Power Integrations Inc. (NASDAQ:POWI) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $55.36 and last traded at $55.32, with a volume of 74,566 shares traded. The stock had previously closed at $53.75.

POWI has been the topic of several recent research reports. Zacks Investment Research raised Power Integrations from a “sell” rating to a “hold” rating in a report on Wednesday, April 13th. Sidoti downgraded Power Integrations from a “buy” rating to a “neutral” rating in a report on Thursday, June 23rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $56.60.

The firm has a 50-day moving average of $51.60 and a 200-day moving average of $47.81. The firm has a market capitalization of $1.57 billion and a PE ratio of 38.67.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Thursday, April 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The company earned $85.33 million during the quarter, compared to analysts’ expectations of $84.43 million. During the same quarter in the prior year, the business posted $0.43 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts predict that Power Integrations Inc. will post $2.20 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Tuesday, May 31st were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.95%. The ex-dividend date was Thursday, May 26th.

In other news, CEO Balu Balakrishnan sold 1,830 shares of Power Integrations stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $47.65, for a total transaction of $87,199.50. Following the transaction, the chief executive officer now owns 208,083 shares in the company, valued at approximately $9,915,154.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Raja Petrakian sold 1,103 shares of Power Integrations stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $46.81, for a total transaction of $51,631.43. Following the transaction, the vice president now owns 20,328 shares in the company, valued at approximately $951,553.68. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Power Integrations by 5.4% in the fourth quarter. Rhumbline Advisers now owns 40,661 shares of the company’s stock valued at $1,977,000 after buying an additional 2,085 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Power Integrations by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 54,548 shares of the company’s stock valued at $2,653,000 after buying an additional 900 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Power Integrations by 1.0% in the fourth quarter. California Public Employees Retirement System now owns 87,000 shares of the company’s stock valued at $4,231,000 after buying an additional 900 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Power Integrations by 1.8% in the fourth quarter. New York State Common Retirement Fund now owns 102,115 shares of the company’s stock valued at $4,966,000 after buying an additional 1,800 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Power Integrations by 43.3% in the fourth quarter. Wells Fargo & Company MN now owns 149,628 shares of the company’s stock valued at $7,276,000 after buying an additional 45,208 shares in the last quarter.

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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