Trade Report: The Power Integrations Inc. (POWI) Posts Earnings Results, Beats Estimates By $0.10 EPS

The Power Integrations Inc. (POWI) Posts  Earnings Results, Beats Estimates By $0.10 EPS

Power Integrations Inc. (NASDAQ:POWI) announced its earnings results on Thursday. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.10. Power Integrations had a return on equity of 11.90% and a net margin of 12.57%. The firm earned $103.79 million during the quarter, compared to the consensus estimate of $99 million. During the same quarter in the prior year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year.

Power Integrations (NASDAQ:POWI) opened at 64.15 on Monday. The firm has a market capitalization of $1.86 billion, a PE ratio of 40.30 and a beta of 1.13. The stock has a 50 day moving average price of $61.90 and a 200-day moving average price of $54.54. Power Integrations has a one year low of $39.53 and a one year high of $65.10.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.81%. Power Integrations’s payout ratio is presently 32.50%.

In related news, insider Balu Balakrishnan sold 5,000 shares of Power Integrations stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $56.10, for a total value of $280,500.00. Following the completion of the transaction, the insider now directly owns 210,730 shares in the company, valued at approximately $11,821,953. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Bickell sold 4,000 shares of Power Integrations stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $58.39, for a total transaction of $233,560.00. Following the completion of the transaction, the director now owns 14,534 shares of the company’s stock, valued at $848,640.26. The disclosure for this sale can be found here. Insiders own 5.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC raised its position in Power Integrations by 0.4% in the second quarter. Profund Advisors LLC now owns 5,905 shares of the company’s stock worth $296,000 after buying an additional 23 shares in the last quarter. Eqis Capital Management Inc. raised its position in Power Integrations by 0.9% in the third quarter. Eqis Capital Management Inc. now owns 5,865 shares of the company’s stock worth $370,000 after buying an additional 55 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Power Integrations by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock worth $641,000 after buying an additional 100 shares in the last quarter. Suntrust Banks Inc. raised its position in Power Integrations by 2.2% in the second quarter. Suntrust Banks Inc. now owns 4,959 shares of the company’s stock worth $247,000 after buying an additional 107 shares in the last quarter. Finally, PineBridge Investments L.P. raised its position in Power Integrations by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,653 shares of the company’s stock worth $183,000 after buying an additional 144 shares in the last quarter. Institutional investors and hedge funds own 98.19% of the company’s stock.

Several analysts recently weighed in on POWI shares. Zacks Investment Research downgraded Power Integrations from a “buy” rating to a “hold” rating in a research note on Thursday, September 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $70.00 price objective (up previously from $63.00) on shares of Power Integrations in a research report on Thursday, October 13th. Finally, Deutsche Bank AG raised their price objective on Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Power Integrations has an average rating of “Buy” and an average price target of $63.75.

Power Integrations Company Profile

Related posts

Leave a Comment