QRG Capital Management Inc. Has $226,000 Stake in Power Integrations, Inc. (NASDAQ:POWI)

QRG Capital Management Inc. boosted its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,530 shares of the semiconductor company’s stock after purchasing an additional 305 shares during the period. QRG Capital Management Inc.’s holdings in Power Integrations were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Power Integrations by 55.6% in the 3rd quarter. Van ECK Associates Corp now owns 34,431 shares of the semiconductor company’s stock valued at $2,138,000 after acquiring an additional 12,297 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Power Integrations by 166.5% during the third quarter. Harbor Capital Advisors Inc. now owns 28,293 shares of the semiconductor company’s stock valued at $1,814,000 after purchasing an additional 17,677 shares during the last quarter. Stephens Inc. AR grew its stake in Power Integrations by 5.8% in the third quarter. Stephens Inc. AR now owns 4,639 shares of the semiconductor company’s stock valued at $297,000 after purchasing an additional 255 shares in the last quarter. Stephens Investment Management Group LLC increased its position in shares of Power Integrations by 2.6% during the 3rd quarter. Stephens Investment Management Group LLC now owns 567,477 shares of the semiconductor company’s stock worth $36,387,000 after purchasing an additional 14,306 shares during the last quarter. Finally, Congress Asset Management Co. raised its stake in shares of Power Integrations by 18.4% during the 3rd quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company’s stock worth $39,875,000 after purchasing an additional 96,609 shares in the last quarter.

Insider Transactions at Power Integrations

In related news, VP Sunil Gupta sold 2,127 shares of the company’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 directly owns 51,899 shares in the company, valued at approximately $3,420,144.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 2,398 shares of company stock valued at $157,847. 1.70% of the stock is currently owned by corporate insiders.

Power Integrations Stock Performance

Shares of POWI opened at $63.98 on Wednesday. The firm has a market cap of $3.64 billion, a P/E ratio of 96.94, a price-to-earnings-growth ratio of 5.33 and a beta of 1.10. Power Integrations, Inc. has a 52 week low of $56.63 and a 52 week high of $89.68. The firm’s 50-day simple moving average is $62.28 and its 200 day simple moving average is $68.02.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $115.84 million for the quarter, compared to the consensus estimate of $114.83 million. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, equities analysts forecast that Power Integrations, Inc. will post 0.59 earnings per share for the current year.

Power Integrations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.21 per share. This is a boost from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 29th. This represents a $0.84 annualized dividend and a yield of 1.31%. Power Integrations’s dividend payout ratio (DPR) is presently 121.21%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased 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 decreased their price objective on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a research report on Thursday, November 7th. TD Cowen dropped their target price 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. Northland Securities upgraded Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Monday, August 12th. Finally, Northland Capmk upgraded 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.00.

Power Integrations Company 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.