Power Integrations, Inc. $POWI Shares Bought by Legal & General Group Plc

Legal & General Group Plc raised its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 32.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 145,895 shares of the semiconductor company’s stock after buying an additional 36,077 shares during the period. Legal & General Group Plc’s holdings in Power Integrations were worth $5,185,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of POWI. M&T Bank Corp grew its holdings in shares of Power Integrations by 3,635.7% during the fourth quarter. M&T Bank Corp now owns 748,555 shares of the semiconductor company’s stock worth $26,604,000 after buying an additional 728,517 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Power Integrations by 35.7% during the third quarter. Wellington Management Group LLP now owns 2,261,281 shares of the semiconductor company’s stock worth $90,926,000 after buying an additional 595,404 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Power Integrations by 843.8% during the second quarter. Squarepoint Ops LLC now owns 519,952 shares of the semiconductor company’s stock worth $29,065,000 after buying an additional 464,858 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Power Integrations by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 7,556,919 shares of the semiconductor company’s stock worth $268,573,000 after buying an additional 409,643 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Power Integrations by 66.5% during the third quarter. Bank of America Corp DE now owns 723,281 shares of the semiconductor company’s stock worth $29,083,000 after buying an additional 288,771 shares during the last quarter.

Power Integrations Price Performance

Shares of POWI stock opened at $77.02 on Monday. Power Integrations, Inc. has a 12 month low of $30.86 and a 12 month high of $89.00. The firm has a market capitalization of $4.29 billion, a P/E ratio of 256.74, a P/E/G ratio of 3.35 and a beta of 1.57. The company’s fifty day moving average price is $67.19 and its two-hundred day moving average price is $50.84.

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

Power Integrations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be given a $0.215 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.86 annualized dividend and a yield of 1.1%. Power Integrations’s dividend payout ratio is 286.67%.

Insiders Place Their Bets

In related news, VP Sunil Gupta sold 15,894 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $82.18, for a total transaction of $1,306,168.92. Following the completion of the sale, the vice president directly owned 71,239 shares of the company’s stock, valued at $5,854,421.02. This represents a 18.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Balu Balakrishnan sold 124,287 shares of the stock in a transaction that occurred on 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 sale, the director owned 279,516 shares of the company’s stock, valued at approximately $24,161,363.04. The trade was a 30.78% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 335,085 shares of company stock worth $27,338,789. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on POWI shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Power Integrations in a research report on Friday, May 8th. Northland Securities downgraded shares of Power Integrations from an “outperform” rating to a “market perform” rating and set a $46.00 price target for the company. in a research report on Monday, April 6th. Benchmark lifted their price target on shares of Power Integrations from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Finally, Zacks Research upgraded Power Integrations from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $64.50.

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.