Eqis Capital Management Inc. Raises Position in Power Integrations, Inc. (POWI)
Eqis Capital Management Inc. raised its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,493 shares of the semiconductor company’s stock after buying an additional 428 shares during the period. Eqis Capital Management Inc.’s holdings in Power Integrations were worth $619,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of POWI. State Board of Administration of Florida Retirement System raised its position in Power Integrations by 15.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 16,406 shares of the semiconductor company’s stock valued at $1,113,000 after buying an additional 2,198 shares in the last quarter. Guggenheim Capital LLC raised its position in Power Integrations by 14.8% in the fourth quarter. Guggenheim Capital LLC now owns 10,413 shares of the semiconductor company’s stock valued at $707,000 after buying an additional 1,343 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Power Integrations by 7.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,740 shares of the semiconductor company’s stock valued at $1,068,000 after buying an additional 1,050 shares in the last quarter. Norges Bank purchased a new position in Power Integrations during the fourth quarter valued at about $19,531,000. Finally, USA Financial Portformulas Corp purchased a new position in Power Integrations during the fourth quarter valued at about $534,000. 96.24% of the stock is currently owned by institutional investors.
Shares of Power Integrations, Inc. (POWI) opened at 80.75 on Thursday. The stock’s 50 day moving average is $70.62 and its 200-day moving average is $67.19. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 46.41 and a beta of 1.23. Power Integrations, Inc. has a one year low of $53.18 and a one year high of $81.15.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, April 27th. The semiconductor company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.11. The company had revenue of $104.70 million during the quarter, compared to analysts’ expectations of $102.21 million. Power Integrations had a net margin of 13.07% and a return on equity of 12.19%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the business earned $0.55 earnings per share. On average, equities research analysts predict that Power Integrations, Inc. will post $2.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Wednesday, May 31st were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, May 26th. Power Integrations’s dividend payout ratio (DPR) is 31.29%.
Several equities analysts have issued reports on POWI shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $82.00 price target (up from $75.00) on shares of Power Integrations in a report on Friday, June 30th. Sidoti started coverage on shares of Power Integrations in a report on Monday, April 17th. They issued a “neutral” rating on the stock. Zacks Investment Research raised shares of Power Integrations from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Saturday, June 24th. Finally, BidaskClub lowered shares of Power Integrations from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Power Integrations currently has a consensus rating of “Buy” and a consensus price target of $74.00.
In related news, VP Doug Bailey sold 4,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $72.93, for a total value of $291,720.00. Following the transaction, the vice president now directly owns 46,976 shares of the company’s stock, valued at approximately $3,425,959.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Balu Balakrishnan sold 65,000 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $78.06, for a total transaction of $5,073,900.00. Following the completion of the transaction, the insider now directly owns 319,576 shares in the company, valued at $24,946,102.56. The disclosure for this sale can be found here. Insiders sold a total of 132,933 shares of company stock worth $10,100,663 over the last ninety days. 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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