Norges Bank Acquires Shares of 318,689 Power Integrations, Inc. (NASDAQ:POWI)

Norges Bank bought a new position in Power Integrations, Inc. (NASDAQ:POWI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 318,689 shares of the semiconductor company’s stock, valued at approximately $19,663,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in POWI. Smartleaf Asset Management LLC increased its holdings in shares of Power Integrations by 110.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 537 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 282 shares in the last quarter. Versant Capital Management Inc raised its position in Power Integrations by 1,618.2% in the 4th quarter. Versant Capital Management Inc now owns 567 shares of the semiconductor company’s stock worth $35,000 after buying an additional 534 shares during the last quarter. UMB Bank n.a. raised its position in Power Integrations by 43.9% in the 4th quarter. UMB Bank n.a. now owns 629 shares of the semiconductor company’s stock worth $39,000 after buying an additional 192 shares during the last quarter. KBC Group NV boosted its holdings in shares of Power Integrations by 43.0% during the 4th quarter. KBC Group NV now owns 2,549 shares of the semiconductor company’s stock valued at $157,000 after acquiring an additional 767 shares during the last quarter. Finally, Inspire Advisors LLC bought a new stake in shares of Power Integrations in the fourth quarter worth approximately $210,000.

Insider Transactions at Power Integrations

In other Power Integrations news, CFO Sandeep Nayyar sold 5,152 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $60.75, for a total transaction of $312,984.00. Following the completion of the sale, the chief financial officer now directly owns 110,394 shares of the company’s stock, valued at $6,706,435.50. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Clifford Walker sold 1,088 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $50.89, for a total transaction of $55,368.32. Following the transaction, the vice president now owns 141,765 shares of the company’s stock, valued at approximately $7,214,420.85. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,105 shares of company stock valued at $3,075,198 over the last three months. Corporate insiders own 1.70% of the company’s stock.

Power Integrations Stock Performance

Shares of Power Integrations stock opened at $43.68 on Monday. The stock has a market cap of $2.48 billion, a P/E ratio of 76.63, a P/E/G ratio of 4.08 and a beta of 1.32. The stock’s fifty day moving average is $58.27 and its 200 day moving average is $61.40. Power Integrations, Inc. has a one year low of $41.19 and a one year high of $79.13.

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

Power Integrations Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a $0.21 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.92%. Power Integrations’s payout ratio is currently 147.37%.

Wall Street Analysts Forecast Growth

POWI has been the topic of a number of research analyst reports. Benchmark restated a “buy” rating and set a $78.00 price objective on shares of Power Integrations in a research report on Friday, February 7th. StockNews.com downgraded Power Integrations from a “buy” rating to a “hold” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Power Integrations presently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Power Integrations 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.