Robecosam AG decreased its holdings in shares of Power Integrations Inc (NASDAQ:POWI) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 190,000 shares of the semiconductor company’s stock after selling 5,000 shares during the quarter. Robecosam AG owned 0.64% of Power Integrations worth $14,079,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jane Street Group LLC bought a new position in shares of Power Integrations during the third quarter valued at approximately $205,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Power Integrations during the third quarter valued at approximately $288,000. Stone Ridge Asset Management LLC bought a new position in shares of Power Integrations during the fourth quarter valued at approximately $307,000. Koch Industries Inc. bought a new position in shares of Power Integrations during the fourth quarter valued at approximately $310,000. Finally, Stephens Inc. AR grew its stake in shares of Power Integrations by 23.7% during the third quarter. Stephens Inc. AR now owns 5,346 shares of the semiconductor company’s stock valued at $391,000 after buying an additional 1,023 shares during the last quarter. 96.28% of the stock is currently owned by hedge funds and other institutional investors.
Power Integrations Inc (NASDAQ:POWI) opened at $72.00 on Monday. Power Integrations Inc has a 52 week low of $60.55 and a 52 week high of $86.60. The stock has a market capitalization of $2,148.09, a P/E ratio of 80.00 and a beta of 1.23.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, February 28th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.64 annualized dividend and a yield of 0.89%. This is a boost from Power Integrations’s previous quarterly dividend of $0.14. Power Integrations’s dividend payout ratio is 71.11%.
Power Integrations announced that its board has authorized a share repurchase program on Thursday, February 1st that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of research firms have recently commented on POWI. BidaskClub raised Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research cut Power Integrations from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 8th. Sidoti cut Power Integrations from a “buy” rating to a “neutral” rating in a research note on Friday, February 2nd. Finally, Susquehanna Bancshares assumed coverage on Power Integrations in a research note on Wednesday, December 13th. They issued a “neutral” rating and a $80.00 price objective on the stock. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Power Integrations presently has a consensus rating of “Hold” and an average target price of $81.40.
In related news, insider Balu Balakrishnan sold 9,488 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $77.36, for a total value of $733,991.68. Following the transaction, the insider now owns 262,977 shares of the company’s stock, valued at $20,343,900.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Nayyar sold 2,022 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $77.50, for a total value of $156,705.00. Following the sale, the chief financial officer now owns 58,522 shares of the company’s stock, valued at approximately $4,535,455. The disclosure for this sale can be found here. In the last three months, insiders sold 62,235 shares of company stock worth $4,234,629. 4.30% of the stock is owned by insiders.
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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.
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