OppenheimerFunds Inc. lowered its position in shares of Power Integrations Inc (NASDAQ:POWI) by 98.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,313 shares of the semiconductor company’s stock after selling 232,721 shares during the period. OppenheimerFunds Inc.’s holdings in Power Integrations were worth $317,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of Power Integrations in the 3rd quarter worth about $205,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Power Integrations in the 3rd quarter worth about $288,000. Tiedemann Wealth Management LLC lifted its position in shares of Power Integrations by 9.2% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 15,980 shares of the semiconductor company’s stock worth $292,000 after purchasing an additional 1,351 shares during the period. Stephens Inc. AR lifted its position in shares of Power Integrations by 23.7% in the 3rd quarter. Stephens Inc. AR now owns 5,346 shares of the semiconductor company’s stock worth $391,000 after purchasing an additional 1,023 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Power Integrations in the 3rd quarter worth about $397,000. 96.27% of the stock is owned by institutional investors and hedge funds.
POWI has been the subject of several research analyst reports. BidaskClub cut shares of Power Integrations from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Susquehanna Bancshares initiated coverage on shares of Power Integrations in a research report on Wednesday, December 13th. They issued a “neutral” rating and a $80.00 target price for the company. They noted that the move was a valuation call. Zacks Investment Research cut shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Saturday, December 16th. Finally, Sidoti cut shares of Power Integrations from a “buy” rating to a “neutral” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $81.40.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. Power Integrations had a net margin of 6.39% and a return on equity of 12.70%. The company had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $110.50 million. During the same period last year, the company posted $0.67 EPS. Power Integrations’s revenue was up 5.7% on a year-over-year basis. analysts anticipate that Power Integrations Inc will post 2 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, February 28th will be given a dividend of $0.16 per share. This is a boost from Power Integrations’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Tuesday, February 27th. Power Integrations’s dividend payout ratio (DPR) is 71.11%.
Power Integrations declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 1st that allows the company to buyback $30.00 million in shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, VP Radu Barsan sold 4,144 shares of Power Integrations stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $69.00, for a total transaction of $285,936.00. Following the completion of the transaction, the vice president now directly owns 38,067 shares of the company’s stock, valued at approximately $2,626,623. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Balu Balakrishnan sold 9,488 shares of Power Integrations stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $77.36, for a total transaction of $733,991.68. Following the transaction, the insider now directly owns 262,977 shares of the company’s stock, valued at $20,343,900.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,235 shares of company stock valued at $4,234,629. 4.30% of the stock is currently owned by corporate insiders.
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Power Integrations Company 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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