Ellevest Inc. boosted its position in Power Integrations, Inc. (NASDAQ:POWI – Get Rating) by 10.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,332 shares of the semiconductor company's stock after acquiring an additional 218 shares during the period. Ellevest Inc.'s holdings in Power Integrations were worth $175,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of POWI. Nuveen Asset Management LLC grew its stake in shares of Power Integrations by 5.6% during the 4th quarter. Nuveen Asset Management LLC now owns 220,185 shares of the semiconductor company's stock valued at $20,453,000 after buying an additional 11,631 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Power Integrations by 17.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 358,601 shares of the semiconductor company's stock valued at $33,310,000 after buying an additional 52,944 shares during the period. State Street Corp grew its stake in shares of Power Integrations by 7.2% during the 4th quarter. State Street Corp now owns 2,353,552 shares of the semiconductor company's stock valued at $218,621,000 after buying an additional 158,536 shares during the period. Credit Suisse AG grew its stake in shares of Power Integrations by 10.6% during the 4th quarter. Credit Suisse AG now owns 184,291 shares of the semiconductor company's stock valued at $17,118,000 after buying an additional 17,637 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Power Integrations by 52.4% during the 4th quarter. Alliancebernstein L.P. now owns 142,634 shares of the semiconductor company's stock valued at $13,249,000 after buying an additional 49,022 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
Several brokerages have recently issued reports on POWI. Susquehanna lowered their price objective on shares of Power Integrations from $105.00 to $98.00 and set a "positive" rating for the company in a research note on Friday, August 5th. StockNews.com cut shares of Power Integrations from a "buy" rating to a "hold" rating in a research report on Tuesday, September 13th. Susquehanna Bancshares decreased their price target on shares of Power Integrations from $105.00 to $98.00 and set a "positive" rating for the company in a research report on Friday, August 5th. Cowen decreased their price target on shares of Power Integrations to $90.00 in a research report on Tuesday, August 9th. Finally, Benchmark decreased their price target on shares of Power Integrations from $95.00 to $90.00 in a research report on Monday, September 12th.
Insider Activity
In other news, VP Radu Barsan sold 21,223 shares of the company's stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $85.00, for a total value of $1,803,955.00. Following the sale, the vice president now owns 40,881 shares in the company, valued at approximately $3,474,885. The sale was disclosed in a document filed with the SEC, which is accessible through
the SEC website. In other news, VP Radu Barsan sold 21,223 shares of the company's stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $85.00, for a total value of $1,803,955.00. Following the sale, the vice president now owns 40,881 shares in the company, valued at approximately $3,474,885. The sale was disclosed in a document filed with the SEC, which is accessible through
the SEC website. Also, VP Sunil Gupta sold 2,117 shares of the company's stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $77.91, for a total transaction of $164,935.47. Following the completion of the sale, the vice president now owns 35,888 shares in the company, valued at approximately $2,796,034.08. The disclosure for this sale can be found
here. In the last 90 days, insiders have sold 33,185 shares of company stock worth $2,761,905. 1.60% of the stock is currently owned by corporate insiders.
Power Integrations Price Performance
Shares of POWI stock opened at $66.36 on Thursday. Power Integrations, Inc. has a 12 month low of $63.75 and a 12 month high of $110.43. The firm has a market capitalization of $3.87 billion, a P/E ratio of 21.55 and a beta of 1.10. The company's fifty day moving average price is $75.31 and its two-hundred day moving average price is $79.73.
Power Integrations (NASDAQ:POWI – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The semiconductor company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.16. Power Integrations had a net margin of 25.83% and a return on equity of 22.44%. The firm had revenue of $183.99 million for the quarter, compared to analyst estimates of $190.15 million. During the same quarter in the previous year, the business posted $0.71 EPS. The firm's revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Power Integrations, Inc. will post 3.09 EPS for the current year.
Power Integrations Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st will be issued a $0.18 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.08%. Power Integrations's dividend payout ratio is currently 23.38%.
Power Integrations Company Profile
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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.
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