WINTON GROUP Ltd bought a new position in shares of Power Integrations Inc (NASDAQ:POWI) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 71,830 shares of the semiconductor company’s stock, valued at approximately $5,283,000. WINTON GROUP Ltd owned approximately 0.24% of Power Integrations as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in Power Integrations during the third quarter worth $205,000. Dynamic Technology Lab Private Ltd acquired a new position in Power Integrations during the third quarter worth $288,000. Tiedemann Wealth Management LLC raised its holdings in Power Integrations by 9.2% during the third quarter. Tiedemann Wealth Management LLC now owns 15,980 shares of the semiconductor company’s stock worth $292,000 after buying an additional 1,351 shares during the last quarter. Stephens Inc. AR raised its holdings in Power Integrations by 23.7% during the third quarter. Stephens Inc. AR now owns 5,346 shares of the semiconductor company’s stock worth $391,000 after buying an additional 1,023 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Power Integrations during the third quarter worth $397,000. 96.28% of the stock is currently owned by institutional investors and hedge funds.
Power Integrations Inc (POWI) remained flat at $$71.95 during midday trading on Wednesday. The stock had a trading volume of 152,441 shares, compared to its average volume of 209,926. Power Integrations Inc has a 12 month low of $60.55 and a 12 month high of $86.60. The firm has a market cap of $2,150.00, a PE ratio of 33.47 and a beta of 1.23.
Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. Power Integrations had a net margin of 6.39% and a return on equity of 12.70%. The business had revenue of $108.20 million during the quarter, compared to the consensus estimate of $110.50 million. During the same quarter last year, the company posted $0.67 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. analysts forecast that Power Integrations Inc will post 2 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Tuesday, February 27th. This is an increase from Power Integrations’s previous quarterly dividend of $0.14. Power Integrations’s dividend payout ratio (DPR) is 29.77%.
Power Integrations declared that its Board of Directors has authorized a share repurchase program on Thursday, February 1st that allows the company to buyback $30.00 million in shares. This buyback authorization allows the semiconductor company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Several analysts have recently commented on POWI shares. Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a report on Tuesday, December 19th. BidaskClub upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a report on Thursday, March 8th. Sidoti downgraded shares of Power Integrations from a “buy” rating to a “neutral” rating in a report on Friday, February 2nd. Finally, Susquehanna Bancshares started coverage on shares of Power Integrations in a report on Wednesday, December 13th. They issued a “neutral” rating and a $80.00 target price for the company. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $81.40.
In related news, insider Balu Balakrishnan sold 17,186 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $63.02, for a total transaction of $1,083,061.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Radu Barsan sold 4,144 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $69.00, for a total transaction of $285,936.00. Following the transaction, the vice president now owns 38,067 shares of the company’s stock, valued at approximately $2,626,623. The disclosure for this sale can be found here. Insiders have sold 62,235 shares of company stock valued at $4,234,629 in the last 90 days. 4.30% of the stock is currently owned by corporate insiders.
Power Integrations Profile
Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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