Power Integrations, Inc. (NASDAQ:POWI) Shares Bought by Barclays PLC

Posted by Defense World Staff on Aug 13th, 2023

Barclays PLC boosted its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI – Free Report) by 48.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,007 shares of the semiconductor company’s stock after acquiring an additional 15,992 shares during the quarter. Barclays PLC owned about 0.09% of Power Integrations worth $4,147,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley grew its stake in shares of Power Integrations by 109.7% in the fourth quarter. Morgan Stanley now owns 1,024,483 shares of the semiconductor company’s stock valued at $73,476,000 after buying an additional 535,900 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Power Integrations by 23.3% in the fourth quarter. JPMorgan Chase & Co. now owns 2,717,189 shares of the semiconductor company’s stock valued at $194,876,000 after buying an additional 514,149 shares in the last quarter. Norges Bank acquired a new stake in shares of Power Integrations in the fourth quarter valued at $35,392,000. Robeco Schweiz AG grew its stake in shares of Power Integrations by 49.3% in the first quarter. Robeco Schweiz AG now owns 1,176,650 shares of the semiconductor company’s stock valued at $109,052,000 after buying an additional 388,650 shares in the last quarter. Finally, Wasatch Advisors Inc. acquired a new stake in shares of Power Integrations in the first quarter valued at $27,617,000. Institutional investors and hedge funds own 99.82% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Balu Balakrishnan sold 21,674 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $89.85, for a total value of $1,947,408.90. Following the completion of the sale, the chief executive officer now directly owns 572,885 shares of the company’s stock, valued at approximately $51,473,717.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Nicholas Brathwaite sold 3,516 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.08, for a total value of $299,141.28. Following the completion of the sale, the director now directly owns 42,794 shares of the company’s stock, valued at approximately $3,640,913.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Balu Balakrishnan sold 21,674 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $89.85, for a total value of $1,947,408.90. Following the completion of the sale, the chief executive officer now directly owns 572,885 shares of the company’s stock, valued at $51,473,717.25. The disclosure for this sale can be found here. Insiders sold 51,924 shares of company stock valued at $4,602,005 in the last ninety days. Insiders own 1.70% of the company’s stock.

Power Integrations Price Performance

Shares of NASDAQ POWI opened at $83.21 on Friday. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 52.66 and a beta of 1.18. The business has a 50-day moving average of $91.60 and a two-hundred day moving average of $85.50. Power Integrations, Inc. has a 1 year low of $59.16 and a 1 year high of $99.60.

Power Integrations (NASDAQ:POWI – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The company had revenue of $123.22 million during the quarter, compared to the consensus estimate of $122.77 million. Power Integrations had a return on equity of 12.00% and a net margin of 17.58%. As a group, equities research analysts expect that Power Integrations, Inc. will post 1.17 earnings per share for the current year.

Power Integrations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Wednesday, August 30th. Power Integrations’s dividend payout ratio (DPR) is 48.10%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on POWI. Stifel Nicolaus lifted their price objective on Power Integrations from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Northland Securities cut Power Integrations from an “outperform” rating to a “market perform” rating and set a $82.00 price objective for the company. in a research note on Monday, July 17th. Susquehanna decreased their target price on Power Integrations from $105.00 to $100.00 and set a “positive” rating for the company in a report on Friday, August 4th. Deutsche Bank Aktiengesellschaft lifted their target price on Power Integrations from $75.00 to $80.00 in a report on Friday, May 5th. Finally, StockNews.com began coverage on Power Integrations in a report on Thursday, May 18th. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $88.14.

Read Our Latest Stock Report on Power Integrations

Power Integrations Profile

(Free Report)

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.