Canaccord Genuity Reiterates a 'Buy' on Power Integrations (POWI); Favorable Ruling
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Price: $62.89 -1.67%
Rating Summary:
9 Buy, 8 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
9 Buy, 8 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Canaccord Genuity reiterates a 'Buy' on Power Integrations (NASDAQ: POWI) price target of $43.00.
Ana;ust. Vernon Essi, Jr, said, "Friday evening POWI announced that a verdict had been reached in its 2008 patent-infringement lawsuit against Fairchild Semiconductor (NYSE: FCS)(N/R). POWI will seek an injunction from the judge on the case and, if upheld, which we believe is likely, this would ultimately impact approximately 75 products sold by Fairchild. Included in this product list are multiple Green-Mode branded parts from Fairchild, including those that directly compete with POWI’s switch mode power conversion products. There were two counterclaims in the case, one of which was found to be valid and infringed upon by POWI. Despite Fairchild’s positive release on the results of the trial, the counterclaim involves products that represent a negligible (0.1%) portion of POWI’s annual revenue. We anticipate the supply chain will begin the process of designing out the infringed parts, which we believe will open up market share to POWI and other suppliers at the expense of Fairchild. It is important to
note that POWI and Fairchild were involved in a previous IP case in which both parties had a positive spin on the verdict, but Fairchild was handed a permanent injunction on more than 100 products in that matter."
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 $37.95 yesterday.
Ana;ust. Vernon Essi, Jr, said, "Friday evening POWI announced that a verdict had been reached in its 2008 patent-infringement lawsuit against Fairchild Semiconductor (NYSE: FCS)(N/R). POWI will seek an injunction from the judge on the case and, if upheld, which we believe is likely, this would ultimately impact approximately 75 products sold by Fairchild. Included in this product list are multiple Green-Mode branded parts from Fairchild, including those that directly compete with POWI’s switch mode power conversion products. There were two counterclaims in the case, one of which was found to be valid and infringed upon by POWI. Despite Fairchild’s positive release on the results of the trial, the counterclaim involves products that represent a negligible (0.1%) portion of POWI’s annual revenue. We anticipate the supply chain will begin the process of designing out the infringed parts, which we believe will open up market share to POWI and other suppliers at the expense of Fairchild. It is important to
note that POWI and Fairchild were involved in a previous IP case in which both parties had a positive spin on the verdict, but Fairchild was handed a permanent injunction on more than 100 products in that matter."
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 $37.95 yesterday.
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