Barclays PLC lifted its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 173.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,754 shares of the semiconductor company's stock after purchasing an additional 114,644 shares during the period. Barclays PLC owned about 0.32% of Power Integrations worth $11,591,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. MML Investors Services LLC boosted its position in Power Integrations by 3.4% during the third quarter. MML Investors Services LLC now owns 6,231 shares of the semiconductor company's stock worth $400,000 after acquiring an additional 207 shares during the last quarter. First National Bank of Omaha boosted its position in Power Integrations by 1.3% during the third quarter. First National Bank of Omaha now owns 40,454 shares of the semiconductor company's stock worth $2,594,000 after acquiring an additional 526 shares during the last quarter. Pier Capital LLC boosted its position in Power Integrations by 1.9% during the third quarter. Pier Capital LLC now owns 112,474 shares of the semiconductor company's stock worth $7,212,000 after acquiring an additional 2,139 shares during the last quarter. Wellington Management Group LLP boosted its position in Power Integrations by 25.6% during the third quarter. Wellington Management Group LLP now owns 2,340,328 shares of the semiconductor company's stock worth $150,062,000 after acquiring an additional 476,986 shares during the last quarter. Finally, State Street Corp boosted its position in Power Integrations by 1.1% during the third quarter. State Street Corp now owns 2,540,328 shares of the semiconductor company's stock worth $162,886,000 after acquiring an additional 27,488 shares during the last quarter.
Insider Buying and Selling
In related news, VP Clifford Walker sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $64.36, for a total transaction of $643,600.00. Following the sale, the vice president now directly owns 130,934 shares of the company's stock, valued at $8,426,912.24. This represents a 7.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Doug Bailey sold 8,549 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $64.96, for a total transaction of $555,343.04. Following the completion of the sale, the vice president now directly owns 86,375 shares in the company, valued at approximately $5,610,920. This represents a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,655 shares of company stock valued at $1,205,566 in the last ninety days. Company insiders own 1.70% of the company's stock.
Power Integrations Price Performance
Shares of POWI stock traded up $0.27 during trading hours on Tuesday, hitting $65.06. The company had a trading volume of 283,208 shares, compared to its average volume of 404,200. The company's fifty day moving average is $63.89 and its 200 day moving average is $66.28. Power Integrations, Inc. has a fifty-two week low of $56.63 and a fifty-two week high of $87.02. The stock has a market capitalization of $3.70 billion, a PE ratio of 98.58, a price-to-earnings-growth ratio of 7.01 and a beta of 1.12.
Power Integrations (NASDAQ:POWI - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. The firm had revenue of $115.84 million for the quarter, compared to analyst estimates of $114.83 million. During the same period in the prior year, the business posted $0.35 EPS. The business's revenue for the quarter was down 7.7% compared to the same quarter last year. Equities analysts forecast that Power Integrations, Inc. will post 0.54 earnings per share for the current year.
Power Integrations Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.21 dividend. This is a positive change from Power Integrations's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Friday, November 29th. Power Integrations's dividend payout ratio is currently 127.27%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Benchmark restated a "buy" rating and set a $78.00 price target on shares of Power Integrations in a research report on Friday, November 8th. Susquehanna lowered their price target on shares of Power Integrations from $80.00 to $77.00 and set a "positive" rating on the stock in a research report on Thursday, November 7th. Finally, StockNews.com upgraded shares of Power Integrations from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Power Integrations has a consensus rating of "Moderate Buy" and an average target price of $78.00.
Check Out Our Latest Analysis on POWI
About Power Integrations
(
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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