Power Integrations (NASDAQ:POWI) Hits New 52-Week High – Here’s What Happened

Power Integrations, Inc. (NASDAQ:POWI) shares hit a new 52-week high during trading on Monday . The company traded as high as $90.74 and last traded at $90.20, with a volume of 64534 shares traded. The stock had previously closed at $87.11.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Power Integrations in a research report on Friday, May 8th. Northland Securities downgraded shares of Power Integrations from an “outperform” rating to a “market perform” rating and set a $46.00 price target for the company. in a report on Monday, April 6th. Susquehanna upped their price target on shares of Power Integrations from $70.00 to $85.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Zacks Research raised shares of Power Integrations from a “strong sell” rating to a “hold” rating in a report on Thursday, February 26th. Finally, Stifel Nicolaus lifted their price objective on shares of Power Integrations from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $69.60.

Power Integrations Trading Up 2.8%

The firm has a 50-day moving average of $72.93 and a 200 day moving average of $54.15. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 298.04, a PEG ratio of 3.79 and a beta of 1.57.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. Power Integrations had a return on equity of 5.34% and a net margin of 3.72%.The company had revenue of $108.31 million during the quarter, compared to analysts’ expectations of $106.75 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts predict that Power Integrations, Inc. will post 0.89 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, May 29th. Power Integrations’s dividend payout ratio is currently 286.67%.

Insiders Place Their Bets

In other Power Integrations news, VP Sunil Gupta sold 6,860 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $83.67, for a total transaction of $573,976.20. Following the sale, the vice president directly owned 64,379 shares in the company, valued at approximately $5,386,590.93. The trade was a 9.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholas Brathwaite sold 1,728 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $86.62, for a total transaction of $149,679.36. Following the completion of the sale, the director directly owned 22,226 shares of the company’s stock, valued at approximately $1,925,216.12. This represents a 7.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 335,085 shares of company stock worth $27,338,789. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Power Integrations

A number of institutional investors have recently added to or reduced their stakes in POWI. Baird Financial Group Inc. raised its stake in shares of Power Integrations by 5.4% in the 1st quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company’s stock worth $255,000 after buying an additional 261 shares in the last quarter. Royal Bank of Canada boosted its stake in Power Integrations by 5.0% during the first quarter. Royal Bank of Canada now owns 75,792 shares of the semiconductor company’s stock valued at $3,827,000 after buying an additional 3,622 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Power Integrations by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,680 shares of the semiconductor company’s stock valued at $1,701,000 after buying an additional 1,461 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Power Integrations by 14.9% during the first quarter. Goldman Sachs Group Inc. now owns 572,360 shares of the semiconductor company’s stock worth $28,904,000 after acquiring an additional 74,107 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Power Integrations by 15.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,754 shares of the semiconductor company’s stock worth $8,825,000 after acquiring an additional 23,389 shares during the period.

About Power Integrations

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.