Intech Investment Management LLC Invests $983,000 in Power Integrations, Inc. (NASDAQ:POWI)

Intech Investment Management LLC purchased a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI) during the 3rd quarter, Holdings Channel reports. The fund purchased 15,330 shares of the semiconductor company’s stock, valued at approximately $983,000.

Other institutional investors also recently bought and sold shares of the company. Copeland Capital Management LLC increased its position in 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 valued at $77,401,000 after acquiring an additional 213,392 shares during the last quarter. Ceredex Value Advisors LLC boosted its stake in shares of Power Integrations by 4.8% during the 2nd quarter. Ceredex Value Advisors LLC now owns 756,282 shares of the semiconductor company’s stock worth $53,083,000 after purchasing an additional 34,400 shares during the period. Congress Asset Management Co. grew its holdings in Power Integrations by 18.4% during the 3rd quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company’s stock valued at $39,875,000 after purchasing an additional 96,609 shares during the last quarter. Millennium Management LLC boosted its position in shares of Power Integrations by 23.4% during the second 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 period. Finally, Stephens Investment Management Group LLC boosted its position in shares of Power Integrations by 2.6% during the third quarter. Stephens Investment Management Group LLC now owns 567,477 shares of the semiconductor company’s stock valued at $36,387,000 after buying an additional 14,306 shares during the period.

Power Integrations Trading Down 1.4 %

Shares of NASDAQ POWI opened at $64.77 on Thursday. The stock has a market capitalization of $3.68 billion, a PE ratio of 98.14, a price-to-earnings-growth ratio of 7.37 and a beta of 1.10. The stock’s fifty day simple moving average is $63.05 and its two-hundred day simple moving average is $67.46. Power Integrations, Inc. has a 12-month low of $56.63 and a 12-month high of $89.68.

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

Power Integrations Increases Dividend

The business also recently announced 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 represents a $0.84 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s dividend payout ratio (DPR) is 127.27%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Northland Capmk upgraded shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Susquehanna decreased their target price on 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 lowered their target price on Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price target on Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, Benchmark restated a “buy” rating and issued a $78.00 price objective on shares of Power Integrations in a report on Friday, November 8th. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.00.

Insider Buying and Selling at Power Integrations

In other news, VP Doug Bailey sold 8,549 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was 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 owns 86,375 shares of the company’s stock, valued at $5,610,920. This trade represents a 9.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.