Power Integrations price target raised to $53 from $50 at Susquehanna

Susquehanna raised the firm’s price target on Power Integrations (POWI) to $53 from $50 and keeps a Positive rating on the shares. The firm updated targets in the semiconductor group as a part of an earnings preview. Susquehanna generally expects in-line results to modest upside in Q4, amid a “steadying upcycle” and a broadening of the artificial intelligence infrastructure supply chain. While the industrial end market is improving, auto remains somewhat challenged, the analyst tells investors in a research note.