Wells Fargo & Company MN grew its stake in Power Integrations Inc (NASDAQ:POWI) by 7.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,365 shares of the semiconductor company’s stock after acquiring an additional 9,634 shares during the quarter. Wells Fargo & Company MN owned 0.44% of Power Integrations worth $9,662,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in POWI. Jane Street Group LLC bought a new stake in Power Integrations in the third quarter worth $205,000. Dynamic Technology Lab Private Ltd bought a new stake in Power Integrations in the third quarter worth $288,000. Tiedemann Wealth Management LLC boosted its holdings in Power Integrations by 9.2% in the third quarter. Tiedemann Wealth Management LLC now owns 15,980 shares of the semiconductor company’s stock worth $292,000 after acquiring an additional 1,351 shares in the last quarter. Stephens Inc. AR boosted its holdings in Power Integrations by 23.7% in the third quarter. Stephens Inc. AR now owns 5,346 shares of the semiconductor company’s stock worth $391,000 after acquiring an additional 1,023 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Power Integrations in the third quarter worth $397,000. 96.27% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on POWI. Zacks Investment Research upgraded Power Integrations from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research note on Tuesday, December 19th. BidaskClub cut Power Integrations from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Susquehanna Bancshares began coverage on Power Integrations in a research note on Wednesday, December 13th. They issued a “neutral” rating and a $80.00 price target for the company. They noted that the move was a valuation call. Finally, Sidoti cut Power Integrations from a “buy” rating to a “neutral” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Power Integrations presently has an average rating of “Hold” and a consensus target price of $81.40.
Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $110.50 million. Power Integrations had a return on equity of 12.70% and a net margin of 6.39%. Power Integrations’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 earnings per share. analysts forecast that Power Integrations Inc will post 2 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, February 28th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Tuesday, February 27th. This is a boost from Power Integrations’s previous quarterly dividend of $0.14. Power Integrations’s dividend payout ratio is 71.11%.
Power Integrations announced that its board has approved a share repurchase plan on Thursday, February 1st that permits the company to buyback $30.00 million in shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
In related news, CFO Sandeep Nayyar sold 2,022 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $77.50, for a total transaction of $156,705.00. Following the completion of the sale, the chief financial officer now owns 58,522 shares in the company, valued at $4,535,455. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Balu Balakrishnan sold 17,186 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $63.02, for a total value of $1,083,061.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,235 shares of company stock valued at $4,234,629. 4.30% of the stock is owned by company insiders.
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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