Sei Investments Co. Purchases 19,006 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Sei Investments Co. boosted its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 24.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,442 shares of the semiconductor company’s stock after buying an additional 19,006 shares during the period. Sei Investments Co.’s holdings in Power Integrations were worth $6,767,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of POWI. Canada Pension Plan Investment Board increased its stake in shares of Power Integrations by 20.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 29,000 shares of the semiconductor company’s stock valued at $2,036,000 after purchasing an additional 4,900 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Power Integrations by 28.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,935 shares of the semiconductor company’s stock valued at $627,000 after acquiring an additional 1,966 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Power Integrations by 36.1% in the second quarter. WINTON GROUP Ltd now owns 13,342 shares of the semiconductor company’s stock worth $936,000 after acquiring an additional 3,539 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Power Integrations by 2.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 256,493 shares of the semiconductor company’s stock valued at $18,003,000 after purchasing an additional 5,830 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Power Integrations by 2.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,442 shares of the semiconductor company’s stock valued at $873,000 after purchasing an additional 356 shares during the last quarter.

Power Integrations Stock Performance

NASDAQ:POWI opened at $64.12 on Tuesday. Power Integrations, Inc. has a 52 week low of $56.63 and a 52 week high of $89.68. The firm’s fifty day moving average is $63.94 and its 200-day moving average is $69.09. The firm has a market cap of $3.64 billion, a P/E ratio of 69.70, a P/E/G ratio of 4.96 and a beta of 1.10.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. Power Integrations had a net margin of 10.38% and a return on equity of 4.86%. The business had revenue of $106.20 million for the quarter, compared to analysts’ expectations of $105.02 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The business’s quarterly revenue was down 13.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Power Integrations, Inc. will post 0.59 earnings per share for the current year.

Power Integrations Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 30th were issued a $0.20 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. Power Integrations’s payout ratio is currently 86.96%.

Analysts Set New Price Targets

Several equities analysts recently commented on POWI shares. Benchmark reissued a “buy” rating and issued a $78.00 price objective on shares of Power Integrations in a research note on Wednesday, September 11th. Northland Securities raised Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lowered their target price on Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Susquehanna cut their price target on Power Integrations from $95.00 to $80.00 and set a “positive” rating on the stock in a research note on Thursday, August 8th. Finally, Northland Capmk raised Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.50.

Insider Buying and Selling at Power Integrations

In other news, VP Sunil Gupta sold 2,127 shares of the firm’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 completion of the sale, the vice president now owns 51,899 shares of the company’s stock, valued at approximately $3,420,144.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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.