Power Integrations Inc (POWI) Stake Reduced by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP lowered its stake in Power Integrations Inc (NASDAQ:POWI) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678,998 shares of the company’s stock after selling 59,374 shares during the period. Dimensional Fund Advisors LP owned approximately 2.33% of Power Integrations worth $46,071,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Kessler Investment Group LLC bought a new position in shares of Power Integrations during the third quarter valued at $101,000. Victory Capital Management Inc. raised its position in shares of Power Integrations by 4.2% in the third quarter. Victory Capital Management Inc. now owns 1,845 shares of the company’s stock valued at $116,000 after buying an additional 74 shares during the last quarter. Princeton Alpha Management LP bought a new position in shares of Power Integrations during the third quarter valued at $212,000. Turner Investments LLC bought a new position in shares of Power Integrations during the fourth quarter valued at $271,000. Finally, BlackRock Inc. raised its position in shares of Power Integrations by 27.1% in the third quarter. BlackRock Inc. now owns 5,441 shares of the company’s stock valued at $343,000 after buying an additional 1,161 shares during the last quarter. Institutional investors own 96.85% of the company’s stock.
Shares of Power Integrations Inc (NASDAQ:POWI) opened at 66.60 on Tuesday. The stock has a 50 day moving average of $65.92 and a 200 day moving average of $65.04. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 41.11 and a beta of 1.01. Power Integrations Inc has a 52-week low of $44.81 and a 52-week high of $72.65.
Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Wednesday, February 1st. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.05. Power Integrations had a return on equity of 11.71% and a net margin of 12.36%. The business had revenue of $101.10 million for the quarter, compared to analyst estimates of $101.07 million. During the same period last year, the company earned $0.58 EPS. Power Integrations’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts predict that Power Integrations Inc will post $2.80 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Tuesday, February 28th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.84%. This is a positive change from Power Integrations’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, February 24th. Power Integrations’s dividend payout ratio (DPR) is presently 32.10%.
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Several brokerages have weighed in on POWI. Zacks Investment Research lowered shares of Power Integrations from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 9th. Drexel Hamilton began coverage on shares of Power Integrations in a research report on Wednesday, December 21st. They set a “buy” rating and a $79.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $71.00.
In related news, insider Balu Balakrishnan sold 1,639 shares of the firm’s stock in a transaction that occurred on Thursday, December 22nd. The stock was sold at an average price of $68.95, for a total transaction of $113,009.05. Following the transaction, the insider now directly owns 205,730 shares in the company, valued at approximately $14,185,083.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Clifford Walker sold 17,714 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $66.00, for a total value of $1,169,124.00. Following the transaction, the vice president now owns 73,736 shares in the company, valued at $4,866,576. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,962 shares of company stock worth $10,077,119. 5.70% of the stock is owned by corporate insiders.
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. 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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