Corebridge Financial Inc. Reduces Stake in Power Integrations, Inc. (NASDAQ:POWI)

Corebridge Financial Inc. cut its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 5.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,089 shares of the semiconductor company’s stock after selling 4,956 shares during the quarter. Corebridge Financial Inc. owned 0.16% of Power Integrations worth $5,682,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Smartleaf Asset Management LLC boosted its position in Power Integrations by 110.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 537 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 282 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Power Integrations by 1,618.2% in the 4th quarter. Versant Capital Management Inc now owns 567 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 534 shares during the period. UMB Bank n.a. boosted its holdings in Power Integrations by 43.9% during the fourth quarter. UMB Bank n.a. now owns 629 shares of the semiconductor company’s stock worth $39,000 after buying an additional 192 shares in the last quarter. KBC Group NV grew its position in Power Integrations by 43.0% during the fourth quarter. KBC Group NV now owns 2,549 shares of the semiconductor company’s stock valued at $157,000 after buying an additional 767 shares during the period. Finally, Inspire Advisors LLC purchased a new position in Power Integrations in the fourth quarter valued at $210,000.

Power Integrations Price Performance

NASDAQ POWI opened at $50.98 on Friday. The stock’s 50 day simple moving average is $59.70 and its 200-day simple moving average is $61.76. The company has a market cap of $2.90 billion, a PE ratio of 89.44, a price-to-earnings-growth ratio of 4.08 and a beta of 1.11. Power Integrations, Inc. has a 1-year low of $50.95 and a 1-year high of $79.13.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.12). Power Integrations had a net margin of 7.69% and a return on equity of 4.48%. On average, equities research analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a $0.21 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.65%. Power Integrations’s payout ratio is 147.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on POWI shares. StockNews.com upgraded Power Integrations from a “hold” rating to a “buy” rating in a research report on Wednesday. Benchmark reissued a “buy” rating and issued a $78.00 price objective on shares of Power Integrations in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Power Integrations presently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Insiders Place Their Bets

In other Power Integrations news, VP Radu Barsan sold 10,393 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $66.08, for a total value of $686,769.44. Following the completion of the sale, the vice president now directly owns 45,295 shares in the company, valued at $2,993,093.60. This represents a 18.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Clifford Walker sold 2,472 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $60.75, for a total value of $150,174.00. Following the completion of the sale, the vice president now directly owns 142,145 shares of the company’s stock, valued at $8,635,308.75. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,544 shares of company stock valued at $2,433,105 in the last ninety days. 1.70% of the stock is currently owned by corporate insiders.

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.