Two Sigma Investments LP Sells 47,937 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Two Sigma Investments LP decreased its position in Power Integrations, Inc. (NASDAQ:POWI) by 88.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,178 shares of the semiconductor company’s stock after selling 47,937 shares during the quarter. Two Sigma Investments LP’s holdings in Power Integrations were worth $381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Power Integrations in the 4th quarter worth $19,663,000. Federated Hermes Inc. lifted its holdings in shares of Power Integrations by 40.0% in the 4th quarter. Federated Hermes Inc. now owns 711,017 shares of the semiconductor company’s stock worth $43,870,000 after buying an additional 203,309 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Power Integrations by 10.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,920,459 shares of the semiconductor company’s stock worth $118,492,000 after buying an additional 178,896 shares during the period. Snyder Capital Management L P lifted its holdings in shares of Power Integrations by 22.3% in the 4th quarter. Snyder Capital Management L P now owns 882,518 shares of the semiconductor company’s stock worth $54,451,000 after buying an additional 160,784 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Power Integrations in the 4th quarter worth $7,470,000.

Power Integrations Price Performance

Shares of NASDAQ POWI opened at $58.03 on Wednesday. The stock has a market capitalization of $3.27 billion, a P/E ratio of 101.81, a price-to-earnings-growth ratio of 4.08 and a beta of 1.29. Power Integrations, Inc. has a 1-year low of $40.78 and a 1-year high of $79.13. The business has a fifty day moving average price of $49.92 and a 200 day moving average price of $57.03.

Power Integrations (NASDAQ:POWI) last issued 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 return on equity of 4.48% and a net margin of 7.69%. The firm had revenue of $105.53 million during the quarter, compared to analysts’ expectations of $105.44 million. During the same period in the prior year, the business posted $0.18 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, equities research analysts anticipate that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Stifel Nicolaus upped their target price on Power Integrations from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Wall Street Zen cut Power Integrations from a “buy” rating to a “hold” rating in a report on Saturday, May 31st. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Power Integrations currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.67.

Insider Activity at Power Integrations

In related news, CFO Sandeep Nayyar sold 1,929 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.89, for a total transaction of $98,166.81. Following the transaction, the chief financial officer now directly owns 107,357 shares of the company’s stock, valued at $5,463,397.73. This represents a 1.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Balu Balakrishnan sold 9,544 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $51.19, for a total value of $488,557.36. Following the transaction, the chief executive officer now directly owns 590,580 shares in the company, valued at $30,231,790.20. This represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,561 shares of company stock valued at $642,092 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

About Power Integrations

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.