As previously reported, Stifel analyst Tore Svanberg downgraded Power Integrations to Hold from Buy, arguing that multiple recent industry data points seem to suggest the analog and mixed-signal semiconductor markets are peaking. While he contends that Power "maintains a pristine balance sheet," he thinks its broad revenue base leave it more vulnerable to a cyclical slowdown, Svanberg tells investors. He also has concerns about tariff-related uncertainties, as he thinks the company was likely one of the first to be impacted by early rounds of tariffs on consumer appliances. Svanberg lowered his price target on Power Integrations shares to $75 from $85.