GAMMA Investing LLC Purchases 100,970 Shares of Power Integrations, Inc. (NASDAQ:POWI)

GAMMA Investing LLC grew its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 17,230.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 101,556 shares of the semiconductor company’s stock after purchasing an additional 100,970 shares during the quarter. GAMMA Investing LLC owned about 0.18% of Power Integrations worth $5,129,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in POWI. Allspring Global Investments Holdings LLC bought a new stake in shares of Power Integrations during the fourth quarter valued at approximately $288,000. Charles Schwab Investment Management Inc. increased its stake in Power Integrations by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 654,973 shares of the semiconductor company’s stock valued at $40,412,000 after purchasing an additional 33,741 shares in the last quarter. Bank of America Corp DE increased its stake in Power Integrations by 18.5% during the 4th quarter. Bank of America Corp DE now owns 401,125 shares of the semiconductor company’s stock valued at $24,749,000 after purchasing an additional 62,750 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Power Integrations during the 4th quarter valued at $7,470,000. Finally, Wells Fargo & Company MN increased its position in shares of Power Integrations by 6.2% during the fourth quarter. Wells Fargo & Company MN now owns 115,956 shares of the semiconductor company’s stock worth $7,154,000 after acquiring an additional 6,750 shares in the last quarter.

Wall Street Analysts Forecast Growth

POWI has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective on Power Integrations from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Wall Street Zen lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Saturday, May 31st. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.67.

Power Integrations Stock Up 2.1%

NASDAQ POWI opened at $58.03 on Wednesday. Power Integrations, Inc. has a 52 week low of $40.78 and a 52 week high of $79.13. The company has a fifty day moving average of $49.92 and a two-hundred day moving average of $57.03. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 101.81, a PEG ratio of 4.08 and a beta of 1.29.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Monday, May 12th. The semiconductor company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Power Integrations had a net margin of 7.69% and a return on equity of 4.48%. The company had revenue of $105.53 million during the quarter, compared to analyst estimates of $105.44 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, May 30th. Power Integrations’s dividend payout ratio (DPR) is presently 129.23%.

Insider Activity at Power Integrations

In other news, CEO Balu Balakrishnan sold 9,544 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $51.19, for a total value of $488,557.36. Following the sale, the chief executive officer now directly owns 590,580 shares in the company, valued at approximately $30,231,790.20. This trade represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Nayyar sold 1,929 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $50.89, for a total transaction of $98,166.81. Following the completion of the sale, the chief financial officer now owns 107,357 shares in the company, valued at $5,463,397.73. The trade was a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,561 shares of company stock valued at $642,092. 1.40% of the stock is owned by company insiders.

Power Integrations 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.