Power Integrations, Inc. (NASDAQ:POWI) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 15.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 13,861 shares of the semiconductor company’s stock after purchasing an additional 1,819 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Power Integrations were worth $889,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Copeland Capital Management LLC boosted its stake 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 worth $77,401,000 after buying an additional 213,392 shares during the last quarter. Ceredex Value Advisors LLC boosted its position 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 valued at $53,083,000 after acquiring an additional 34,400 shares during the last quarter. Congress Asset Management Co. grew its holdings in shares of Power Integrations by 18.4% in the third 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 period. Millennium Management LLC increased its position in Power Integrations by 23.4% during the second quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock worth $41,634,000 after purchasing an additional 112,595 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its stake in 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 worth $36,387,000 after purchasing an additional 14,306 shares during the period.

Analysts Set New Price Targets

A number of analysts have recently issued reports on POWI shares. Susquehanna cut their price target on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a report on Thursday, November 7th. Benchmark restated a “buy” rating and issued a $78.00 target price on shares of Power Integrations in a research report on Friday, November 8th. Northland Capmk raised Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Northland Securities raised shares of Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Power Integrations Price Performance

NASDAQ POWI opened at $63.14 on Friday. The company has a market cap of $3.59 billion, a P/E ratio of 95.67, a P/E/G ratio of 7.16 and a beta of 1.12. The stock has a 50-day moving average of $63.60 and a two-hundred day moving average of $66.90. Power Integrations, Inc. has a 1-year low of $56.63 and a 1-year high of $89.68.

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

Power Integrations Increases Dividend

The business also recently disclosed 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 1.33%. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s dividend payout ratio is currently 127.27%.

Insider Activity

In other Power Integrations news, VP Clifford Walker sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $64.36, for a total transaction of $643,600.00. Following the completion of the transaction, the vice president now owns 130,934 shares in the company, valued at $8,426,912.24. The trade was a 7.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the sale, the vice president now owns 86,375 shares in the company, valued at $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 three months, insiders have sold 18,655 shares of company stock worth $1,205,566. Corporate insiders own 1.70% of the company’s stock.

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.