Power Integrations (NASDAQ:POWI) Hits New 12-Month Low – Here’s What Happened

Power Integrations, Inc. (NASDAQ:POWI) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $54.55 and last traded at $55.46, with a volume of 786363 shares traded. The stock had previously closed at $59.37.

Wall Street Analysts Forecast Growth

POWI has been the subject of a number of analyst reports. Benchmark reaffirmed a “buy” rating and issued a $78.00 price target on shares of Power Integrations in a research note on Friday, February 7th. StockNews.com lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Power Integrations has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Power Integrations Trading Down 6.6 %

The firm has a 50-day moving average of $61.31 and a two-hundred day moving average of $62.47. The firm has a market capitalization of $3.16 billion, a P/E ratio of 97.30, a P/E/G ratio of 4.08 and a beta of 1.11.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.12). Power Integrations had a return on equity of 4.48% and a net margin of 7.69%. On average, sell-side analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.51%. Power Integrations’s dividend payout ratio is currently 147.37%.

Insiders Place Their Bets

In other news, VP Radu Barsan sold 10,393 shares of Power Integrations stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $66.08, for a total transaction of $686,769.44. Following the sale, the vice president now directly owns 45,295 shares of the company’s stock, valued at approximately $2,993,093.60. This trade represents a 18.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Balu Balakrishnan sold 12,507 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $60.64, for a total value of $758,424.48. Following the sale, the chief executive officer now owns 600,002 shares in the company, valued at approximately $36,384,121.28. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,544 shares of company stock valued at $2,433,105. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Power Integrations

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in shares of Power Integrations by 25.6% in the third quarter. Wellington Management Group LLP now owns 2,340,328 shares of the semiconductor company’s stock worth $150,062,000 after purchasing an additional 476,986 shares during the last quarter. Norges Bank acquired a new position in Power Integrations during the 4th quarter worth about $19,663,000. Federated Hermes Inc. grew its position in shares of Power Integrations by 40.0% in the 4th quarter. Federated Hermes Inc. now owns 711,017 shares of the semiconductor company’s stock valued at $43,870,000 after buying an additional 203,309 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Power Integrations by 10.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,920,459 shares of the semiconductor company’s stock valued at $118,492,000 after buying an additional 178,896 shares during the period. Finally, Snyder Capital Management L P raised its position in shares of Power Integrations by 22.3% during the fourth quarter. Snyder Capital Management L P now owns 882,518 shares of the semiconductor company’s stock worth $54,451,000 after acquiring an additional 160,784 shares during the last quarter.

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 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.