Paloma Partners Management Co decreased its holdings in shares of Power Integrations Inc (NASDAQ:POWI) by 19.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,674 shares of the semiconductor company’s stock after selling 3,969 shares during the period. Paloma Partners Management Co owned 0.06% of Power Integrations worth $1,226,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jane Street Group LLC acquired a new stake in Power Integrations in the 3rd quarter worth approximately $205,000. Dynamic Technology Lab Private Ltd acquired a new stake in Power Integrations in the 3rd quarter worth approximately $288,000. Tiedemann Wealth Management LLC boosted its stake in Power Integrations by 9.2% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 15,980 shares of the semiconductor company’s stock worth $292,000 after purchasing an additional 1,351 shares in the last quarter. Stone Ridge Asset Management LLC acquired a new stake in Power Integrations in the 4th quarter worth approximately $307,000. Finally, Koch Industries Inc. acquired a new stake in Power Integrations in the 4th quarter worth approximately $310,000. 96.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Power Integrations Inc (NASDAQ POWI) opened at $72.00 on Friday. Power Integrations Inc has a 12 month low of $60.55 and a 12 month high of $86.60. The company has a market cap of $2,148.12, a P/E ratio of 31.58 and a beta of 1.23.
Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.74 EPS for the quarter, beating 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 business had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $110.50 million. During the same period in the previous year, the business posted $0.67 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. research analysts forecast that Power Integrations Inc will post 2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.89%. This is a boost 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 71.11%.
Power Integrations declared that its board has authorized a stock repurchase plan on Thursday, February 1st that permits the company to buyback $30.00 million in shares. This buyback authorization permits the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
A number of research firms recently commented on POWI. BidaskClub upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Sidoti cut shares of Power Integrations from a “buy” rating to a “neutral” rating in a research note on Friday, February 2nd. Zacks Investment Research cut shares of Power Integrations from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 8th. Finally, Susquehanna Bancshares began coverage on shares of Power Integrations in a research note on Wednesday, December 13th. They issued a “neutral” rating and a $80.00 target price for the company. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $81.40.
In other Power Integrations news, insider Balu Balakrishnan sold 17,186 shares of Power Integrations stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $63.02, for a total transaction of $1,083,061.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ben Sutherland sold 738 shares of Power Integrations stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $66.51, for a total transaction of $49,084.38. Following the sale, the vice president now owns 44,986 shares of the company’s stock, valued at $2,992,018.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,235 shares of company stock valued at $4,234,629. Company insiders own 4.30% of the company’s stock.
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Power Integrations 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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