Koch Industries Inc. bought a new stake in shares of Power Integrations Inc (NASDAQ:POWI) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,217 shares of the semiconductor company’s stock, valued at approximately $310,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Jane Street Group LLC purchased a new position in Power Integrations during the 3rd quarter valued at about $205,000. Dynamic Technology Lab Private Ltd purchased a new position in Power Integrations during the 3rd quarter valued at about $288,000. Tiedemann Wealth Management LLC lifted its position in Power Integrations by 9.2% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 15,980 shares of the semiconductor company’s stock valued at $292,000 after acquiring an additional 1,351 shares during the period. Stephens Inc. AR lifted its position in Power Integrations by 23.7% during the 3rd quarter. Stephens Inc. AR now owns 5,346 shares of the semiconductor company’s stock valued at $391,000 after acquiring an additional 1,023 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Power Integrations during the 3rd quarter valued at about $397,000. 96.28% of the stock is owned by institutional investors.
In other Power Integrations news, insider Balu Balakrishnan sold 17,186 shares of Power Integrations stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $63.02, for a total value of $1,083,061.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Nayyar sold 2,022 shares of Power Integrations stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $77.50, for a total transaction of $156,705.00. Following the completion of the transaction, the chief financial officer now directly owns 58,522 shares of the company’s stock, valued at $4,535,455. The disclosure for this sale can be found here. Insiders sold 62,235 shares of company stock valued at $4,234,629 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.
Power Integrations Inc (NASDAQ POWI) opened at $71.95 on Wednesday. The stock has a market cap of $2,179.42, a PE ratio of 32.04 and a beta of 1.23. Power Integrations Inc has a twelve month low of $60.55 and a twelve month high of $86.60.
Power Integrations (NASDAQ:POWI) last issued its earnings results on Thursday, February 1st. The semiconductor company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. The business had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $110.50 million. Power Integrations had a net margin of 6.39% and a return on equity of 12.70%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share. analysts predict that Power Integrations Inc will post 2 EPS for the current fiscal year.
Power Integrations announced that its Board of Directors has approved a share repurchase program on Thursday, February 1st that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Wednesday, February 28th will be issued a $0.16 dividend. The ex-dividend date is Tuesday, February 27th. This is a boost from Power Integrations’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 0.89%. Power Integrations’s payout ratio is 71.11%.
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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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