Power Integrations, Inc. (NASDAQ:POWI) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 1.8% in the fourth quarter, Holdings Channel reports. The firm owned 1,604,230 shares of the semiconductor company’s stock after buying an additional 28,793 shares during the quarter. Geode Capital Management LLC’s holdings in Power Integrations were worth $99,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Power Integrations by 4.5% in the fourth quarter. Wellington Management Group LLP now owns 2,445,362 shares of the semiconductor company’s stock valued at $150,879,000 after purchasing an additional 105,034 shares during the period. California Public Employees Retirement System lifted its position in Power Integrations by 6.0% during the fourth quarter. California Public Employees Retirement System now owns 101,398 shares of the semiconductor company’s stock worth $6,256,000 after buying an additional 5,716 shares during the period. Pictet Asset Management Holding SA lifted its position in Power Integrations by 28.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 8,754 shares of the semiconductor company’s stock worth $540,000 after buying an additional 1,921 shares during the period. Norges Bank purchased a new position in Power Integrations during the fourth quarter worth about $19,663,000. Finally, JPMorgan Chase & Co. increased its stake in Power Integrations by 10.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,920,459 shares of the semiconductor company’s stock worth $118,492,000 after acquiring an additional 178,896 shares during the last quarter.

Insiders Place Their Bets

In related news, CEO Balu Balakrishnan sold 12,507 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $60.64, for a total value of $758,424.48. Following the completion of the sale, the chief executive officer now directly owns 600,002 shares in the company, valued at approximately $36,384,121.28. This trade represents a 2.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Clifford Walker sold 2,472 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $60.75, for a total transaction of $150,174.00. Following the completion of the transaction, the vice president now directly owns 142,145 shares in the company, valued at approximately $8,635,308.75. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,105 shares of company stock valued at $3,075,198. 1.50% of the stock is currently owned by corporate insiders.

Power Integrations Stock Up 14.7 %

Shares of Power Integrations stock opened at $48.33 on Thursday. The stock has a market cap of $2.75 billion, a PE ratio of 84.79, a price-to-earnings-growth ratio of 4.08 and a beta of 1.32. The business has a fifty day simple moving average of $56.72 and a 200-day simple moving average of $60.85. Power Integrations, Inc. has a 12 month low of $40.78 and a 12 month high of $79.13.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.12). Power Integrations had a return on equity of 4.48% and a net margin of 7.69%. Analysts expect that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Friday, February 28th. Power Integrations’s dividend payout ratio is 147.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Benchmark restated a “buy” rating and set a $78.00 price target on shares of Power Integrations in a research note on Friday, February 7th. StockNews.com downgraded Power Integrations from a “buy” rating to a “hold” rating in a report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.00.

Power Integrations Profile

Power Integrations, Inc designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company provides a range of alternating current to direct current power conversion products that address power supply ranging from less than one watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, LED lighting, and various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.