Power Integrations, Inc. (NASDAQ:POWI) Shares Bought by Citigroup Inc.

Citigroup Inc. lifted its stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 158.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,612 shares of the semiconductor company's stock after buying an additional 34,707 shares during the quarter. Citigroup Inc. owned approximately 0.10% of Power Integrations worth $3,630,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Tidal Investments LLC bought a new position in shares of Power Integrations during the 1st quarter worth approximately $632,000. DekaBank Deutsche Girozentrale grew its stake in Power Integrations by 7.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,622 shares of the semiconductor company's stock valued at $605,000 after acquiring an additional 633 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Power Integrations by 69.8% in the 2nd quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 150 shares during the last quarter. Mather Group LLC. raised its position in Power Integrations by 22.8% in the second quarter. Mather Group LLC. now owns 868 shares of the semiconductor company's stock valued at $62,000 after purchasing an additional 161 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Power Integrations by 295.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,616 shares of the semiconductor company's stock valued at $745,000 after acquiring an additional 7,932 shares during the period.

Power Integrations Trading Down 1.9 %

NASDAQ:POWI traded down $1.22 on Thursday, reaching $62.67. 351,591 shares of the stock traded hands, compared to its average volume of 407,120. Power Integrations, Inc. has a 1-year low of $56.63 and a 1-year high of $89.68. The company's 50 day moving average is $63.63 and its 200-day moving average is $67.03. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 96.80, a price-to-earnings-growth ratio of 7.16 and a beta of 1.12.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $115.84 million during the quarter, compared to analyst estimates of $114.83 million. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. Power Integrations's quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. On average, equities research analysts forecast that Power Integrations, Inc. will post 0.54 EPS for the current fiscal year.

Power Integrations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.21 per share. This is a boost from Power Integrations's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a yield of 1.34%. Power Integrations's payout ratio is presently 127.27%.

Insider Buying and Selling at Power Integrations

In other news, VP Clifford Walker sold 10,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $64.36, for a total value of $643,600.00. Following the sale, the vice president now owns 130,934 shares in the company, valued at $8,426,912.24. This represents a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Doug Bailey sold 8,549 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $64.96, for a total value of $555,343.04. Following the transaction, the vice president now owns 86,375 shares in the company, valued at $5,610,920. This represents a 9.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,655 shares of company stock worth $1,205,566. Insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on POWI. Susquehanna lowered their target price on Power Integrations from $80.00 to $77.00 and set a "positive" rating for the company in a research note on Thursday, November 7th. Benchmark reissued a "buy" rating and issued a $78.00 target price on shares of Power Integrations in a research note on Friday, November 8th. Northland Securities upgraded Power Integrations from a "market perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a report on Monday, August 12th. Northland Capmk upgraded Power Integrations from a "hold" rating to a "strong-buy" rating in a report on Monday, August 12th. Finally, TD Cowen dropped their target price on shares of Power Integrations from $80.00 to $70.00 and set a "hold" rating for the company in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $78.00.

Power Integrations 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.