Power Integrations (NASDAQ:POWI) Cut to Hold at StockNews.com

StockNews.com lowered shares of Power Integrations (NASDAQ:POWI) from a buy rating to a hold rating in a report released on Thursday.

Separately, Benchmark reaffirmed a “buy” rating and issued a $78.00 target price on shares of Power Integrations in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Power Integrations Stock Performance

Shares of POWI opened at $43.68 on Thursday. Power Integrations has a 52-week low of $41.19 and a 52-week high of $79.13. The stock’s 50-day simple moving average is $58.27 and its 200 day simple moving average is $61.39. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 76.63, a price-to-earnings-growth ratio of 4.08 and a beta of 1.32.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.12). Power Integrations had a return on equity of 4.48% and a net margin of 7.69%. On average, research analysts forecast that Power Integrations will post 0.93 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Friday, February 28th. Power Integrations’s dividend payout ratio is currently 147.37%.

Insiders Place Their Bets

In other news, VP Clifford Walker sold 1,088 shares of Power Integrations stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.89, for a total value of $55,368.32. Following the transaction, the vice president now owns 141,765 shares in the company, valued at approximately $7,214,420.85. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Nayyar sold 5,152 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $60.75, for a total value of $312,984.00. Following the sale, the chief financial officer now owns 110,394 shares of the company’s stock, valued at $6,706,435.50. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,105 shares of company stock valued at $3,075,198. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Power Integrations

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. grew its stake in shares of Power Integrations by 158.4% in the third quarter. Citigroup Inc. now owns 56,612 shares of the semiconductor company’s stock worth $3,630,000 after purchasing an additional 34,707 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Power Integrations by 0.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 103,451 shares of the semiconductor company’s stock worth $6,632,000 after buying an additional 419 shares during the last quarter. FMR LLC increased its stake in shares of Power Integrations by 164.6% during the third quarter. FMR LLC now owns 17,247 shares of the semiconductor company’s stock valued at $1,106,000 after buying an additional 10,728 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Power Integrations by 89.6% during the third quarter. BNP Paribas Financial Markets now owns 57,165 shares of the semiconductor company’s stock valued at $3,665,000 after acquiring an additional 27,016 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in shares of Power Integrations by 12.5% during the third quarter. Glenmede Trust Co. NA now owns 4,495 shares of the semiconductor company’s stock valued at $288,000 after acquiring an additional 498 shares in the last quarter.

About Power Integrations

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.