Dark Forest Capital Management LP Acquires New Shares in Power Integrations, Inc. $POWI

Key Points

• Dark Forest Capital Management has acquired a new stake in Power Integrations, purchasing 67,419 shares valued at approximately $3.4 million, representing about 0.12% of the company.
• Power Integrations recently reported a quarterly earnings of $0.35 per share, exceeding analysts' estimates, while also announcing a quarterly dividend of $0.21, reflecting a yield of 1.9%.
• Analysts have set new price targets for Power Integrations, with Benchmark lowering its target from $70.00 to $55.00, while Stifel Nicolaus raised their target from $70.00 to $75.00, maintaining a "buy" rating.

Dark Forest Capital Management LP acquired a new stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 67,419 shares of the semiconductor company's stock, valued at approximately $3,405,000. Dark Forest Capital Management LP owned about 0.12% of Power Integrations as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas purchased a new position in shares of Power Integrations in the 1st quarter valued at about $1,452,000. SG Americas Securities LLC purchased a new position in shares of Power Integrations in the 1st quarter valued at about $344,000. GAMMA Investing LLC increased its holdings in shares of Power Integrations by 243.2% in the 1st quarter. GAMMA Investing LLC now owns 2,011 shares of the semiconductor company's stock valued at $102,000 after acquiring an additional 1,425 shares during the last quarter. Savvy Advisors Inc. purchased a new position in shares of Power Integrations in the 1st quarter valued at about $630,000. Finally, Sei Investments Co. increased its holdings in shares of Power Integrations by 7.1% in the 1st quarter. Sei Investments Co. now owns 103,425 shares of the semiconductor company's stock valued at $5,223,000 after acquiring an additional 6,827 shares during the last quarter.

Insider Activity at Power Integrations

In other news, VP Doug Bailey sold 16,989 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $46.41, for a total value of $788,459.49. Following the completion of the sale, the vice president directly owned 50,798 shares of the company's stock, valued at $2,357,535.18. This trade represents a 25.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gagan Jain sold 2,036 shares of the firm's stock in a transaction that occurred 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,014 shares of company stock valued at $1,678,322 over the last three months. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on POWI. Wall Street Zen downgraded Power Integrations from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Susquehanna dropped their price target on Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a research note on Thursday, August 7th. Stifel Nicolaus raised their price target on Power Integrations from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, Benchmark dropped their price target on Power Integrations from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $61.67.

Power Integrations Stock Performance

Power Integrations stock traded up $0.01 during mid-day trading on Monday, reaching $44.92. 81,791 shares of the company were exchanged, compared to its average volume of 549,200. Power Integrations, Inc. has a twelve month low of $39.53 and a twelve month high of $69.53. The firm's 50-day simple moving average is $50.36 and its two-hundred day simple moving average is $52.12. The firm has a market cap of $2.52 billion, a PE ratio of 77.71, a price-to-earnings-growth ratio of 2.94 and a beta of 1.38.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $115.85 million during the quarter, compared to analysts' expectations of $115.02 million. Power Integrations had a return on equity of 5.86% and a net margin of 7.59%.The firm's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS. As a group, equities research analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

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

Power Integrations Company 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.