Aperio Group LLC increased its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 16.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,943 shares of the semiconductor company’s stock after buying an additional 4,442 shares during the period. Aperio Group LLC owned approximately 0.11% of Power Integrations worth $2,329,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its position in shares of Power Integrations by 22.7% in the first quarter. Victory Capital Management Inc. now owns 2,210 shares of the semiconductor company’s stock worth $145,000 after buying an additional 409 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of Power Integrations during the first quarter worth approximately $156,000. PEAK6 Investments L.P. bought a new position in shares of Power Integrations during the first quarter worth approximately $212,000. State of Alaska Department of Revenue raised its position in shares of Power Integrations by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 3,250 shares of the semiconductor company’s stock worth $213,000 after buying an additional 90 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Power Integrations by 3.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,452 shares of the semiconductor company’s stock worth $227,000 after buying an additional 118 shares during the last quarter. Institutional investors and hedge funds own 95.41% of the company’s stock.
Shares of Power Integrations, Inc. (NASDAQ POWI) opened at 68.70 on Friday. The stock’s 50 day moving average is $73.76 and its 200-day moving average is $67.83. Power Integrations, Inc. has a one year low of $56.03 and a one year high of $82.80. The company has a market cap of $2.04 billion, a P/E ratio of 38.19 and a beta of 1.23.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $107.56 million during the quarter, compared to analysts’ expectations of $107.85 million. Power Integrations had a net margin of 13.37% and a return on equity of 12.08%. Power Integrations’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 earnings per share. Equities research analysts forecast that Power Integrations, Inc. will post $2.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be paid a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.56 annualized dividend and a yield of 0.82%. Power Integrations’s dividend payout ratio is currently 29.95%.
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POWI has been the topic of a number of analyst reports. Drexel Hamilton set a $84.00 target price on shares of Power Integrations and gave the stock a “buy” rating in a research report on Friday, July 28th. Sidoti upgraded shares of Power Integrations from a “neutral” rating to a “buy” rating in a research report on Monday, May 15th. Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Friday, May 5th. BidaskClub lowered shares of Power Integrations from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 16th. Finally, Stifel Nicolaus restated a “buy” rating and set a $82.00 target price (up previously from $75.00) on shares of Power Integrations in a research report on Friday, June 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Power Integrations presently has a consensus rating of “Buy” and a consensus target price of $78.50.
In related news, Director Nicholas Brathwaite sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $74.33, for a total transaction of $445,980.00. Following the completion of the transaction, the director now owns 24,710 shares of the company’s stock, valued at $1,836,694.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP David Mh Matthews sold 776 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $67.04, for a total transaction of $52,023.04. Following the completion of the transaction, the vice president now directly owns 44,405 shares of the company’s stock, valued at approximately $2,976,911.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 131,981 shares of company stock valued at $10,093,383. 4.30% of the stock is owned by corporate insiders.
About Power Integrations
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. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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