Acadian Asset Management LLC Makes New $885,000 Investment in Power Integrations, Inc. (NASDAQ:POWI)

Acadian Asset Management LLC purchased a new position in Power Integrations, Inc. (NASDAQ:POWI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,628 shares of the semiconductor company’s stock, valued at approximately $885,000.

Several other institutional investors have also modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Power Integrations by 69.8% during the second quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 150 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Power Integrations during the first quarter worth $51,000. Fidelis Capital Partners LLC acquired a new position in shares of Power Integrations during the first quarter worth $55,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Power Integrations during the second quarter worth $63,000. Finally, Covestor Ltd grew its stake in shares of Power Integrations by 16.3% during the first quarter. Covestor Ltd now owns 1,581 shares of the semiconductor company’s stock worth $113,000 after purchasing an additional 222 shares in the last quarter.

Power Integrations Price Performance

POWI stock opened at $58.58 on Tuesday. The company’s 50 day simple moving average is $66.82 and its 200-day simple moving average is $70.01. The firm has a market capitalization of $3.33 billion, a PE ratio of 63.67, a P/E/G ratio of 4.62 and a beta of 1.10. Power Integrations, Inc. has a 12 month low of $56.63 and a 12 month high of $89.68.

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

Power Integrations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be given a $0.20 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. Power Integrations’s dividend payout ratio is presently 86.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on POWI shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Susquehanna reduced their price target on shares of Power Integrations from $95.00 to $80.00 and set a “positive” rating for the company in a research report on Thursday, August 8th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target (down from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. TD Cowen reduced their price target on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Power Integrations has an average rating of “Moderate Buy” and an average price target of $78.50.

Insider Activity

In other news, VP Sunil Gupta sold 2,127 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total value of $140,169.30. Following the sale, the vice president now directly owns 51,899 shares in the company, valued at $3,420,144.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

About Power Integrations

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.