Power Integrations (NASDAQ:POWI) Shares Gap Up to $60.36

Shares of Power Integrations, Inc. (NASDAQ:POWI) gapped up before the market opened on Monday . The stock had previously closed at $60.36, but opened at $62.00. Power Integrations shares last traded at $61.94, with a volume of 50,154 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on POWI shares. Susquehanna reduced their target price on Power Integrations from $95.00 to $80.00 and set a “positive” rating for the company in a research note on Thursday. StockNews.com downgraded Power Integrations from a “hold” rating to a “sell” rating in a research report on Thursday. TD Cowen dropped their price target on Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Benchmark reduced their price objective on Power Integrations from $90.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Northland Securities raised shares of Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Power Integrations presently has a consensus rating of “Hold” and a consensus price target of $78.50.

Power Integrations Price Performance

The company has a market capitalization of $3.45 billion, a PE ratio of 65.61, a P/E/G ratio of 3.58 and a beta of 1.11. The business’s 50 day simple moving average is $71.66 and its 200 day simple moving average is $72.09.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. Power Integrations had a net margin of 10.38% and a return on equity of 4.82%. The company had revenue of $106.20 million during the quarter, compared to analyst estimates of $105.02 million. During the same quarter last year, the firm posted $0.27 earnings per share. Power Integrations’s revenue was down 13.8% compared to the same quarter last year. As a group, analysts anticipate that Power Integrations, Inc. will post 0.73 EPS for the current year.

Power Integrations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 30th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, August 30th. Power Integrations’s dividend payout ratio (DPR) is 86.96%.

Insiders Place Their Bets

In other news, insider David Mh Matthews sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $76.88, for a total value of $384,400.00. Following the completion of the transaction, the insider now owns 63,229 shares of the company’s stock, valued at $4,861,045.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider David Mh Matthews sold 5,000 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $76.88, for a total value of $384,400.00. Following the sale, the insider now directly owns 63,229 shares in the company, valued at $4,861,045.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Yang Chiah Yee sold 1,412 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $73.75, for a total value of $104,135.00. Following the transaction, the vice president now directly owns 45,436 shares of the company’s stock, valued at $3,350,905. The disclosure for this sale can be found here. Insiders have sold 25,424 shares of company stock worth $1,967,214 over the last three months. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Power Integrations

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Power Integrations by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 6,528,564 shares of the semiconductor company’s stock valued at $467,119,000 after purchasing an additional 105,034 shares during the period. Capital International Investors lifted its stake in shares of Power Integrations by 6.5% in the 1st quarter. Capital International Investors now owns 1,316,934 shares of the semiconductor company’s stock worth $94,227,000 after acquiring an additional 80,775 shares during the period. Ceredex Value Advisors LLC boosted its holdings in shares of Power Integrations by 4.8% in the second quarter. Ceredex Value Advisors LLC now owns 756,282 shares of the semiconductor company’s stock valued at $53,083,000 after acquiring an additional 34,400 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Power Integrations by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 719,948 shares of the semiconductor company’s stock worth $59,115,000 after purchasing an additional 10,740 shares during the period. Finally, Vontobel Holding Ltd. raised its stake in shares of Power Integrations by 6.4% during the 4th quarter. Vontobel Holding Ltd. now owns 521,360 shares of the semiconductor company’s stock worth $42,809,000 after buying an additional 31,260 shares in the last quarter.

About Power Integrations

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.