Power Integrations (NASDAQ:POWI – Free Report) had its target price lifted by Benchmark from $80.00 to $90.00 in a report released on Friday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.
A number of other analysts have also recently issued reports on the stock. TD Cowen lifted their target price on shares of Power Integrations from $65.00 to $80.00 and gave the company a market perform rating in a research note on Friday. StockNews.com upgraded shares of Power Integrations from a sell rating to a hold rating in a research note on Tuesday, February 6th. Susquehanna boosted their price target on shares of Power Integrations from $80.00 to $100.00 and gave the company a positive rating in a report on Monday, December 18th. Finally, Stifel Nicolaus boosted their price target on shares of Power Integrations from $90.00 to $100.00 and gave the company a buy rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $86.17.
Power Integrations Stock Performance
Power Integrations Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, February 29th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Wednesday, February 28th. Power Integrations’s payout ratio is currently 82.47%.
Insider Buying and Selling at Power Integrations
In other news, VP Doug Bailey sold 3,273 shares of Power Integrations stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $78.43, for a total value of $256,701.39. Following the sale, the vice president now directly owns 100,896 shares in the company, valued at $7,913,273.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Power Integrations news, insider David Mh Matthews sold 6,994 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $77.69, for a total value of $543,363.86. Following the transaction, the insider now directly owns 62,200 shares in the company, valued at $4,832,318. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Doug Bailey sold 3,273 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $78.43, for a total transaction of $256,701.39. Following the completion of the transaction, the vice president now owns 100,896 shares in the company, valued at $7,913,273.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,646 shares of company stock valued at $6,281,710. 1.70% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Power Integrations
A number of institutional investors have recently modified their holdings of POWI. Morgan Stanley lifted its position in Power Integrations by 109.7% during the fourth quarter. Morgan Stanley now owns 1,024,483 shares of the semiconductor company’s stock worth $73,476,000 after purchasing an additional 535,900 shares during the period. Norges Bank bought a new stake in Power Integrations during the fourth quarter worth about $35,392,000. Capital International Investors lifted its position in Power Integrations by 250.7% during the second quarter. Capital International Investors now owns 689,494 shares of the semiconductor company’s stock worth $65,274,000 after purchasing an additional 492,905 shares during the period. Robeco Schweiz AG lifted its position in Power Integrations by 49.3% during the first quarter. Robeco Schweiz AG now owns 1,176,650 shares of the semiconductor company’s stock worth $109,052,000 after purchasing an additional 388,650 shares during the period. Finally, BlackRock Inc. lifted its position in Power Integrations by 4.5% during the second quarter. BlackRock Inc. now owns 6,996,813 shares of the semiconductor company’s stock worth $662,388,000 after purchasing an additional 299,127 shares during the period.
Power Integrations Company Profile
Power Integrations, Inc designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company provides a range of alternating current to direct current power conversion products that address power supply ranging from less than one 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, LED lighting, and various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.
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