Lisanti Capital Growth LLC Makes New $1.94 Million Investment in Power Integrations, Inc. (NASDAQ:POWI)

Lisanti Capital Growth LLC bought a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,575 shares of the semiconductor company’s stock, valued at approximately $1,936,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James & Associates increased its position in Power Integrations by 11.9% in the third quarter. Raymond James & Associates now owns 14,030 shares of the semiconductor company’s stock worth $1,071,000 after buying an additional 1,494 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Power Integrations by 18.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,268 shares of the semiconductor company’s stock valued at $860,000 after purchasing an additional 1,791 shares during the last quarter. Advisor Partners II LLC boosted its stake in Power Integrations by 80.5% during the 3rd quarter. Advisor Partners II LLC now owns 4,097 shares of the semiconductor company’s stock valued at $313,000 after purchasing an additional 1,827 shares during the period. Park Avenue Securities LLC bought a new position in Power Integrations in the 3rd quarter worth about $322,000. Finally, Inspire Investing LLC increased its stake in shares of Power Integrations by 18.5% in the third quarter. Inspire Investing LLC now owns 4,547 shares of the semiconductor company’s stock valued at $347,000 after purchasing an additional 711 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. TD Cowen boosted their price target on Power Integrations from $65.00 to $80.00 and gave the stock a “market perform” rating in a research report on Friday, February 9th. Benchmark raised their price target on Power Integrations from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Northland Securities raised shares of Power Integrations from an “under perform” rating to a “market perform” rating and set a $67.00 price objective for the company in a report on Monday, February 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $87.40.

Power Integrations Stock Up 0.7 %

NASDAQ POWI traded up $0.50 on Tuesday, reaching $70.17. 711,599 shares of the stock traded hands, compared to its average volume of 400,942. Power Integrations, Inc. has a 12 month low of $62.13 and a 12 month high of $99.60. The firm’s fifty day simple moving average is $69.47 and its 200 day simple moving average is $74.24. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 71.82 and a beta of 1.20.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Thursday, February 8th. The semiconductor company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.09. Power Integrations had a return on equity of 6.46% and a net margin of 12.54%. The business had revenue of $89.51 million during the quarter, compared to analysts’ expectations of $90.21 million. As a group, equities research analysts forecast that Power Integrations, Inc. will post 0.65 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were paid a $0.20 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.14%. Power Integrations’s dividend payout ratio is currently 82.47%.

Insider Buying and Selling

In related news, CEO Balu Balakrishnan sold 9,799 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $68.61, for a total transaction of $672,309.39. Following the completion of the sale, the chief executive officer now directly owns 552,161 shares in the company, valued at $37,883,766.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider David Mh Matthews sold 1,153 shares of Power Integrations stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $69.04, for a total value of $79,603.12. Following the transaction, the insider now owns 68,229 shares of the company’s stock, valued at approximately $4,710,530.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Balu Balakrishnan sold 9,799 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $68.61, for a total value of $672,309.39. Following the sale, the chief executive officer now owns 552,161 shares in the company, valued at approximately $37,883,766.21. The disclosure for this sale can be found here. Insiders have sold 48,106 shares of company stock worth $3,518,339 in the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

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.