UBS Asset Management Americas Inc. Lowers Position in Power Integrations, Inc. (POWI)
UBS Asset Management Americas Inc. cut its position in Power Integrations, Inc. (NASDAQ:POWI) by 38.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,293 shares of the semiconductor company’s stock after selling 6,410 shares during the period. UBS Asset Management Americas Inc.’s holdings in Power Integrations were worth $699,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Polar Capital LLP raised its stake in shares of Power Integrations by 53.0% in the third quarter. Polar Capital LLP now owns 450,157 shares of the semiconductor company’s stock worth $28,367,000 after buying an additional 155,915 shares during the period. Principal Financial Group Inc. increased its stake in shares of Power Integrations by 5.7% in the third quarter. Principal Financial Group Inc. now owns 214,298 shares of the semiconductor company’s stock valued at $13,507,000 after buying an additional 11,623 shares during the period. Princeton Alpha Management LP bought a new stake in shares of Power Integrations during the third quarter valued at about $212,000. Emerald Acquisition Ltd. increased its stake in shares of Power Integrations by 8.6% in the third quarter. Emerald Acquisition Ltd. now owns 74,550 shares of the semiconductor company’s stock valued at $4,700,000 after buying an additional 5,916 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Power Integrations by 1.0% in the third quarter. California State Teachers Retirement System now owns 58,115 shares of the semiconductor company’s stock valued at $3,663,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.
Shares of Power Integrations, Inc. (NASDAQ:POWI) traded down 0.31% on Friday, hitting $63.65. The stock had a trading volume of 235,338 shares. Power Integrations, Inc. has a one year low of $47.00 and a one year high of $72.65. The company has a market capitalization of $1.89 billion, a P/E ratio of 36.58 and a beta of 1.16. The firm has a 50 day moving average price of $66.24 and a 200 day moving average price of $66.38.
Power Integrations (NASDAQ:POWI) last released its earnings results on Thursday, April 27th. The semiconductor company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.11. The firm had revenue of $104.70 million during the quarter, compared to analyst estimates of $102.21 million. Power Integrations had a net margin of 13.07% and a return on equity of 12.19%. Power Integrations’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. On average, equities research analysts predict that Power Integrations, Inc. will post $2.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $0.56 annualized dividend and a dividend yield of 0.88%. Power Integrations’s dividend payout ratio is currently 31.29%.
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Several analysts have weighed in on the company. BidaskClub downgraded Power Integrations from a “strong-buy” rating to a “buy” rating in a research note on Friday. Zacks Investment Research raised Power Integrations from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Wednesday. Finally, Sidoti raised Power Integrations from a “neutral” rating to a “buy” rating in a research note on Monday, May 15th. Six research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $72.50.
In other news, VP David Mh Matthews sold 776 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $67.04, for a total transaction of $52,023.04. Following the completion of the transaction, the vice president now directly owns 44,405 shares of the company’s stock, valued at approximately $2,976,911.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Balu Balakrishnan sold 1,836 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $63.68, for a total transaction of $116,916.48. Following the sale, the insider now owns 244,576 shares in the company, valued at $15,574,599.68. The disclosure for this sale can be found here. Insiders have sold 5,933 shares of company stock worth $393,063 in the last quarter. Company insiders own 4.30% of the company’s stock.
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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