EA Series Trust bought a new position in shares of Power Integrations, Inc. (NASDAQ:POWI – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,441 shares of the semiconductor company’s stock, valued at approximately $231,000.
A number of other institutional investors have also modified their holdings of POWI. Wellington Management Group LLP boosted its stake in Power Integrations by 2.8% during the 1st quarter. Wellington Management Group LLP now owns 2,496,977 shares of the semiconductor company’s stock worth $231,420,000 after purchasing an additional 67,672 shares during the period. State Street Corp grew its holdings in shares of Power Integrations by 4.0% during the first quarter. State Street Corp now owns 2,363,621 shares of the semiconductor company’s stock worth $200,057,000 after buying an additional 91,770 shares during the last quarter. Macquarie Group Ltd. increased its position in Power Integrations by 0.3% in the 1st quarter. Macquarie Group Ltd. now owns 1,388,016 shares of the semiconductor company’s stock valued at $117,482,000 after acquiring an additional 3,797 shares during the period. Geode Capital Management LLC raised its stake in Power Integrations by 5.7% during the 1st quarter. Geode Capital Management LLC now owns 1,257,335 shares of the semiconductor company’s stock valued at $106,421,000 after acquiring an additional 67,886 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Power Integrations by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,212,171 shares of the semiconductor company’s stock worth $102,596,000 after acquiring an additional 17,850 shares during the period.
Power Integrations Stock Down 0.7 %
Shares of NASDAQ POWI opened at $70.11 on Tuesday. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 44.37 and a beta of 1.22. Power Integrations, Inc. has a 52 week low of $59.16 and a 52 week high of $99.60. The firm has a 50-day moving average price of $78.68 and a 200 day moving average price of $83.73.
Power Integrations (NASDAQ:POWI – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The company had revenue of $123.22 million during the quarter, compared to the consensus estimate of $122.77 million. Power Integrations had a net margin of 17.58% and a return on equity of 12.00%. Equities research analysts expect that Power Integrations, Inc. will post 1.17 EPS for the current fiscal year.
Power Integrations Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, August 31st were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.76 dividend on an annualized basis and a yield of 1.08%. Power Integrations’s payout ratio is 48.10%.
Insider Buying and Selling at Power Integrations
In other news, CFO Sandeep Nayyar sold 5,514 shares of Power Integrations stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $84.25, for a total transaction of $464,554.50. Following the completion of the transaction, the chief financial officer now owns 88,707 shares of the company’s stock, valued at approximately $7,473,564.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Power Integrations news, CFO Sandeep Nayyar sold 5,514 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $84.25, for a total transaction of $464,554.50. Following the completion of the transaction, the chief financial officer now directly owns 88,707 shares in the company, valued at approximately $7,473,564.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nicholas Brathwaite sold 3,516 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $85.08, for a total transaction of $299,141.28. Following the completion of the sale, the director now directly owns 42,794 shares in the company, valued at approximately $3,640,913.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,956 shares of company stock valued at $2,417,724. Insiders own 1.70% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. Stifel Nicolaus upped their price target on Power Integrations from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, July 20th. StockNews.com started coverage on shares of Power Integrations in a research report on Thursday, October 5th. They set a “hold” rating for the company. Northland Securities cut shares of Power Integrations from an “outperform” rating to a “market perform” rating and set a $82.00 target price for the company. in a research note on Monday, July 17th. Finally, Susquehanna dropped their price target on shares of Power Integrations from $105.00 to $100.00 and set a “positive” rating on the stock in a research note on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $88.14.
Read Our Latest Research Report on POWI
About Power Integrations
Power Integrations, Inc designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company provides a range of alternating current to direct current power conversion products that address power supply ranging from less than one watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, LED lighting, and various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.
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