Wellington Management Co. LLP has recently announced that it has increased stake in Power Integrations Inc. (NASDAQ:POWI) by 4.48%. After grabbing 2.56 million shares, the institutional investor is now in possession of 0.11 million shares of the Technology Company. The new investment brought the stake of investor firm to 4.48% having worth around $183.62 million. Moreover, Disciplined Growth Investors, Inc increased its share by 0.56 million to have a control over 2.4 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.13 million shares by acquiring 2.29 million shares or 4.01% of the stake.
Power Integrations Inc. (POWI) concluded trading on 01/18/23 at a closing price of $83.49, with 0.37 million shares of worth about $30.66 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 6.82% during that period and on Wednesday the price saw a gain of about 0.83%. Currently the company’s common shares owned by public are about 57.17M shares, out of which, 56.41M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the POWI stock and their offered price forecasts bring an average price target of $73.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $85.00 and could fall to a lowest price of $65.00. The stock’s current price level is -13.59% below of average price target set by the analysts, while a dip to estimated low would result in loss of -28.45% for the stock. However, touching the estimated high of $85.00 would mean a gain of 1.78% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 89 times over the past 12 months. They bought 301,723 shares in 31 of the transactions. In 58 selling transactions, insiders dumped 221,354 shares.
Neuberger Berman Genesis Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Power Integrations Inc. Neuberger Berman Genesis Fund is currently holding 2.3 million shares of worth totaling $165.22 million. The company recently came selling 17234.0 shares which brought its stake up to 4.03% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF sold 336.0 shares, after which its hold over company’s outstanding shares shrunk to 3.09%, leaving 1.76 million shares with the mutual fund that have a worth of about $126.56 million. Vanguard Total Stock Market Index, after buying 1.73 million shares, have now control over 3.03% of the stake in the company. It holds 2384.0 shares of worth $124.07 million.
Power Integrations Inc. (NASDAQ: POWI) started trading at $83.40, above $0.6 from concluding price of the previous day. However, the stock later moved at a day high price of 85.06, or with a gain of 0.83%. Stock saw a price change of 4.73% in past 5 days and over the past one month there was a price change of 14.62%. Year-to-date (YTD), POWI shares are showing a performance of 16.41% which decreased to -1.78% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $59.16 but also hit the highest price of $98.92 during that period. The average intraday trading volume for Power Integrations Inc. shares is 359.31K. The stock is currently trading 11.67% above its 20-day simple moving average (SMA20), while that difference is up 10.96% for SMA50 and it goes to 9.96% higher than SMA200.
Wellington Management Co. LLP acquired 2.56 million shares of Power Integrations Inc. having value of about $183.62 million. Data submitted at the U.S SEC by Wellington Management Co. LLP revealed that the firm now holds 0.11 million shares in the company valued at close to $9173296.77, or have control over 4.48% stake in the company. Holding of mutual funds in the company is about 39.57% while other institutional holders and individual stake holders have control over 61.97% and 3.24% of the stake respectively.
The stock has a current market capitalization of $4.68B and its 3Y-monthly beta is at 1.17. PE ratio of stock for trailing 12 months is 26.20, while it has posted earnings per share of $3.19 in the same period. Its PEG reads 9.10 and has Quick Ratio of 6.70 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for POWI, volatility over the week remained 2.61% while standing at 2.88% over the month.
Analysts are in expectations that Power Integrations Inc. (POWI) stock would likely to be making an EPS of $0.83 in the current quarter, while forecast for next quarter EPS is $0.76 and it is $3.47 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.77 which is $0.86 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.84 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 128.70% while it is estimated to decrease by -17.78% in next year. EPS is likely to shrink at an annualized rate of 2.88% for next 5-years, compared to annual growth of 26.50% made by the stock over the past 5-years.
Analysts at 6 brokerage firms have issued recommendations for the Power Integrations Inc. (POWI)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.30. Out of those 6 Wall Street analysts, 3 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Northland Capital on November 21, 2022 offering a Market perform rating for the stock and assigned a target price of $66 to it. Coverage by Cowen stated Power Integrations Inc. (POWI) stock as a Market perform in their note to investors on November 03, 2022, suggesting a price target of $65 for the stock. On February 07, 2022, Susquehanna Upgrade their recommendations, while on August 19, 2021, The Benchmark Company Initiated their ratings for the stock with a price target of $115. Stock get an Outperform rating from Northland Capital on July 30, 2021.