Power Integrations, Inc. (NASDAQ:POWI) Sees Large Growth in Short Interest

Power Integrations, Inc. (NASDAQ:POWI) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 4,000,000 shares, a growth of 21.2% from the October 15th total of 3,300,000 shares. Based on an average daily volume of 419,700 shares, the days-to-cover ratio is currently 9.5 days. Approximately 7.2% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Benchmark reissued a “buy” rating and issued a $78.00 target price on shares of Power Integrations in a research note on Friday, November 8th. Northland Capmk upgraded Power Integrations from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Stifel Nicolaus reissued a “buy” rating and set a $95.00 price objective (down previously from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Insider Activity at Power Integrations

In other Power Integrations news, VP Sunil Gupta sold 2,127 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total value of $140,169.30. Following the sale, the vice president now directly owns 51,899 shares in the company, valued at approximately $3,420,144.10. This trade represents a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Doug Bailey sold 8,549 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $64.96, for a total transaction of $555,343.04. Following the completion of the transaction, the vice president now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 10,947 shares of company stock worth $713,190. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in POWI. Wellington Management Group LLP increased its holdings in Power Integrations by 25.6% during the third quarter. Wellington Management Group LLP now owns 2,340,328 shares of the semiconductor company’s stock worth $150,062,000 after buying an additional 476,986 shares during the last quarter. Copeland Capital Management LLC grew its position in shares of 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 acquiring an additional 213,392 shares during the period. M&G PLC acquired a new position in shares of Power Integrations during the 3rd quarter worth about $9,820,000. D. E. Shaw & Co. Inc. raised its holdings in shares of 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 purchasing an additional 131,735 shares during the period. Finally, Barclays PLC raised its holdings in shares of Power Integrations by 173.4% in the 3rd quarter. Barclays PLC now owns 180,754 shares of the semiconductor company’s stock valued at $11,591,000 after purchasing an additional 114,644 shares during the period.

Power Integrations Stock Down 3.3 %

Shares of POWI stock traded down $2.07 during trading on Friday, reaching $60.04. The company’s stock had a trading volume of 350,188 shares, compared to its average volume of 414,179. Power Integrations has a one year low of $56.63 and a one year high of $89.68. The business has a fifty day moving average price of $62.41 and a 200-day moving average price of $67.91. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 90.97, a price-to-earnings-growth ratio of 6.50 and a beta of 1.10.

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

Power Integrations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.40%. This is an increase from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 29th. Power Integrations’s dividend payout ratio (DPR) is currently 121.21%.

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.