Corebridge Financial Inc. lowered its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,089 shares of the semiconductor company's stock after selling 4,956 shares during the period. Corebridge Financial Inc. owned about 0.16% of Power Integrations worth $5,682,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Power Integrations by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 7,210,835 shares of the semiconductor company's stock worth $444,909,000 after acquiring an additional 114,047 shares during the period. State Street Corp grew its holdings in Power Integrations by 1.1% in the third quarter. State Street Corp now owns 2,540,328 shares of the semiconductor company's stock valued at $162,886,000 after purchasing an additional 27,488 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Power Integrations by 25.6% in the third quarter. Wellington Management Group LLP now owns 2,340,328 shares of the semiconductor company's stock valued at $150,062,000 after buying an additional 476,986 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of Power Integrations by 4.0% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,111,663 shares of the semiconductor company's stock worth $135,400,000 after buying an additional 80,761 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Power Integrations by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,575,437 shares of the semiconductor company's stock worth $101,033,000 after buying an additional 63,150 shares in the last quarter.
Power Integrations Stock Performance
NASDAQ POWI traded down $6.42 during mid-day trading on Thursday, reaching $44.90. 782,751 shares of the stock were exchanged, compared to its average volume of 434,808. The business's fifty day simple moving average is $58.63 and its 200 day simple moving average is $61.48. The stock has a market capitalization of $2.55 billion, a PE ratio of 78.77, a PEG ratio of 4.08 and a beta of 1.32. Power Integrations, Inc. has a 1-year low of $44.85 and a 1-year high of $79.13.
Power Integrations (NASDAQ:POWI - Get Free Report) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.12). Power Integrations had a net margin of 7.69% and a return on equity of 4.48%. On average, analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current year.
Power Integrations Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, February 28th. Power Integrations's dividend payout ratio (DPR) is 147.37%.
Insiders Place Their Bets
In other Power Integrations news, VP Radu Barsan sold 10,393 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $66.08, for a total transaction of $686,769.44. Following the completion of the sale, the vice president now owns 45,295 shares of the company's stock, valued at approximately $2,993,093.60. The trade was a 18.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Clifford Walker sold 2,472 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $60.75, for a total value of $150,174.00. Following the completion of the transaction, the vice president now owns 142,145 shares in the company, valued at approximately $8,635,308.75. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,544 shares of company stock valued at $2,433,105 over the last quarter. Company insiders own 1.70% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Benchmark restated a "buy" rating and set a $78.00 target price on shares of Power Integrations in a research report on Friday, February 7th. StockNews.com downgraded Power Integrations from a "buy" rating to a "hold" rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Power Integrations has a consensus rating of "Moderate Buy" and a consensus price target of $78.00.
Read Our Latest Stock Analysis on Power Integrations
Power Integrations Profile
(
Free Report)
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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