Power Integrations Inc (NASDAQ:POWI) Short Interest Up 7.3% in November

Power Integrations Inc (NASDAQ:POWI) was the recipient of a significant growth in short interest during the month of November. As of November 29th, there was short interest totalling 933,900 shares, a growth of 7.3% from the November 14th total of 870,300 shares. Approximately 3.3% of the shares of the stock are sold short. Based on an average trading volume of 169,800 shares, the days-to-cover ratio is currently 5.5 days.

In related news, VP Doug Bailey sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $91.19, for a total transaction of $182,380.00. Following the transaction, the vice president now directly owns 59,298 shares in the company, valued at $5,407,384.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ben Sutherland sold 10,206 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $91.55, for a total transaction of $934,359.30. Following the transaction, the vice president now owns 30,974 shares in the company, valued at $2,835,669.70. The disclosure for this sale can be found here. Insiders have sold 94,558 shares of company stock worth $8,774,987 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of POWI. Point72 Asset Management L.P. purchased a new stake in shares of Power Integrations in the 3rd quarter valued at approximately $27,000. FNY Investment Advisers LLC purchased a new stake in shares of Power Integrations in the 3rd quarter valued at approximately $45,000. Tower Research Capital LLC TRC raised its stake in shares of Power Integrations by 482.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 874 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 724 shares during the period. ETF Managers Group LLC raised its stake in shares of Power Integrations by 23.8% in the 2nd quarter. ETF Managers Group LLC now owns 2,604 shares of the semiconductor company’s stock valued at $201,000 after acquiring an additional 501 shares during the period. Finally, We Are One Seven LLC purchased a new stake in shares of Power Integrations in the 3rd quarter valued at approximately $206,000. 96.95% of the stock is currently owned by institutional investors.

A number of equities analysts recently weighed in on POWI shares. Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Saturday, October 12th. ValuEngine lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus set a $104.00 price target on shares of Power Integrations and gave the stock a “buy” rating in a research report on Friday, October 25th. BidaskClub lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Finally, Loop Capital raised shares of Power Integrations from a “hold” rating to a “buy” rating and lifted their target price for the stock from $83.00 to $102.00 in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $91.20.

POWI stock traded down $0.04 during trading on Friday, reaching $93.48. 116,953 shares of the stock were exchanged, compared to its average volume of 133,366. The business has a 50 day moving average price of $92.18 and a 200-day moving average price of $85.64. Power Integrations has a 1 year low of $55.80 and a 1 year high of $102.38. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 43.68 and a beta of 1.25.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Thursday, October 24th. The semiconductor company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. Power Integrations had a net margin of 14.50% and a return on equity of 9.64%. The company had revenue of $114.16 million for the quarter, compared to the consensus estimate of $114.20 million. During the same period in the previous year, the firm earned $0.77 earnings per share. Power Integrations’s quarterly revenue was up 3.7% compared to the same quarter last year. Sell-side analysts expect that Power Integrations will post 1.86 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Power Integrations’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 0.81%. Power Integrations’s payout ratio is 35.51%.

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 worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 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, and other consumer and industrial applications, as well as light-emitting diode lighting.

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