WINTON GROUP Ltd acquired a new stake in Power Integrations Inc (NASDAQ:POWI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 71,830 shares of the semiconductor company’s stock, valued at approximately $5,283,000. WINTON GROUP Ltd owned 0.24% of Power Integrations at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in POWI. BlackRock Inc. lifted its position in Power Integrations by 4.1% during the fourth quarter. BlackRock Inc. now owns 3,690,626 shares of the semiconductor company’s stock valued at $271,447,000 after purchasing an additional 146,319 shares during the last quarter. Pax World Management LLC purchased a new position in shares of Power Integrations during the third quarter worth approximately $10,698,000. Impax Asset Management LTD raised its stake in shares of Power Integrations by 20.7% during the third quarter. Impax Asset Management LTD now owns 839,787 shares of the semiconductor company’s stock worth $61,472,000 after acquiring an additional 144,088 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of Power Integrations by 4.6% during the third quarter. Neuberger Berman Group LLC now owns 2,925,039 shares of the semiconductor company’s stock worth $214,113,000 after acquiring an additional 128,790 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Power Integrations by 539.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,340 shares of the semiconductor company’s stock worth $9,980,000 after acquiring an additional 115,018 shares in the last quarter. Institutional investors own 96.28% of the company’s stock.
Several research analysts have commented on POWI shares. Zacks Investment Research raised shares of Power Integrations from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research note on Tuesday, December 19th. BidaskClub raised shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Sidoti downgraded shares of Power Integrations from a “buy” rating to a “neutral” rating in a research note on Friday, February 2nd. Finally, Susquehanna Bancshares started coverage on shares of Power Integrations in a research note on Wednesday, December 13th. They set a “neutral” rating and a $80.00 price target on the stock. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $81.40.
In related news, CFO Sandeep Nayyar sold 2,022 shares of Power Integrations stock in a transaction on Monday, January 29th. The shares were sold at an average price of $77.50, for a total value of $156,705.00. Following the sale, the chief financial officer now owns 58,522 shares in the company, valued at $4,535,455. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alan Bickell sold 5,000 shares of Power Integrations stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $65.00, for a total transaction of $325,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,235 shares of company stock worth $4,234,629. 4.30% of the stock is currently owned by company insiders.
Shares of Power Integrations Inc (POWI) remained flat at $$71.95 during midday trading on Wednesday. The company’s stock had a trading volume of 152,441 shares, compared to its average volume of 209,926. Power Integrations Inc has a 12-month low of $60.55 and a 12-month high of $86.60. The company has a market capitalization of $2,150.00, a PE ratio of 33.47 and a beta of 1.23.
Power Integrations (NASDAQ:POWI) last issued its earnings results on Thursday, February 1st. The semiconductor company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. Power Integrations had a net margin of 6.39% and a return on equity of 12.70%. The company had revenue of $108.20 million for the quarter, compared to the consensus estimate of $110.50 million. During the same period in the previous year, the firm earned $0.67 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. analysts predict that Power Integrations Inc will post 2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, February 28th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.89%. This is an increase from Power Integrations’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Tuesday, February 27th. Power Integrations’s payout ratio is presently 29.77%.
Power Integrations announced that its board has authorized a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
TRADEMARK VIOLATION WARNING: “WINTON GROUP Ltd Purchases Shares of 71,830 Power Integrations Inc (NASDAQ:POWI)” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this story on another website, it was illegally stolen and reposted in violation of US and international copyright legislation. The correct version of this story can be accessed at https://ledgergazette.com/2018/03/14/winton-group-ltd-takes-position-in-power-integrations-inc-powi.html.
About Power Integrations
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.
Receive News & Ratings for Power Integrations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Power Integrations and related companies with MarketBeat.com's FREE daily email newsletter.