The Manufacturers Life Insurance Company Acquires 419 Shares of Power Integrations, Inc. (NASDAQ:POWI)

The Manufacturers Life Insurance Company grew its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,451 shares of the semiconductor company’s stock after buying an additional 419 shares during the period. The Manufacturers Life Insurance Company’s holdings in Power Integrations were worth $6,632,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp boosted its holdings in shares of Power Integrations by 55.6% during the 3rd quarter. Van ECK Associates Corp now owns 34,431 shares of the semiconductor company’s stock valued at $2,138,000 after buying an additional 12,297 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Power Integrations by 97.5% in the 3rd quarter. GSA Capital Partners LLP now owns 26,028 shares of the semiconductor company’s stock worth $1,669,000 after purchasing an additional 12,847 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Power Integrations by 214.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,860 shares of the semiconductor company’s stock worth $2,684,000 after purchasing an additional 28,548 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Power Integrations in the 2nd quarter worth about $699,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Power Integrations by 10.9% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 234,418 shares of the semiconductor company’s stock worth $16,454,000 after purchasing an additional 23,056 shares during the last quarter.

Insider Buying and Selling

In other Power Integrations news, VP Clifford Walker sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $64.36, for a total value of $643,600.00. Following the completion of the sale, the vice president now directly owns 130,934 shares in the company, valued at $8,426,912.24. This represents a 7.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Doug Bailey sold 8,549 shares of the company’s stock in a transaction 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 owns 86,375 shares of the company’s stock, valued at approximately $5,610,920. The trade was a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,655 shares of company stock worth $1,205,566. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on POWI. StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. 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. Northland Securities upgraded Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Monday, August 12th. Northland Capmk raised Power Integrations from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, Benchmark reissued a “buy” rating and issued a $78.00 price target on shares of Power Integrations in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Power Integrations presently has a consensus rating of “Moderate Buy” and an average target price of $78.00.

Power Integrations Price Performance

Shares of POWI stock opened at $63.89 on Thursday. Power Integrations, Inc. has a 1-year low of $56.63 and a 1-year high of $89.68. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 96.80, a PEG ratio of 7.27 and a beta of 1.12. The stock has a 50 day simple moving average of $63.63 and a 200-day simple moving average of $67.03.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The firm had revenue of $115.84 million during the quarter, compared to analysts’ expectations of $114.83 million. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Analysts anticipate that Power Integrations, Inc. will post 0.54 earnings per share 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 represents a $0.84 annualized dividend and a dividend yield of 1.31%. This is a boost from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 29th. Power Integrations’s payout ratio is presently 127.27%.

Power Integrations 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.