buy' on Power Integrations (NASDAQ: POWI) price target raised from $40 to $43.

Analyst, Veron Essi Jr, said, "POWI reported Q4 revenue in line with consensus and a couple cents of EPS upside, while guiding Q1 revenue in line (flat Q/Q) with a couple cents of EPS downside. We would view it as "in line" results and guidance with the added bonus of the highly debated GM showing improvement Q/Q of 50bps in Q4 and Q1 expected to be flat to up Q/Q by 50bps. Investors should find relief in POWI's guide relative to the plethora of analog peers that have guided down Q/Q. The only disappointment in our view was the relatively light LED revenue in Q4. We lowered our 2012 revenue/EPS from $320M/$1.80 to $311M/$1.70, and introduced our 2013 revenue/EPS of $339M/$2.00."

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 $37.06 yesterday.

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