Power Integrations, Inc. (POWI) Maintains Buy Rating; Price Target Raised

Analyst Vernon Essi, Jr. at Needham has released an update on Power Integrations, Inc. (NASDAQ: POWI).

Needham continues to believe that the company is taking shares in energy efficiency design implementations and the overall market is on a significant uptrend. It believes that although shares of the company have performed well over the past couple of months along with the rest of the sector, they warrant a further P/E expansion.

Needham has maintained its Buy rating and raised the price target from $40 to $46 for Power Integrations, Inc.