M&G Plc Makes New Investment in Power Integrations, Inc. (NASDAQ:POWI)

M&G PLC purchased a new stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 153,431 shares of the semiconductor company's stock, valued at approximately $9,820,000. M&G PLC owned about 0.27% of Power Integrations as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of POWI. Norden Group LLC bought a new stake in Power Integrations in the 1st quarter valued at $264,000. BNP Paribas Financial Markets raised its stake in Power Integrations by 3.4% in the 1st quarter. BNP Paribas Financial Markets now owns 56,136 shares of the semiconductor company's stock worth $4,017,000 after purchasing an additional 1,854 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Power Integrations by 29.2% during the first quarter. Janney Montgomery Scott LLC now owns 4,039 shares of the semiconductor company's stock worth $289,000 after buying an additional 914 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Power Integrations by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,762 shares of the semiconductor company's stock worth $3,560,000 after purchasing an additional 645 shares in the last quarter. Finally, Duality Advisers LP bought a new position in Power Integrations in the 1st quarter valued at about $1,261,000.

Power Integrations Trading Up 1.4 %

Shares of POWI stock traded up $0.93 during trading hours on Friday, hitting $66.31. 535,858 shares of the company were exchanged, compared to its average volume of 408,870. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 100.47, a P/E/G ratio of 5.34 and a beta of 1.10. The firm has a fifty day simple moving average of $62.29 and a 200 day simple moving average of $68.02. Power Integrations, Inc. has a 52-week low of $56.63 and a 52-week high of $89.68.

Power Integrations (NASDAQ:POWI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. The company had revenue of $106.20 million during the quarter, compared to analysts' expectations of $105.02 million. Power Integrations had a net margin of 9.27% and a return on equity of 4.15%. Power Integrations's revenue for the quarter was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. Sell-side analysts anticipate that Power Integrations, Inc. will post 0.59 EPS for the current year.

Power Integrations Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.27%. This is an increase from Power Integrations's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 29th. Power Integrations's payout ratio is 121.21%.

Insider Buying and Selling

In other news, VP Sunil Gupta sold 2,127 shares of Power Integrations stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total transaction of $140,169.30. Following the transaction, the vice president now owns 51,899 shares in the company, valued at $3,420,144.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 2,398 shares of company stock worth $157,847 in the last three months. Insiders own 1.70% of the company's stock.

Analyst Ratings Changes

POWI has been the subject of several research analyst reports. TD Cowen lowered their price target on shares of Power Integrations from $80.00 to $70.00 and set a "hold" rating for the company in a report on Wednesday, August 7th. Susquehanna cut their price target on Power Integrations from $80.00 to $77.00 and set a "positive" rating on the stock in a report on Thursday. Northland Capmk upgraded Power Integrations from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 12th. Stifel Nicolaus reissued a "buy" rating and issued a $95.00 price target (down previously from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Finally, Northland Securities raised Power Integrations from a "market perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $78.00.

Power Integrations Company Profile

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.