Renaissance Technologies LLC Grows Stock Position in Power Integrations, Inc. (NASDAQ:POWI)

Renaissance Technologies LLC grew its stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 47.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,605 shares of the semiconductor company's stock after buying an additional 26,105 shares during the quarter. Renaissance Technologies LLC owned 0.14% of Power Integrations worth $5,035,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in Power Integrations in the fourth quarter valued at approximately $288,000. UMB Bank n.a. boosted its holdings in Power Integrations by 43.9% during the fourth quarter. UMB Bank n.a. now owns 629 shares of the semiconductor company's stock worth $39,000 after buying an additional 192 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Power Integrations by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 654,973 shares of the semiconductor company's stock worth $40,412,000 after buying an additional 33,741 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in Power Integrations during the fourth quarter valued at $227,000. Finally, Barclays PLC raised its position in shares of Power Integrations by 173.4% in the third quarter. Barclays PLC now owns 180,754 shares of the semiconductor company's stock worth $11,591,000 after acquiring an additional 114,644 shares during the period.

Insider Buying and Selling

In other Power Integrations news, VP Radu Barsan sold 10,393 shares of the company's stock in a transaction 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 sale, the vice president now directly owns 45,295 shares in the company, valued at $2,993,093.60. This represents a 18.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Clifford Walker sold 1,088 shares of Power Integrations stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $50.89, for a total value of $55,368.32. Following the transaction, the vice president now owns 141,765 shares in the company, valued at approximately $7,214,420.85. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,105 shares of company stock worth $3,075,198. 1.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on POWI shares. StockNews.com cut Power Integrations from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Stifel Nicolaus dropped their price objective on Power Integrations from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Benchmark reaffirmed a "buy" rating and set a $78.00 target price on shares of Power Integrations in a research note on Friday, February 7th. Three investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $73.83.

Power Integrations Trading Down 1.0 %

NASDAQ:POWI traded down $0.53 during trading hours on Friday, hitting $49.67. 73,424 shares of the stock were exchanged, compared to its average volume of 454,039. The company has a market cap of $2.82 billion, a P/E ratio of 87.08, a P/E/G ratio of 4.08 and a beta of 1.32. The firm's fifty day moving average price is $53.69 and its 200 day moving average price is $59.60. Power Integrations, Inc. has a 52-week low of $40.78 and a 52-week high of $79.13.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly earnings data 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%. Equities analysts expect that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, February 28th. Power Integrations's dividend payout ratio is currently 147.37%.

About Power Integrations

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.