Power Integrations price target lowered to $69 from $80 at Northland

Northland lowered the firm’s price target on Power Integrations (POWI) to $69 from $80 and keeps an Outperform rating on the shares. Power Integrations’ design win momentum remains strong in high power, automotive, TVs, and computing and while the company is guiding down consumer revenue in Q2, this is offset by stronger demand in the industry and computer, the analyst tells investors. Share repurchases should help support the current share price, though the firm cut its price target on multiple compression, the analyst tells investors.