Advisors Asset Management Inc. Acquires 3,926 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Advisors Asset Management Inc. boosted its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 60.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,451 shares of the semiconductor company’s stock after acquiring an additional 3,926 shares during the quarter. Advisors Asset Management Inc.’s holdings in Power Integrations were worth $670,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Copeland Capital Management LLC lifted its position in shares of Power Integrations by 21.5% during the third quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company’s stock worth $77,401,000 after purchasing an additional 213,392 shares in the last quarter. M&G PLC bought a new position in Power Integrations in the 3rd quarter worth approximately $9,820,000. D. E. Shaw & Co. Inc. lifted its holdings in Power Integrations by 40.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 457,470 shares of the semiconductor company’s stock worth $32,110,000 after buying an additional 131,735 shares in the last quarter. Millennium Management LLC boosted its position in Power Integrations by 23.4% in the 2nd quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock valued at $41,634,000 after buying an additional 112,595 shares during the last quarter. Finally, Congress Asset Management Co. increased its stake in shares of Power Integrations by 18.4% in the 3rd quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company’s stock valued at $39,875,000 after buying an additional 96,609 shares during the period.

Insider Activity

In related news, VP Doug Bailey sold 8,549 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $64.96, for a total transaction of $555,343.04. Following the sale, the vice president now directly owns 86,375 shares in the company, valued at $5,610,920. This trade represents a 9.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Susquehanna cut their price target on Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Benchmark restated a “buy” rating and issued a $78.00 price objective on shares of Power Integrations in a report on Friday, November 8th. Finally, Northland Securities raised shares of Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Power Integrations Stock Performance

Shares of NASDAQ:POWI opened at $65.66 on Wednesday. The company has a 50 day moving average price of $62.92 and a two-hundred day moving average price of $67.53. The company has a market capitalization of $3.73 billion, a PE ratio of 99.49, a PEG ratio of 6.90 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.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $115.84 million during the quarter, compared to analysts’ expectations of $114.83 million. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. On average, sell-side analysts forecast that Power Integrations, Inc. will post 0.54 earnings per share for the current year.

Power Integrations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s dividend payout ratio (DPR) is currently 121.21%.

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.