Cannell & Spears LLC Purchases 31,452 Shares of Power Integrations, Inc. $POWI

Cannell & Spears LLC increased its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 98.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,278 shares of the semiconductor company’s stock after purchasing an additional 31,452 shares during the period. Cannell & Spears LLC owned approximately 0.11% of Power Integrations worth $3,030,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its position in Power Integrations by 576.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 536 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Power Integrations during the fourth quarter valued at approximately $36,000. UMB Bank n.a. grew its stake in shares of Power Integrations by 61.7% during the fourth quarter. UMB Bank n.a. now owns 1,074 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 410 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Power Integrations during the 4th quarter valued at $48,000. Finally, Global X Japan Co. Ltd. grew its position in Power Integrations by 98.0% in the 4th quarter. Global X Japan Co. Ltd. now owns 1,998 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 989 shares during the last quarter.

Insider Buying and Selling

In other Power Integrations news, Director Balu Balakrishnan sold 124,287 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $86.44, for a total transaction of $10,743,368.28. Following the completion of the sale, the director owned 279,516 shares in the company, valued at $24,161,363.04. This represents a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sunil Gupta sold 15,894 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $82.18, for a total value of $1,306,168.92. Following the sale, the vice president owned 71,239 shares of the company’s stock, valued at approximately $5,854,421.02. This represents a 18.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 334,772 shares of company stock valued at $27,322,535 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on POWI. Zacks Research downgraded Power Integrations from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Power Integrations in a research note on Friday, May 8th. Northland Securities lowered shares of Power Integrations from an “outperform” rating to a “market perform” rating and set a $46.00 price objective for the company. in a report on Monday, April 6th. Needham & Company LLC started coverage on shares of Power Integrations in a research report on Wednesday, June 10th. They issued a “buy” rating and a $90.00 price objective for the company. Finally, Susquehanna upped their target price on shares of Power Integrations from $70.00 to $85.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $76.20.

Power Integrations Trading Down 10.5%

Shares of POWI stock opened at $63.46 on Friday. Power Integrations, Inc. has a twelve month low of $30.86 and a twelve month high of $91.18. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 211.54, a P/E/G ratio of 3.25 and a beta of 1.57. The stock has a fifty day simple moving average of $76.57 and a two-hundred day simple moving average of $60.62.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Power Integrations had a return on equity of 5.34% and a net margin of 3.72%.The business had revenue of $108.31 million for the quarter, compared to the consensus estimate of $106.75 million. During the same quarter in the prior year, the company earned $0.31 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. Research analysts predict that Power Integrations, Inc. will post 0.76 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were paid a $0.215 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.86 dividend on an annualized basis and a yield of 1.4%. Power Integrations’s payout ratio is 286.67%.

Power Integrations Company Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.