Oppenheimer Asset Management Inc. Buys 356 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Oppenheimer Asset Management Inc. increased its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 2.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,442 shares of the semiconductor company’s stock after buying an additional 356 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Power Integrations were worth $873,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Duality Advisers LP bought a new stake in shares of Power Integrations during the first quarter worth approximately $1,261,000. Congress Asset Management Co. MA boosted its stake in Power Integrations by 14.8% in the 1st quarter. Congress Asset Management Co. MA now owns 487,506 shares of the semiconductor company’s stock valued at $34,881,000 after purchasing an additional 62,824 shares during the period. TD Asset Management Inc acquired a new position in Power Integrations in the 4th quarter valued at $1,299,000. Public Employees Retirement Association of Colorado increased its position in Power Integrations by 2,011.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 260,951 shares of the semiconductor company’s stock worth $21,427,000 after buying an additional 248,591 shares during the period. Finally, Tributary Capital Management LLC lifted its holdings in shares of Power Integrations by 19.9% during the first quarter. Tributary Capital Management LLC now owns 270,291 shares of the semiconductor company’s stock worth $19,339,000 after buying an additional 44,923 shares in the last quarter.

Insider Activity at Power Integrations

In other Power Integrations news, VP Sunil Gupta sold 2,127 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total value of $140,169.30. Following the completion of the sale, the vice president now owns 51,899 shares in the company, valued at approximately $3,420,144.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.70% of the stock is owned by insiders.

Power Integrations Price Performance

POWI opened at $61.46 on Friday. Power Integrations, Inc. has a fifty-two week low of $56.63 and a fifty-two week high of $89.68. The firm has a market capitalization of $3.49 billion, a PE ratio of 66.80, a P/E/G ratio of 4.62 and a beta of 1.10. The company’s 50-day moving average is $65.79 and its 200 day moving average is $69.69.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. Power Integrations had a return on equity of 4.86% and a net margin of 10.38%. The firm had revenue of $106.20 million during the quarter, compared to the consensus estimate of $105.02 million. During the same period in the prior year, the business posted $0.27 earnings per share. The company’s quarterly revenue was down 13.8% compared to the same quarter last year. As a group, analysts expect that Power Integrations, Inc. will post 0.6 EPS for the current year.

Power Integrations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 1.30%. Power Integrations’s dividend payout ratio is currently 86.96%.

Analysts Set New Price Targets

A number of research firms recently commented on POWI. Susquehanna lowered their price target on shares of Power Integrations from $95.00 to $80.00 and set a “positive” rating on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. StockNews.com upgraded Power Integrations from a “sell” rating to a “hold” rating in a research note on Friday, August 16th. Northland Capmk upgraded Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $95.00 target price (down from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Power Integrations currently has an average rating of “Moderate Buy” and a consensus target price of $78.50.

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.