KLP Kapitalforvaltning AS Takes $697,000 Position in Power Integrations, Inc. (NASDAQ:POWI)

KLP Kapitalforvaltning AS acquired a new stake in Power Integrations, Inc. (NASDAQ:POWI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,300 shares of the semiconductor company’s stock, valued at approximately $697,000.

Other large investors have also bought and sold shares of the company. Citigroup Inc. boosted its position in shares of Power Integrations by 158.4% during the 3rd quarter. Citigroup Inc. now owns 56,612 shares of the semiconductor company’s stock valued at $3,630,000 after purchasing an additional 34,707 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Power Integrations by 0.4% during the third quarter. The Manufacturers Life Insurance Company now owns 103,451 shares of the semiconductor company’s stock worth $6,632,000 after buying an additional 419 shares in the last quarter. FMR LLC grew its position in Power Integrations by 164.6% in the third quarter. FMR LLC now owns 17,247 shares of the semiconductor company’s stock worth $1,106,000 after buying an additional 10,728 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Power Integrations by 89.6% in the third quarter. BNP Paribas Financial Markets now owns 57,165 shares of the semiconductor company’s stock valued at $3,665,000 after buying an additional 27,016 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its position in shares of Power Integrations by 12.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 4,495 shares of the semiconductor company’s stock valued at $288,000 after acquiring an additional 498 shares during the last quarter.

Power Integrations Trading Up 1.5 %

Shares of NASDAQ POWI opened at $51.24 on Wednesday. Power Integrations, Inc. has a one year low of $48.93 and a one year high of $79.13. The business has a 50-day moving average price of $59.22 and a two-hundred day moving average price of $61.67. The firm has a market capitalization of $2.91 billion, a PE ratio of 89.90, a PEG ratio of 4.08 and a beta of 1.11.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.16 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%. Research analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.64%. Power Integrations’s dividend payout ratio is 147.37%.

Insider Activity at Power Integrations

In other news, CEO Balu Balakrishnan sold 12,507 shares of Power Integrations stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $60.64, for a total transaction of $758,424.48. Following the completion of the sale, the chief executive officer now directly owns 600,002 shares in the company, valued at $36,384,121.28. The trade was a 2.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Radu Barsan sold 10,393 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $66.08, for a total value of $686,769.44. Following the completion of the sale, the vice president now directly owns 45,295 shares of the company’s stock, valued at approximately $2,993,093.60. The trade was a 18.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,544 shares of company stock valued at $2,433,105. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on POWI shares. Benchmark reaffirmed a “buy” rating and set a $78.00 target price on shares of Power Integrations in a research report on Friday, February 7th. StockNews.com raised shares of Power Integrations from a “hold” rating to a “buy” rating in a research note on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $78.00.

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.