Power Integrations (NASDAQ:POWI) Sets New 52-Week High – Here’s What Happened

Power Integrations, Inc. (NASDAQ:POWI)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $90.74 and last traded at $90.20, with a volume of 64534 shares trading hands. The stock had previously closed at $87.11.

Analyst Ratings Changes

A number of research firms have commented on POWI. Zacks Research upgraded shares of Power Integrations from a “strong sell” rating to a “hold” rating in a report on Thursday, February 26th. Needham & Company LLC assumed coverage on shares of Power Integrations in a report on Wednesday, June 10th. They set a “buy” rating and a $90.00 price objective on the stock. Stifel Nicolaus raised their target price on Power Integrations from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Benchmark boosted their target price on Power Integrations from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Power Integrations in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Power Integrations currently has a consensus rating of “Hold” and a consensus target price of $69.60.

Power Integrations Stock Performance

The firm has a market cap of $4.49 billion, a P/E ratio of 268.58, a price-to-earnings-growth ratio of 3.80 and a beta of 1.57. The stock’s 50 day simple moving average is $74.10 and its 200 day simple moving average is $54.84.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The firm had revenue of $108.31 million for the quarter, compared to the consensus estimate of $106.75 million. Power Integrations had a net margin of 3.72% and a return on equity of 5.34%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, analysts forecast that Power Integrations, Inc. will post 0.89 EPS for the current fiscal year.

Power Integrations Dividend Announcement

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

Insider Buying and Selling at Power Integrations

In other Power Integrations news, VP Sunil Gupta sold 15,894 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was 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 approximately $5,854,421.02. The trade was a 18.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $10,743,368.28. Following the completion of the sale, the director directly owned 279,516 shares of the company’s stock, valued at approximately $24,161,363.04. This trade represents a 30.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 335,085 shares of company stock worth $27,338,789. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Power Integrations

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Covestor Ltd increased its holdings in Power Integrations by 13.8% in the 4th quarter. Covestor Ltd now owns 2,064 shares of the semiconductor company’s stock worth $73,000 after buying an additional 251 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Power Integrations by 5.4% during the 1st quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company’s stock valued at $255,000 after acquiring an additional 261 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Power Integrations by 2.7% during the 4th quarter. Cetera Investment Advisers now owns 12,972 shares of the semiconductor company’s stock valued at $461,000 after acquiring an additional 340 shares during the last quarter. First National Bank of Omaha boosted its holdings in shares of Power Integrations by 0.8% during the 4th quarter. First National Bank of Omaha now owns 46,047 shares of the semiconductor company’s stock valued at $1,637,000 after acquiring an additional 366 shares during the last quarter. Finally, Orion Porfolio Solutions LLC boosted its holdings in shares of Power Integrations by 3.0% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,531 shares of the semiconductor company’s stock valued at $756,000 after acquiring an additional 389 shares during the last quarter.

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.