Power Integrations

POWI · NASDAQ

$46.97+$1.51 (+3.32%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $45.46

POWI analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy3
Hold0
Underperform0
Sell0

12-month price target · 5 analysts

Average $83.30 (+77.3% upside)

Low: $80.80
Now: $46.97
High: $89.25

Upgrades and downgrades

The latest rating actions, newest first

POWI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Stifel	Oct 5, 2026	Maintains	Buy	$80.00 → $72.00	62%
Stifel	Aug 6, 2026	Maintains	Buy	$95.00 → $80.00	62%
Needham	Aug 6, 2026	Maintains	Buy	$90.00 → $80.00	51%
Stifel	Jun 24, 2026	Maintains	Buy	$82.00 → $95.00	62%
Needham	Jun 10, 2026	Initiates	Buy	$90.00	51%
Susquehanna	May 8, 2026	Maintains	Positive	$70.00 → $85.00	60%
Stifel	Apr 16, 2026	Maintains	Buy	$56.00 → $62.00	62%
Benchmark	Apr 6, 2026	Maintains	Buy	$55.00 → $65.00	51%
Benchmark	Feb 6, 2026	Maintains	Buy	$55.00	51%
Susquehanna	Jan 22, 2026	Maintains	Positive	$50.00 → $53.00	60%

The case for and against

Updated Oct 17, 2026

Bull case

Power Integrations is emerging from a cyclical trough with improving industrial demand, rising 3% QoQ and 10% YoY in the second quarter, while industrial itself grew 14% QoQ on broad-based strength and remains the primary near-term growth driver. Its differentiated high-voltage GaN portfolio and integrated power-conversion products create a durable moat, with more than 175M PowiGaN devices in the field, gross margin of 55.1% in the second quarter, and a clean balance sheet supporting continued investment. Inventory normalization is also strengthening the setup, as internal inventory fell to 265 days and channel inventory declined to 7.3 weeks, while higher-value opportunities in data center, automotive, grid, and industrial markets should expand content and earnings over time.

Bear case

Power Integrations is viewed negatively because its growth thesis depends heavily on data center and industrial demand that could materialize slower than expected, leaving FY28 EPS only in the $2.30 to $2.50 range and limiting upside. The company also faces meaningful competitive risk if a merchant 1200V+ GaN alternative closes the 1250V/1700V gap or onsemi vGaN qualifies at volume, which would pressure pricing power and cap the multiple even if revenue holds. In addition, revenue has already been volatile, falling from a peak of $703M in 2021 to $419M in 2024, while macro, geopolitical, and China/Hong Kong concentration risks could further disrupt recovery.

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