Los Angeles Capital Management LLC Takes Position in Power Integrations, Inc. (NASDAQ:POWI)

Los Angeles Capital Management LLC purchased a new position in shares of Power Integrations, Inc. (NASDAQ:POWI) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,958 shares of the semiconductor company’s stock, valued at approximately $699,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Power Integrations by 69.8% during the 2nd quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock worth $26,000 after buying an additional 150 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Power Integrations during the first quarter worth about $51,000. Fidelis Capital Partners LLC purchased a new position in Power Integrations during the first quarter worth about $55,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Power Integrations in the second quarter valued at about $63,000. Finally, Covestor Ltd boosted its holdings in Power Integrations by 16.3% in the 1st quarter. Covestor Ltd now owns 1,581 shares of the semiconductor company’s stock valued at $113,000 after purchasing an additional 222 shares in the last quarter.

Power Integrations Stock Up 2.4 %

NASDAQ:POWI opened at $59.65 on Friday. Power Integrations, Inc. has a 52-week low of $56.63 and a 52-week high of $89.68. The stock has a fifty day simple moving average of $67.04 and a 200-day simple moving average of $70.10. The company has a market capitalization of $3.39 billion, a PE ratio of 64.84, a price-to-earnings-growth ratio of 4.66 and a beta of 1.10.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $106.20 million during the quarter, compared to analysts’ expectations of $105.02 million. Power Integrations had a net margin of 10.38% and a return on equity of 4.86%. The firm’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. As a group, equities analysts anticipate that Power Integrations, Inc. will post 0.6 earnings per share for the current year.

Power Integrations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, August 30th. Power Integrations’s payout ratio is 86.96%.

Insider Transactions at Power Integrations

In related news, VP Sunil Gupta sold 2,127 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $65.90, for a total transaction of $140,169.30. Following the sale, the vice president now owns 51,899 shares of the company’s stock, valued at $3,420,144.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Sunil Gupta sold 2,127 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total transaction of $140,169.30. Following the transaction, the vice president now owns 51,899 shares of the company’s stock, valued at $3,420,144.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Yang Chiah Yee sold 1,412 shares of Power Integrations stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $73.75, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 3,704 shares of company stock valued at $255,359 over the last three months. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a report on Friday, August 16th. Northland Capmk raised shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Benchmark reiterated a “buy” rating and issued a $78.00 price objective on shares of Power Integrations in a research note on Wednesday. Finally, TD Cowen decreased their price objective on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong 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 $78.50.

Power Integrations 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.