Power Integrations (NASDAQ:POWI) Shares Up 8.4% – Here’s Why

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Power Integrations from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Susquehanna lifted their price target on Power Integrations from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Power Integrations in a report on Friday, May 8th. Benchmark upped their price objective 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, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Power Integrations has a consensus rating of “Hold” and an average price target of $69.60.

Power Integrations Price Performance

The business’s 50 day simple moving average is $72.93 and its two-hundred day simple moving average is $54.01. The stock has a market cap of $4.85 billion, a P/E ratio of 290.38, a PEG ratio of 3.79 and a beta of 1.57.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.25 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%.Power Integrations’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. As a group, research analysts forecast that Power Integrations, Inc. will post 0.89 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

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

Insider Activity

In other news, Director Nicholas Brathwaite sold 1,728 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $86.62, for a total transaction of $149,679.36. Following the sale, the director directly owned 22,226 shares in the company, valued at approximately $1,925,216.12. The trade was a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sunil Gupta sold 6,860 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $83.67, for a total transaction of $573,976.20. Following the completion of the transaction, the vice president owned 64,379 shares of the company’s stock, valued at approximately $5,386,590.93. This trade represents a 9.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 335,085 shares of company stock valued at $27,338,789. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Power Integrations

A number of hedge funds have recently modified their holdings of the business. Covestor Ltd increased its stake in Power Integrations by 13.8% in the fourth quarter. Covestor Ltd now owns 2,064 shares of the semiconductor company’s stock valued at $73,000 after purchasing an additional 251 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of Power Integrations by 5.4% during the 1st quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company’s stock worth $255,000 after purchasing an additional 261 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Power Integrations by 2.7% during the 4th quarter. Cetera Investment Advisers now owns 12,972 shares of the semiconductor company’s stock worth $461,000 after purchasing an additional 340 shares in the last quarter. First National Bank of Omaha grew its stake in shares of Power Integrations by 0.8% in the 4th quarter. First National Bank of Omaha now owns 46,047 shares of the semiconductor company’s stock valued at $1,637,000 after buying an additional 366 shares during the period. Finally, Orion Porfolio Solutions LLC grew its stake in shares of Power Integrations by 3.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,531 shares of the semiconductor company’s stock valued at $756,000 after buying an additional 389 shares during the period.

Power Integrations Company Profile

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.