Wasatch Advisors LP Sells 40,573 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Wasatch Advisors LP lessened its stake in Power Integrations, Inc. (NASDAQ:POWI) by 15.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 224,473 shares of the semiconductor company’s stock after selling 40,573 shares during the quarter. Wasatch Advisors LP owned approximately 0.39% of Power Integrations worth $16,061,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC bought a new stake in Power Integrations in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. raised its position in shares of Power Integrations by 369.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 408 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 321 shares in the last quarter. Mather Group LLC. acquired a new position in Power Integrations in the first quarter valued at about $51,000. Heritage Wealth Management LLC acquired a new stake in shares of Power Integrations during the 4th quarter worth approximately $204,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Power Integrations by 12.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 2,686 shares of the semiconductor company’s stock worth $205,000 after buying an additional 305 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Benchmark reiterated a “buy” rating and issued a $90.00 price target on shares of Power Integrations in a research note on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.40.

Power Integrations Stock Performance

Shares of NASDAQ:POWI opened at $70.56 on Wednesday. Power Integrations, Inc. has a 52 week low of $62.13 and a 52 week high of $99.60. The firm has a market cap of $4.00 billion, a PE ratio of 76.70, a price-to-earnings-growth ratio of 3.91 and a beta of 1.11. The firm’s fifty day moving average is $73.29 and its 200-day moving average is $74.01.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Tuesday, May 7th. The semiconductor company reported $0.08 EPS for the quarter. Power Integrations had a return on equity of 6.13% and a net margin of 12.28%. The business had revenue of $91.69 million for the quarter, compared to analysts’ expectations of $89.98 million. Sell-side analysts forecast that Power Integrations, Inc. will post 0.73 EPS for the current year.

Power Integrations Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.13%. The ex-dividend date was Friday, May 31st. Power Integrations’s dividend payout ratio (DPR) is presently 86.96%.

Insiders Place Their Bets

In other Power Integrations news, VP Yang Chiah Yee sold 1,412 shares of Power Integrations stock in a transaction on Monday, June 17th. The shares were sold at an average price of $73.75, for a total value of $104,135.00. Following the completion of the sale, the vice president now directly owns 45,436 shares of the company’s stock, valued at $3,350,905. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Power Integrations news, VP Sunil Gupta sold 4,512 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $78.25, for a total transaction of $353,064.00. Following the completion of the sale, the vice president now owns 53,861 shares in the company, valued at approximately $4,214,623.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Yang Chiah Yee sold 1,412 shares of Power Integrations stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $73.75, for a total transaction of $104,135.00. Following the transaction, the vice president now owns 45,436 shares of the company’s stock, valued at $3,350,905. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,100 shares of company stock worth $2,481,667. Corporate insiders own 1.50% of the company’s stock.

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.