Northland upgraded Power Integrations to Outperform from Market Perform with an $80 price target. The company tends to lead the cycle by two quarters, says the firm, which does not expect the need to cut estimates. Channel inventory is cleared and Power’s volatile low-margin cell phone charger business has stabilized at low levels, the analyst tells investors in a research note. The firm says the company has strong design win momentum with leading gallium nitride technology.
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