Power Integrations Inc (NASDAQ:POWI) CFO Sandeep Nayyar sold 920 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $66.39, for a total value of $61,078.80. Following the completion of the transaction, the chief financial officer now directly owns 65,345 shares of the company’s stock, valued at $4,338,254.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Sandeep Nayyar also recently made the following trade(s):
- On Monday, January 29th, Sandeep Nayyar sold 2,022 shares of Power Integrations stock. The shares were sold at an average price of $77.50, for a total value of $156,705.00.
Shares of Power Integrations Inc (POWI) opened at $62.60 on Friday. Power Integrations Inc has a twelve month low of $60.55 and a twelve month high of $86.60. The stock has a market capitalization of $1,855.81, a PE ratio of 69.56 and a beta of 1.17.
Power Integrations announced that its board has initiated a stock repurchase program on Thursday, February 1st that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Tuesday, February 27th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.14. Power Integrations’s dividend payout ratio is presently 62.22%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. raised its holdings in Power Integrations by 14.5% during the second quarter. Advisor Group Inc. now owns 1,827 shares of the semiconductor company’s stock worth $132,000 after acquiring an additional 231 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in Power Integrations by 6.3% during the second quarter. Ameritas Investment Partners Inc. now owns 2,519 shares of the semiconductor company’s stock worth $184,000 after acquiring an additional 150 shares in the last quarter. Jane Street Group LLC bought a new stake in Power Integrations during the third quarter worth about $205,000. GSA Capital Partners LLP bought a new stake in Power Integrations during the second quarter worth about $208,000. Finally, Shelton Capital Management bought a new stake in Power Integrations during the second quarter worth about $213,000. Institutional investors and hedge funds own 96.82% of the company’s stock.
A number of research analysts have issued reports on the company. Zacks Investment Research raised Power Integrations from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Wednesday, November 1st. Susquehanna Bancshares started coverage on Power Integrations in a report on Wednesday, December 13th. They issued a “neutral” rating and a $80.00 price target on the stock. They noted that the move was a valuation call. BidaskClub lowered Power Integrations from a “sell” rating to a “strong sell” rating in a report on Wednesday. Drexel Hamilton restated a “buy” rating and issued a $84.00 price target on shares of Power Integrations in a report on Friday, October 27th. Finally, Sidoti lowered Power Integrations from a “buy” rating to a “neutral” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $81.40.
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Power Integrations Company 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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