7,701 Shares in Power Integrations, Inc. (NASDAQ:POWI) Bought by Magnetar Financial LLC

Magnetar Financial LLC acquired a new stake in Power Integrations, Inc. (NASDAQ:POWI) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 7,701 shares of the semiconductor company’s stock, valued at approximately $541,000.

Several other hedge funds also recently added to or reduced their stakes in POWI. Vanguard Group Inc. grew its stake in shares of Power Integrations by 1.6% in the first quarter. Vanguard Group Inc. now owns 6,528,564 shares of the semiconductor company’s stock valued at $467,119,000 after buying an additional 105,034 shares in the last quarter. Capital International Investors boosted its holdings in Power Integrations by 6.5% in the 1st quarter. Capital International Investors now owns 1,316,934 shares of the semiconductor company’s stock worth $94,227,000 after acquiring an additional 80,775 shares during the period. Ceredex Value Advisors LLC grew its position in Power Integrations by 4.8% in the second quarter. Ceredex Value Advisors LLC now owns 756,282 shares of the semiconductor company’s stock valued at $53,083,000 after acquiring an additional 34,400 shares in the last quarter. Fiera Capital Corp raised its stake in shares of Power Integrations by 1.2% during the second quarter. Fiera Capital Corp now owns 494,768 shares of the semiconductor company’s stock valued at $34,728,000 after purchasing an additional 5,710 shares during the period. Finally, Congress Asset Management Co. MA lifted its position in shares of Power Integrations by 14.8% during the first quarter. Congress Asset Management Co. MA now owns 487,506 shares of the semiconductor company’s stock worth $34,881,000 after purchasing an additional 62,824 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a report on Friday, August 16th. TD Cowen dropped their target price on Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Northland Capmk raised Power Integrations from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Susquehanna dropped 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. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 target price (down from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Power Integrations has an average rating of “Moderate Buy” and an average target price of $78.50.

Insider Activity at Power Integrations

In other Power Integrations news, VP Sunil Gupta sold 2,127 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Power Integrations Stock Up 2.0 %

NASDAQ:POWI opened at $61.77 on Wednesday. The company has a market cap of $3.51 billion, a PE ratio of 67.14, a P/E/G ratio of 4.87 and a beta of 1.10. The business’s 50 day moving average is $64.85 and its two-hundred day moving average is $69.37. Power Integrations, Inc. has a 52 week low of $56.63 and a 52 week high of $89.68.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.02. The firm had revenue of $106.20 million for the quarter, compared to analysts’ expectations of $105.02 million. Power Integrations had a return on equity of 4.86% and a net margin of 10.38%. The firm’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. As a group, sell-side analysts expect that Power Integrations, Inc. will post 0.59 EPS for the current fiscal 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 issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, August 30th. Power Integrations’s dividend payout ratio (DPR) is presently 86.96%.

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.