Power Integrations (NASDAQ:POWI) Stock Price Up 8.4% – Here’s What Happened

Shares of Power Integrations, Inc. (NASDAQ:POWI) were up 8.4% during trading on Thursday . The company traded as high as $86.66 and last traded at $87.5450. Approximately 149,069 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,059,872 shares. The stock had previously closed at $80.73.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on POWI shares. Susquehanna lifted their price objective on Power Integrations from $70.00 to $85.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Northland Securities lowered Power Integrations from an “outperform” rating to a “market perform” rating and set a $46.00 price objective for the company. in a research report on Monday, April 6th. Zacks Research upgraded Power Integrations from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Finally, Benchmark lifted their price objective on Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $69.60.

Power Integrations Stock Performance

The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 290.29, a price-to-earnings-growth ratio of 3.45 and a beta of 1.57. The company has a 50-day moving average price of $71.55 and a 200-day moving average price of $53.40.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $108.31 million during the quarter, compared to analyst estimates of $106.75 million. Power Integrations had a return on equity of 5.34% and a net margin of 3.72%.The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 EPS. As a group, sell-side analysts anticipate that Power Integrations, Inc. will post 0.89 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 29th. Power Integrations’s payout ratio is presently 286.67%.

Insider Transactions at Power Integrations

In other news, Director Balu Balakrishnan sold 124,287 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $86.44, for a total transaction of $10,743,368.28. Following the completion of the transaction, the director directly owned 279,516 shares in the company, valued at approximately $24,161,363.04. The trade was a 30.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nicholas Brathwaite sold 6,895 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $72.41, for a total value of $499,266.95. Following the transaction, the director owned 30,609 shares of the company’s stock, valued at $2,216,397.69. The trade was a 18.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 335,085 shares of company stock worth $27,338,789. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Power Integrations

Institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in shares of Power Integrations by 576.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 536 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Power Integrations by 125.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 814 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 453 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Power Integrations during the 4th quarter valued at about $36,000. UMB Bank n.a. lifted its holdings in shares of Power Integrations by 61.7% during the 4th quarter. UMB Bank n.a. now owns 1,074 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 410 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Power Integrations during the 4th quarter valued at about $48,000.

About Power Integrations

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.