Capital Fund Management S.A. purchased a new stake in Power Integrations Inc. (NASDAQ:POWI) during the second quarter, Holdings Channel reports. The institutional investor purchased 10,300 shares of the company’s stock, valued at approximately $516,000.
Other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of Power Integrations by 50.8% in the first quarter. Goldman Sachs Group Inc. now owns 133,172 shares of the company’s stock worth $6,614,000 after buying an additional 44,862 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of Power Integrations by 16.8% in the first quarter. Panagora Asset Management Inc. now owns 196,930 shares of the company’s stock worth $9,779,000 after buying an additional 28,278 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Power Integrations during the first quarter worth approximately $802,000. Strs Ohio boosted its position in shares of Power Integrations by 10.8% in the second quarter. Strs Ohio now owns 102,300 shares of the company’s stock worth $5,122,000 after buying an additional 10,000 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in shares of Power Integrations by 29.8% in the first quarter. BlackRock Group LTD now owns 42,154 shares of the company’s stock worth $2,094,000 after buying an additional 9,686 shares in the last quarter. 97.78% of the stock is owned by institutional investors.
Shares of Power Integrations Inc. (NASDAQ:POWI) traded down 0.75% during mid-day trading on Wednesday, reaching $61.97. The company had a trading volume of 115,710 shares. The company’s 50-day moving average price is $60.42 and its 200-day moving average price is $53.27. Power Integrations Inc. has a 52-week low of $39.53 and a 52-week high of $64.73. The company has a market capitalization of $1.79 billion, a PE ratio of 41.20 and a beta of 1.13.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, July 28th. The company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.09. The firm had revenue of $97.20 million for the quarter, compared to the consensus estimate of $91.22 million. Power Integrations had a net margin of 12.36% and a return on equity of 11.64%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. On average, analysts forecast that Power Integrations Inc. will post $2.33 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.84%. The ex-dividend date was Monday, August 29th. Power Integrations’s payout ratio is 34.44%.
A number of brokerages have commented on POWI. Zacks Investment Research cut Power Integrations from a “buy” rating to a “hold” rating in a research note on Saturday, July 30th. Deutsche Bank AG boosted their price objective on Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Finally, Sidoti cut Power Integrations from a “buy” rating to a “neutral” rating in a research note on Thursday, June 23rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $60.40.
In other Power Integrations news, insider Balu Balakrishnan sold 5,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the sale, the insider now directly owns 210,730 shares in the company, valued at $11,590,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Doug Bailey sold 960 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $64.13, for a total transaction of $61,564.80. Following the sale, the vice president now owns 27,259 shares of the company’s stock, valued at $1,748,119.67. The disclosure for this sale can be found here. Company insiders own 5.70% of the company’s stock.
Power Integrations Company Profile
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.