Power Integrations Inc. (POWI) Director Alan Bickell Sells 6,000 Shares
Power Integrations Inc. (NASDAQ:POWI) Director Alan Bickell sold 6,000 shares of the firm’s stock in a transaction on Friday, November 25th. The shares were sold at an average price of $68.07, for a total transaction of $408,420.00. Following the transaction, the director now owns 16,534 shares in the company, valued at approximately $1,125,469.38. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Power Integrations Inc. (NASDAQ:POWI) opened at 67.95 on Wednesday. The company has a 50-day moving average of $64.37 and a 200 day moving average of $57.44. The company has a market cap of $1.98 billion, a P/E ratio of 42.68 and a beta of 1.03. Power Integrations Inc. has a one year low of $39.53 and a one year high of $69.40.
Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.10. The company earned $103.79 million during the quarter, compared to analysts’ expectations of $99 million. Power Integrations had a net margin of 12.57% and a return on equity of 11.90%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. Equities research analysts predict that Power Integrations Inc. will post $2.45 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Monday, November 28th. Power Integrations’s dividend payout ratio (DPR) is presently 32.50%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kessler Investment Group LLC bought a new position in Power Integrations during the third quarter valued at $101,000. Victory Capital Management Inc. boosted its position in shares of Power Integrations by 4.2% in the third quarter. Victory Capital Management Inc. now owns 1,845 shares of the company’s stock valued at $116,000 after buying an additional 74 shares during the last quarter. Sit Investment Associates Inc. boosted its position in shares of Power Integrations by 22.9% in the third quarter. Sit Investment Associates Inc. now owns 2,550 shares of the company’s stock valued at $161,000 after buying an additional 475 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Power Integrations during the second quarter valued at approximately $175,000. Finally, PineBridge Investments L.P. boosted its position in shares of Power Integrations by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,653 shares of the company’s stock valued at $183,000 after buying an additional 144 shares during the last quarter. Institutional investors own 97.80% of the company’s stock.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “strong-buy” rating and set a $64.00 price target on the stock in a report on Thursday, August 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $70.00 target price (up previously from $63.00) on shares of Power Integrations in a report on Thursday, October 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $65.25.
About Power Integrations
Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs) and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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