Raymond James Financial Inc. purchased a new position in Power Integrations, Inc. (NASDAQ:POWI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 121,062 shares of the semiconductor company's stock, valued at approximately $7,470,000. Raymond James Financial Inc. owned about 0.21% of Power Integrations at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in POWI. Victory Capital Management Inc. boosted its position in shares of Power Integrations by 6.3% in the third quarter. Victory Capital Management Inc. now owns 12,589 shares of the semiconductor company's stock worth $807,000 after acquiring an additional 744 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Power Integrations by 214.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,860 shares of the semiconductor company's stock worth $2,684,000 after purchasing an additional 28,548 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Power Integrations by 60.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,451 shares of the semiconductor company's stock valued at $670,000 after purchasing an additional 3,926 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Power Integrations by 10.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,196 shares of the semiconductor company's stock valued at $141,000 after buying an additional 205 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Power Integrations by 10.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 257,823 shares of the semiconductor company's stock worth $16,531,000 after buying an additional 23,405 shares during the last quarter.
Analysts Set New Price Targets
POWI has been the topic of a number of research analyst reports. Benchmark reiterated a "buy" rating and issued a $78.00 target price on shares of Power Integrations in a report on Friday, February 7th. StockNews.com raised shares of Power Integrations from a "hold" rating to a "buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Power Integrations has an average rating of "Moderate Buy" and a consensus target price of $78.00.
Read Our Latest Analysis on POWI
Insider Buying and Selling at Power Integrations
In other Power Integrations news, VP Clifford Walker sold 2,472 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $60.75, for a total transaction of $150,174.00. Following the sale, the vice president now owns 142,145 shares in the company, valued at $8,635,308.75. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Radu Barsan sold 10,393 shares of Power Integrations stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $66.08, for a total value of $686,769.44. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 39,544 shares of company stock worth $2,433,105 in the last ninety days. 1.70% of the stock is owned by insiders.
Power Integrations Stock Down 1.4 %
Shares of Power Integrations stock traded down $0.80 during trading hours on Thursday, hitting $54.55. 443,124 shares of the company's stock traded hands, compared to its average volume of 412,646. Power Integrations, Inc. has a twelve month low of $53.96 and a twelve month high of $79.13. The stock has a 50 day simple moving average of $60.05 and a 200-day simple moving average of $61.83. The company has a market cap of $3.10 billion, a PE ratio of 95.70, a PEG ratio of 4.08 and a beta of 1.11.
Power Integrations (NASDAQ:POWI - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.12). Power Integrations had a net margin of 7.69% and a return on equity of 4.48%. As a group, equities research analysts predict 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 will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.84 annualized dividend and a yield of 1.54%. Power Integrations's dividend payout ratio is presently 147.37%.
Power Integrations Company 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.
Further Reading
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