Man Group plc grew its stake in shares of Power Integrations Inc (NASDAQ:POWI) by 146.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,140 shares of the semiconductor company’s stock after buying an additional 33,388 shares during the period. Man Group plc’s holdings in Power Integrations were worth $5,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in POWI. Point72 Asset Management L.P. bought a new position in shares of Power Integrations during the third quarter worth $27,000. FNY Investment Advisers LLC purchased a new position in Power Integrations during the third quarter valued at $45,000. Tower Research Capital LLC TRC increased its holdings in Power Integrations by 482.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 874 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 724 shares during the last quarter. We Are One Seven LLC bought a new stake in Power Integrations in the 3rd quarter valued at $206,000. Finally, ETF Managers Group LLC lifted its stake in Power Integrations by 23.8% in the 2nd quarter. ETF Managers Group LLC now owns 2,604 shares of the semiconductor company’s stock worth $201,000 after purchasing an additional 501 shares in the last quarter. 96.95% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Balu Balakrishnan sold 27,510 shares of Power Integrations stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $91.82, for a total value of $2,525,968.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Doug Bailey sold 2,000 shares of Power Integrations stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $91.19, for a total value of $182,380.00. Following the completion of the transaction, the vice president now owns 59,298 shares of the company’s stock, valued at approximately $5,407,384.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,558 shares of company stock worth $8,961,747. Insiders own 4.10% of the company’s stock.
POWI stock opened at $91.85 on Monday. The firm has a fifty day moving average price of $91.99 and a 200 day moving average price of $84.82. Power Integrations Inc has a fifty-two week low of $55.80 and a fifty-two week high of $102.38. The firm has a market cap of $2.63 billion, a PE ratio of 42.92 and a beta of 1.25.
Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, October 24th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. Power Integrations had a net margin of 14.50% and a return on equity of 9.64%. The company had revenue of $114.16 million for the quarter, compared to the consensus estimate of $114.20 million. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Power Integrations’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts anticipate that Power Integrations Inc will post 1.86 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.19 dividend. This is a boost from Power Integrations’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Wednesday, November 27th. Power Integrations’s dividend payout ratio (DPR) is presently 35.51%.
Several research analysts have commented on POWI shares. ValuEngine downgraded shares of Power Integrations from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Stifel Nicolaus set a $104.00 target price on Power Integrations and gave the stock a “buy” rating in a report on Friday, October 25th. BidaskClub cut Power Integrations from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Zacks Investment Research upgraded Power Integrations from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Saturday, October 12th. Finally, Loop Capital raised Power Integrations from a “hold” rating to a “buy” rating and increased their price target for the company from $83.00 to $102.00 in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $91.20.
Power Integrations Company 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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