Magnetar Financial LLC Purchases New Stake in Power Integrations, Inc. $POWI

Magnetar Financial LLC acquired a new position in shares of Power Integrations, Inc. (NASDAQ:POWI) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 39,461 shares of the semiconductor company’s stock, valued at approximately $1,587,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its holdings in Power Integrations by 125.9% in the second quarter. Parkside Financial Bank & Trust now owns 585 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 326 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Power Integrations by 576.3% during the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 536 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of Power Integrations in the 2nd quarter worth about $40,000. Hantz Financial Services Inc. lifted its position in shares of Power Integrations by 77.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 849 shares of the semiconductor company’s stock worth $34,000 after buying an additional 371 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in shares of Power Integrations by 76.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,721 shares of the semiconductor company’s stock valued at $92,000 after buying an additional 744 shares during the period.

Insiders Place Their Bets

In other news, VP Gagan Jain sold 3,481 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $48.22, for a total value of $167,853.82. Following the completion of the transaction, the vice president owned 30,769 shares of the company’s stock, valued at approximately $1,483,681.18. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Balu Balakrishnan sold 10,080 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $44.75, for a total value of $451,080.00. Following the transaction, the director directly owned 575,331 shares in the company, valued at $25,746,062.25. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 41,518 shares of company stock worth $1,920,642. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on POWI. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Power Integrations in a research report on Monday, December 29th. Susquehanna lifted their target price on Power Integrations from $50.00 to $53.00 and gave the company a “positive” rating in a research note on Thursday, January 22nd. Zacks Research raised Power Integrations from a “strong sell” rating to a “hold” rating in a report on Thursday, February 26th. Finally, Benchmark reiterated a “buy” rating and set a $55.00 price target on shares of Power Integrations in a research report on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Power Integrations currently has a consensus rating of “Hold” and an average target price of $61.00.

Power Integrations Trading Down 1.1%

NASDAQ POWI opened at $46.35 on Friday. The company has a 50-day moving average price of $45.20 and a two-hundred day moving average price of $41.51. Power Integrations, Inc. has a 52 week low of $30.86 and a 52 week high of $60.12. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 118.85, a price-to-earnings-growth ratio of 3.56 and a beta of 1.34.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. Power Integrations had a return on equity of 5.15% and a net margin of 4.98%.The business had revenue of $103.20 million during the quarter, compared to the consensus estimate of $103.02 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. As a group, equities research analysts expect that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a dividend of $0.215 per share. This is a boost from Power Integrations’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, February 27th. This represents a $0.86 dividend on an annualized basis and a yield of 1.9%. Power Integrations’s payout ratio is presently 220.51%.

About Power Integrations

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.