Heritage Wealth Management LLC Purchases New Stake in Power Integrations, Inc. (NASDAQ:POWI)

Heritage Wealth Management LLC bought a new position in Power Integrations, Inc. (NASDAQ:POWI) in the 4th quarter, HoldingsChannel reports. The fund bought 2,483 shares of the semiconductor company’s stock, valued at approximately $204,000.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC acquired a new position in Power Integrations in the fourth quarter valued at $26,000. Itau Unibanco Holding S.A. bought a new position in shares of Power Integrations in the third quarter worth approximately $65,000. Headlands Technologies LLC increased its holdings in Power Integrations by 374.6% during the third quarter. Headlands Technologies LLC now owns 1,082 shares of the semiconductor company’s stock valued at $83,000 after buying an additional 854 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Power Integrations by 16.8% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,166 shares of the semiconductor company’s stock worth $89,000 after purchasing an additional 168 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Power Integrations by 17.4% during the third quarter. Signaturefd LLC now owns 1,421 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 211 shares during the last quarter.

Insiders Place Their Bets

In other news, CEO Balu Balakrishnan sold 9,799 shares of Power Integrations stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $68.61, for a total transaction of $672,309.39. Following the transaction, the chief executive officer now owns 552,161 shares in the company, valued at approximately $37,883,766.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Clifford Walker sold 1,096 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $69.04, for a total value of $75,667.84. Following the sale, the vice president now directly owns 140,834 shares of the company’s stock, valued at $9,723,179.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Balu Balakrishnan sold 9,799 shares of Power Integrations stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $68.61, for a total transaction of $672,309.39. Following the completion of the transaction, the chief executive officer now directly owns 552,161 shares of the company’s stock, valued at approximately $37,883,766.21. The disclosure for this sale can be found here. Insiders have sold a total of 57,411 shares of company stock worth $4,203,262 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Benchmark increased their target price on Power Integrations from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 9th. TD Cowen raised their target price on Power Integrations from $65.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, February 9th. Finally, Northland Securities raised Power Integrations from an “under perform” rating to a “market perform” rating and set a $67.00 price target for the company in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.17.

Power Integrations Stock Down 0.5 %

Power Integrations stock traded down $0.33 during mid-day trading on Friday, hitting $67.64. The company had a trading volume of 135,369 shares, compared to its average volume of 393,635. The business has a fifty day moving average of $69.54 and a 200 day moving average of $74.33. Power Integrations, Inc. has a 1 year low of $62.13 and a 1 year high of $99.60. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 70.07 and a beta of 1.20.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The company had revenue of $89.51 million during the quarter, compared to the consensus estimate of $90.21 million. Power Integrations had a return on equity of 6.46% and a net margin of 12.54%. Equities analysts anticipate that Power Integrations, Inc. will post 0.65 earnings per share for the current year.

Power Integrations Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. Power Integrations’s dividend payout ratio is currently 82.47%.

About Power Integrations

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.