Power Integrations Inc (NASDAQ:POWI) shares hit a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $126.29 and last traded at $125.63, with a volume of 259300 shares traded. The stock had previously closed at $123.10.

The semiconductor company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. Power Integrations had a return on equity of 9.66% and a net margin of 45.94%. The business had revenue of $106.83 million during the quarter, compared to the consensus estimate of $106.20 million.

POWI has been the subject of a number of research reports. Stifel Nicolaus upped their price objective on shares of Power Integrations from $105.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Loop Capital reaffirmed a “buy” rating and issued a $117.00 price target on shares of Power Integrations in a research report on Monday, May 18th. Zacks Investment Research cut shares of Power Integrations from a “hold” rating to a “sell” rating in a research report on Thursday, July 16th. Deutsche Bank upped their price target on shares of Power Integrations from $93.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, BidaskClub raised shares of Power Integrations from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $114.50.

In related news, VP Doug Bailey sold 500 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $121.00, for a total transaction of $60,500.00. Following the completion of the sale, the vice president now owns 59,861 shares of the company’s stock, valued at $7,243,181. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David Mh Matthews sold 2,697 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $112.59, for a total transaction of $303,655.23. Following the sale, the vice president now directly owns 55,779 shares of the company’s stock, valued at approximately $6,280,157.61. The disclosure for this sale can be found here. Insiders have sold 55,099 shares of company stock valued at $6,093,654 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc raised its holdings in shares of Power Integrations by 0.8% in the first quarter. Legal & General Group Plc now owns 86,681 shares of the semiconductor company’s stock worth $7,657,000 after buying an additional 703 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Power Integrations by 4.5% in the first quarter. Geode Capital Management LLC now owns 478,061 shares of the semiconductor company’s stock worth $42,226,000 after buying an additional 20,804 shares during the last quarter. AXA purchased a new position in shares of Power Integrations in the first quarter worth $1,643,000. Parametric Portfolio Associates LLC raised its holdings in shares of Power Integrations by 11.7% in the first quarter. Parametric Portfolio Associates LLC now owns 123,138 shares of the semiconductor company’s stock worth $10,877,000 after buying an additional 12,875 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Power Integrations by 1.8% in the first quarter. Envestnet Asset Management Inc. now owns 82,148 shares of the semiconductor company’s stock worth $7,256,000 after buying an additional 1,489 shares during the last quarter. 98.07% of the stock is owned by institutional investors and hedge funds.

The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 57.63 and a beta of 1.04. The stock’s 50 day moving average price is $119.07 and its two-hundred day moving average price is $103.77.

About Power Integrations (NASDAQ:POWI)

Power Integrations, Inc designs, develops, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 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, and other consumer and industrial applications, as well as light-emitting diode lighting.

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