Norges Bank purchased a new stake in Power Integrations Inc (NASDAQ:POWI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 454,423 shares of the semiconductor company’s stock, valued at approximately $27,710,000. Norges Bank owned about 1.57% of Power Integrations at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in POWI. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Power Integrations in the 4th quarter valued at about $10,055,000. Copeland Capital Management LLC increased its stake in shares of Power Integrations by 18.5% in the 4th quarter. Copeland Capital Management LLC now owns 342,619 shares of the semiconductor company’s stock valued at $20,893,000 after acquiring an additional 53,573 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Power Integrations by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 762,181 shares of the semiconductor company’s stock valued at $46,478,000 after acquiring an additional 46,081 shares during the last quarter. Fiera Capital Corp increased its stake in shares of Power Integrations by 12.6% in the 4th quarter. Fiera Capital Corp now owns 405,849 shares of the semiconductor company’s stock valued at $24,749,000 after acquiring an additional 45,487 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Power Integrations by 1.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,929,628 shares of the semiconductor company’s stock valued at $185,153,000 after acquiring an additional 37,365 shares during the last quarter. 99.37% of the stock is owned by institutional investors.
In other Power Integrations news, insider Balu Balakrishnan sold 4,718 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $70.79, for a total transaction of $333,987.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Nayyar sold 943 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $70.93, for a total value of $66,886.99. Following the transaction, the chief financial officer now directly owns 82,518 shares of the company’s stock, valued at approximately $5,853,001.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,251 shares of company stock valued at $5,639,290. 4.10% of the stock is owned by company insiders.
NASDAQ POWI opened at $77.22 on Friday. Power Integrations Inc has a 52-week low of $47.35 and a 52-week high of $80.50. The company has a market cap of $2.24 billion, a P/E ratio of 36.08 and a beta of 1.05.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, February 7th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.24. Power Integrations had a return on equity of 12.19% and a net margin of 16.83%. The business had revenue of $93.30 million during the quarter, compared to analysts’ expectations of $97.12 million. During the same period in the prior year, the business earned $0.74 EPS. Power Integrations’s revenue for the quarter was down 13.8% compared to the same quarter last year. On average, analysts anticipate that Power Integrations Inc will post 1.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 28th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.88%. This is a boost from Power Integrations’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, February 27th. Power Integrations’s dividend payout ratio is presently 31.78%.
A number of research firms recently issued reports on POWI. Zacks Investment Research raised Power Integrations from a “sell” rating to a “hold” rating in a research note on Friday, December 28th. BidaskClub raised Power Integrations from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 14th. Northland Securities reissued a “hold” rating and set a $52.00 target price on shares of Power Integrations in a research note on Wednesday, March 27th. Finally, ValuEngine raised Power Integrations from a “hold” rating to a “buy” rating in a research note on Friday, January 25th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Power Integrations presently has an average rating of “Buy” and an average target price of $75.00.
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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 worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, and other consumer and industrial applications, as well as light-emitting diode lighting.
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