Power Integrations Inc. (POWI) Sets New 1-Year High at $55.36
Power Integrations Inc. (NASDAQ:POWI) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $55.36 and last traded at $55.32, with a volume of 74,566 shares changing hands. The stock had previously closed at $53.75.
A number of analysts recently issued reports on POWI shares. Sidoti cut Power Integrations from a “buy” rating to a “neutral” rating in a research report on Thursday, June 23rd. Zacks Investment Research raised Power Integrations from a “sell” rating to a “hold” rating in a research report on Wednesday, April 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $56.60.
The firm has a market cap of $1.56 billion and a price-to-earnings ratio of 38.29. The stock has a 50 day moving average of $51.84 and a 200-day moving average of $47.90.
Power Integrations (NASDAQ:POWI) last released its earnings results on Thursday, April 28th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. During the same quarter last year, the company earned $0.43 earnings per share. The firm earned $85.33 million during the quarter, compared to analyst estimates of $84.43 million. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts expect that Power Integrations Inc. will post $2.20 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $0.52 dividend on an annualized basis and a yield of 0.96%.
In other Power Integrations news, VP Raja Petrakian sold 1,103 shares of the company’s stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $46.81, for a total value of $51,631.43. Following the completion of the sale, the vice president now directly owns 20,328 shares in the company, valued at $951,553.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Balu Balakrishnan sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the sale, the chief executive officer now owns 210,730 shares of the company’s stock, valued at $11,590,150. The disclosure for this sale can be found here.
A number of large investors have recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC increased its stake in Power Integrations by 1.3% in the fourth quarter. Stephens Investment Management Group LLC now owns 559,591 shares of the company’s stock worth $27,213,000 after buying an additional 7,435 shares during the period. Principal Financial Group Inc. increased its stake in Power Integrations by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 187,126 shares of the company’s stock worth $9,100,000 after buying an additional 3,970 shares during the period. 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 period. State of Wisconsin Investment Board increased its stake in Power Integrations by 3.3% in the fourth quarter. State of Wisconsin Investment Board now owns 241,649 shares of the company’s stock worth $11,751,000 after buying an additional 7,779 shares during the period. Finally, 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 period.
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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