First Trust Advisors LP reduced its position in Power Integrations Inc (NASDAQ:POWI) by 20.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 44,682 shares of the semiconductor company’s stock after selling 11,711 shares during the period. First Trust Advisors LP’s holdings in Power Integrations were worth $3,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in POWI. Crossmark Global Holdings Inc. purchased a new stake in Power Integrations in the third quarter worth $410,000. Chicago Equity Partners LLC boosted its holdings in shares of Power Integrations by 16.1% in the third quarter. Chicago Equity Partners LLC now owns 14,530 shares of the semiconductor company’s stock worth $1,064,000 after acquiring an additional 2,010 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Power Integrations by 55.7% in the third quarter. BNP Paribas Arbitrage SA now owns 15,579 shares of the semiconductor company’s stock worth $1,140,000 after acquiring an additional 5,573 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Power Integrations by 9.8% in the third quarter. New York State Common Retirement Fund now owns 105,810 shares of the semiconductor company’s stock worth $7,745,000 after acquiring an additional 9,470 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in shares of Power Integrations by 49.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 12,430 shares of the semiconductor company’s stock worth $909,000 after acquiring an additional 4,120 shares during the period. 96.28% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on POWI. Zacks Investment Research raised Power Integrations from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Tuesday, December 19th. BidaskClub lowered Power Integrations from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Susquehanna Bancshares began coverage on Power Integrations in a report on Wednesday, December 13th. They issued a “neutral” rating and a $80.00 price target for the company. They noted that the move was a valuation call. Finally, Sidoti lowered Power Integrations from a “buy” rating to a “neutral” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $81.40.
Power Integrations Inc (NASDAQ POWI) opened at $71.95 on Wednesday. Power Integrations Inc has a twelve month low of $60.55 and a twelve month high of $86.60. The company has a market capitalization of $2,150.00, a price-to-earnings ratio of 33.47 and a beta of 1.23.
Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. The firm had revenue of $108.20 million during the quarter, compared to analyst estimates of $110.50 million. Power Integrations had a return on equity of 12.70% and a net margin of 6.39%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the company earned $0.67 earnings per share. equities analysts predict that Power Integrations Inc will post 2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.16 per share. This is a positive change from Power Integrations’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.64 annualized dividend and a yield of 0.89%. Power Integrations’s dividend payout ratio (DPR) is currently 29.77%.
Power Integrations announced that its board has initiated a stock buyback plan on Thursday, February 1st that allows the company to buyback $30.00 million in shares. This buyback authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
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About Power Integrations
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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