153,431 Shares in Power Integrations, Inc. (NASDAQ:POWI) Bought by M&G Plc

M&G Plc purchased a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI) during the third quarter, Holdings Channel reports. The firm purchased 153,431 shares of the semiconductor company’s stock, valued at approximately $9,820,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Copeland Capital Management LLC raised its holdings in shares of Power Integrations by 21.5% during the 3rd quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company’s stock valued at $77,401,000 after buying an additional 213,392 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in Power Integrations by 40.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 457,470 shares of the semiconductor company’s stock valued at $32,110,000 after acquiring an additional 131,735 shares during the last quarter. Millennium Management LLC raised its stake in shares of Power Integrations by 23.4% during the second quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock worth $41,634,000 after acquiring an additional 112,595 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Power Integrations by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 6,528,564 shares of the semiconductor company’s stock worth $467,119,000 after acquiring an additional 105,034 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in shares of Power Integrations by 18.4% in the 3rd quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company’s stock valued at $39,875,000 after purchasing an additional 96,609 shares in the last quarter.

Insider Activity

In other Power Integrations news, VP Sunil Gupta sold 2,127 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total value of $140,169.30. Following the completion of the sale, the vice president now directly owns 51,899 shares in the company, valued at $3,420,144.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 2,398 shares of company stock valued at $157,847. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on POWI. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target (down from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. Benchmark restated a “buy” rating and set a $78.00 target price on shares of Power Integrations in a report on Wednesday, September 11th. Northland Securities upgraded Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Monday, August 12th. StockNews.com upgraded Power Integrations from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a report on Wednesday, August 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 stock. According to MarketBeat.com, Power Integrations has an average rating of “Moderate Buy” and an average price target of $78.00.

Power Integrations Stock Performance

NASDAQ POWI opened at $65.38 on Friday. The stock has a market cap of $3.72 billion, a P/E ratio of 87.17, a price-to-earnings-growth ratio of 5.10 and a beta of 1.10. Power Integrations, Inc. has a fifty-two week low of $56.63 and a fifty-two week high of $89.68. The stock has a 50 day simple moving average of $62.30 and a two-hundred day simple moving average of $68.00.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $106.20 million during the quarter, compared to analyst estimates of $105.02 million. Power Integrations had a return on equity of 4.86% and a net margin of 10.38%. The firm’s revenue was down 13.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. Sell-side analysts predict that Power Integrations, Inc. will post 0.59 earnings per share for the current year.

Power Integrations Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Friday, August 30th. Power Integrations’s payout ratio is 106.67%.

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.