First Midwest Bank Trust Division boosted its stake in shares of Power Integrations Inc. (NASDAQ:POWI) by 47.4% during the second quarter, Holdings Channel reports. The firm owned 7,125 shares of the company’s stock after buying an additional 2,291 shares during the period. First Midwest Bank Trust Division’s holdings in Power Integrations were worth $357,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in POWI. BlackRock Inc. raised its position in Power Integrations by 125.5% in the first quarter. BlackRock Inc. now owns 2,142 shares of the company’s stock valued at $106,000 after buying an additional 1,192 shares in the last quarter. Bank of Montreal Can bought a new position in Power Integrations during the second quarter valued at about $175,000. Eqis Capital Management Inc. raised its position in Power Integrations by 5.2% in the second quarter. Eqis Capital Management Inc. now owns 5,810 shares of the company’s stock valued at $291,000 after buying an additional 287 shares in the last quarter. Capstone Asset Management Co. raised its position in Power Integrations by 6.7% in the second quarter. Capstone Asset Management Co. now owns 8,963 shares of the company’s stock valued at $449,000 after buying an additional 560 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Power Integrations by 111.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,986 shares of the company’s stock valued at $450,000 after buying an additional 4,731 shares in the last quarter. 97.78% of the stock is owned by institutional investors.
Power Integrations Inc. (NASDAQ:POWI) traded down 0.19% during mid-day trading on Thursday, hitting $63.62. The company’s stock had a trading volume of 228,529 shares. The firm has a 50 day moving average of $59.75 and a 200-day moving average of $52.85. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 42.30 and a beta of 1.13. Power Integrations Inc. has a 52-week low of $39.53 and a 52-week high of $64.36.
Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.09. The company had revenue of $97.20 million for the quarter, compared to analysts’ expectations of $91.22 million. Power Integrations had a net margin of 12.36% and a return on equity of 11.64%. The business’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. On average, equities research analysts expect that Power Integrations Inc. will post $2.33 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.82%. Power Integrations’s dividend payout ratio (DPR) is presently 34.44%.
Several research analysts have recently issued reports on POWI shares. Deutsche Bank AG raised their price target on Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Zacks Investment Research upgraded Power Integrations from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Wednesday, July 20th. Finally, Sidoti lowered Power Integrations from a “buy” rating to a “neutral” rating in a research report on Thursday, June 23rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $60.40.
In other news, VP Ben Sutherland sold 2,216 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $57.97, for a total transaction of $128,461.52. Following the transaction, the vice president now owns 23,868 shares of the company’s stock, valued at approximately $1,383,627.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Doug Bailey sold 500 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $51.25, for a total transaction of $25,625.00. Following the transaction, the vice president now directly owns 27,719 shares in the company, valued at approximately $1,420,598.75. The disclosure for this sale can be found here. Insiders own 5.70% of the company’s stock.
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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