Why Shares Of Power Integrations Are Rallying On Friday

Power Integrations POWI shares are trading higher after the company reported better-than-expected Q2 EPS and sales results.

The company late Thursday reported a 69% year-over-year increase in revenues, while EPS of $0.83 came in above the consensus estimate of $0.75. 

''This growth reflects significant market-share gains and the impact of secular trends such as energy efficiency, electrification, advanced charging for mobile devices, and smarter homes, buildings and appliances,' said CEO Balu Balakrishnan.

Power Integrations, Inc. designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) and other electronic components and circuitry used in high-voltage power conversion worldwide.