Legacy Wealth Asset Management LLC purchased a new position in Power Integrations, Inc. (NASDAQ:POWI) in the fourth quarter, Holdings Channel reports. The fund purchased 8,182 shares of the semiconductor company’s stock, valued at approximately $670,000.
A number of other large investors have also recently bought and sold shares of the stock. Alpha DNA Investment Management LLC acquired a new position in Power Integrations in the fourth quarter worth about $140,000. Amundi Pioneer Asset Management Inc. boosted its stake in Power Integrations by 12.9% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 272,460 shares of the semiconductor company’s stock valued at $22,316,000 after acquiring an additional 31,223 shares during the period. Norges Bank acquired a new position in Power Integrations in the fourth quarter valued at approximately $64,984,000. UBS Asset Management Americas Inc. boosted its stake in Power Integrations by 5.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 59,980 shares of the semiconductor company’s stock valued at $4,910,000 after acquiring an additional 3,103 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Power Integrations by 221.5% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 122,800 shares of the semiconductor company’s stock valued at $10,052,000 after acquiring an additional 84,600 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.
A number of equities analysts have commented on the company. Zacks Investment Research downgraded Power Integrations from a “buy” rating to a “hold” rating in a research note on Tuesday, February 9th. Loop Capital lifted their target price on Power Integrations from $70.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, February 3rd. Cowen boosted their price objective on Power Integrations from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Power Integrations from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, December 17th. Finally, Northland Securities boosted their price objective on Power Integrations from $65.00 to $90.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Power Integrations presently has an average rating of “Buy” and a consensus price target of $89.00.
Shares of NASDAQ POWI opened at $81.36 on Thursday. Power Integrations, Inc. has a 12-month low of $43.46 and a 12-month high of $99.05. The company has a market cap of $4.91 billion, a PE ratio of 24.18 and a beta of 0.98. The stock has a 50 day simple moving average of $85.15 and a 200-day simple moving average of $76.41.
Power Integrations (NASDAQ:POWI) last announced its earnings results on Tuesday, February 2nd. The semiconductor company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.16. Power Integrations had a return on equity of 8.34% and a net margin of 44.72%. The firm had revenue of $150.69 million for the quarter, compared to analysts’ expectations of $129.88 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year. As a group, equities research analysts forecast that Power Integrations, Inc. will post 1.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Friday, February 26th were issued a dividend of $0.13 per share. This is a boost from Power Integrations’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Thursday, February 25th. This represents a $0.52 annualized dividend and a yield of 0.64%. Power Integrations’s payout ratio is presently 58.43%.
Power Integrations 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 offers 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 other consumer and industrial applications.
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