Man Group plc Takes $3.43 Million Position in Power Integrations, Inc. $POWI

Key Points

• Man Group plc acquired 40,902 shares of Power Integrations worth approximately $3.43 million, representing a 0.07% stake. Other institutions, including BlackRock and William Blair, also established or increased positions.
• Power Integrations reported quarterly EPS of $0.37, beating estimates of $0.32, while revenue rose 2.6% year over year to $118.94 million.
• Shares opened at $51.38, well below their 50-day and 200-day moving averages. Analysts maintain a “Moderate Buy” consensus, with an average price target of $72.67, despite some recent rating downgrades and target cuts.

Man Group plc acquired a new position in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 40,902 shares of the semiconductor company's stock, valued at approximately $3,426,000. Man Group plc owned 0.07% of Power Integrations at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Power Integrations in the 2nd quarter valued at $730,559,000. William Blair Investment Management LLC purchased a new position in shares of Power Integrations in the 2nd quarter worth $199,517,000. Snyder Capital Management L P raised its position in shares of Power Integrations by 148.8% in the 4th quarter. Snyder Capital Management L P now owns 2,064,707 shares of the semiconductor company's stock worth $73,380,000 after buying an additional 1,234,981 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Power Integrations by 1,885.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 943,365 shares of the semiconductor company's stock valued at $33,528,000 after acquiring an additional 895,857 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Power Integrations by 35.7% during the third quarter. Wellington Management Group LLP now owns 2,261,281 shares of the semiconductor company's stock valued at $90,926,000 after acquiring an additional 595,404 shares during the period.

Power Integrations Trading Down 0.3%

NASDAQ POWI opened at $51.38 on Tuesday. The company's fifty day simple moving average is $66.03 and its 200-day simple moving average is $63.48. Power Integrations, Inc. has a 52 week low of $30.86 and a 52 week high of $91.18. The stock has a market cap of $2.87 billion, a P/E ratio of 114.18 and a beta of 1.58.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. Power Integrations had a net margin of 5.58% and a return on equity of 5.50%. The business had revenue of $118.94 million during the quarter, compared to analyst estimates of $117.44 million. During the same period last year, the business earned $0.35 EPS. The business's revenue was up 2.6% on a year-over-year basis. On average, research analysts expect that Power Integrations, Inc. will post 0.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Needham & Company LLC cut their price objective on Power Integrations from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Weiss Ratings raised shares of Power Integrations from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 19th. Williams Trading set a $80.00 price target on shares of Power Integrations in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Power Integrations in a research report on Friday, May 8th. Finally, Zacks Research downgraded shares of Power Integrations from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Power Integrations presently has an average rating of "Moderate Buy" and a consensus price target of $72.67.

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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