Power Integrations, Inc. (NASDAQ:POWI) Short Interest Update

Power Integrations, Inc. (NASDAQ:POWI) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 3,930,000 shares, a growth of 57.8% from the September 30th total of 2,490,000 shares. Based on an average daily trading volume, of 983,200 shares, the days-to-cover ratio is presently 4.0 days. Approximately 7.2% of the shares of the company are short sold. Approximately 7.2% of the shares of the company are short sold. Based on an average daily trading volume, of 983,200 shares, the days-to-cover ratio is presently 4.0 days.

Insider Buying and Selling

In other news, VP Gagan Jain sold 2,036 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $46.05, for a total transaction of $93,757.80. Following the completion of the sale, the vice president owned 18,812 shares in the company, valued at approximately $866,292.60. This represents a 9.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Doug Bailey sold 16,989 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $46.41, for a total value of $788,459.49. Following the sale, the vice president owned 50,798 shares of the company’s stock, valued at $2,357,535.18. This trade represents a 25.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 36,470 shares of company stock valued at $1,697,214 over the last three months. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Power Integrations

Several hedge funds and other institutional investors have recently made changes to their positions in POWI. Victory Capital Management Inc. lifted its stake in shares of Power Integrations by 1.2% in the first quarter. Victory Capital Management Inc. now owns 17,385 shares of the semiconductor company’s stock valued at $878,000 after buying an additional 200 shares during the period. Bank of Montreal Can lifted its stake in Power Integrations by 1.9% during the second quarter. Bank of Montreal Can now owns 11,323 shares of the semiconductor company’s stock worth $633,000 after purchasing an additional 214 shares during the period. Bayforest Capital Ltd lifted its stake in Power Integrations by 54.3% during the first quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 222 shares during the period. Baird Financial Group Inc. lifted its stake in Power Integrations by 5.4% during the first 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 during the period. Finally, Huntington National Bank increased its holdings in shares of Power Integrations by 27.4% during the second quarter. Huntington National Bank now owns 1,312 shares of the semiconductor company’s stock worth $73,000 after buying an additional 282 shares in the last quarter.

Power Integrations Price Performance

Power Integrations stock opened at $41.62 on Tuesday. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 71.76, a PEG ratio of 2.71 and a beta of 1.37. Power Integrations has a one year low of $34.55 and a one year high of $69.53. The company’s fifty day moving average price is $42.90 and its two-hundred day moving average price is $48.83.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $115.85 million for the quarter, compared to the consensus estimate of $115.02 million. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. As a group, sell-side analysts anticipate that Power Integrations will post 0.93 earnings per share for the current year.

Power Integrations Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, August 29th. Power Integrations’s dividend payout ratio (DPR) is currently 144.83%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on POWI shares. Benchmark reaffirmed a “buy” rating and issued a $55.00 price target on shares of Power Integrations in a research note on Tuesday, September 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Power Integrations in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Power Integrations from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Susquehanna dropped their price target on shares of Power Integrations from $70.00 to $55.00 and set a “positive” rating on the stock in a research note on Thursday, August 7th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Power Integrations has a consensus rating of “Moderate Buy” and an average price target of $61.67.

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.