Fmr LLC Continues to Hold Stake in Power Integrations, Inc. (POWI)
Fmr LLC maintained its position in Power Integrations, Inc. (NASDAQ:POWI) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 12,127 shares of the semiconductor company’s stock at the end of the first quarter. Fmr LLC’s holdings in Power Integrations were worth $797,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in POWI. Norges Bank purchased a new position in Power Integrations during the fourth quarter worth approximately $19,531,000. Pier Capital LLC purchased a new position in Power Integrations during the first quarter worth approximately $5,594,000. OppenheimerFunds Inc. raised its position in Power Integrations by 30.5% in the first quarter. OppenheimerFunds Inc. now owns 331,386 shares of the semiconductor company’s stock worth $21,789,000 after buying an additional 77,458 shares in the last quarter. Wellington Management Group LLP raised its position in Power Integrations by 19.4% in the first quarter. Wellington Management Group LLP now owns 461,795 shares of the semiconductor company’s stock worth $30,363,000 after buying an additional 75,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Power Integrations by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 1,142,535 shares of the semiconductor company’s stock worth $75,121,000 after buying an additional 30,058 shares in the last quarter. 95.80% of the stock is currently owned by institutional investors.
Power Integrations, Inc. (NASDAQ POWI) opened at 69.55 on Monday. The company’s 50-day moving average is $72.88 and its 200-day moving average is $67.80. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 38.66 and a beta of 1.23. Power Integrations, Inc. has a 12 month low of $55.44 and a 12 month high of $82.80.
Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. Power Integrations had a return on equity of 12.08% and a net margin of 13.37%. The firm had revenue of $107.56 million for the quarter, compared to analyst estimates of $107.85 million. During the same period last year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts anticipate that Power Integrations, Inc. will post $2.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, August 29th. Power Integrations’s payout ratio is 29.95%.
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POWI has been the topic of a number of recent analyst reports. Sidoti initiated coverage on shares of Power Integrations in a research report on Monday, April 17th. They issued a “neutral” rating on the stock. Zacks Investment Research lowered shares of Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research report on Tuesday, May 30th. BidaskClub lowered shares of Power Integrations from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 16th. Deutsche Bank AG lowered shares of Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research report on Tuesday, July 25th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 target price (up previously from $75.00) on shares of Power Integrations in a research report on Friday, June 30th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $78.50.
In other news, insider Balu Balakrishnan sold 50,000 shares of Power Integrations stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now directly owns 319,576 shares of the company’s stock, valued at $23,968,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas Brathwaite sold 4,000 shares of Power Integrations stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $80.00, for a total value of $320,000.00. Following the sale, the director now directly owns 28,109 shares in the company, valued at $2,248,720. The disclosure for this sale can be found here. Insiders have sold 131,981 shares of company stock worth $10,093,383 over the last three months. Insiders own 4.30% of the company’s stock.
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.
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