Power Integrations Inc (POWI) Shares Sold by Disciplined Growth Investors Inc. MN
Disciplined Growth Investors Inc. MN lessened its holdings in shares of Power Integrations Inc (NASDAQ:POWI) by 1.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,211,787 shares of the semiconductor company’s stock after selling 22,900 shares during the period. Power Integrations accounts for about 1.9% of Disciplined Growth Investors Inc. MN’s portfolio, making the stock its 17th largest position. Disciplined Growth Investors Inc. MN owned 4.08% of Power Integrations worth $88,703,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Artemis Investment Management LLP boosted its holdings in Power Integrations by 159.9% in the third quarter. Artemis Investment Management LLP now owns 545,657 shares of the semiconductor company’s stock valued at $39,928,000 after acquiring an additional 335,703 shares during the last quarter. Mesirow Financial Investment Management Equity Management bought a new position in Power Integrations in the third quarter valued at about $20,628,000. Rice Hall James & Associates LLC bought a new position in Power Integrations in the third quarter valued at about $17,162,000. Koch Industries Inc. bought a new position in Power Integrations in the second quarter valued at about $209,000. Finally, Pax World Management LLC bought a new position in Power Integrations in the third quarter valued at about $10,698,000. Institutional investors own 97.51% of the company’s stock.
POWI has been the topic of several recent research reports. Drexel Hamilton reiterated a “buy” rating and issued a $84.00 price target on shares of Power Integrations in a report on Friday, October 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 price target on shares of Power Integrations in a report on Sunday, September 3rd. Zacks Investment Research upgraded Power Integrations from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Wednesday, November 1st. Finally, BidaskClub cut Power Integrations from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $83.50.
Power Integrations (NASDAQ:POWI) last issued its earnings results on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.05. Power Integrations had a return on equity of 11.95% and a net margin of 13.69%. The firm had revenue of $111.30 million for the quarter, compared to analysts’ expectations of $111.82 million. During the same quarter last year, the business earned $0.67 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. equities analysts forecast that Power Integrations Inc will post 2.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Wednesday, November 29th. Power Integrations’s dividend payout ratio (DPR) is currently 29.02%.
In other Power Integrations news, Director Steven Sharp sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.49, for a total transaction of $794,900.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP David Mh Matthews sold 704 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $78.33, for a total value of $55,144.32. Following the transaction, the vice president now owns 42,654 shares in the company, valued at approximately $3,341,087.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,089 shares of company stock worth $5,077,253. Company insiders own 4.30% of the company’s stock.
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. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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