Power Integrations, Inc. (NASDAQ:POWI) Sees Large Growth in Short Interest

Power Integrations, Inc. (NASDAQ:POWI) was the target of a large growth in short interest during 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. Approximately 7.2% of the shares of the company are sold short. Based on an average daily volume of 419,700 shares, the days-to-cover ratio is currently 9.5 days.

Power Integrations Trading Down 3.3 %

Power Integrations stock traded down $2.07 during mid-day trading on Friday, reaching $60.04. The company had a trading volume of 350,188 shares, compared to its average volume of 414,179. The business has a fifty day simple moving average of $62.41 and a 200 day simple moving average of $67.91. The company has a market cap of $3.41 billion, a P/E ratio of 90.97, a P/E/G ratio of 6.50 and a beta of 1.10. Power Integrations has a fifty-two week low of $56.63 and a fifty-two week high of $89.68.

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

Power Integrations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.40%. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 29th. Power Integrations’s payout ratio is presently 121.21%.

Insider Buying and Selling at Power Integrations

In other news, VP Sunil Gupta sold 2,127 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $65.90, for a total value of $140,169.30. Following the transaction, the vice president now owns 51,899 shares of the company’s stock, valued at approximately $3,420,144.10. This represents a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Doug Bailey sold 8,549 shares of Power Integrations stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $64.96, for a total value of $555,343.04. Following the sale, the vice president now directly owns 86,375 shares of the company’s stock, valued at approximately $5,610,920. The trade was a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,947 shares of company stock valued at $713,190 in the last quarter. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Power Integrations

Several large investors have recently modified their holdings of POWI. GAMMA Investing LLC raised its position in Power Integrations by 69.8% during the 2nd quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Mather Group LLC. grew its position in shares of Power Integrations by 22.8% during the 2nd quarter. Mather Group LLC. now owns 868 shares of the semiconductor company’s stock worth $62,000 after buying an additional 161 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Power Integrations in the 2nd quarter valued at $63,000. Truvestments Capital LLC acquired a new position in shares of Power Integrations during the 3rd quarter valued at $87,000. Finally, Quest Partners LLC boosted its stake in Power Integrations by 23.5% during the second quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 240 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on POWI. StockNews.com upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. TD Cowen decreased their price objective on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Northland Securities upgraded 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. Finally, Benchmark reaffirmed a “buy” rating and issued a $78.00 target price on shares of Power Integrations in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.00.

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.