Legal & General Group Plc Buys 36,077 Shares of Power Integrations, Inc. $POWI

Key Points

• Legal & General Group Plc increased its stake in Power Integrations by 32.9% in the fourth quarter, buying 36,077 additional shares and bringing its total holding to 145,895 shares valued at about $5.2 million.
• Power Integrations reported better-than-expected quarterly results, posting EPS of $0.25 versus the $0.23 estimate and revenue of $108.31 million, while revenue rose 2.6% year over year.
• Despite the earnings beat, the stock has drawn mixed views: analysts currently rate it Hold on average, while insiders have recently sold shares, including a large sale by Director Balu Balakrishnan.

Legal & General Group Plc raised its position in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 32.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 145,895 shares of the semiconductor company's stock after purchasing an additional 36,077 shares during the quarter. Legal & General Group Plc owned approximately 0.26% of Power Integrations worth $5,185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its position in Power Integrations by 420.0% during the 4th quarter. Hantz Financial Services Inc. now owns 4,415 shares of the semiconductor company's stock valued at $157,000 after purchasing an additional 3,566 shares during the period. Legato Capital Management LLC acquired a new stake in Power Integrations during the 4th quarter valued at approximately $711,000. Leonteq Securities AG acquired a new stake in shares of Power Integrations during the 4th quarter worth approximately $119,000. Covestor Ltd grew its position in shares of Power Integrations by 13.8% during the 4th quarter. Covestor Ltd now owns 2,064 shares of the semiconductor company's stock worth $73,000 after buying an additional 251 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Power Integrations during the 4th quarter worth approximately $1,072,000.

Power Integrations Price Performance

NASDAQ:POWI opened at $77.02 on Monday. The business has a 50 day moving average of $67.19 and a 200 day moving average of $50.84. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 256.74, a PEG ratio of 3.35 and a beta of 1.57. Power Integrations, Inc. has a 1-year low of $30.86 and a 1-year high of $89.00.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its earnings results on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. Power Integrations had a return on equity of 5.34% and a net margin of 3.72%.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 firm earned $0.31 earnings per share. The business's revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Power Integrations, Inc. will post 0.89 EPS for the current year.

Power Integrations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be paid a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.86 dividend on an annualized basis and a yield of 1.1%. Power Integrations's dividend payout ratio is presently 286.67%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Stifel Nicolaus raised their price objective on Power Integrations from $56.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Power Integrations in a research note on Friday, May 8th. Zacks Research upgraded Power Integrations from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 26th. Benchmark raised their price objective on Power Integrations from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, April 6th. Finally, Susquehanna raised their price objective on Power Integrations from $70.00 to $85.00 and gave the company a "positive" rating in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $64.50.

Insider Activity at Power Integrations

In related news, Director Nicholas Brathwaite sold 6,895 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $72.41, for a total transaction of $499,266.95. Following the completion of the transaction, the director directly owned 30,609 shares of the company's stock, valued at approximately $2,216,397.69. This represents a 18.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Balu Balakrishnan sold 124,287 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 279,516 shares of the company's stock, valued at approximately $24,161,363.04. The trade was a 30.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 335,085 shares of company stock valued at $27,338,789. Insiders own 1.40% of the company's stock.

Power Integrations Company Profile

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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