Power Integrations (NASDAQ:POWI) Stock Price Up 6.7% - Time to Buy?

Power Integrations, Inc. (NASDAQ:POWI - Get Free Report) shot up 6.7% during trading on Wednesday . The stock traded as high as $53.69 and last traded at $54.34. 218,499 shares were traded during mid-day trading, a decline of 54% from the average session volume of 470,834 shares. The stock had previously closed at $50.92.

Analysts Set New Price Targets

Several brokerages have commented on POWI. Stifel Nicolaus lifted their price target on Power Integrations from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Benchmark reaffirmed a "buy" rating and issued a $78.00 price target on shares of Power Integrations in a research report on Friday, February 7th. Finally, Wall Street Zen downgraded Power Integrations from a "buy" rating to a "hold" rating in a research report on Saturday, May 31st. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.67.

Power Integrations Stock Down 1.4%

The business has a 50-day simple moving average of $49.41 and a two-hundred day simple moving average of $57.22. The stock has a market capitalization of $3.03 billion, a P/E ratio of 94.32, a PEG ratio of 4.08 and a beta of 1.31.

Power Integrations (NASDAQ:POWI - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The semiconductor company reported $0.31 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $105.44 million. During the same period in the prior year, the business posted $0.18 earnings per share. The business's revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts forecast that Power Integrations, Inc. will post 0.93 earnings per share for the current year.

Power Integrations Announces Dividend

The firm 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 $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, May 30th. Power Integrations's dividend payout ratio is currently 129.23%.

Insiders Place Their Bets

In other Power Integrations news, CEO Balu Balakrishnan sold 9,544 shares of the business's stock in a transaction 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 transaction, the chief executive officer now owns 590,580 shares of the company's stock, valued at approximately $30,231,790.20. The trade was a 1.59% 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 hyperlink. Also, VP Clifford Walker sold 1,088 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $50.89, for a total value of $55,368.32. Following the transaction, the vice president now directly owns 141,765 shares in the company, valued at $7,214,420.85. This trade represents a 0.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,561 shares of company stock valued at $642,092. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Power Integrations

Large investors have recently made changes to their positions in the company. Allworth Financial LP increased its holdings in Power Integrations by 257.8% in the first quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 428 shares during the last quarter. Bayforest Capital Ltd increased its holdings in shares of Power Integrations by 54.3% in the first quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 222 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Power Integrations by 576.3% in the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 536 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Power Integrations by 110.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 537 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 282 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Power Integrations by 841.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 781 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 698 shares in the last quarter.

Power Integrations Company 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.