D. E. Shaw & Co. Inc. lessened its holdings in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 18.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 518,761 shares of the semiconductor company's stock after selling 119,006 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.91% of Power Integrations worth $32,008,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in Power Integrations during the fourth quarter worth about $288,000. UMB Bank n.a. increased its position in Power Integrations by 43.9% during the fourth quarter. UMB Bank n.a. now owns 629 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 192 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Power Integrations by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 654,973 shares of the semiconductor company's stock worth $40,412,000 after buying an additional 33,741 shares during the period. Park Avenue Securities LLC purchased a new stake in Power Integrations during the fourth quarter worth approximately $227,000. Finally, Barclays PLC boosted its stake in shares of Power Integrations by 173.4% in the third quarter. Barclays PLC now owns 180,754 shares of the semiconductor company's stock valued at $11,591,000 after purchasing an additional 114,644 shares during the period.
Power Integrations Stock Down 1.0%
Shares of POWI stock traded down $0.53 during trading on Wednesday, reaching $54.82. The company's stock had a trading volume of 795,267 shares, compared to its average volume of 460,022. Power Integrations, Inc. has a one year low of $40.78 and a one year high of $79.13. The business has a fifty day moving average price of $50.78 and a 200-day moving average price of $58.50. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 96.18, a price-to-earnings-growth ratio of 4.08 and a beta of 1.31.
Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The semiconductor company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. The business had revenue of $105.53 million during the quarter, compared to analysts' expectations of $105.44 million. Power Integrations had a net margin of 7.69% and a return on equity of 4.48%. Power Integrations's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 earnings per share. Research analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current year.
Power Integrations Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Friday, May 30th. Power Integrations's dividend payout ratio is 129.23%.
Analyst Ratings Changes
A number of analysts have weighed in on POWI shares. Stifel Nicolaus increased their target price on shares of Power Integrations from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday. Benchmark reaffirmed a "buy" rating and issued a $78.00 price objective on shares of Power Integrations in a research note on Friday, February 7th. Finally, StockNews.com cut shares of Power Integrations from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Power Integrations currently has an average rating of "Moderate Buy" and a consensus price target of $74.67.
Read Our Latest Stock Report on POWI
Insiders Place Their Bets
In related news, CFO Sandeep Nayyar sold 1,929 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $50.89, for a total value of $98,166.81. Following the transaction, the chief financial officer now directly owns 107,357 shares in the company, valued at approximately $5,463,397.73. This represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Clifford Walker sold 1,088 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $50.89, for a total value of $55,368.32. Following the completion of the transaction, the vice president now directly owns 141,765 shares in the company, valued at approximately $7,214,420.85. This represents a 0.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,954 shares of company stock valued at $1,328,862 in the last three months. 1.40% of the stock is currently owned by insiders.
About Power Integrations
(
Free Report)
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. The company provides a range of alternating current to direct current power conversion products that address power supply ranging from less than one watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, LED lighting, and various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.
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