Short Interest in Power Integrations, Inc. (NASDAQ:POWI) Expands By 15.9%

Power Integrations, Inc. (NASDAQ:POWI) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 3,790,000 shares, an increase of 15.9% from the February 13th total of 3,270,000 shares. Approximately 6.8% of the shares of the company are short sold. Based on an average daily volume of 473,500 shares, the days-to-cover ratio is currently 8.0 days.

Wall Street Analyst Weigh In

Several research firms have issued reports on POWI. StockNews.com lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. 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. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Insider Activity at Power Integrations

In other Power Integrations news, CEO Balu Balakrishnan sold 12,507 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $60.64, for a total value of $758,424.48. Following the sale, the chief executive officer now directly owns 600,002 shares in the company, valued at approximately $36,384,121.28. The trade was a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Clifford Walker sold 1,131 shares of Power Integrations stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $58.01, for a total transaction of $65,609.31. Following the completion of the transaction, the vice president now directly owns 143,718 shares in the company, valued at $8,337,081.18. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,544 shares of company stock worth $2,433,105 over the last ninety days. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Power Integrations

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP increased its stake in shares of Power Integrations by 25.6% in the third quarter. Wellington Management Group LLP now owns 2,340,328 shares of the semiconductor company’s stock worth $150,062,000 after acquiring an additional 476,986 shares during the last quarter. Norges Bank acquired a new position in Power Integrations in the 4th quarter worth about $19,663,000. Federated Hermes Inc. raised its stake in shares of Power Integrations by 40.0% during the 4th quarter. Federated Hermes Inc. now owns 711,017 shares of the semiconductor company’s stock worth $43,870,000 after purchasing an additional 203,309 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Power Integrations by 10.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,920,459 shares of the semiconductor company’s stock valued at $118,492,000 after buying an additional 178,896 shares during the last quarter. Finally, Snyder Capital Management L P grew its stake in shares of Power Integrations by 22.3% in the 4th quarter. Snyder Capital Management L P now owns 882,518 shares of the semiconductor company’s stock valued at $54,451,000 after buying an additional 160,784 shares in the last quarter.

Power Integrations Stock Performance

Shares of NASDAQ:POWI opened at $55.59 on Friday. The firm has a 50 day simple moving average of $60.49 and a 200 day simple moving average of $62.00. Power Integrations has a 52 week low of $54.55 and a 52 week high of $79.13. The company has a market cap of $3.16 billion, a PE ratio of 97.53, a price-to-earnings-growth ratio of 4.08 and a beta of 1.11.

Power Integrations (NASDAQ:POWI) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.16 earnings per share (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%. On average, equities analysts predict that Power Integrations will post 0.93 earnings per share for the current year.

Power Integrations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.51%. Power Integrations’s payout ratio is presently 147.37%.

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.