GW&K Investment Management LLC lowered its position in shares of Power Integrations Inc (NASDAQ:POWI) by 5.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 687,627 shares of the semiconductor company’s stock after selling 40,543 shares during the period. Power Integrations makes up approximately 0.9% of GW&K Investment Management LLC’s portfolio, making the stock its 26th largest position. GW&K Investment Management LLC owned about 2.31% of Power Integrations worth $50,575,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Impax Asset Management LTD increased its holdings in shares of Power Integrations by 20.7% during the 3rd quarter. Impax Asset Management LTD now owns 839,787 shares of the semiconductor company’s stock worth $61,472,000 after buying an additional 144,088 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Power Integrations during the 2nd quarter worth approximately $346,000. Eagle Asset Management Inc. increased its holdings in shares of Power Integrations by 30.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 263,100 shares of the semiconductor company’s stock worth $19,324,000 after buying an additional 61,686 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in shares of Power Integrations during the 3rd quarter worth approximately $3,660,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Power Integrations by 2.3% during the 2nd quarter. Wells Fargo & Company MN now owns 115,446 shares of the semiconductor company’s stock worth $8,416,000 after buying an additional 2,624 shares during the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.
In related news, CEO Balu Balakrishnan sold 51,350 shares of Power Integrations stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $80.71, for a total value of $4,144,458.50. Following the completion of the sale, the chief executive officer now owns 268,226 shares in the company, valued at approximately $21,648,520.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Mh Matthews sold 704 shares of Power Integrations stock in a transaction that occurred on Thursday, November 30th. The shares were 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 owns 42,654 shares of the company’s stock, valued at approximately $3,341,087.82. The disclosure for this sale can be found here. Insiders sold a total of 63,089 shares of company stock valued at $5,077,253 in the last quarter. 4.30% of the stock is owned by insiders.
Power Integrations Inc (POWI) traded down $0.20 during trading on Friday, reaching $77.25. 132,374 shares of the company traded hands, compared to its average volume of 81,331. Power Integrations Inc has a 12-month low of $61.44 and a 12-month high of $86.60. The firm has a market cap of $2,300.00, a P/E ratio of 40.23 and a beta of 1.27.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $111.30 million during the quarter, compared to the consensus estimate of $111.82 million. During the same quarter last year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. analysts predict that Power Integrations Inc will post 2.06 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Thursday, November 30th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.56 annualized dividend and a yield of 0.72%. Power Integrations’s dividend payout ratio (DPR) is presently 29.17%.
A number of brokerages have recently issued reports on POWI. Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “buy” rating and set a $90.00 price target for the company 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 report on Friday, October 27th. BidaskClub downgraded shares of Power Integrations from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Susquehanna Bancshares began coverage on shares of Power Integrations in a report on Wednesday, December 13th. They set a “neutral” rating and a $80.00 price target for the company. They noted that the move was a valuation call. Finally, Stifel Nicolaus restated a “buy” rating and set a $85.00 price target on shares of Power Integrations in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $81.40.
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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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