Granahan Investment Management Inc. MA raised its holdings in shares of Power Integrations Inc (NASDAQ:POWI) by 63.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,873 shares of the semiconductor company’s stock after acquiring an additional 37,639 shares during the quarter. Granahan Investment Management Inc. MA owned about 0.33% of Power Integrations worth $7,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of POWI. Advisor Group Inc. raised its holdings in Power Integrations by 14.5% during the 2nd 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 during the period. Riverhead Capital Management LLC raised its holdings in Power Integrations by 71.2% during the 2nd 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 during the period. Turner Investments LLC bought a new stake in Power Integrations during the 2nd quarter valued at $182,000. Ameritas Investment Partners Inc. raised its holdings in Power Integrations by 6.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,519 shares of the semiconductor company’s stock valued at $184,000 after acquiring an additional 150 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Power Integrations by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,601 shares of the semiconductor company’s stock valued at $190,000 after acquiring an additional 391 shares during the period. 97.51% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Power Integrations from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Wednesday, November 1st. Drexel Hamilton restated a “buy” rating and set a $84.00 price target on shares of Power Integrations in a research report on Friday, October 27th. BidaskClub lowered shares of Power Integrations from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Power Integrations in a research report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Power Integrations has an average rating of “Buy” and a consensus target price of $83.50.
Power Integrations Inc (POWI) opened at $73.85 on Tuesday. Power Integrations Inc has a 1 year low of $61.44 and a 1 year high of $86.60. The stock has a market cap of $2,200.53, a price-to-earnings ratio of 35.26 and a beta of 1.26.
Power Integrations (NASDAQ:POWI) last announced its earnings results on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $111.30 million during the quarter, compared to analyst estimates of $111.82 million. During the same period in the previous year, the business earned $0.67 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. analysts expect that Power Integrations Inc will post 2.06 EPS 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. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.56 annualized dividend and a yield of 0.76%. Power Integrations’s dividend payout ratio (DPR) is presently 29.02%.
In other Power Integrations news, VP Ben Sutherland sold 500 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $79.58, for a total value of $39,790.00. Following the completion of the sale, the vice president now directly owns 40,965 shares of the company’s stock, valued at $3,259,994.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Mh Matthews sold 704 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $78.33, for a total transaction of $55,144.32. Following the completion of the sale, the vice president now directly owns 42,654 shares of the company’s stock, valued at $3,341,087.82. The disclosure for this sale can be found here. Insiders sold 63,089 shares of company stock valued at $5,077,253 over the last quarter. 4.30% of the stock is owned by company insiders.
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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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