Power Integrations, Inc. $POWI Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. trimmed its stake in Power Integrations by 2.2% in Q3, selling 37,527 shares and now owns about 1.67 million shares (≈3.01%, ~$67.0M); meanwhile several other institutions materially increased positions (Wellington +35.7% to 2.26M shares, Norges Bank opened a new stake).
• Quarterly results beat on EPS ($0.23 vs. $0.19 est.) with revenue roughly in line at $103.2M but down 1.9% year-over-year, and the stock trades at a high P/E (~119.6) with a market cap of ~$2.59B and a 52-week range of $30.86–$60.12.
• Dividend raised to $0.215 quarterly (annualized $0.86, yield 1.8%), yet the payout ratio is an elevated 220.51%; insiders have been net sellers (41,518 shares sold in the last 90 days) and currently own about 1.4% of the stock.

JPMorgan Chase & Co. trimmed its holdings in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,666,492 shares of the semiconductor company's stock after selling 37,527 shares during the period. JPMorgan Chase & Co. owned about 3.01% of Power Integrations worth $67,010,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in POWI. Wellington Management Group LLP grew its position in shares of 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 worth $90,926,000 after buying an additional 595,404 shares in the last quarter. Norges Bank acquired a new stake in Power Integrations in the second quarter valued at $32,897,000. Squarepoint Ops LLC boosted its stake in Power Integrations by 843.8% during the 2nd quarter. Squarepoint Ops LLC now owns 519,952 shares of the semiconductor company's stock valued at $29,065,000 after acquiring an additional 464,858 shares during the last quarter. Bank of America Corp DE boosted its stake in Power Integrations by 66.5% during the 3rd quarter. Bank of America Corp DE now owns 723,281 shares of the semiconductor company's stock valued at $29,083,000 after acquiring an additional 288,771 shares during the last quarter. Finally, Tributary Capital Management LLC grew its holdings in Power Integrations by 91.0% during the 3rd quarter. Tributary Capital Management LLC now owns 605,412 shares of the semiconductor company's stock worth $24,344,000 after acquiring an additional 288,493 shares in the last quarter.

Power Integrations Price Performance

POWI stock opened at $46.63 on Friday. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 119.57, a PEG ratio of 3.50 and a beta of 1.34. Power Integrations, Inc. has a 1-year low of $30.86 and a 1-year high of $60.12. The firm has a fifty day moving average price of $45.97 and a two-hundred day moving average price of $41.54.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. Power Integrations had a net margin of 4.98% and a return on equity of 5.15%. The company had revenue of $103.20 million for the quarter, compared to the consensus estimate of $103.02 million. During the same period last year, the firm posted $0.30 EPS. The company's revenue for the quarter was down 1.9% on a year-over-year basis. As a group, analysts expect that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a $0.215 dividend. This is an increase from Power Integrations's previous quarterly dividend of $0.21. This represents a $0.86 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, February 27th. Power Integrations's dividend payout ratio is 220.51%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Benchmark reissued a "buy" rating and issued a $55.00 target price on shares of Power Integrations in a research report on Friday, February 6th. Weiss Ratings reiterated a "sell (d)" rating on shares of Power Integrations in a research note on Monday, December 29th. Susquehanna boosted their price objective on Power Integrations from $50.00 to $53.00 and gave the company a "positive" rating in a report on Thursday, January 22nd. Finally, Zacks Research upgraded Power Integrations from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 26th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $61.00.

Insider Buying and Selling

In other news, CEO Jennifer A. Lloyd sold 3,322 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $46.57, for a total transaction of $154,705.54. Following the sale, the chief executive officer directly owned 76,307 shares in the company, valued at approximately $3,553,616.99. This represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gagan Jain sold 3,481 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $48.22, for a total value of $167,853.82. Following the completion of the sale, the vice president directly owned 30,769 shares in the company, valued at approximately $1,483,681.18. This trade represents a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 41,518 shares of company stock valued at $1,920,642. 1.40% of the stock is currently owned by insiders.

Power Integrations 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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