Norges Bank Purchases New Stake in Power Integrations, Inc. (NASDAQ:POWI)

Norges Bank bought a new stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 318,689 shares of the semiconductor company's stock, valued at approximately $19,663,000. Norges Bank owned 0.56% of Power Integrations as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of POWI. UMB Bank n.a. lifted its stake in shares of Power Integrations by 43.9% in the 4th quarter. UMB Bank n.a. now owns 629 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 192 shares during the period. MML Investors Services LLC lifted its stake in Power Integrations by 3.4% in the third quarter. MML Investors Services LLC now owns 6,231 shares of the semiconductor company's stock valued at $400,000 after buying an additional 207 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Power Integrations by 2.8% during the 4th quarter. Pacer Advisors Inc. now owns 8,480 shares of the semiconductor company's stock worth $523,000 after buying an additional 230 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Power Integrations by 110.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 537 shares of the semiconductor company's stock worth $33,000 after buying an additional 282 shares during the period. Finally, US Bancorp DE increased its stake in shares of Power Integrations by 3.3% in the 4th quarter. US Bancorp DE now owns 10,997 shares of the semiconductor company's stock valued at $679,000 after acquiring an additional 353 shares in the last quarter.

Wall Street Analysts Forecast Growth

POWI has been the topic of several research analyst reports. Benchmark reissued a "buy" rating and set a $78.00 target price on shares of Power Integrations in a research note on Friday, February 7th. StockNews.com downgraded Power Integrations from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $78.00.

Power Integrations Price Performance

Shares of NASDAQ POWI traded up $0.48 during mid-day trading on Friday, reaching $45.09. 627,222 shares of the company's stock traded hands, compared to its average volume of 452,744. The business has a 50-day simple moving average of $56.09 and a 200 day simple moving average of $60.62. The stock has a market cap of $2.56 billion, a P/E ratio of 79.11, a PEG ratio of 4.08 and a beta of 1.32. 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 issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.12). Power Integrations had a return on equity of 4.48% and a net margin of 7.69%. Equities research analysts anticipate that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.86%. The ex-dividend date was Friday, February 28th. Power Integrations's dividend payout ratio (DPR) is presently 147.37%.

Insiders Place Their Bets

In related news, VP Clifford Walker sold 2,472 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $60.75, for a total transaction of $150,174.00. Following the transaction, the vice president now directly owns 142,145 shares in the company, valued at approximately $8,635,308.75. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Nayyar sold 1,929 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was 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 directly owns 107,357 shares of the company's stock, valued at $5,463,397.73. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,105 shares of company stock valued at $3,075,198 in the last three months. 1.50% of the stock is currently owned by insiders.

About Power Integrations

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.