Jane Street Group LLC Sells 89,372 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Jane Street Group LLC cut its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 92.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,000 shares of the semiconductor company's stock after selling 89,372 shares during the period. Jane Street Group LLC's holdings in Power Integrations were worth $432,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of POWI. Norges Bank bought a new stake in shares of Power Integrations during the 4th quarter valued at about $19,663,000. Federated Hermes Inc. grew its position 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 buying an additional 203,309 shares during the period. JPMorgan Chase & Co. increased its holdings 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 buying an additional 178,896 shares during the last quarter. Snyder Capital Management L P raised its position in Power Integrations by 22.3% in the fourth quarter. Snyder Capital Management L P now owns 882,518 shares of the semiconductor company's stock worth $54,451,000 after acquiring an additional 160,784 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Power Integrations in the fourth quarter worth approximately $7,470,000.

Insider Activity at Power Integrations

In other Power Integrations news, CFO Sandeep Nayyar sold 1,929 shares of Power Integrations stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $50.89, for a total value of $98,166.81. Following the sale, the chief financial officer now owns 107,357 shares of the company's stock, valued at $5,463,397.73. The trade was a 1.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Balu Balakrishnan sold 9,544 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $51.19, for a total transaction of $488,557.36. Following the completion of the transaction, the chief executive officer now directly owns 590,580 shares of the company's stock, valued at approximately $30,231,790.20. This trade represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,561 shares of company stock valued at $642,092. Corporate insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

POWI has been the topic of a number of recent research reports. Benchmark reaffirmed a "buy" rating and issued a $78.00 target price on shares of Power Integrations in a report on Friday, February 7th. Stifel Nicolaus raised their price objective 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, Wall Street Zen downgraded Power Integrations from a "buy" rating to a "hold" rating in a research note on Saturday. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $74.67.

Power Integrations Stock Up 7.1%

POWI stock traded up $3.63 during trading on Wednesday, reaching $54.55. The company's stock had a trading volume of 1,023,724 shares, compared to its average volume of 474,717. The company's fifty day moving average is $49.41 and its 200-day moving average is $57.22. The company has a market capitalization of $3.07 billion, a P/E ratio of 95.70, a price-to-earnings-growth ratio of 4.08 and a beta of 1.31. Power Integrations, Inc. has a 1 year low of $40.78 and a 1 year high of $79.13.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The semiconductor company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.03. Power Integrations had a return on equity of 4.48% and a net margin of 7.69%. The firm had revenue of $105.53 million during the quarter, compared to analyst estimates of $105.44 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The business's quarterly revenue was up 15.1% compared to the same quarter last year. Analysts anticipate that Power Integrations, Inc. will post 0.93 earnings per share for the current year.

Power Integrations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Friday, May 30th. Power Integrations's dividend payout ratio (DPR) is presently 129.23%.

Power Integrations 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.