M&G PLC Purchases 292,547 Shares of Power Integrations, Inc. $POWI

M&G PLC purchased a new position in Power Integrations, Inc. (NASDAQ:POWI) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 292,547 shares of the semiconductor company’s stock, valued at approximately $15,212,000.

A number of other hedge funds also recently bought and sold shares of POWI. Fulcrum Asset Management LLP increased its stake in Power Integrations by 307.7% during the 3rd quarter. Fulcrum Asset Management LLP now owns 1,117 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 843 shares in the last quarter. Heritage Family Offices LLP purchased a new position in Power Integrations in the third quarter worth about $32,000. Boston Trust Walden Corp raised its holdings in Power Integrations by 46.2% in the third quarter. Boston Trust Walden Corp now owns 1,290,017 shares of the semiconductor company’s stock worth $66,823,000 after buying an additional 407,546 shares during the last quarter. ProShare Advisors LLC raised its holdings in Power Integrations by 22.7% in the third quarter. ProShare Advisors LLC now owns 240,018 shares of the semiconductor company’s stock worth $12,433,000 after buying an additional 44,348 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Power Integrations by 25.0% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 4,500 shares of the semiconductor company’s stock worth $233,000 after buying an additional 900 shares in the last quarter.

Wall Street Analysts Forecast Growth

POWI has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $62.00 price target on shares of Power Integrations in a report on Thursday, November 5th. Needham & Company LLC reduced their price target on shares of Power Integrations from $80.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. Zacks Research lowered shares of Power Integrations from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings raised Power Integrations from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Finally, Williams Trading set a $65.00 price objective on Power Integrations in a research report on Thursday, November 5th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.67.

Power Integrations Price Performance

Power Integrations stock opened at $43.94 on Wednesday. Power Integrations, Inc. has a one year low of $30.86 and a one year high of $91.18. The stock has a market capitalization of $2.46 billion, a PE ratio of 49.76 and a beta of 1.58. The business’s fifty day moving average is $48.58 and its 200 day moving average is $58.56.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Wednesday, November 4th. The semiconductor company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. Power Integrations had a return on equity of 7.36% and a net margin of 9.81%. The company had revenue of $125.48 million during the quarter, compared to the consensus estimate of $126.03 million. During the same period last year, the company earned $0.36 EPS. Power Integrations’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Power Integrations, Inc. will post 0.77 EPS for the current fiscal year.

Power Integrations Company Profile

Power Integrations, Inc. designs and markets semiconductor technologies used in high-voltage power conversion. Its products include integrated circuits, power switches, diodes and gate drivers that help convert and control electricity in electronic systems. The company’s products are used in applications such as consumer electronics, appliances, industrial equipment, communications systems, electric vehicles and renewable-energy installations. Its EcoSmart technology is designed to improve energy efficiency in power supplies and other power-conversion applications.