M&G PLC Buys New Stake in Power Integrations, Inc. $POWI

M&G PLC purchased a new stake in Power Integrations, Inc. (NASDAQ:POWI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 292,547 shares of the semiconductor company’s stock, valued at approximately $15,212,000. M&G PLC owned 0.52% of Power Integrations at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Heritage Family Offices LLP purchased a new position in shares of Power Integrations during the third quarter worth about $32,000. Harbor Investment Advisory LLC bought a new stake in Power Integrations in the 2nd quarter worth approximately $33,000. EverSource Wealth Advisors LLC boosted its stake in Power Integrations by 125.5% in the first quarter. EverSource Wealth Advisors LLC now owns 814 shares of the semiconductor company’s stock worth $42,000 after buying an additional 453 shares in the last quarter. Allworth Financial LP purchased a new stake in Power Integrations in the second quarter worth approximately $42,000. Finally, Global Retirement Partners LLC purchased a new stake in Power Integrations in the second quarter worth approximately $44,000.

Power Integrations Price Performance

POWI stock opened at $43.94 on Wednesday. Power Integrations, Inc. has a 1 year low of $30.86 and a 1 year high of $91.18. The company has a market cap of $2.46 billion, a P/E ratio of 49.76 and a beta of 1.58. The firm has a 50-day moving average of $48.58 and a 200 day moving average of $58.56.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Wednesday, November 4th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $125.48 million for the quarter, compared to analysts’ expectations of $126.03 million. Power Integrations had a return on equity of 7.36% and a net margin of 9.81%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, equities research analysts expect that Power Integrations, Inc. will post 0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on POWI shares. Williams Trading set a $65.00 price objective on Power Integrations in a research note on Thursday, November 5th. Stifel Nicolaus set a $62.00 target price on shares of Power Integrations in a report on Thursday, November 5th. Zacks Research downgraded shares of Power Integrations from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Needham & Company LLC decreased their target price on shares of Power Integrations from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, November 5th. Finally, Susquehanna lowered their price target on shares of Power Integrations from $70.00 to $55.00 and set a “positive” rating for the company in a report on Thursday, November 5th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.67.

Power Integrations Company Profile

Power Integrations, Inc. designs and markets semiconductor technologies used in high-voltage power conversion. Its products include integrated circuits, power switches, diodes and gate drivers that help convert and control electricity in electronic systems. The company’s products are used in applications such as consumer electronics, appliances, industrial equipment, communications systems, electric vehicles and renewable-energy installations. Its EcoSmart technology is designed to improve energy efficiency in power supplies and other power-conversion applications.