Loop Capital has transferred its coverage of Power Integrations to David Williams, who is maintaining a Hold rating and lowering the price target to $76 on the stock. The analyst says his recent discussions with the company's CFO highlighted the management's cautious assessment in terms of the macro backdrop, even though the company is "positive on the strength of internal drivers." Williams notes that Power Integrations' design win momentum continues to be strong with "several large-volume flagship handsets" anticipated for launch in the second half of the year. The analyst further states that although the appliance market is underperforming amid trade tensions which are also increasing the finished goods price, the company is seeing little direct impact since only about 5% of its total chip sales are from units coming into the U.S.