Power Integrations, Inc. (NASDAQ:POWI) Shares Sold by Swiss National Bank

Swiss National Bank lowered its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,900 shares of the semiconductor company’s stock after selling 1,000 shares during the period. Swiss National Bank owned approximately 0.20% of Power Integrations worth $7,111,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in POWI. GAMMA Investing LLC increased its position in Power Integrations by 69.8% during the 2nd 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. grew its stake in Power Integrations by 22.8% during the second quarter. Mather Group LLC. now owns 868 shares of the semiconductor company’s stock worth $62,000 after buying an additional 161 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Power Integrations in the second quarter worth $63,000. Quest Partners LLC raised its stake in shares of Power Integrations by 23.5% in the 2nd quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 240 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Power Integrations by 32.0% during the 3rd quarter. KBC Group NV now owns 1,782 shares of the semiconductor company’s stock valued at $114,000 after acquiring an additional 432 shares in the last quarter.

Power Integrations Trading Down 3.5 %

Shares of NASDAQ:POWI opened at $65.66 on Wednesday. The firm has a market cap of $3.73 billion, a PE ratio of 100.56, a price-to-earnings-growth ratio of 6.90 and a beta of 1.10. The company has a fifty day simple moving average of $62.92 and a 200 day simple moving average of $67.53. Power Integrations, Inc. has a 12-month low of $56.63 and a 12-month high of $89.68.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $115.84 million for the quarter, compared to analyst estimates of $114.83 million. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. The company’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 posted $0.35 EPS. As a group, equities research analysts forecast that Power Integrations, Inc. will post 0.54 EPS for the current fiscal year.

Power Integrations Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price objective (down from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Susquehanna reduced their price target on Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a research report on Thursday, November 7th. Northland Securities raised shares of Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Monday, August 12th. TD Cowen reduced their target price on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.00.

Insider Buying and Selling

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

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.