Power Integrations Inc (POWI) Stake Lessened by Sei Investments Co.
Sei Investments Co. reduced its stake in shares of Power Integrations Inc (NASDAQ:POWI) by 6.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,012 shares of the semiconductor company’s stock after selling 1,489 shares during the quarter. Sei Investments Co. owned approximately 0.07% of Power Integrations worth $1,611,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of POWI. Artemis Investment Management LLP boosted its stake in shares of Power Integrations by 159.9% during the third quarter. Artemis Investment Management LLP now owns 545,657 shares of the semiconductor company’s stock valued at $39,928,000 after purchasing an additional 335,703 shares during the period. Mesirow Financial Investment Management Equity Management purchased a new stake in Power Integrations in the third quarter worth about $20,628,000. Rice Hall James & Associates LLC purchased a new stake in Power Integrations in the third quarter worth about $17,162,000. Koch Industries Inc. purchased a new stake in Power Integrations in the second quarter worth about $209,000. Finally, Pax World Management LLC purchased a new stake in Power Integrations in the third quarter worth about $10,698,000. 97.51% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on POWI. Zacks Investment Research raised shares of Power Integrations from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Wednesday, November 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Power Integrations in a research note on Wednesday, October 4th. Drexel Hamilton reaffirmed a “buy” rating and issued a $84.00 price objective on shares of Power Integrations in a research note on Friday, October 27th. Finally, BidaskClub lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Power Integrations presently has an average rating of “Buy” and an average target price of $83.50.
Shares of Power Integrations Inc (NASDAQ:POWI) opened at $75.10 on Wednesday. Power Integrations Inc has a one year low of $61.44 and a one year high of $86.60. The firm has a market cap of $2,306.02, a PE ratio of 36.95 and a beta of 1.26.
Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.05. The company had revenue of $111.30 million during the quarter, compared to analyst estimates of $111.82 million. Power Integrations had a net margin of 13.69% and a return on equity of 11.95%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 earnings per share. analysts predict that Power Integrations Inc will post 2.06 EPS for the current fiscal year.
The company 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 $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.56 dividend on an annualized basis and a yield of 0.75%. Power Integrations’s dividend payout ratio is presently 29.02%.
In other Power Integrations news, CEO Balu Balakrishnan sold 51,350 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $80.71, for a total value of $4,144,458.50. Following the completion of the transaction, the chief executive officer now directly owns 268,226 shares in the company, valued at $21,648,520.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Mh Matthews sold 704 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $78.33, for a total transaction of $55,144.32. Following the completion of the transaction, the vice president now owns 42,654 shares of the company’s stock, valued at $3,341,087.82. The disclosure for this sale can be found here. Insiders sold 63,089 shares of company stock valued at $5,077,253 over the last quarter. 4.30% of the stock is currently owned by corporate insiders.
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Power Integrations Profile
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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