Handelsbanken Fonder AB grew its holdings in Power Integrations Inc (NASDAQ:POWI) by 213.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 194,476 shares of the semiconductor company’s stock after buying an additional 132,476 shares during the quarter. Handelsbanken Fonder AB owned 0.66% of Power Integrations worth $13,292,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in POWI. We Are One Seven LLC grew its holdings in shares of Power Integrations by 173.8% in the 1st quarter. We Are One Seven LLC now owns 1,536 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 975 shares during the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of Power Integrations in the 4th quarter worth about $224,000. Quantbot Technologies LP bought a new stake in shares of Power Integrations in the 1st quarter worth about $209,000. Citigroup Inc. grew its holdings in shares of Power Integrations by 51.5% in the 1st quarter. Citigroup Inc. now owns 3,152 shares of the semiconductor company’s stock worth $215,000 after purchasing an additional 1,071 shares during the last quarter. Finally, Silvant Capital Management LLC bought a new stake in shares of Power Integrations in the 1st quarter worth about $268,000. Institutional investors own 96.71% of the company’s stock.
In other Power Integrations news, Director Nicholas Brathwaite sold 4,166 shares of the stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $80.00, for a total transaction of $333,280.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William George sold 400 shares of the stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $74.00, for a total transaction of $29,600.00. Following the sale, the director now directly owns 17,191 shares in the company, valued at approximately $1,272,134. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,567 shares of company stock worth $2,514,487. Insiders own 4.00% of the company’s stock.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Thursday, April 26th. The semiconductor company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.09. Power Integrations had a net margin of 6.44% and a return on equity of 12.69%. The firm had revenue of $103.10 million for the quarter, compared to analyst estimates of $102.78 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s revenue was down 1.5% on a year-over-year basis. equities analysts forecast that Power Integrations Inc will post 2.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Thursday, May 31st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday, May 30th. Power Integrations’s dividend payout ratio is currently 28.07%.
Several equities research analysts have recently weighed in on POWI shares. TheStreet raised shares of Power Integrations from a “c+” rating to a “b-” rating in a report on Wednesday, May 23rd. Drexel Hamilton set a $84.00 target price on shares of Power Integrations and gave the stock a “buy” rating in a report on Friday, April 27th. ValuEngine raised shares of Power Integrations from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. BidaskClub raised shares of Power Integrations from a “hold” rating to a “buy” rating in a report on Thursday, May 31st. Finally, Loop Capital started coverage on shares of Power Integrations in a report on Thursday. They issued a “buy” rating and a $89.00 target price on the stock. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $82.67.
Power Integrations 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 offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, liquid-crystal-display monitors, main and standby power supplies for desktop computers and TVs, light-emitting diode lamps, and other consumer and industrial applications.
Want to see what other hedge funds are holding POWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Power Integrations Inc (NASDAQ:POWI).
Receive News & Ratings for Power Integrations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Power Integrations and related companies with MarketBeat.com's FREE daily email newsletter.