Bank of America Corp DE raised its position in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 18.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401,125 shares of the semiconductor company's stock after buying an additional 62,750 shares during the quarter. Bank of America Corp DE owned about 0.71% of Power Integrations worth $24,749,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV purchased a new position in Power Integrations during the 4th quarter valued at approximately $368,000. AQR Capital Management LLC grew its holdings in Power Integrations by 138.0% during the 4th quarter. AQR Capital Management LLC now owns 89,814 shares of the semiconductor company's stock valued at $5,542,000 after buying an additional 52,079 shares in the last quarter. Northern Trust Corp grew its holdings in Power Integrations by 9.1% during the 4th quarter. Northern Trust Corp now owns 996,040 shares of the semiconductor company's stock valued at $61,456,000 after buying an additional 83,186 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Power Integrations during the 4th quarter valued at approximately $51,000. Finally, Snyder Capital Management L P grew its holdings in Power Integrations by 22.3% during 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 buying an additional 160,784 shares in the last quarter.
Power Integrations Price Performance
NASDAQ POWI traded down $0.65 during trading hours on Friday, reaching $49.86. The company's stock had a trading volume of 479,531 shares, compared to its average volume of 464,881. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 87.48, a P/E/G 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. The company's 50-day moving average is $50.09 and its two-hundred day moving average is $57.89.
Power Integrations (NASDAQ:POWI - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $105.53 million during the quarter, compared to analysts' expectations of $105.44 million. Power Integrations had a return on equity of 4.48% and a net margin of 7.69%. Power Integrations's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. Equities analysts forecast that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.
Power Integrations Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 1.68%. Power Integrations's dividend payout ratio (DPR) is currently 129.23%.
Insiders Place Their Bets
In other news, CEO Balu Balakrishnan sold 9,544 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $51.19, for a total value of $488,557.36. Following the completion of the sale, the chief executive officer now directly owns 590,580 shares in the company, valued at $30,231,790.20. This represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Nayyar sold 1,929 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $50.89, for a total value of $98,166.81. Following the completion of the sale, the chief financial officer now owns 107,357 shares of the company's stock, valued at $5,463,397.73. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,561 shares of company stock worth $642,092. Corporate insiders own 1.40% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the company. Stifel Nicolaus raised their price objective on Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Benchmark reissued 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 raised Power Integrations from a "hold" rating to a "buy" rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.67.
Check Out Our Latest Analysis on Power Integrations
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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