Short Interest in Power Integrations, Inc. (NASDAQ:POWI) Expands By 21.2%

Power Integrations, Inc. (NASDAQ:POWI) was the recipient of a significant growth in short interest in 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 trading volume, of 419,700 shares, the days-to-cover ratio is presently 9.5 days. Currently, 7.2% of the company’s shares are short sold.

Insider Buying and Selling

In related news, VP Doug Bailey sold 8,549 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 86,375 shares of the company’s stock, valued at approximately $5,610,920. This represents a 9.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sunil Gupta sold 2,127 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total transaction of $140,169.30. Following the completion of the transaction, the vice president now owns 51,899 shares in the company, valued at $3,420,144.10. The trade was a 3.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,947 shares of company stock worth $713,190. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Power Integrations

Hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its stake in Power Integrations by 29.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,039 shares of the semiconductor company’s stock valued at $289,000 after acquiring an additional 914 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Power Integrations by 6.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,287 shares of the semiconductor company’s stock valued at $450,000 after buying an additional 367 shares during the last quarter. SG Americas Securities LLC bought a new position in Power Integrations in the 1st quarter worth $644,000. Entropy Technologies LP acquired a new position in Power Integrations during the 1st quarter worth $492,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Power Integrations by 32.8% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 211,362 shares of the semiconductor company’s stock worth $15,123,000 after acquiring an additional 52,179 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Susquehanna decreased their price target on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a research report on Thursday, November 7th. Northland Capmk upgraded Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. TD Cowen reduced their price target on Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Finally, Northland Securities upgraded shares of Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Monday, August 12th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Power Integrations Trading Down 3.3 %

POWI traded down $2.07 on Friday, hitting $60.04. 350,188 shares of the company’s stock were exchanged, compared to its average volume of 414,179. The stock has a fifty day moving average of $62.41 and a two-hundred day moving average of $67.91. Power Integrations has a twelve month low of $56.63 and a twelve month high of $89.68. The firm has a market cap of $3.41 billion, a PE ratio of 90.97, a P/E/G ratio of 6.50 and a beta of 1.10.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. The company had revenue of $115.84 million during the quarter, compared to the consensus estimate of $114.83 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, analysts predict that Power Integrations will post 0.54 EPS for the current year.

Power Integrations Increases Dividend

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