FinTrust Capital Advisors LLC raised its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 100.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,720 shares of the semiconductor company’s stock after buying an additional 860 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Power Integrations were worth $95,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Captrust Financial Advisors purchased a new position in shares of Power Integrations in the 2nd quarter valued at approximately $37,000. USA Financial Portformulas Corp bought a new stake in shares of Power Integrations in the third quarter worth $37,000. Cornerstone Advisors Inc. increased its position in Power Integrations by 100.0% during the third quarter. Cornerstone Advisors Inc. now owns 714 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 357 shares during the last quarter. Huntington National Bank lifted its holdings in Power Integrations by 100.0% in the third quarter. Huntington National Bank now owns 1,268 shares of the semiconductor company’s stock valued at $70,000 after acquiring an additional 634 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of Power Integrations by 84.1% in the 3rd quarter. Fifth Third Bancorp now owns 1,451 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 663 shares during the period. Hedge funds and other institutional investors own 49.03% of the company’s stock.
POWI has been the topic of several recent research reports. Stifel Nicolaus lowered their price objective on shares of Power Integrations from $138.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Power Integrations from $93.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, July 28th. BidaskClub upgraded shares of Power Integrations from a “hold” rating to a “buy” rating in a research note on Tuesday, November 10th. Northland Securities upgraded shares of Power Integrations from an “under perform” rating to a “market perform” rating and set a $65.00 price objective on the stock in a research note on Thursday, August 20th. Finally, Piper Sandler started coverage on shares of Power Integrations in a research note on Monday, October 12th. They issued an “overweight” rating on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $83.50.
Power Integrations (NASDAQ:POWI) last released its earnings results on Thursday, October 29th. The semiconductor company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Power Integrations had a net margin of 45.94% and a return on equity of 9.38%. The company had revenue of $121.13 million for the quarter, compared to analysts’ expectations of $115.18 million. During the same quarter last year, the business earned $0.29 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts predict that Power Integrations, Inc. will post 1.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, November 30th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, November 27th. Power Integrations’s payout ratio is currently 49.44%.
In other news, VP David Mh Matthews sold 3,764 shares of Power Integrations stock in a transaction that occurred on Thursday, November 19th. The shares were sold at an average price of $68.51, for a total transaction of $257,871.64. Following the sale, the vice president now owns 105,322 shares in the company, valued at $7,215,610.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Balu Balakrishnan sold 50,000 shares of Power Integrations stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $65.26, for a total transaction of $3,263,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,590 shares of company stock worth $4,118,401. Company insiders own 2.10% of the company’s stock.
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 offers a range of alternating current (AC) to direct current (DC) power conversion products that address power supply ranging from less than 1 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 other consumer and industrial applications, as well as LED lighting.
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