Citigroup Inc. Grows Stock Position in Power Integrations, Inc. $POWI

Citigroup Inc. boosted its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 16.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,064 shares of the semiconductor company’s stock after purchasing an additional 19,139 shares during the quarter. Citigroup Inc. owned approximately 0.24% of Power Integrations worth $5,391,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in POWI. Hantz Financial Services Inc. increased its stake in shares of Power Integrations by 475.9% during the second quarter. Hantz Financial Services Inc. now owns 478 shares of the semiconductor company’s stock worth $27,000 after buying an additional 395 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Power Integrations by 576.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 536 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Power Integrations by 125.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 585 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 326 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Power Integrations during the 2nd quarter worth $40,000. Finally, Huntington National Bank grew its stake 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 purchasing an additional 282 shares in the last quarter.

Insider Activity

In related news, Director Balu Balakrishnan sold 10,080 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $44.75, for a total transaction of $451,080.00. Following the completion of the transaction, the director directly owned 575,331 shares of the company’s stock, valued at $25,746,062.25. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Gagan Jain sold 3,481 shares of Power Integrations stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $48.22, for a total value of $167,853.82. Following the completion of the sale, the vice president directly owned 30,769 shares in the company, valued at $1,483,681.18. This represents a 10.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,518 shares of company stock worth $1,920,642 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on POWI shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Power Integrations in a report on Monday, December 29th. Susquehanna lifted their price target on shares of Power Integrations from $50.00 to $53.00 and gave the stock a “positive” rating in a research note on Thursday, January 22nd. Zacks Research upgraded Power Integrations from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, Benchmark reissued a “buy” rating and issued a $55.00 target price on shares of Power Integrations in a report on Friday, February 6th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.00.

Power Integrations Stock Down 4.5%

Shares of POWI stock opened at $48.00 on Wednesday. The stock’s 50-day moving average price is $43.77 and its 200 day moving average price is $41.43. The stock has a market capitalization of $2.66 billion, a PE ratio of 123.08, a price-to-earnings-growth ratio of 3.81 and a beta of 1.34. Power Integrations, Inc. has a 52-week low of $30.86 and a 52-week high of $63.04.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The company had revenue of $103.20 million during the quarter, compared to analysts’ expectations of $103.02 million. Power Integrations had a return on equity of 5.15% and a net margin of 4.98%.The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. Analysts expect that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a $0.215 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.86 annualized dividend and a yield of 1.8%. This is an increase from Power Integrations’s previous quarterly dividend of $0.21. Power Integrations’s dividend payout ratio is presently 220.51%.

Power Integrations Company Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.