Insider Selling: Power Integrations, Inc. (POWI) Director Sells $794,900.00 in Stock
Power Integrations, Inc. (NASDAQ:POWI) Director Steven Sharp sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $79.49, for a total value of $794,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Power Integrations, Inc. (NASDAQ POWI) opened at $79.20 on Monday. The company has a market capitalization of $2,353.57, a price-to-earnings ratio of 37.71 and a beta of 1.29. Power Integrations, Inc. has a fifty-two week low of $61.44 and a fifty-two week high of $86.60.
Power Integrations (NASDAQ:POWI) last announced its earnings results on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $111.30 million for the quarter, compared to analysts’ expectations of $111.82 million. Power Integrations had a return on equity of 11.95% and a net margin of 13.69%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 EPS. analysts forecast that Power Integrations, Inc. will post 2.06 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.56 annualized dividend and a yield of 0.71%. Power Integrations’s dividend payout ratio (DPR) is presently 29.02%.
Several brokerages have recently weighed in on POWI. Zacks Investment Research upgraded Power Integrations from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. BidaskClub downgraded Power Integrations from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Stifel Nicolaus restated a “buy” rating and set a $85.00 price objective on shares of Power Integrations in a report on Wednesday, October 4th. Drexel Hamilton set a $84.00 price objective on Power Integrations and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Deutsche Bank AG downgraded Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $83.50.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Neuberger Berman Group LLC boosted its position in Power Integrations by 4.6% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,925,039 shares of the semiconductor company’s stock valued at $214,113,000 after acquiring an additional 128,790 shares in the last quarter. California Public Employees Retirement System boosted its position in Power Integrations by 6.9% during the 3rd quarter. California Public Employees Retirement System now owns 81,554 shares of the semiconductor company’s stock valued at $5,970,000 after acquiring an additional 5,254 shares in the last quarter. Granahan Investment Management Inc. MA boosted its position in Power Integrations by 63.5% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 96,873 shares of the semiconductor company’s stock valued at $7,091,000 after acquiring an additional 37,639 shares in the last quarter. Jane Street Group LLC bought a new stake in Power Integrations during the 3rd quarter valued at $205,000. Finally, Nicholas Investment Partners LP bought a new stake in Power Integrations during the 3rd quarter valued at $2,754,000. 97.66% of the stock is currently owned by institutional investors and hedge funds.
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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