The Company designs, develops, manufactures and markets proprietary, high-voltage, analog integrated circuits for use primarily in AC-DC and DC-DC power conversion in the consumer, communications, computer and industrial electronics markets.
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POWI is currently being hammered due to being caught up in the broadening "back dating" scandal. They definitely should be taken to the woodshed for engaging in this odious practice. But beneath gunk of the back dating scandal is a solid business with a strong future. POWI is the leading developer and manufacturer of semiconductor based power supplies. For a small incremental cost, POWI's products substantially reduce the power usage of those various "vampire" devices around your house or business.
Looks like POWI.PK will be getting their old financial reports in order pretty soon, and then should get relisted on NASDAQ, which should give a nice bump to the stock price. Their financials look solid - steady profit, no debt, good amount of cash. Their product story is *somewhat* compelling - reduce wasted power from all of our electronic devices in our home. I say somewhat because there's no way currently for consumers to choose electronic devices using their technology - it's up to the manufacturers of the electronic devices. And those manufacturers, by and large, will use the cheapest power conversion technology they can get, not the most efficient. So what is needed here, I think, is a government incentive or mandate to manufacturers to make their devices more efficient. This would play right into the hands of POWI, and if it truly has unique IP in this area, would rapidly increase sales to manufacturers and really goose the stock price. To summarize, I'm somewhat-bullish on this stock, given:
1) They get relisted on NASDAQ.
2) Their technology becomes a requirement, not a choice.