Healthcare of Ontario Pension Plan Trust Fund reduced its position in Power Integrations, Inc. (NASDAQ:POWI) by 68.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 38,312 shares of the semiconductor company’s stock after selling 84,488 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Power Integrations were worth $3,122,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Power Integrations by 4.1% in the 1st quarter. BlackRock Inc. now owns 9,970,579 shares of the semiconductor company’s stock valued at $812,403,000 after buying an additional 391,459 shares during the period. ETF Managers Group LLC increased its stake in shares of Power Integrations by 9.7% in the 4th quarter. ETF Managers Group LLC now owns 6,304 shares of the semiconductor company’s stock valued at $511,000 after buying an additional 560 shares during the period. Profund Advisors LLC increased its stake in shares of Power Integrations by 29.0% in the 4th quarter. Profund Advisors LLC now owns 10,313 shares of the semiconductor company’s stock valued at $844,000 after buying an additional 2,319 shares during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Power Integrations in the 4th quarter valued at $544,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Power Integrations by 24,426.7% during the first quarter. Meeder Asset Management Inc. now owns 7,358 shares of the semiconductor company’s stock worth $600,000 after purchasing an additional 7,328 shares during the period. 96.48% of the stock is owned by institutional investors.
A number of equities research analysts recently commented on POWI shares. Northland Securities decreased their price objective on Power Integrations from $88.00 to $77.00 and set a “market perform” rating for the company in a research note on Tuesday, May 18th. Zacks Investment Research raised Power Integrations from a “hold” rating to a “strong-buy” rating and set a $90.00 price objective for the company in a research note on Thursday, May 6th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $85.17.
POWI stock opened at $81.26 on Friday. The business’s 50-day simple moving average is $80.39. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 52.09 and a beta of 0.94. Power Integrations, Inc. has a 1-year low of $50.34 and a 1-year high of $99.05.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, April 29th. The semiconductor company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.20. The firm had revenue of $173.74 million for the quarter, compared to analyst estimates of $150.25 million. Power Integrations had a return on equity of 12.28% and a net margin of 17.21%. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, equities analysts forecast that Power Integrations, Inc. will post 2.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Friday, May 28th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, May 27th. This represents a $0.52 annualized dividend and a yield of 0.64%. Power Integrations’s dividend payout ratio is presently 42.62%.
Power Integrations Company Profile
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 to direct current power conversion products that address power supply ranging from less than one 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.
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