Cubist Systematic Strategies LLC acquired a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 4,753 shares of the semiconductor company’s stock, valued at approximately $346,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in POWI. Jennison Associates LLC grew its stake in shares of Power Integrations by 0.4% in the 2nd quarter. Jennison Associates LLC now owns 5,424 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 23 shares during the period. Renaissance Group LLC grew its stake in shares of Power Integrations by 1.1% in the 2nd quarter. Renaissance Group LLC now owns 5,278 shares of the semiconductor company’s stock valued at $385,000 after buying an additional 56 shares during the period. Pinebridge Investments L.P. grew its stake in shares of Power Integrations by 2.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,912 shares of the semiconductor company’s stock valued at $285,000 after buying an additional 75 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Power Integrations by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the semiconductor company’s stock valued at $882,000 after buying an additional 100 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of Power Integrations by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 15,474 shares of the semiconductor company’s stock valued at $1,128,000 after buying an additional 100 shares during the period. 98.01% of the stock is owned by institutional investors.
POWI has been the topic of several recent analyst reports. BidaskClub upgraded shares of Power Integrations from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Stifel Nicolaus restated a “buy” rating and issued a $85.00 price objective on shares of Power Integrations in a report on Sunday, September 3rd. Drexel Hamilton set a $84.00 price objective on shares of Power Integrations and gave the stock a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. Finally, Deutsche Bank AG lowered shares of Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a report on Tuesday, July 25th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $83.50.
In other Power Integrations news, VP Ben Sutherland sold 500 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $79.58, for a total transaction of $39,790.00. Following the transaction, the vice president now directly owns 40,965 shares of the company’s stock, valued at approximately $3,259,994.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Balu Balakrishnan sold 51,350 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $80.71, for a total transaction of $4,144,458.50. Following the transaction, the chief executive officer now directly owns 268,226 shares in the company, valued at $21,648,520.46. The disclosure for this sale can be found here. Insiders sold a total of 55,835 shares of company stock worth $4,466,388 over the last ninety days. Insiders own 4.30% of the company’s stock.
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Shares of Power Integrations, Inc. (NASDAQ POWI) traded up $0.55 on Friday, hitting $80.20. 133,900 shares of the stock were exchanged, compared to its average volume of 174,893. Power Integrations, Inc. has a fifty-two week low of $61.44 and a fifty-two week high of $86.60. The firm has a market cap of $2,366.94, a price-to-earnings ratio of 37.93 and a beta of 1.29.
Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.05. Power Integrations had a net margin of 13.69% and a return on equity of 11.95%. The business had revenue of $111.30 million for the quarter, compared to analyst estimates of $111.82 million. During the same period last year, the business earned $0.67 EPS. The company’s revenue was up 9.5% on a year-over-year basis. analysts anticipate that Power Integrations, Inc. will post 2.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Wednesday, November 29th. Power Integrations’s dividend payout ratio (DPR) is 29.02%.
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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