Tore Svanberg, an analyst from Stifel Nicolaus, maintained the Buy rating on Power Integrations. The associated price target remains the same with $56.00.
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Tore Svanberg has given his Buy rating due to a combination of factors including the strategic leadership changes at Power Integrations. The appointment of Nancy Erba as CFO, who brings nearly two decades of experience in financial leadership roles, is seen as a significant positive development for the company.
Additionally, the company is entering the next calendar year with a strong management team, further supported by strategic initiatives led by the newly-appointed CEO, Dr. Jennifer Lloyd. The attractive current valuation of the stock, trading at 3.0 times tangible book value per share, also contributes to the positive outlook. These elements together suggest a potential for long-term growth acceleration, providing a favorable environment for investors.
In another report released on November 6, Benchmark Co. also maintained a Buy rating on the stock with a $50.00 price target.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of POWI in relation to earlier this year.