Delta Lloyd Asset Management N.V. purchased a new position in shares of Power Integrations, Inc. (NASDAQ:POWI) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 70,000 shares of the semiconductor company’s stock, valued at approximately $5,103,000. Delta Lloyd Asset Management N.V. owned approximately 0.24% of Power Integrations as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in POWI. Huntington National Bank boosted its stake in shares of Power Integrations by 22.8% during the 2nd quarter. Huntington National Bank now owns 1,504 shares of the semiconductor company’s stock worth $110,000 after acquiring an additional 279 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Power Integrations by 22.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,210 shares of the semiconductor company’s stock worth $145,000 after acquiring an additional 409 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Power Integrations during the 1st quarter worth about $156,000. Turner Investments LLC acquired a new position in shares of Power Integrations during the 2nd quarter worth about $182,000. Finally, PEAK6 Investments L.P. acquired a new position in shares of Power Integrations during the 1st quarter worth about $212,000. Institutional investors own 95.75% of the company’s stock.
Several equities analysts recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating on shares of Power Integrations in a research report on Wednesday. Zacks Investment Research raised Power Integrations from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Saturday, June 24th. BidaskClub cut Power Integrations from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Drexel Hamilton set a $84.00 price objective on Power Integrations and gave the stock a “buy” rating in a research report on Friday, July 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $78.50.
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Power Integrations, Inc. (NASDAQ:POWI) opened at 73.85 on Friday. The firm has a market cap of $2.20 billion, a PE ratio of 41.05 and a beta of 1.23. Power Integrations, Inc. has a 52-week low of $59.41 and a 52-week high of $82.80. The company’s 50 day moving average price is $71.13 and its 200 day moving average price is $68.55.
Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Power Integrations had a return on equity of 12.08% and a net margin of 13.37%. The business had revenue of $107.56 million during the quarter, compared to analysts’ expectations of $107.85 million. During the same quarter last year, the company posted $0.61 earnings per share. Power Integrations’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts predict that Power Integrations, Inc. will post $2.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Tuesday, August 29th. Power Integrations’s payout ratio is currently 29.95%.
In other news, VP David Mh Matthews sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $71.22, for a total transaction of $71,220.00. Following the completion of the sale, the vice president now owns 43,405 shares in the company, valued at $3,091,304.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Nicholas Brathwaite sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $80.00, for a total value of $320,000.00. Following the sale, the director now owns 28,109 shares of the company’s stock, valued at approximately $2,248,720. The disclosure for this sale can be found here. Insiders have sold 134,593 shares of company stock valued at $10,278,057 in the last quarter. 4.30% of the stock is currently owned by corporate insiders.
Power Integrations Company Profile
Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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