Penbrook Management LLC acquired a new position in Power Integrations Inc (NASDAQ:POWI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,400 shares of the semiconductor company’s stock, valued at approximately $691,000.
Other institutional investors have also added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in shares of Power Integrations in the third quarter valued at $205,000. Xact Kapitalforvaltning AB purchased a new position in shares of Power Integrations in the fourth quarter valued at $224,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Power Integrations in the third quarter valued at $288,000. Tiedemann Wealth Management LLC boosted its stake in shares of Power Integrations by 9.2% in the third quarter. Tiedemann Wealth Management LLC now owns 15,980 shares of the semiconductor company’s stock valued at $292,000 after purchasing an additional 1,351 shares during the period. Finally, Stone Ridge Asset Management LLC purchased a new position in shares of Power Integrations in the fourth quarter valued at $307,000. 96.27% of the stock is owned by institutional investors.
In other Power Integrations news, VP Ben Sutherland sold 1,460 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $77.15, for a total transaction of $112,639.00. Following the transaction, the vice president now directly owns 40,156 shares in the company, valued at approximately $3,098,035.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Nayyar sold 2,022 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $77.50, for a total transaction of $156,705.00. Following the transaction, the chief financial officer now owns 58,522 shares in the company, valued at $4,535,455. The disclosure for this sale can be found here. Insiders have sold a total of 62,235 shares of company stock worth $4,234,629 over the last quarter. 4.30% of the stock is currently owned by insiders.
Power Integrations Inc (NASDAQ:POWI) opened at $69.50 on Friday. Power Integrations Inc has a 52 week low of $60.55 and a 52 week high of $86.60. The firm has a market cap of $2,149.58, a price-to-earnings ratio of 77.22 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. Power Integrations had a net margin of 6.39% and a return on equity of 12.70%. The firm had revenue of $108.20 million for the quarter, compared to the consensus estimate of $110.50 million. During the same period in the prior year, the firm posted $0.67 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. analysts forecast that Power Integrations Inc will post 2 EPS for the current fiscal year.
Power Integrations declared that its board has approved a share buyback plan on Thursday, February 1st that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.92%. This is an increase from Power Integrations’s previous quarterly dividend of $0.14. The ex-dividend date is Tuesday, February 27th. Power Integrations’s dividend payout ratio is 71.11%.
POWI has been the subject of several analyst reports. BidaskClub downgraded shares of Power Integrations from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Susquehanna Bancshares initiated coverage on shares of Power Integrations in a research note 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. Zacks Investment Research downgraded shares of Power Integrations from a “buy” rating to a “hold” rating in a research note on Saturday, December 16th. Finally, Sidoti downgraded shares of Power Integrations from a “buy” rating to a “neutral” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $81.40.
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About Power Integrations
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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