Ardsley Advisory Partners bought a new stake in Power Integrations, Inc. (NASDAQ:POWI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,000 shares of the semiconductor company’s stock, valued at approximately $510,000.
Several other hedge funds have also added to or reduced their stakes in POWI. Huntington National Bank grew its holdings in shares of Power Integrations by 22.8% in the second quarter. Huntington National Bank now owns 1,504 shares of the semiconductor company’s stock valued at $110,000 after acquiring an additional 279 shares in the last quarter. Advisor Group Inc. grew its holdings in shares of Power Integrations by 14.5% in the second quarter. Advisor Group Inc. now owns 1,827 shares of the semiconductor company’s stock valued at $132,000 after acquiring an additional 231 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Power Integrations by 22.7% in the first quarter. Victory Capital Management Inc. now owns 2,210 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 409 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Power Integrations in the first quarter valued at approximately $156,000. Finally, Riverhead Capital Management LLC grew its holdings in shares of Power Integrations by 71.2% in the second quarter. Riverhead Capital Management LLC now owns 2,397 shares of the semiconductor company’s stock valued at $175,000 after acquiring an additional 997 shares in the last quarter. 95.01% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the company. Drexel Hamilton reaffirmed a “buy” rating and issued a $84.00 target price on shares of Power Integrations in a report on Friday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $85.00 target price (up from $82.00) on shares of Power Integrations in a report on Sunday, July 30th. BidaskClub raised Power Integrations from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Zacks Investment Research raised Power Integrations from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. Finally, Deutsche Bank AG lowered Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a report on Tuesday, July 25th. Three 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 “Buy” and an average target price of $81.33.
Shares of Power Integrations, Inc. (NASDAQ:POWI) traded up 13.230% during trading on Friday, reaching $86.055. The company’s stock had a trading volume of 373,703 shares. Power Integrations, Inc. has a one year low of $61.17 and a one year high of $86.60. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 47.835 and a beta of 1.28. The firm’s 50-day moving average price is $72.91 and its 200-day moving average price is $70.28.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, October 26th. The semiconductor company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Power Integrations had a net margin of 13.37% and a return on equity of 12.08%. The business had revenue of $111.30 million during the quarter, compared to the consensus estimate of $111.82 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. On average, equities analysts anticipate that Power Integrations, Inc. will post $2.77 earnings per share for the current year.
In other news, VP Raja Petrakian sold 2,272 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $68.89, for a total transaction of $156,518.08. Following the completion of the sale, the vice president now owns 30,815 shares of the company’s stock, valued at approximately $2,122,845.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP David Mh Matthews sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $71.22, for a total transaction of $71,220.00. Following the sale, the vice president now directly owns 43,405 shares of the company’s stock, valued at approximately $3,091,304.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,593 shares of company stock valued at $250,457. 4.30% of the stock is currently owned by insiders.
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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.
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