Wells Fargo & Company MN raised its holdings in Power Integrations Inc (NASDAQ:POWI) by 30.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,355 shares of the semiconductor company’s stock after buying an additional 25,392 shares during the period. Wells Fargo & Company MN owned about 0.37% of Power Integrations worth $8,688,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Power Integrations by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 344,793 shares of the semiconductor company’s stock valued at $21,025,000 after purchasing an additional 17,356 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Power Integrations by 776.5% in the first quarter. BNP Paribas Arbitrage SA now owns 6,591 shares of the semiconductor company’s stock valued at $461,000 after purchasing an additional 5,839 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Power Integrations by 5.0% in the first quarter. Bank of Montreal Can now owns 3,739 shares of the semiconductor company’s stock valued at $261,000 after purchasing an additional 179 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Power Integrations by 0.7% in the first quarter. Rhumbline Advisers now owns 83,874 shares of the semiconductor company’s stock valued at $5,866,000 after purchasing an additional 586 shares during the last quarter. Finally, Comerica Bank raised its holdings in shares of Power Integrations by 2.5% in the first quarter. Comerica Bank now owns 31,678 shares of the semiconductor company’s stock valued at $2,353,000 after purchasing an additional 760 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Sandeep Nayyar sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $90.50, for a total transaction of $1,810,000.00. Following the completion of the sale, the chief financial officer now owns 57,518 shares in the company, valued at $5,205,379. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Mh Matthews sold 1,141 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $89.21, for a total transaction of $101,788.61. Following the sale, the vice president now owns 58,198 shares of the company’s stock, valued at approximately $5,191,843.58. The disclosure for this sale can be found here. Insiders have sold 44,425 shares of company stock valued at $3,982,569 in the last 90 days. 4.10% of the stock is currently owned by corporate insiders.
NASDAQ POWI traded up $0.69 during trading hours on Friday, reaching $94.03. 767 shares of the company were exchanged, compared to its average volume of 119,270. Power Integrations Inc has a 1 year low of $47.35 and a 1 year high of $102.38. The business’s 50 day simple moving average is $87.96 and its 200-day simple moving average is $77.35. The stock has a market capitalization of $2.68 billion, a P/E ratio of 43.88 and a beta of 1.26.
Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. Power Integrations had a net margin of 14.79% and a return on equity of 9.87%. The business had revenue of $102.87 million during the quarter, compared to the consensus estimate of $100.04 million. During the same quarter last year, the company posted $0.74 earnings per share. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, equities analysts predict that Power Integrations Inc will post 1.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 30th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 0.72%. Power Integrations’s dividend payout ratio (DPR) is presently 31.78%.
Several analysts have recently commented on the stock. Stifel Nicolaus set a $97.00 target price on shares of Power Integrations and gave the company a “buy” rating in a report on Friday, July 26th. Loop Capital reiterated a “hold” rating and issued a $76.00 target price on shares of Power Integrations in a report on Tuesday, June 18th. BidaskClub upgraded shares of Power Integrations from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 27th. Deutsche Bank set a $80.00 target price on shares of Power Integrations and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Northland Securities reiterated an “underperform” rating and issued a $70.00 target price on shares of Power Integrations in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $84.60.
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 worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 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, and other consumer and industrial applications, as well as light-emitting diode lighting.
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