Power Integrations Inc. (POWI) Reaches New 1-Year High at $55.84
Power Integrations Inc. (NASDAQ:POWI) hit a new 52-week high on Tuesday . The company traded as high as $55.84 and last traded at $55.06, with a volume of 28,298 shares changing hands. The stock had previously closed at $54.69.
POWI has been the subject of a number of research analyst reports. Sidoti downgraded Power Integrations from a “buy” rating to a “neutral” rating in a report on Thursday, June 23rd. Zacks Investment Research upgraded Power Integrations from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Wednesday, July 20th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Power Integrations has an average rating of “Buy” and a consensus price target of $56.60.
The company has a market capitalization of $1.60 billion and a PE ratio of 39.4376. The company has a 50-day moving average price of $52.36 and a 200 day moving average price of $48.19.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Tuesday, May 31st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, May 26th.
In related news, CEO Balu Balakrishnan sold 1,830 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $47.65, for a total transaction of $87,199.50. Following the completion of the sale, 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 SEC, which is available through the SEC website. Also, VP Doug Bailey sold 500 shares of the stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $51.25, for a total value of $25,625.00. Following the sale, the vice president now owns 27,719 shares of the company’s stock, valued at approximately $1,420,598.75. The disclosure for this sale can be found here.
Other hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake 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 worth $7,276,000 after buying an additional 45,208 shares in the last quarter. State of Wisconsin Investment Board increased its stake in shares of 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 in the last quarter. Stephens Investment Management Group LLC increased its stake in shares of 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 in the last quarter. Principal Financial Group Inc. increased its stake in shares of 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 in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Power Integrations by 5.4% in the fourth quarter. Rhumbline Advisers now owns 40,661 shares of the company’s stock worth $1,977,000 after buying an additional 2,085 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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