Power Integrations (NASDAQ:POWI) Stock Price Up 8.4% – Here’s What Happened

Power Integrations, Inc. (NASDAQ:POWI) shares rose 8.4% on Thursday . The stock traded as high as $86.66 and last traded at $87.5450. Approximately 149,069 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,059,872 shares. The stock had previously closed at $80.73.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on POWI shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Power Integrations in a research note on Friday, May 8th. Zacks Research raised Power Integrations from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Northland Securities cut Power Integrations from an “outperform” rating to a “market perform” rating and set a $46.00 target price for the company. in a research report on Monday, April 6th. Benchmark raised their target price on Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Finally, Stifel Nicolaus raised their target price on Power Integrations from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $69.60.

Power Integrations Stock Up 7.8%

The stock has a market capitalization of $4.85 billion, a P/E ratio of 290.29, a PEG ratio of 3.45 and a beta of 1.57. The firm has a 50-day moving average of $71.55 and a 200 day moving average of $53.40.

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

Power Integrations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.0%. Power Integrations’s dividend payout ratio (DPR) is presently 286.67%.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, Director Nicholas Brathwaite sold 6,895 shares of Power Integrations stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $72.41, for a total transaction of $499,266.95. Following the completion of the transaction, the director directly owned 30,609 shares of the company’s stock, valued at approximately $2,216,397.69. This trade represents a 18.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Balu Balakrishnan sold 124,287 shares of Power Integrations stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $86.44, for a total value of $10,743,368.28. Following the transaction, the director directly 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 335,085 shares of company stock valued at $27,338,789. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Power Integrations

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG lifted its holdings in Power Integrations by 149.5% during the 4th quarter. UBS Group AG now owns 276,073 shares of the semiconductor company’s stock worth $9,812,000 after buying an additional 165,405 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Power Integrations by 248.4% during the 4th quarter. State of Alaska Department of Revenue now owns 30,924 shares of the semiconductor company’s stock worth $1,098,000 after buying an additional 22,049 shares in the last quarter. Quantbot Technologies LP lifted its holdings in Power Integrations by 48,387.7% during the 3rd quarter. Quantbot Technologies LP now owns 130,432 shares of the semiconductor company’s stock worth $5,245,000 after buying an additional 130,163 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Power Integrations by 108.7% during the 4th quarter. SG Americas Securities LLC now owns 44,351 shares of the semiconductor company’s stock worth $1,576,000 after buying an additional 23,096 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Power Integrations during the 4th quarter worth $1,072,000.

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.