Heritage Wealth Management LLC Grows Stake in Power Integrations, Inc. (NASDAQ:POWI)

Oct 03, 2023

Heritage Wealth Management LLC lifted its position in shares of Power Integrations, Inc. (NASDAQ:POWI - Get Rating) by 3,712.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,414 shares of the semiconductor company's stock after acquiring an additional 5,272 shares during the period. Heritage Wealth Management LLC's holdings in Power Integrations were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in POWI. Barclays PLC increased its holdings in shares of Power Integrations by 33.2% in the 4th quarter. Barclays PLC now owns 33,015 shares of the semiconductor company's stock worth $2,369,000 after purchasing an additional 8,238 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Power Integrations by 0.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 86,911 shares of the semiconductor company's stock valued at $6,233,000 after buying an additional 355 shares during the period. Credit Suisse AG increased its position in Power Integrations by 14.2% during the fourth quarter. Credit Suisse AG now owns 164,078 shares of the semiconductor company's stock valued at $11,768,000 after acquiring an additional 20,399 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Power Integrations by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,189,449 shares of the semiconductor company's stock valued at $85,307,000 after acquiring an additional 4,118 shares during the period. Finally, American Century Companies Inc. boosted its position in Power Integrations by 50.7% in the fourth quarter. American Century Companies Inc. now owns 372,421 shares of the semiconductor company's stock worth $26,710,000 after purchasing an additional 125,358 shares during the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

POWI stock opened at $86.82 on Monday. The company has a market capitalization of $4.98 billion, a PE ratio of 38.95 and a beta of 1.17. The company's fifty day moving average price is $80.57 and its 200-day moving average price is $80.30. Power Integrations, Inc. has a one year low of $59.16 and a one year high of $91.98.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, May 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.88%. Power Integrations's payout ratio is 33.33%.

In other news, CEO Balu Balakrishnan sold 21,674 shares of the company's stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $89.85, for a total transaction of $1,947,408.90. Following the sale, the chief executive officer now directly owns 572,885 shares of the company's stock, valued at approximately $51,473,717.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Balu Balakrishnan sold 21,674 shares of the business's stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $89.85, for a total value of $1,947,408.90. Following the sale, the chief executive officer now directly owns 572,885 shares in the company, valued at approximately $51,473,717.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Sunil Gupta sold 4,000 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $89.73, for a total transaction of $358,920.00. Following the completion of the transaction, the vice president now directly owns 46,444 shares of the company's stock, valued at approximately $4,167,420.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,820 shares of company stock worth $5,374,798. Corporate insiders own 1.70% of the company's stock.

Several brokerages have recently weighed in on POWI. Cowen increased their price objective on shares of Power Integrations from $65.00 to $85.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 7th. Benchmark raised their price objective on Power Integrations from $75.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, February 8th. Susquehanna boosted their price objective on Power Integrations from $95.00 to $100.00 in a research note on Friday, May 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Power Integrations from $75.00 to $80.00 in a report on Friday, May 5th. Finally, StockNews.com started coverage on shares of Power Integrations in a report on Thursday, May 18th. They set a "hold" rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Power Integrations currently has a consensus rating of "Moderate Buy" and an average target price of $86.43.

Power Integrations, Inc designs and develops mixed-signal integrated circuits and other electronic components and circuitry used in high-voltage power conversion. Its products include AC-DC Conversion, LED Drivers, Gate Drivers, Motor Drivers, and Automotive Solutions. The company was founded by Klas Eklund, Art Fury and Steven J.

Want to see what other hedge funds are holding POWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Power Integrations, Inc. (NASDAQ:POWI - Get Rating).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Power Integrations, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Power Integrations wasn't on the list.

While Power Integrations currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by entering your email address below.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.