Power Integrations, Inc. (NASDAQ:POWI) Short Interest Up 15.9% in February

by · The Cerbat Gem

Power Integrations, Inc. (NASDAQ:POWIGet Free Report) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 3,790,000 shares, a growth of 15.9% from the February 13th total of 3,270,000 shares. Based on an average daily trading volume, of 473,500 shares, the short-interest ratio is presently 8.0 days. Approximately 6.8% of the company’s shares are short sold.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. StockNews.com downgraded Power Integrations from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Benchmark restated a “buy” rating and set a $78.00 target price on shares of Power Integrations in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.00.

Get Our Latest Stock Analysis on POWI

Power Integrations Stock Down 2.2 %

Shares of NASDAQ:POWI traded down $1.27 during mid-day trading on Thursday, reaching $55.90. 116,048 shares of the stock were exchanged, compared to its average volume of 409,967. The stock’s 50 day simple moving average is $60.60 and its 200-day simple moving average is $62.04. Power Integrations has a one year low of $54.55 and a one year high of $79.13. The company has a market cap of $3.18 billion, a P/E ratio of 98.03, a P/E/G ratio of 4.08 and a beta of 1.11.

Power Integrations (NASDAQ:POWIGet Free Report) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.12). Power Integrations had a net margin of 7.69% and a return on equity of 4.48%. Analysts anticipate that Power Integrations will post 0.93 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, February 28th. This represents a $0.84 annualized dividend and a yield of 1.50%. Power Integrations’s dividend payout ratio (DPR) is presently 147.37%.

Insider Activity at Power Integrations

In related news, CEO Balu Balakrishnan sold 12,507 shares of Power Integrations stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $60.64, for a total transaction of $758,424.48. Following the transaction, the chief executive officer now owns 600,002 shares of the company’s stock, valued at $36,384,121.28. This trade represents a 2.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Nayyar sold 5,152 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $60.75, for a total transaction of $312,984.00. Following the completion of the sale, the chief financial officer now directly owns 110,394 shares of the company’s stock, valued at $6,706,435.50. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,544 shares of company stock worth $2,433,105 over the last ninety days. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Power Integrations

A number of large investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Power Integrations by 214.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,860 shares of the semiconductor company’s stock valued at $2,684,000 after acquiring an additional 28,548 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Power Integrations in the 4th quarter valued at about $288,000. UMB Bank n.a. increased its stake in shares of Power Integrations by 43.9% during the 4th quarter. UMB Bank n.a. now owns 629 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 192 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Power Integrations by 89.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 57,165 shares of the semiconductor company’s stock valued at $3,665,000 after purchasing an additional 27,016 shares during the period. Finally, Park Avenue Securities LLC acquired a new stake in Power Integrations in the 4th quarter valued at about $227,000.

Power Integrations Company Profile

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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.

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