Power Integrations (NASDAQ:POWI) Shares Up 7.1%

Shares of Power Integrations, Inc. (NASDAQ:POWI) shot up 7.1% during mid-day trading on Wednesday . The stock traded as high as $76.96 and last traded at $75.12. 403,474 shares were traded during trading, an increase of 1% from the average session volume of 400,313 shares. The stock had previously closed at $70.17.

Analysts Set New Price Targets

Several equities research analysts recently commented on POWI shares. TD Cowen boosted their price objective on shares of Power Integrations from $65.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, February 9th. StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Northland Securities raised Power Integrations from an “under perform” rating to a “market perform” rating and set a $67.00 target price on the stock in a research report on Monday, February 26th. Finally, Benchmark upped their price target on Power Integrations from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.40.

Power Integrations Stock Up 9.2 %

The stock’s fifty day moving average is $69.46 and its two-hundred day moving average is $74.24. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 76.72 and a beta of 1.20.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.09. Power Integrations had a net margin of 12.54% and a return on equity of 6.46%. The company had revenue of $89.51 million for the quarter, compared to analyst estimates of $90.21 million. As a group, analysts anticipate that Power Integrations, Inc. will post 0.65 EPS for the current year.

Power Integrations Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.04%. Power Integrations’s payout ratio is presently 82.47%.

Insider Transactions at Power Integrations

In related news, CEO Balu Balakrishnan sold 9,799 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $68.61, for a total transaction of $672,309.39. Following the completion of the sale, the chief executive officer now owns 552,161 shares of the company’s stock, valued at $37,883,766.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Power Integrations news, VP Clifford Walker sold 1,096 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $69.04, for a total transaction of $75,667.84. Following the completion of the transaction, the vice president now owns 140,834 shares of the company’s stock, valued at $9,723,179.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Balu Balakrishnan sold 9,799 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $68.61, for a total value of $672,309.39. Following the sale, the chief executive officer now directly owns 552,161 shares in the company, valued at approximately $37,883,766.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,106 shares of company stock valued at $3,518,339. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Power Integrations by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,423,530 shares of the semiconductor company’s stock valued at $527,436,000 after acquiring an additional 21,139 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Power Integrations by 6.4% in the third quarter. JPMorgan Chase & Co. now owns 2,556,319 shares of the semiconductor company’s stock worth $195,073,000 after acquiring an additional 154,032 shares during the period. Wellington Management Group LLP boosted its holdings in Power Integrations by 5.8% in the third quarter. Wellington Management Group LLP now owns 2,275,969 shares of the semiconductor company’s stock valued at $173,679,000 after acquiring an additional 123,988 shares during the last quarter. Capital International Investors raised its holdings in Power Integrations by 46.2% during the 4th quarter. Capital International Investors now owns 1,236,159 shares of the semiconductor company’s stock worth $101,501,000 after purchasing an additional 390,373 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its position in shares of Power Integrations by 0.5% in the 4th quarter. Boston Trust Walden Corp now owns 793,058 shares of the semiconductor company’s stock worth $65,118,000 after purchasing an additional 3,784 shares during the period.

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 provides 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 various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.