Parametric Portfolio Associates LLC Buys 12,557 Shares of Power Integrations, Inc. (POWI)
Parametric Portfolio Associates LLC increased its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 25.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,308 shares of the semiconductor company’s stock after buying an additional 12,557 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.21% of Power Integrations worth $4,097,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Tyers Asset Management LLC bought a new stake in Power Integrations during the fourth quarter worth $114,000. Asset Management One Co. Ltd. bought a new stake in Power Integrations during the fourth quarter worth $129,000. Flinton Capital Management LLC bought a new stake in Power Integrations during the fourth quarter worth $138,000. Ellington Management Group LLC bought a new stake in Power Integrations during the fourth quarter worth $204,000. Finally, State of Alaska Department of Revenue increased its stake in Power Integrations by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 3,250 shares of the semiconductor company’s stock worth $213,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 96.10% of the company’s stock.
Shares of Power Integrations, Inc. (NASDAQ:POWI) opened at 74.85 on Wednesday. Power Integrations, Inc. has a one year low of $47.00 and a one year high of $75.05. The firm’s 50-day moving average price is $66.16 and its 200-day moving average price is $66.37. The firm has a market capitalization of $2.22 billion, a P/E ratio of 43.02 and a beta of 1.16.
Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, April 27th. The semiconductor company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.11. The business had revenue of $104.70 million during the quarter, compared to the consensus estimate of $102.21 million. Power Integrations had a return on equity of 12.19% and a net margin of 13.07%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. On average, equities analysts forecast that Power Integrations, Inc. will post $2.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.75%. The ex-dividend date is Friday, May 26th. Power Integrations’s dividend payout ratio is presently 31.29%.
A number of research firms recently weighed in on POWI. Sidoti upgraded Power Integrations from a “neutral” rating to a “buy” rating in a report on Monday, May 15th. Zacks Investment Research downgraded Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a report on Tuesday, May 30th. Finally, BidaskClub downgraded Power Integrations from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. Six analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of $71.00.
In other Power Integrations news, VP Raja Petrakian sold 1,116 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $63.05, for a total value of $70,363.80. Following the transaction, the vice president now owns 33,087 shares in the company, valued at $2,086,135.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Balu Balakrishnan sold 1,836 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $63.68, for a total transaction of $116,916.48. Following the completion of the transaction, the insider now owns 244,576 shares in the company, valued at approximately $15,574,599.68. The disclosure for this sale can be found here. Insiders sold 5,933 shares of company stock valued at $393,063 over the last three months. 4.30% of the stock is currently owned by insiders.
About Power Integrations
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.
Receive News & Stock Ratings for Power Integrations Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Power Integrations Inc. and related stocks with our FREE daily email newsletter.