Power Integrations (NASDAQ:POWI) Shares Gap Up to $97.94

Power Integrations, Inc. (NASDAQ:POWI)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $97.94, but opened at $101.74. Power Integrations shares last traded at $99.47, with a volume of 1,022 shares changing hands.

Several analysts have recently weighed in on the stock. Susquehanna restated a “hold” rating and set a $98.00 price objective on shares of Power Integrations in a research report on Friday, July 30th. Benchmark boosted their price objective on shares of Power Integrations from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, August 26th. Northland Securities upgraded shares of Power Integrations from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research report on Friday, July 30th. Susquehanna Bancshares reaffirmed a “hold” rating and set a $98.00 target price on shares of Power Integrations in a research note on Friday, July 30th. Finally, Zacks Investment Research lowered shares of Power Integrations from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 5th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $104.63.

The stock has a market capitalization of $5.97 billion, a PE ratio of 48.49 and a beta of 0.94. The stock has a 50 day moving average price of $103.34 and a 200-day moving average price of $89.36.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, July 29th. The semiconductor company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.20. The firm had revenue of $180.11 million for the quarter, compared to the consensus estimate of $174.43 million. Power Integrations had a return on equity of 15.41% and a net margin of 19.78%. Equities analysts anticipate that Power Integrations, Inc. will post 2.54 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Tuesday, August 31st were paid a $0.13 dividend. The ex-dividend date was Monday, August 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.53%. Power Integrations’s dividend payout ratio (DPR) is currently 42.62%.

In related news, VP David Mh Matthews sold 1,500 shares of Power Integrations stock in a transaction on Monday, August 30th. The stock was sold at an average price of $110.08, for a total transaction of $165,120.00. Following the transaction, the vice president now directly owns 104,811 shares in the company, valued at $11,537,594.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandeep Nayyar sold 2,018 shares of Power Integrations stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $99.46, for a total value of $200,710.28. The disclosure for this sale can be found here. Insiders have sold 24,093 shares of company stock worth $2,490,854 over the last quarter. 1.40% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Van ECK Associates Corp bought a new stake in Power Integrations during the first quarter valued at about $27,000. Dark Forest Capital Management LP bought a new stake in Power Integrations during the second quarter valued at about $30,000. West Oak Capital LLC bought a new stake in Power Integrations during the third quarter valued at about $35,000. Lazard Asset Management LLC raised its holdings in Power Integrations by 264.5% during the first quarter. Lazard Asset Management LLC now owns 452 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 328 shares during the period. Finally, Ameritas Investment Company LLC bought a new stake in Power Integrations during the first quarter valued at about $46,000. 96.46% of the stock is currently owned by institutional investors and hedge funds.

About Power Integrations (NASDAQ:POWI)

Power Integrations, Inc engages in the design, development and marketing of analog and mixed-signal integrated circuits and other electronic components and circuitry used in high voltage power conversion. Its products are used in power converters that convert electricity from a high-voltage source to the type of power required for a specified downstream use.

See Also: Operating Income

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