UPDATE: Sterne Agee Upgrades Power Integrations to Buy on Valuation - Power Integrations (NASDAQ:POWI)

27% profit every 20 days?

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Sterne Agee raised its rating on Power Integrations (NASDAQ: POWI) from Neutral to Buy with a $35 price target. Sterne Agee commented, "Yesterday, Power Integrations updated its September quarter guidance, lowering the revenue range but increasing the gross margin range. In light of weak December quarter revenue guidance (down 5%-10% Q/Q) from peers over the past two weeks, we believe downward revisions to estimates are already priced in. We are cutting our estimates and upgrading the stock to Buy from Neutral, using 18X our new 2013 EPS estimate of $1.94 (down from $2.37), implying a new $35 target."Power Integrations closed at $27.39 on Monday.

27% profit every 20 days?

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