Power Integrations Inc. (POWI) Trading Up 2.7%
Power Integrations Inc. (NASDAQ:POWI)’s share price was up 2.7% during trading on Monday . The company traded as high as $54.10 and last traded at $53.68, with a volume of 99,608 shares traded. The stock had previously closed at $52.26.
A number of equities analysts recently commented on POWI shares. Zacks Investment Research upgraded 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 research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.60.
The stock has a 50 day moving average price of $51.60 and a 200 day moving average price of $47.81. The company has a market capitalization of $1.55 billion and a PE ratio of 38.04.
Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The firm earned $85.33 million during the quarter, compared to the consensus estimate of $84.43 million. During the same quarter last year, the firm earned $0.43 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts forecast that Power Integrations Inc. will post $2.20 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Tuesday, May 31st were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $0.52 annualized dividend and a yield of 0.97%.
In related news, CEO Balu Balakrishnan sold 1,830 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $47.65, for a total value of $87,199.50. Following the completion of the sale, the chief executive officer now directly owns 208,083 shares in the company, valued at approximately $9,915,154.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Wolfgang Ademmer sold 6,191 shares of the business’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $49.54, for a total value of $306,702.14. Following the completion of the sale, the vice president now owns 13,904 shares of the company’s stock, valued at $688,804.16. The disclosure for this sale can be found here.
Other hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in 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 during the period. California State Teachers Retirement System increased its stake in Power Integrations by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 54,548 shares of the company’s stock worth $2,653,000 after buying an additional 900 shares during the last quarter. California Public Employees Retirement System increased its stake in Power Integrations by 1.0% in the fourth quarter. California Public Employees Retirement System now owns 87,000 shares of the company’s stock worth $4,231,000 after buying an additional 900 shares during the last quarter. New York State Common Retirement Fund increased its stake in 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 worth $4,966,000 after buying an additional 1,800 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Power Integrations by 43.3% in the fourth quarter. Wells Fargo & Company MN now owns 149,628 shares of the company’s stock worth $7,276,000 after buying an additional 45,208 shares during 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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