Dimensional Fund Advisors LP grew its position in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 7.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,057,155 shares of the semiconductor company's stock after purchasing an additional 71,928 shares during the period. Dimensional Fund Advisors LP owned 1.90% of Power Integrations worth $54,114,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of POWI. Baird Financial Group Inc. lifted its stake in shares of Power Integrations by 5.4% during the first quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company's stock valued at $255,000 after buying an additional 261 shares during the period. Royal Bank of Canada grew its stake in Power Integrations by 5.0% in the 1st quarter. Royal Bank of Canada now owns 75,792 shares of the semiconductor company's stock worth $3,827,000 after acquiring an additional 3,622 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Power Integrations by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,680 shares of the semiconductor company's stock worth $1,701,000 after acquiring an additional 1,461 shares during the period. Goldman Sachs Group Inc. raised its holdings in Power Integrations by 14.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 572,360 shares of the semiconductor company's stock valued at $28,904,000 after acquiring an additional 74,107 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Power Integrations by 15.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,754 shares of the semiconductor company's stock worth $8,825,000 after purchasing an additional 23,389 shares during the period.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on POWI shares. Stifel Nicolaus increased their target price on Power Integrations from $82.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Power Integrations in a report on Friday, May 8th. Northland Securities cut shares of Power Integrations from an "outperform" rating to a "market perform" rating and set a $46.00 target price on the stock. in a research report on Monday, April 6th. Needham & Company LLC initiated coverage on shares of Power Integrations in a research report on Wednesday, June 10th. They set a "buy" rating and a $90.00 price target for the company. Finally, Susquehanna lifted their price target on shares of Power Integrations from $70.00 to $85.00 and gave the company a "positive" rating in a report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Power Integrations has a consensus rating of "Hold" and an average price target of $76.20.
Read Our Latest Report on Power Integrations
Insider Activity at Power Integrations
In related news, VP Sunil Gupta sold 6,860 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $83.67, for a total value of $573,976.20. Following the completion of the sale, the vice president directly owned 64,379 shares in the company, valued at approximately $5,386,590.93. This represents a 9.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Balu Balakrishnan sold 124,287 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $86.44, for a total value of $10,743,368.28. Following the completion of the transaction, the director directly owned 279,516 shares in the company, valued at $24,161,363.04. This trade represents a 30.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 334,772 shares of company stock worth $27,322,535. Corporate insiders own 1.20% of the company's stock.
Power Integrations Stock Performance
POWI opened at $60.71 on Friday. Power Integrations, Inc. has a 1 year low of $30.86 and a 1 year high of $91.18. The firm has a 50 day moving average price of $75.66 and a 200 day moving average price of $61.33. The company has a market cap of $3.38 billion, a PE ratio of 202.37 and a beta of 1.57.
Power Integrations (NASDAQ:POWI - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. Power Integrations had a net margin of 3.72% and a return on equity of 5.34%. The firm had revenue of $108.31 million for the quarter, compared to analysts' expectations of $106.75 million. During the same period in the previous year, the company posted $0.31 earnings per share. Power Integrations's revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts predict that Power Integrations, Inc. will post 0.76 earnings per share for the current year.
Power Integrations Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, May 29th. Power Integrations's dividend payout ratio is 286.67%.
About Power Integrations
(
Free Report)
Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company's products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.
The firm's product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.
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