Article published Sep 28, 2026. Prices below use latest available snapshots.
POWI Price Structure
Loading timeframes…
Power Integrations, Inc. has cratered and is only bouncing: 43.1% below its 52-week high and down 34.4% since June 29, despite rising 0.6% since August 28; it sits 10.0% below its 200-day average. At the 2026-09-28 settled close, POWI $51.84 was +3.1% versus its 20-day average and +0.6% over 30 days. The newest verified quarter ends 2026-06-30 (filed 2026-08-06); revenue was $118.9M. Against 2025-06-30 revenue of $115.9M, that is +2.7% year over year. About 114x trailing GAAP earnings (as of 2026-09-23 at $51.05) on an industrial recovery with unquantified AI optionality. The standing call is 🔴 Out until the 200-day is retaken. Entry $57–$60 on a 200-day reclaim with Q3 in the upper half of guidance · stop $51 · first target $65 · low-to-medium conviction.
Quick Snapshot (as of 2026-09-28)
| Question | Answer |
|---|---|
| The call | 🔴 Out until the 200-day is retaken. Entry $57–$60 on a 200-day reclaim with Q3 in the upper half of guidance · stop $51 · first target $65 · low-to-medium conviction |
| What is Power Integrations? | A fabless maker of high-voltage power-conversion chips that integrate switches, control and protection, with a GaN roadmap demonstrated up to 2,200 volts. |
| Why look now? | Prior case (2026-09-23): 800V data-center power architectures are the kind of problem its high-voltage GaN addresses, and the power-delivery group re-rated this week. |
| What is the proof? | Latest verified period ended 2026-06-30, filed 2026-08-06: revenue $118.9M. Prior case: Q2 revenue rose 10% sequentially to $118.9M but only 3% YoY; Q3 is guided to $122–$130M (Q2 10-Q and release). No material AI data-center revenue is disclosed. |
| What is the objection? | About 114x trailing GAAP earnings (as of 2026-09-23 at $51.05) on an industrial recovery with unquantified AI optionality. |
| Stock setup | The long trend is under test below its 200-day average; +3.1% versus the 20-day, -10.0% versus the 200-day, RSI 47.4. |
Action Matrix (reviewed 2026-09-28; levels are standing conditions)
| Signal | Condition | Level | Why |
|---|---|---|---|
| 🔴 Out | Below the 50- and 200-day | 200-day, $57.35 on 2026-09-23 | A group bounce is not a base |
| 🟡 Wait | Q3 results (due 2026-11-05) | $122–$130M guide | The upper half would show the recovery broadening |
| 🟢 Buy | A 200-day reclaim with Q3 in the upper half | $57–$60 | Needs the business and the tape together |
| 🟠 Target | First target | $65 | Near the August 7 close ($64.59), the post-Q2 high on this file's log |
| 🔴 Thesis breaks | The 2,200V roadmap staying demonstrations while peers win volume | — | The AI case is the whole premium |
The Story Right Now (as of 2026-09-28)
Power Integrations, Inc. has cratered and is only bouncing: 43.1% below its 52-week high and down 34.4% since June 29, despite rising 0.6% since August 28; it sits 10.0% below its 200-day average.
Data as of 2026-09-28 close: POWI $51.84, RSI 47.4, strong-down, +3.1% vs SMA20, -10.0% vs SMA200, 7D +4.7%, 30D +0.6%, 1Y +31.7%, -43.1% from the 52-week high.
Business and mechanism. A fabless maker of high-voltage power-conversion chips that integrate switches, control and protection, with a GaN roadmap demonstrated up to 2,200 volts.
Prior case (2026-09-23). 800V data-center power architectures are the kind of problem its high-voltage GaN addresses, and the power-delivery group re-rated this week.
Prior proof (2026-09-23). Q2 revenue rose 10% sequentially to $118.9M but only 3% YoY; Q3 is guided to $122–$130M (Q2 10-Q and release). No material AI data-center revenue is disclosed.
The countercase. About 114x trailing GAAP earnings (as of 2026-09-23 at $51.05) on an industrial recovery with unquantified AI optionality.
Newest statement check. The newest verified quarter ends 2026-06-30 (filed 2026-08-06); revenue was $118.9M. Against 2025-06-30 revenue of $115.9M, that is +2.7% year over year.
News and attention check. The news search for the latest move failed; the last completed search was on 2026-09-23. No company event for POWI was recorded between September 24 and 28.
The call: 🔴 Out until the 200-day is retaken. Entry $57–$60 on a 200-day reclaim with Q3 in the upper half of guidance · stop $51 · first target $65 · low-to-medium conviction.
Extended analysis
Price Data (live — latest settled close)
A live table: every cell shows the latest settled close, named in the first row. Dated readings live in the Research Log.
| Metric | Value |
|---|---|
| As of (settled close) | 2026-10-16 |
| Price ($) | 44.5 |
| RSI (14) | 30.3 |
| 20-day average ($) | 50.1 |
| vs 20-day (%) | -11.2 |
| 50-day average ($) | 52.71 |
| vs 50-day (%) | -15.6 |
| 200-day average ($) | 58.48 |
| vs 200-day (%) | -23.9 |
| 1D (%) | -1.05 |
| 7D (%) | -9.41 |
| 30D (%) | -6.61 |
| 3M (%) | -36.83 |
| 1Y (%) | -5.38 |
| 1Y vs benchmark (points) | -20.91 |
| From 52-week high (%) | -51.2 |
Prior Research (prepared by 2026-09-23; current call and filed-period check above)
Summary
Power Integrations has built a durable business by simplifying high-voltage power conversion. Its chips combine switches, drivers, controllers and protection that customers would otherwise assemble from several parts. The result can be smaller, more efficient and easier to design.
The company's newest technical claim is genuinely unusual. In June it demonstrated 2,200-volt gallium-nitride technology aimed at the next generation of high-voltage systems, extending beyond its earlier 1,250V and 1,700V work. That roadmap is relevant to 800V data-center distribution, grid infrastructure, renewables and industrial equipment.
The stock ran ahead of the income statement. Q2 shows a recovering industrial power company with strong R&D optionality. It does not yet show that AI data centers are a material revenue category. At roughly 6.4x trailing sales and 116x trailing GAAP earnings (as of 2026-09-28 at $51.84, price-only repricing of the September 23 basis), the difference matters.
Why This Moment Is Different
Q2 improved in the right places:
- Revenue rose 10% sequentially to $118.9M and 3% YoY.
- GAAP net income reached $9.8M, or $0.17 per share, versus $3.3M in Q1.
- Operating cash flow was $22.0M.
- Management said industrial markets grew, profitability improved, and inventory declined both internally and in distribution.
- Q3 revenue guidance of $122–130M implies about 6% sequential growth at the midpoint.
The technology roadmap moved too. POWI's 2,200V GaN demonstration extends the voltage range available from a supplier that says it has shipped more than 175 million GaN products. Technical maturity and field experience are meaningful advantages when customers care about reliability.
The missing bridge is production disclosure. A reference design or voltage record proves engineering capability. It does not reveal customer timing, content per rack, market share or revenue. The profile should change conviction only when those items begin appearing in shipments and guidance.
How the Business Makes Money
| Engine | Products | Where they are used |
|---|---|---|
| InnoSwitch, LinkSwitch and TinySwitch families | Integrated high-voltage switches and controllers for AC-DC conversion | Appliances, chargers, industrial controls, auxiliary power and consumer systems. |
| PowiGaN | Gallium-nitride switches integrated into power-conversion products | High-efficiency supplies spanning consumer through industrial and future data-center applications. |
| SCALE gate drivers | Drivers and protection for high-power IGBT and silicon-carbide modules | Renewable energy, grid, industrial motors, rail and high-power systems. |
| Motor-driver and related products | Integrated drive and control products | Appliances, fans, pumps and industrial equipment. |
The economic advantage is integration. Customers can replace many discrete components with one qualified device, reducing size, engineering effort and failure points. POWI's EcoSmart efficiency technology, safety features and long reliability history create real design-in friction.
The company uses external foundries and assembly partners, preserving an asset-light model while retaining proprietary process and design knowledge. That model still depends on supplier capacity, geopolitics and customer inventory. A large share of demand and manufacturing touches Asia, making trade policy and end-market volatility material risks.
What the Filing Says the Company Is Becoming
Power Integrations is extending an established low- and medium-power franchise into much higher-voltage systems. The destination is broader than AI: renewable generation, transmission, storage, industrial electrification and data centers all need efficient conversion.
The shift is evolutionary. Existing product families, patents and application engineers fund the new roadmap. Q2 cash flow and a balance sheet with roughly $263M of cash and short-term investments support that patience.
Leadership transition adds uncertainty. Longtime CEO Balu Balakrishnan retired from the chief-executive role, and Jen Lloyd now has to convert the technology portfolio into durable growth. The strategic language is clear. Segment-level revenue disclosure would make accountability clearer.
What the Street and Public Conversation Are Saying
The popular bull case places POWI on NVIDIA partner lists and treats high-voltage GaN as a direct claim on 800V AI racks. The physics supports the opportunity. The filing record does not yet quantify the revenue.
Fresh social search was dominated by recycled partner-list promotion. It surfaced no independent customer-volume or share work, leaving public discussion useful only as a sentiment indicator.
The aggregate insider feed reports no purchases and 58 sales, with roughly $39M of net selling over its captured period. Planned sales, compensation and leadership transition can account for part of that activity. It offers no positive signal, and it does not replace the more important test of data-center production revenue.
The Conviction Chain
| Link | Evidence today | What would strengthen it | What breaks it |
|---|---|---|---|
| High-voltage systems adopt GaN | POWI has demonstrated 2,200V GaN and shipped a large installed base at lower voltages. | Production platforms choose GaN for 800V data centers, grid and industrial systems. | Reliability, cost or competing SiC solutions limit adoption. |
| POWI converts technology into sockets | Reference designs and product announcements show technical readiness. | Named customers, production orders and disclosed high-voltage revenue. | The roadmap remains demonstrations while peers win volume. |
| New markets accelerate the company | Q2 revenue rose 10% QoQ and Q3 guide implies another sequential gain. | YoY growth reaches double digits with expanding operating margin. | Revenue stays near the old industrial-cycle range. |
| The valuation rewards the option | Balance sheet is strong, but the stock is about 6.4x TTM sales and 116x TTM GAAP earnings (as of 2026-09-28 at $51.84, price-only repricing of the September 23 basis). | AI and grid revenue become material before the multiple compresses. | Earnings normalize slowly and the market prices POWI as a mature analogue supplier. |
Conviction is Low-to-Medium: the technology and balance sheet are strong, while commercial AI evidence and valuation support remain weak.
Financial Proof
| Quarter | Revenue | Operating income | Net income | Diluted EPS |
|---|---|---|---|---|
| Q3 2025 | $118.9M | $(4.0)M | $(1.4)M | $(0.02) |
| Q4 2025 | $103.2M | $8.8M | $13.3M | $0.23 |
| Q1 2026 | $108.3M | $1.5M | $3.3M | $0.06 |
| Q2 2026 | $118.9M | $8.9M | $9.8M | $0.17 |
Trailing-four-quarter revenue is $449.4M and GAAP net income is $25.1M (unchanged — no newer quarter has filed; Q3 2026 is due 2026-11-05). As of 2026-09-23 at $51.05, equity value is about $2.85B on the desk's repriced market-capitalization field, which is about 6.3x sales and 114x earnings. Earlier rows used a larger quote-service capitalization, so the step from 6.71x/120x on September 18 is mostly a share-basis change. The calculation uses the four SEC-reported quarters above.
First-half operating cash flow was approximately $42M, and capital expenditure was about $6M. Cash and short-term investments ended Q2 near $263M. The company can finance a patient product ramp; current earnings do not make the stock inexpensive.
The Stock Setup (as of 2026-09-18 — history; the current setup is at the top of this page)
| Signal | September 18 reading | Interpretation |
|---|---|---|
| Price | $50.39 | Gave back the prior week's bounce; below the 200-day for a fourth cycle. |
| RSI (14) | 41.4 | Roughly flat vs 40.8, still under the midline. |
| 7D / 30D / 3M | -3.6% / -9.7% / -42.2% | The week turned negative again; the quarter deepened past a 40% loss. |
| 52-week drawdown | -44.7% | Widened from -42.7%. |
| SMA20 / SMA50 / SMA200 | -1.5% / -14.8% / -11.8% | Broken across all three; the 200-day gap widened from -7.9%. |
| One-year return | +10.6% | Down from +14.6%, with alpha1y -4.44 — no excess return over twelve months. |
The 200-day break persists into a fourth cycle and the gap widened this week from -7.9% to -11.8%. Negative one-year relative performance is what separates this name from its peers: Vicor, Monolithic Power and Navitas all carry large positive twelve-month alpha, and this one does not. A better setup would still pair Q3 revenue near the upper half of guidance with a reclaim of the 200-day at $57.12 and improving year-over-year growth. Friday's +2.52% came alongside gains across the AI-power peers on quarterly options expiry, with no POWI-specific cause on file; the news cache was last written 2026-08-23. No scheduled event beyond the routine dividend is on file for this window.
What to Watch Next
- Q3 revenue: $122–130M should show continued industrial recovery.
- AI disclosure: look for production revenue, named platforms or quantified content rather than another partner list.
- 2,200V roadmap: customer qualification and reliability milestones determine commercial value.
- Operating leverage: revenue growth should produce sustained double-digit GAAP operating margin.
- Leadership: Jen Lloyd's capital allocation and segment disclosure will define the post-founder-CEO era.
Financial Proof
Filed-period check (as of 2026-09-28): The newest verified quarter ended 2026-06-30 and was filed 2026-08-06. Revenue was $118.9M; GAAP net income was $9.8M; diluted EPS was 0.17. Source: Massive income statements and the filing. Dated historical tables below retain their own period basis.
The recent filed revenue series shows the direction of the business; missing cells are left unavailable.
| Period end | Revenue | YoY | Operating income | GAAP net income | Filing date |
|---|---|---|---|---|---|
| 2024-09-30 | $115.8M | — | $11.6M | $14.3M | 2024-11-06 |
| 2025-03-31 | $105.5M | — | $6.7M | $8.8M | 2025-05-12 |
| 2025-06-30 | $115.9M | — | −$1.3M | $1.4M | 2025-08-06 |
| 2025-09-30 | $118.9M | +2.7% | −$4.0M | −$1.4M | 2025-11-05 |
| 2026-03-31 | $108.3M | +2.6% | $1.5M | $3.3M | 2026-05-07 |
| 2026-06-30 | $118.9M | +2.7% | $8.9M | $9.8M | 2026-08-06 |
Refresh History
| Date | Price | What changed |
|---|---|---|
| 2026-05-01 | — | Initial high-voltage GaN profile. |
| 2026-05-29 | $84.00 | Technology rerating persisted after Q1. |
| 2026-06-16 | $79.33 | Momentum cooled near the 20-day average. |
| 2026-07-11 | $72.07 | Price broke below short-term support. |
| 2026-07-17 | $70.45 | Pullback continued. |
| 2026-07-25 | $63.46 | Large one-day drop ended the prior technical setup. |
| 2026-07-28 | $59.20 | Price approached the old stop area. |
| 2026-07-31 | $60.71 | Small stabilization. |
| 2026-08-08 | $64.59 | Q2 beat was followed by a negative print reaction, then a bounce. |
| 2026-08-14 | $62.75 | Bounce faded. |
| 2026-08-22 | $55.18 | Q2 filing and 2,200V announcement incorporated: industrial recovery is real; AI revenue remains unquantified. |
| 2026-08-28 | $51.51 | Tape update: no new filing this cycle. RSI 32.8, price broke below the 200-day (-8.0%) for the first time, -43.5% from high. Stock-events checked: none new. News not pulled for this move — the POWI cache was last fetched 2026-08-23, stale relative to this week's decline. |
| 2026-09-04 | $50.45 | Tape update: no new filing this cycle (newest cached quarter is still Q2 2026). RSI roughly flat at 32.7, 30D deepened to -18.6%, still below the 200-day (-10.5%), -44.7% from high. Multiples restated at the new price (6.71x TTM sales, 120x TTM GAAP net income, both down slightly on price alone). Only stock-event on file is the routine $0.215 quarterly dividend (ex-date 2026-08-31). News not pulled for this move — cache last fetched 2026-08-23, now nearly two weeks stale. |
| 2026-09-11 | $52.28 | Tape update: no new filing this cycle (newest cached quarter is still Q2 2026; Q3 2026 due 2026-11-05). RSI warmed to 40.8, 7D turned positive (+3.6%, incl. a +5.2% single-day move on 09-11), 30D roughly flat at -18.1%, still below the 200-day (-7.9%, narrowed from -10.5%), -42.7% from high (narrowed from -44.7%). Multiples restated at the new price (6.96x TTM sales, 125x TTM GAAP net income, both up slightly on the higher price). Stock-events checked: none new. News not pulled for this move — cache last fetched 2026-08-23, now roughly three weeks stale; the 09-11 pop coincided with a broad AI-power cohort rally (VICR, NVTS, MPWR also up that day), not a confirmed POWI-specific catalyst. |
| 2026-09-18 | $50.39 | Tape update: no newly filed period on disk (newest filed quarter still ends 2026-06-30, filed 2026-08-06; Q3 2026 due 2026-11-05). RSI 41.4, 7D -3.62% (giving back the prior week's bounce), 30D -9.68%, 3M -42.15%, -44.74% from high. Fourth cycle below the 200-day and the gap widened to -11.8% (from -7.9%). 1Y +10.58% with alpha1y -4.44 — no twelve-month excess return, while the power-semiconductor peers Vicor, Monolithic Power and Navitas all carried positive ones; alongside the widening 200-day break, that reads as a broken long trend rather than a deep pullback inside a good one. Multiples restated at the new price (6.71x TTM sales, 120x TTM GAAP net income, both down on the lower price). Stock-events checked: no POWI row dated 2026-09-12 to 2026-09-18 beyond the routine quarterly dividend. News not pulled for this move — receipt last written 2026-08-23. |
| 2026-09-23 | $51.05 | Tape update: no newly filed period on disk (newest filed quarter still ends 2026-06-30, filed 2026-08-06; Q3 due 2026-11-05). RSI 44.6, 7D +7.14%, 1D -0.80%, 30D -4.01%, 3M -37.64%, -44.01% from the high; -11.0% below the 200-day, -11.9% below the 50-day. 1Y +22.89% with a one-year excess return of +7.12 points — the twelve-month excess return turned positive, retiring last week's 'no twelve-month excess return' reading; the chart is still broken. Moved with the AI power-delivery group on Vicor's guidance raise. Multiples restated on the repriced market-cap field (6.3x TTM sales, 114x TTM GAAP net income — mostly a share-basis change). Stock-events checked: no POWI row dated 2026-09-19 to 2026-09-23. News not pulled for this move — receipt last written 2026-08-23. |
| 2026-09-28 | $51.84 | RSI 47.4; +3.1% vs SMA20; 30D +0.6%. The long trend is under test below its 200-day average; The newest verified quarter ends 2026-06-30 (filed 2026-08-06); revenue was $118.9M. Against 2025-06-30 revenue of $115.9M, that is +2.7% year over year. The news search for the latest move failed; the last completed search was on 2026-09-23. No company event for POWI was recorded between September 24 and 28. |
Sources
- Power Integrations Q2 2026 results — revenue, profitability, cash flow, inventory commentary and Q3 outlook.
- Power Integrations Q2 2026 Form 10-Q — financial statements, cash flow and filed risks.
- Power Integrations 2,200V GaN demonstration — technology scope and target applications.
- Power Integrations 2025 Form 10-K — business model, products, supply chain, competition and filed risks.
- POWI{massive,edgar,news}/` — financial series and freshness receipts.
- ai-power — September 23, 2026 price truth and repriced market-capitalization field.
- 2026-09-22-market-brief — the power-supply group's move on Vicor's guidance raise.
- latest — news receipt, fetched 2026-08-23, before this move.
research/stock-events/— no POWI row dated 2026-09-12 to 2026-09-23.- 2026-09-17-market-brief — quarterly options expiry on Friday 2026-09-18.
- 2026-08-23-social-search-powi-power-integrations — public-discussion quality check.
- filings — primary Form 4 links supporting the insider-activity context.
2026-09-28 refresh receipts
2026-09-28 settled-close receipt: *, POWI row dated 2026-09-28; tape values above are bound to the current summary fields.
2026-09-28 financial-period check: income-statements and key-financials; newest verified 2026-06-30 period, filed 2026-08-06 (Massive statement / SEC period cross-check).
2026-09-28 news receipt check: latest, fetched 2026-09-23; receipt is not current; latest-session cause remains unassigned.
2026-09-28 stock-event scan:
research/stock-events/, no POWI row dated 2026-09-24 through 2026-09-28.2026-09-28 captured-follows scan: tweets has 0 September 24–28 document(s) tagging POWI.
Retrospective social-search receipt (captured 2026-09-29): 2026-09-29-social-search-powi-power-integrations-inc; quality/attention check only, not a September 28 event or price source.
2026-09-29 browser discovery check for POWI: news-discovery-google-sep29 (key
POWI); search links only, not evidence of an event or of absence of news.
Correction (2026-10-09): Two statements in this profile were wrong and are corrected in place. The September 18 Refresh History row called POWI "the one name in the tracked AI-power group with no twelve-month excess return". It was not. On September 18, 20 of the 53 names in that group with a year of price history had negative one-year excess returns against SPY, including Eaton, Hubbell and Alpha and Omega Semiconductor. What was true, and what the row now says, is narrower: Vicor, Monolithic Power and Navitas had positive twelve-month excess returns and POWI did not. In the Action Matrix, the first target cited "the August 8 close ($64.59)". August 8 was a Saturday; $64.59 is the August 7 close. No call, level or conviction changes.