Citigroup Inc. Acquires 34,707 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Citigroup Inc. increased its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 158.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,612 shares of the semiconductor company’s stock after purchasing an additional 34,707 shares during the period. Citigroup Inc. owned about 0.10% of Power Integrations worth $3,630,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of POWI. Copeland Capital Management LLC boosted its stake in Power Integrations by 21.5% in 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. M&G PLC acquired a new stake in Power Integrations in the 3rd quarter valued at $9,820,000. D. E. Shaw & Co. Inc. boosted its stake in Power Integrations by 40.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 457,470 shares of the semiconductor company’s stock valued at $32,110,000 after buying an additional 131,735 shares in the last quarter. Millennium Management LLC boosted its stake in Power Integrations by 23.4% in the 2nd quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock valued at $41,634,000 after buying an additional 112,595 shares in the last quarter. Finally, Congress Asset Management Co. boosted its stake in 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 buying an additional 96,609 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on POWI shares. Northland Securities raised Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Monday, August 12th. Northland Capmk raised Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Susquehanna cut their price target on Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, Benchmark reiterated a “buy” rating and issued a $78.00 price objective on shares of Power Integrations in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Power Integrations presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.00.

Insider Transactions at Power Integrations

In other Power Integrations news, VP Doug Bailey sold 8,549 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $64.96, for a total value of $555,343.04. Following the sale, the vice president now owns 86,375 shares of the company’s stock, valued at $5,610,920. This trade represents a 9.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Clifford Walker sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $64.36, for a total value of $643,600.00. Following the transaction, the vice president now directly owns 130,934 shares in the company, valued at approximately $8,426,912.24. This represents a 7.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,655 shares of company stock valued at $1,205,566 over the last ninety days. 1.70% of the stock is owned by company insiders.

Power Integrations Stock Down 3.3 %

POWI stock opened at $63.89 on Thursday. The company has a market cap of $3.63 billion, a PE ratio of 96.80, a price-to-earnings-growth ratio of 7.27 and a beta of 1.12. Power Integrations, Inc. has a 52 week low of $56.63 and a 52 week high of $89.68. The business has a 50-day simple moving average of $63.63 and a 200 day simple moving average of $67.03.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The company had revenue of $115.84 million for the quarter, compared to analysts’ expectations of $114.83 million. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 earnings per share. On average, analysts anticipate that Power Integrations, Inc. will post 0.54 EPS for the current fiscal year.

Power Integrations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.31%. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 29th. Power Integrations’s dividend payout ratio is presently 127.27%.

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.