Walleye Capital LLC Invests $960,000 in Power Integrations, Inc. $POWI

Key Points

• Walleye Capital LLC acquired 19,004 shares of Power Integrations, valued at approximately $960,000, during the first quarter, highlighting increased interest from institutional investors in the semiconductor company.
• Insiders have sold a total of 36,014 shares worth $1,678,322 in the last three months, indicating a potential decrease in insider confidence, as they now own only 1.40% of the company's stock.
• Power Integrations recently announced a quarterly dividend of $0.21 per share, representing an annualized yield of 1.9%, despite having a high payout ratio of 144.83%.

Walleye Capital LLC bought a new stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,004 shares of the semiconductor company's stock, valued at approximately $960,000.

Other large investors also recently modified their holdings of the company. Allworth Financial LP lifted its holdings in shares of Power Integrations by 257.8% in the first quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 428 shares in the last quarter. Bayforest Capital Ltd lifted its holdings in shares of Power Integrations by 54.3% in the first quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 222 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Power Integrations by 841.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 781 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 698 shares in the last quarter. Global X Japan Co. Ltd. purchased a new position in Power Integrations during the first quarter worth about $42,000. Finally, Larson Financial Group LLC purchased a new position in Power Integrations during the first quarter worth about $45,000.

Analysts Set New Price Targets

Several research firms recently weighed in on POWI. Wall Street Zen cut shares of Power Integrations from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Benchmark lowered their price objective on shares of Power Integrations from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Susquehanna lowered their price objective on shares of Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a research report on Thursday, August 7th. Finally, Stifel Nicolaus lifted their price objective on shares of Power Integrations from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $61.67.

Insider Buying and Selling at Power Integrations

In related news, VP Doug Bailey sold 16,989 shares of Power Integrations stock in a transaction on Monday, August 18th. The stock was sold at an average price of $46.41, for a total transaction of $788,459.49. Following the completion of the sale, the vice president owned 50,798 shares of the company's stock, valued at approximately $2,357,535.18. This trade represents a 25.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gagan Jain sold 2,036 shares of Power Integrations stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $46.05, for a total value of $93,757.80. Following the sale, the vice president directly owned 18,812 shares of the company's stock, valued at $866,292.60. This represents a 9.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,014 shares of company stock valued at $1,678,322 in the last three months. 1.40% of the stock is owned by corporate insiders.

Power Integrations Stock Performance

Power Integrations stock traded up $0.67 during midday trading on Friday, reaching $45.40. 78,790 shares of the stock were exchanged, compared to its average volume of 549,972. The company's fifty day moving average is $50.58 and its 200-day moving average is $52.42. The firm has a market cap of $2.55 billion, a PE ratio of 78.27, a PEG ratio of 2.87 and a beta of 1.38. Power Integrations, Inc. has a 52 week low of $39.53 and a 52 week high of $69.53.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $115.85 million for the quarter, compared to analyst estimates of $115.02 million. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. Power Integrations's revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 EPS. On average, sell-side analysts anticipate that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 1.9%. Power Integrations's dividend payout ratio (DPR) is currently 144.83%.

Power Integrations Profile

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.