Van ECK Associates Corp Boosts Position in Power Integrations, Inc. (NASDAQ:POWI)

Van ECK Associates Corp lifted its position in Power Integrations, Inc. (NASDAQ:POWI) by 21.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,074 shares of the semiconductor company’s stock after buying an additional 2,644 shares during the quarter. Van ECK Associates Corp’s holdings in Power Integrations were worth $1,238,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of POWI. GAMMA Investing LLC purchased a new position in shares of Power Integrations during the 4th quarter valued at $26,000. Itau Unibanco Holding S.A. purchased a new position in Power Integrations during the third quarter worth about $65,000. Headlands Technologies LLC increased its stake in Power Integrations by 374.6% in the 3rd quarter. Headlands Technologies LLC now owns 1,082 shares of the semiconductor company’s stock worth $83,000 after acquiring an additional 854 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Power Integrations by 17.4% in the 3rd quarter. Signaturefd LLC now owns 1,421 shares of the semiconductor company’s stock valued at $108,000 after acquiring an additional 211 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Power Integrations by 12.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 2,686 shares of the semiconductor company’s stock valued at $205,000 after acquiring an additional 305 shares during the last quarter.

Power Integrations Stock Performance

Shares of Power Integrations stock opened at $77.34 on Friday. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 84.07 and a beta of 1.20. The company has a fifty day moving average of $69.70 and a 200-day moving average of $74.28. Power Integrations, Inc. has a 52-week low of $62.13 and a 52-week high of $99.60.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. Power Integrations had a return on equity of 6.46% and a net margin of 12.54%. The firm had revenue of $89.51 million for the quarter, compared to analysts’ expectations of $90.21 million. On average, equities research analysts forecast that Power Integrations, Inc. will post 0.65 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.20 per share. The ex-dividend date is Friday, May 31st. This represents a $0.80 annualized dividend and a yield of 1.03%. Power Integrations’s payout ratio is 86.96%.

Insiders Place Their Bets

In other news, CFO Sandeep Nayyar sold 2,812 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $79.99, for a total value of $224,931.88. Following the transaction, the chief financial officer now owns 67,359 shares in the company, valued at $5,388,046.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Sandeep Nayyar sold 2,812 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $79.99, for a total transaction of $224,931.88. Following the completion of the transaction, the chief financial officer now directly owns 67,359 shares of the company’s stock, valued at $5,388,046.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Balu Balakrishnan sold 5,232 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $81.02, for a total value of $423,896.64. Following the completion of the sale, the chief executive officer now directly owns 508,461 shares in the company, valued at $41,195,510.22. The disclosure for this sale can be found here. Insiders have sold 48,106 shares of company stock valued at $3,518,339 in the last ninety days. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on POWI. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Benchmark lifted their price objective on shares of Power Integrations from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 9th. TD Cowen increased their target price on Power Integrations from $65.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, February 9th. Finally, Northland Securities raised Power Integrations from an “under perform” rating to a “market perform” rating and set a $67.00 price target for the company in a research note on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $87.40.

Power Integrations Company Profile

Power Integrations, Inc designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company provides a range of alternating current to direct current power conversion products that address power supply ranging from less than one watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, LED lighting, and various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.