Power Integrations Inc (NASDAQ:POWI) VP Doug Bailey sold 2,439 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.08, for a total transaction of $156,291.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Power Integrations Inc (NASDAQ:POWI) opened at $66.10 on Wednesday. The stock has a market cap of $1,934.77, a PE ratio of 28.44 and a beta of 1.17. Power Integrations Inc has a 52-week low of $60.55 and a 52-week high of $86.60.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The business had revenue of $108.20 million for the quarter, compared to the consensus estimate of $110.50 million. Power Integrations had a net margin of 6.39% and a return on equity of 12.70%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. equities research analysts expect that Power Integrations Inc will post 2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, February 28th will be given a dividend of $0.16 per share. This is an increase from Power Integrations’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.64 annualized dividend and a yield of 0.97%. Power Integrations’s dividend payout ratio is 62.22%.
Power Integrations declared that its Board of Directors has initiated a stock buyback program on Thursday, February 1st that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
Several research firms have recently weighed in on POWI. Zacks Investment Research lowered shares of Power Integrations from a “hold” rating to a “strong sell” rating in a report on Thursday, February 8th. BidaskClub lowered shares of Power Integrations from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 7th. Sidoti lowered shares of Power Integrations from a “buy” rating to a “neutral” rating in a report on Friday, February 2nd. Susquehanna Bancshares began coverage on shares of Power Integrations in a report on Wednesday, December 13th. They issued a “neutral” rating and a $80.00 target price on the stock. They noted that the move was a valuation call. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $84.00 target price on shares of Power Integrations in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Power Integrations has an average rating of “Hold” and a consensus target price of $81.40.
A number of hedge funds and other institutional investors have recently modified their holdings of POWI. Advisor Group Inc. lifted its position in Power Integrations by 14.5% during the 2nd quarter. Advisor Group Inc. now owns 1,827 shares of the semiconductor company’s stock worth $132,000 after buying an additional 231 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position 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 worth $184,000 after buying an additional 150 shares in the last quarter. Jane Street Group LLC acquired a new position in Power Integrations during the 3rd quarter worth about $205,000. GSA Capital Partners LLP acquired a new position in Power Integrations during the 2nd quarter worth about $208,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Power Integrations during the 3rd quarter worth about $288,000. Institutional investors and hedge funds own 95.53% of the company’s stock.
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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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