Man Group plc lessened its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 24.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,773 shares of the semiconductor company's stock after selling 6,324 shares during the period. Man Group plc's holdings in Power Integrations were worth $1,220,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of POWI. Norges Bank acquired a new stake in Power Integrations during the fourth quarter valued at approximately $19,663,000. Federated Hermes Inc. lifted its stake in Power Integrations by 40.0% during the fourth quarter. Federated Hermes Inc. now owns 711,017 shares of the semiconductor company's stock valued at $43,870,000 after purchasing an additional 203,309 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Power Integrations by 10.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,920,459 shares of the semiconductor company's stock valued at $118,492,000 after purchasing an additional 178,896 shares during the last quarter. Snyder Capital Management L P lifted its position in shares of Power Integrations by 22.3% in the 4th quarter. Snyder Capital Management L P now owns 882,518 shares of the semiconductor company's stock valued at $54,451,000 after acquiring an additional 160,784 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Power Integrations in the 4th quarter valued at approximately $7,470,000.
Insider Buying and Selling at Power Integrations
In other news, CFO Sandeep Nayyar sold 1,929 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $50.89, for a total transaction of $98,166.81. Following the completion of the sale, the chief financial officer now owns 107,357 shares in the company, valued at approximately $5,463,397.73. This trade represents a 1.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Balu Balakrishnan sold 9,544 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $51.19, for a total transaction of $488,557.36. Following the sale, the chief executive officer now owns 590,580 shares of the company's stock, valued at approximately $30,231,790.20. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,561 shares of company stock worth $642,092 over the last quarter. 1.40% of the stock is currently owned by insiders.
Power Integrations Price Performance
Shares of POWI stock traded up $0.53 during trading hours on Thursday, reaching $50.47. 50,980 shares of the company were exchanged, compared to its average volume of 463,382. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 88.55, a P/E/G ratio of 4.08 and a beta of 1.31. The stock's fifty day moving average is $49.76 and its two-hundred day moving average is $57.63. Power Integrations, Inc. has a fifty-two week low of $40.78 and a fifty-two week high of $79.13.
Power Integrations (NASDAQ:POWI - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. The company had revenue of $105.53 million during the quarter, compared to the consensus estimate of $105.44 million. Power Integrations had a net margin of 7.69% and a return on equity of 4.48%. The firm's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, research analysts anticipate that Power Integrations, Inc. will post 0.93 earnings per share for the current year.
Power Integrations Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Friday, May 30th. Power Integrations's dividend payout ratio is currently 129.23%.
Wall Street Analyst Weigh In
A number of research firms have issued reports on POWI. 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 research report on Tuesday, May 13th. Benchmark restated a "buy" rating and set a $78.00 price target on shares of Power Integrations in a research note on Friday, February 7th. Finally, Wall Street Zen upgraded shares of Power Integrations from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $74.67.
Check Out Our Latest Analysis on POWI
Power Integrations Company Profile
(
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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