First Trust Advisors LP lowered its position in Power Integrations Inc (NASDAQ:POWI) by 20.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,682 shares of the semiconductor company’s stock after selling 11,711 shares during the period. First Trust Advisors LP owned 0.15% of Power Integrations worth $3,286,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in POWI. Impax Asset Management LTD lifted its holdings in shares of Power Integrations by 20.7% in the third quarter. Impax Asset Management LTD now owns 839,787 shares of the semiconductor company’s stock valued at $61,472,000 after purchasing an additional 144,088 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Power Integrations by 4.6% in the third quarter. Neuberger Berman Group LLC now owns 2,925,039 shares of the semiconductor company’s stock valued at $214,113,000 after purchasing an additional 128,790 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Power Integrations by 539.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,340 shares of the semiconductor company’s stock valued at $9,980,000 after purchasing an additional 115,018 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Power Integrations by 30.6% in the third quarter. Eagle Asset Management Inc. now owns 263,100 shares of the semiconductor company’s stock valued at $19,324,000 after purchasing an additional 61,686 shares in the last quarter. Finally, Robecosam AG lifted its holdings in shares of Power Integrations by 30.0% in the third quarter. Robecosam AG now owns 195,000 shares of the semiconductor company’s stock valued at $14,352,000 after purchasing an additional 45,000 shares in the last quarter. Institutional investors and hedge funds own 96.28% of the company’s stock.
Shares of Power Integrations Inc (POWI) opened at $71.95 on Wednesday. The company has a market capitalization of $2,150.00, a P/E ratio of 33.47 and a beta of 1.23. Power Integrations Inc has a 52-week low of $60.55 and a 52-week high of $86.60.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, February 28th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.89%. This is an increase from Power Integrations’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Tuesday, February 27th. Power Integrations’s dividend payout ratio (DPR) is presently 29.77%.
Power Integrations announced that its Board of Directors has approved a share buyback plan on Thursday, February 1st that allows the company to buyback $30.00 million in shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Power Integrations from a “buy” rating to a “hold” rating in a report on Saturday, December 16th. Susquehanna Bancshares assumed coverage on Power Integrations in a report on Wednesday, December 13th. They issued a “neutral” rating and a $80.00 target price on the stock. They noted that the move was a valuation call. BidaskClub lowered Power Integrations from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 7th. Finally, Sidoti lowered Power Integrations from a “buy” rating to a “neutral” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $81.40.
In related news, VP Radu Barsan sold 4,144 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $69.00, for a total transaction of $285,936.00. Following the completion of the sale, the vice president now directly owns 38,067 shares of the company’s stock, valued at $2,626,623. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan Bickell sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $65.00, for a total value of $325,000.00. The disclosure for this sale can be found here. Insiders have sold 62,235 shares of company stock valued at $4,234,629 over the last ninety days. 4.30% of the stock is currently owned by company insiders.
About Power Integrations
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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