Texas Permanent School Fund Corp Has $2.99 Million Position in Power Integrations, Inc. (NASDAQ:POWI)

Texas Permanent School Fund Corp cut its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 14.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,557 shares of the semiconductor company’s stock after selling 7,205 shares during the quarter. Texas Permanent School Fund Corp owned about 0.07% of Power Integrations worth $2,987,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Duality Advisers LP acquired a new position in shares of Power Integrations during the 1st quarter worth approximately $1,261,000. Congress Asset Management Co. MA grew its holdings in Power Integrations by 14.8% in the 1st quarter. Congress Asset Management Co. MA now owns 487,506 shares of the semiconductor company’s stock valued at $34,881,000 after buying an additional 62,824 shares in the last quarter. TD Asset Management Inc acquired a new position in Power Integrations in the 4th quarter valued at $1,299,000. Public Employees Retirement Association of Colorado grew its holdings in Power Integrations by 2,011.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 260,951 shares of the semiconductor company’s stock valued at $21,427,000 after buying an additional 248,591 shares in the last quarter. Finally, Tributary Capital Management LLC grew its holdings in Power Integrations by 19.9% in the 1st quarter. Tributary Capital Management LLC now owns 270,291 shares of the semiconductor company’s stock valued at $19,339,000 after buying an additional 44,923 shares in the last quarter.

Power Integrations Stock Up 2.4 %

Shares of POWI stock opened at $59.65 on Monday. Power Integrations, Inc. has a twelve month low of $56.63 and a twelve month high of $89.68. The company has a market cap of $3.39 billion, a P/E ratio of 64.84, a P/E/G ratio of 4.66 and a beta of 1.10. The business has a fifty day simple moving average of $66.82 and a 200 day simple moving average of $70.01.

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

Power Integrations Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have commented on POWI shares. Susquehanna decreased their price objective on Power Integrations from $95.00 to $80.00 and set a “positive” rating on the stock in a report on Thursday, August 8th. Northland Capmk raised Power Integrations from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. TD Cowen reduced their target price on Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock 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. Finally, Benchmark reissued a “buy” rating and set a $78.00 target price on shares of Power Integrations in a report on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, VP Sunil Gupta sold 2,127 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $65.90, for a total value of $140,169.30. Following the completion of the transaction, the vice president now directly owns 51,899 shares in the company, valued at $3,420,144.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

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.