Power Integrations, Inc. (NASDAQ:POWI) Shares Sold by DekaBank Deutsche Girozentrale

Posted by Defense World Staff on Apr 21st, 2023

DekaBank Deutsche Girozentrale trimmed its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI – Get Rating) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,289 shares of the semiconductor company’s stock after selling 421 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Power Integrations were worth $1,951,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Jump Financial LLC bought a new position in shares of Power Integrations during the third quarter worth about $2,684,000. Bessemer Group Inc. grew its position in Power Integrations by 86.1% in the 3rd quarter. Bessemer Group Inc. now owns 774 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 358 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in Power Integrations in the 3rd quarter valued at about $2,140,000. Congress Asset Management Co. MA grew its position in Power Integrations by 19.7% in the 3rd quarter. Congress Asset Management Co. MA now owns 223,198 shares of the semiconductor company’s stock valued at $14,356,000 after buying an additional 36,746 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in Power Integrations by 265.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,094 shares of the semiconductor company’s stock valued at $328,000 after buying an additional 3,700 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.

Power Integrations Trading Down 0.1 %

POWI stock opened at $76.84 on Friday. Power Integrations, Inc. has a one year low of $59.16 and a one year high of $91.98. The firm has a market capitalization of $4.39 billion, a PE ratio of 26.23 and a beta of 1.19. The firm has a 50-day moving average of $82.05 and a two-hundred day moving average of $77.36.

Power Integrations (NASDAQ:POWI – Get Rating) last posted its quarterly earnings data on Monday, February 6th. The semiconductor company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Power Integrations had a net margin of 26.24% and a return on equity of 22.72%. The company had revenue of $124.80 million during the quarter, compared to analyst estimates of $125.55 million. During the same period in the prior year, the firm earned $0.67 earnings per share. The business’s quarterly revenue was down 27.7% on a year-over-year basis. On average, equities research analysts anticipate that Power Integrations, Inc. will post 1.56 earnings per share for the current year.

Power Integrations Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Tuesday, February 28th were paid a dividend of $0.19 per share. The ex-dividend date was Monday, February 27th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. Power Integrations’s dividend payout ratio is currently 25.94%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Benchmark increased their target price on shares of Power Integrations from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. StockNews.com initiated coverage on shares of Power Integrations in a research report on Thursday, March 16th. They set a “hold” rating for the company. Cowen raised their price objective on shares of Power Integrations from $65.00 to $85.00 and gave the company a “market perform” rating in a research report on Tuesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Power Integrations from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, February 7th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Power Integrations presently has a consensus rating of “Hold” and a consensus target price of $83.14.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, CEO Balu Balakrishnan sold 11,750 shares of the company’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $83.75, for a total transaction of $984,062.50. Following the completion of the sale, the chief executive officer now directly owns 604,324 shares of the company’s stock, valued at $50,612,135. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Sandeep Nayyar sold 1,103 shares of the stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $89.78, for a total value of $99,027.34. Following the completion of the sale, the chief financial officer now directly owns 79,344 shares of the company’s stock, valued at $7,123,504.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Balu Balakrishnan sold 11,750 shares of the stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $83.75, for a total transaction of $984,062.50. Following the completion of the sale, the chief executive officer now directly owns 604,324 shares of the company’s stock, valued at $50,612,135. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,292 shares of company stock valued at $4,849,258. 1.70% of the stock is currently owned by corporate insiders.

About Power Integrations

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Power Integrations, Inc designs and develops mixed-signal integrated circuits and other electronic components and circuitry used in high-voltage power conversion. Its products include AC-DC Conversion, LED Drivers, Gate Drivers, Motor Drivers, and Automotive Solutions. The company was founded by Klas Eklund, Art Fury and Steven J.