Carillon Tower Advisers Inc. Purchases Shares of 7,161 Power Integrations Inc (POWI)
Carillon Tower Advisers Inc. purchased a new position in shares of Power Integrations Inc (NASDAQ:POWI) in the fourth quarter, Holdings Channel reports. The firm purchased 7,161 shares of the semiconductor company’s stock, valued at approximately $563,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in POWI. The Manufacturers Life Insurance Company lifted its holdings in Power Integrations by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,400 shares of the semiconductor company’s stock worth $1,633,000 after buying an additional 1,046 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Power Integrations by 6.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,519 shares of the semiconductor company’s stock worth $184,000 after buying an additional 150 shares during the last quarter. First Trust Advisors LP lifted its holdings in Power Integrations by 32.7% during the 3rd quarter. First Trust Advisors LP now owns 56,393 shares of the semiconductor company’s stock worth $4,128,000 after buying an additional 13,888 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Power Integrations during the 3rd quarter worth about $410,000. Finally, Public Employees Retirement Association of Colorado lifted its holdings in Power Integrations by 7.4% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 265,500 shares of the semiconductor company’s stock worth $19,435,000 after buying an additional 18,400 shares during the last quarter. 95.53% of the stock is owned by institutional investors.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Power Integrations from a “buy” rating to a “hold” rating in a report on Saturday, December 16th. Susquehanna Bancshares assumed coverage on Power Integrations in a report on Wednesday, December 13th. They set a “neutral” rating and a $80.00 price target for the company. They noted that the move was a valuation call. BidaskClub cut Power Integrations from a “sell” rating to a “strong sell” rating in a research report on Wednesday, February 7th. Finally, Sidoti cut Power Integrations from a “buy” rating to a “neutral” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Power Integrations currently has a consensus rating of “Hold” and an average price target of $81.40.
Shares of Power Integrations Inc (POWI) opened at $68.05 on Friday. Power Integrations Inc has a 52-week low of $60.55 and a 52-week high of $86.60. The company has a market capitalization of $2,030.00, a PE ratio of 31.65 and a beta of 1.23.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, February 1st. The semiconductor company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. Power Integrations had a return on equity of 12.70% and a net margin of 6.39%. The business had revenue of $108.20 million for the quarter, compared to analysts’ expectations of $110.50 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. research analysts expect that Power Integrations Inc will post 2 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.94%. This is a boost from Power Integrations’s previous quarterly dividend of $0.14. Power Integrations’s payout ratio is 29.77%.
Power Integrations declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 1st that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Power Integrations Profile
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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