Rhumbline Advisers Boosts Stake in Power Integrations Inc (NASDAQ:POWI)
Rhumbline Advisers raised its holdings in Power Integrations Inc (NASDAQ:POWI) by 1.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,644 shares of the semiconductor company’s stock after purchasing an additional 1,733 shares during the quarter. Rhumbline Advisers owned 0.32% of Power Integrations worth $8,360,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of POWI. Great Diamond Partners LLC purchased a new stake in Power Integrations in the fourth quarter valued at $41,000. Cognios Capital LLC purchased a new stake in shares of Power Integrations in the 1st quarter valued at $69,000. Guinness Atkinson Asset Management Inc purchased a new stake in shares of Power Integrations in the 4th quarter valued at $75,000. NEXT Financial Group Inc purchased a new stake in shares of Power Integrations in the 4th quarter valued at $79,000. Finally, Robecosam AG raised its holdings in shares of Power Integrations by 9.7% in the 4th quarter. Robecosam AG now owns 566,000 shares of the semiconductor company’s stock valued at $99,000 after buying an additional 50,000 shares during the period. Institutional investors own 95.04% of the company’s stock.
POWI has been the topic of several research analyst reports. BidaskClub upgraded Power Integrations from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. Stifel Nicolaus boosted their price objective on Power Integrations from $105.00 to $119.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Deutsche Bank boosted their price objective on Power Integrations from $90.00 to $93.00 and gave the company a “hold” rating in a report on Friday, May 8th. Loop Capital reiterated a “buy” rating and issued a $117.00 price objective on shares of Power Integrations in a report on Monday, May 18th. Finally, Zacks Investment Research upgraded Power Integrations from a “sell” rating to a “hold” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $102.20.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.10. Power Integrations had a return on equity of 9.81% and a net margin of 45.82%. The company had revenue of $109.70 million for the quarter, compared to the consensus estimate of $106.74 million. During the same quarter in the prior year, the business earned $0.41 EPS. Power Integrations’s revenue was up 23.3% on a year-over-year basis. Analysts anticipate that Power Integrations Inc will post 1.94 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.21 per share. This is an increase from Power Integrations’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, May 28th. This represents a $0.84 annualized dividend and a yield of 0.78%. Power Integrations’s dividend payout ratio is 42.70%.
In other news, VP Clifford Walker sold 753 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $81.33, for a total transaction of $61,241.49. Following the completion of the transaction, the vice president now directly owns 61,775 shares of the company’s stock, valued at approximately $5,024,160.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Balu Balakrishnan sold 4,569 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $83.46, for a total value of $381,328.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,170 shares of company stock valued at $7,189,086. Insiders own 2.10% of the company’s stock.
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 worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, and other consumer and industrial applications, as well as light-emitting diode lighting.
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