Power Integrations Inc (NASDAQ:POWI) Short Interest Up 7.3% in November

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Power Integrations Inc (NASDAQ:POWI) saw a significant growth in short interest in the month of November. As of November 29th, there was short interest totalling 933,900 shares, a growth of 7.3% from the November 14th total of 870,300 shares. Based on an average trading volume of 169,800 shares, the short-interest ratio is presently 5.5 days. Approximately 3.3% of the shares of the company are short sold.

In other news, VP Doug Bailey sold 2,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $91.19, for a total transaction of $182,380.00. Following the completion of the transaction, the vice president now owns 59,298 shares of the company’s stock, valued at $5,407,384.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholas Brathwaite sold 2,130 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $92.12, for a total transaction of $196,215.60. Following the transaction, the director now directly owns 24,828 shares of the company’s stock, valued at approximately $2,287,155.36. The disclosure for this sale can be found here. Insiders have sold 94,558 shares of company stock valued at $8,774,987 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new stake in shares of Power Integrations during the third quarter worth approximately $27,000. FNY Investment Advisers LLC acquired a new stake in shares of Power Integrations during the third quarter worth approximately $45,000. Tower Research Capital LLC TRC increased its holdings in shares of Power Integrations by 482.7% during the third quarter. Tower Research Capital LLC TRC now owns 874 shares of the semiconductor company’s stock worth $79,000 after buying an additional 724 shares in the last quarter. ETF Managers Group LLC increased its holdings in shares of Power Integrations by 23.8% during the second quarter. ETF Managers Group LLC now owns 2,604 shares of the semiconductor company’s stock worth $201,000 after buying an additional 501 shares in the last quarter. Finally, We Are One Seven LLC acquired a new stake in shares of Power Integrations during the third quarter worth approximately $206,000. 96.95% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:POWI traded down $0.04 during mid-day trading on Friday, hitting $93.48. The company’s stock had a trading volume of 116,953 shares, compared to its average volume of 136,373. Power Integrations has a fifty-two week low of $55.80 and a fifty-two week high of $102.38. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 52.11 and a beta of 1.25. The stock has a fifty day moving average of $92.18 and a 200-day moving average of $85.64.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, October 24th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. Power Integrations had a net margin of 14.50% and a return on equity of 9.64%. The firm had revenue of $114.16 million during the quarter, compared to analyst estimates of $114.20 million. During the same quarter in the prior year, the business posted $0.77 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Sell-side analysts expect that Power Integrations will post 1.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Wednesday, November 27th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.17. Power Integrations’s dividend payout ratio is 35.51%.

A number of brokerages have recently commented on POWI. Stifel Nicolaus set a $104.00 price objective on shares of Power Integrations and gave the company a “buy” rating in a research report on Friday, October 25th. Loop Capital raised shares of Power Integrations from a “hold” rating to a “buy” rating and increased their price target for the stock from $83.00 to $102.00 in a research report on Friday, October 25th. BidaskClub lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. ValuEngine lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of Power Integrations from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Saturday, October 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Power Integrations has an average rating of “Hold” and an average price target of $91.20.

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 worldwide. The company offers a range of alternating current 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, and other consumer and industrial applications, as well as light-emitting diode lighting.

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