Rothschild Asset Management Inc. decreased its position in Power Integrations (NASDAQ:POWI) by 40.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 55,875 shares of the semiconductor company’s stock after selling 37,902 shares during the period. Rothschild Asset Management Inc. owned about 0.19% of Power Integrations worth $3,819,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB bought a new stake in Power Integrations in the 4th quarter valued at approximately $224,000. Stone Ridge Asset Management LLC bought a new stake in Power Integrations in the 4th quarter valued at approximately $307,000. Koch Industries Inc. acquired a new position in shares of Power Integrations during the 4th quarter worth approximately $310,000. Jefferies Group LLC acquired a new position in shares of Power Integrations during the 4th quarter worth approximately $429,000. Finally, Carillon Tower Advisers Inc. acquired a new position in shares of Power Integrations during the 4th quarter worth approximately $563,000. Hedge funds and other institutional investors own 95.12% of the company’s stock.
Power Integrations opened at $73.15 on Tuesday, Marketbeat Ratings reports. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 32.08 and a beta of 1.21. Power Integrations has a twelve month low of $60.55 and a twelve month high of $86.60.
Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, April 26th. The semiconductor company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The firm had revenue of $103.10 million for the quarter, compared to analyst estimates of $102.78 million. Power Integrations had a return on equity of 12.69% and a net margin of 6.44%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 EPS. sell-side analysts forecast that Power Integrations will post 2.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Thursday, May 31st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Wednesday, May 30th. Power Integrations’s payout ratio is presently 28.07%.
Power Integrations declared that its board has authorized a share repurchase program on Thursday, February 1st that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Several research analysts have weighed in on the company. Zacks Investment Research raised Power Integrations from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. ValuEngine raised Power Integrations from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. BidaskClub raised Power Integrations from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Drexel Hamilton set a $84.00 price target on Power Integrations and gave the stock a “buy” rating in a research report on Friday, April 27th. Finally, Sidoti lowered Power Integrations from a “buy” rating to a “neutral” rating in a research report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Power Integrations currently has a consensus rating of “Hold” and an average target price of $81.40.
In related news, Director William George sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $72.00, for a total transaction of $108,000.00. Following the transaction, the director now directly owns 17,891 shares of the company’s stock, valued at approximately $1,288,152. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan Bickell sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $66.00, for a total value of $330,000.00. Following the transaction, the director now directly owns 14,933 shares in the company, valued at $985,578. The disclosure for this sale can be found here. Insiders have sold a total of 25,336 shares of company stock worth $1,733,113 over the last three months. 4.00% of the stock is owned by insiders.
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 offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, liquid-crystal-display monitors, main and standby power supplies for desktop computers and TVs, light-emitting diode lamps, and other consumer and industrial applications.
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