David Williams, an analyst from Benchmark Co., reiterated the Buy rating on Power Integrations. The associated price target was lowered to $50.00.
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David Williams has given his Buy rating due to a combination of factors that highlight Power Integrations’ potential for future growth. Despite a recent dip in guidance, the company is positioned for sustainable double-digit growth, supported by a robust product pipeline and new leadership. The introduction of high voltage GaN products marks a significant technological advancement, allowing Power Integrations to compete effectively in various sectors such as Industrial, Automotive, and Data Center applications.
Furthermore, the Industrial market has shown impressive growth, driven by demand in grid modernization and HV DC transmission. Although the Consumer segment faces challenges due to tariff-related inventory issues, improvements are expected by year-end. The Data Center presents a significant growth opportunity, with Power Integrations developing new products that could drive long-term revenue. These factors collectively underpin Williams’s confidence in the company’s growth trajectory, justifying the Buy rating.