Tiedemann Wealth Management LLC Increases Position in Power Integrations Inc (POWI)
Tiedemann Wealth Management LLC increased its holdings in Power Integrations Inc (NASDAQ:POWI) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,980 shares of the semiconductor company’s stock after purchasing an additional 1,351 shares during the period. Tiedemann Wealth Management LLC owned approximately 0.05% of Power Integrations worth $292,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc increased its position in Power Integrations by 9.4% in the second quarter. Legal & General Group Plc now owns 57,673 shares of the semiconductor company’s stock worth $4,204,000 after purchasing an additional 4,970 shares during the last quarter. Renaissance Group LLC increased its position in Power Integrations by 1.1% during the second quarter. Renaissance Group LLC now owns 5,278 shares of the semiconductor company’s stock valued at $385,000 after acquiring an additional 56 shares during the last quarter. Chicago Equity Partners LLC increased its position in Power Integrations by 104.1% during the second quarter. Chicago Equity Partners LLC now owns 12,520 shares of the semiconductor company’s stock valued at $913,000 after acquiring an additional 6,385 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Power Integrations during the second quarter valued at $346,000. Finally, Wells Fargo & Company MN increased its position in Power Integrations by 2.3% during the second quarter. Wells Fargo & Company MN now owns 115,446 shares of the semiconductor company’s stock valued at $8,416,000 after acquiring an additional 2,624 shares during the last quarter. Institutional investors own 97.55% of the company’s stock.
Power Integrations Inc (NASDAQ POWI) opened at $77.60 on Friday. Power Integrations Inc has a 1 year low of $61.44 and a 1 year high of $86.60. The firm has a market cap of $2,332.77, a price-to-earnings ratio of 37.38 and a beta of 1.27.
Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.05. The business had revenue of $111.30 million for the quarter, compared to analysts’ expectations of $111.82 million. Power Integrations had a net margin of 13.69% and a return on equity of 11.95%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 earnings per share. equities analysts expect that Power Integrations Inc will post 2.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Wednesday, November 29th. Power Integrations’s payout ratio is presently 29.02%.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Wednesday, November 1st. Drexel Hamilton reiterated a “buy” rating and set a $84.00 price objective on shares of Power Integrations in a research report on Friday, October 27th. Stifel Nicolaus reiterated a “buy” rating on shares of Power Integrations in a research report on Wednesday, September 13th. Finally, BidaskClub cut shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $83.50.
In other news, VP David Mh Matthews sold 704 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $78.33, for a total value of $55,144.32. Following the transaction, the vice president now directly owns 42,654 shares in the company, valued at $3,341,087.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven Sharp sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.49, for a total transaction of $794,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,089 shares of company stock worth $5,077,253. Company insiders own 4.30% of the company’s stock.
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About Power Integrations
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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