Barclays PLC Buys 8,601 Shares of Power Integrations Inc (NASDAQ:POWI)

Barclays PLC lifted its stake in Power Integrations Inc (NASDAQ:POWI) by 26.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 41,330 shares of the semiconductor company’s stock after acquiring an additional 8,601 shares during the period. Barclays PLC’s holdings in Power Integrations were worth $3,738,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of Power Integrations by 0.7% in the second quarter. BlackRock Inc. now owns 4,230,257 shares of the semiconductor company’s stock valued at $339,182,000 after buying an additional 30,956 shares during the period. Vanguard Group Inc. raised its position in Power Integrations by 0.6% in the second quarter. Vanguard Group Inc. now owns 3,003,910 shares of the semiconductor company’s stock worth $240,854,000 after purchasing an additional 16,957 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in Power Integrations by 0.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,689,063 shares of the semiconductor company’s stock worth $152,742,000 after purchasing an additional 10,045 shares in the last quarter. Invesco Ltd. raised its position in Power Integrations by 7.8% in the second quarter. Invesco Ltd. now owns 937,237 shares of the semiconductor company’s stock worth $75,147,000 after purchasing an additional 68,121 shares in the last quarter. Finally, State Street Corp raised its position in Power Integrations by 1.8% in the third quarter. State Street Corp now owns 920,136 shares of the semiconductor company’s stock worth $83,208,000 after purchasing an additional 16,198 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

NASDAQ POWI opened at $91.49 on Monday. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 42.75 and a beta of 1.25. The company has a 50 day moving average of $92.15 and a 200-day moving average of $84.17. Power Integrations Inc has a 1-year low of $55.80 and a 1-year high of $102.38.

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

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.19 per share. This is a positive change from Power Integrations’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.83%. Power Integrations’s dividend payout ratio (DPR) is presently 35.51%.

Several research firms recently issued reports on POWI. Stifel Nicolaus set a $104.00 price target on shares of Power Integrations and gave the stock 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. 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. BidaskClub lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Finally, ValuEngine lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $91.20.

In related news, VP Doug Bailey sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $93.38, for a total value of $186,760.00. Following the completion of the sale, the vice president now owns 59,298 shares of the company’s stock, valued at $5,537,247.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Balu Balakrishnan sold 27,510 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $91.82, for a total transaction of $2,525,968.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,558 shares of company stock valued at $8,779,367. Company insiders own 4.10% of the company’s stock.

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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Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

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