Power Integrations, Inc. (NASDAQ:POWI) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its position in Power Integrations, Inc. (NASDAQ:POWI) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 257,555 shares of the semiconductor company’s stock after selling 1,252 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.45% of Power Integrations worth $18,078,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Power Integrations in the 4th quarter worth approximately $37,424,000. PNC Financial Services Group Inc. increased its stake in shares of Power Integrations by 3.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,385 shares of the semiconductor company’s stock worth $606,000 after acquiring an additional 231 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Power Integrations by 6.7% during the fourth quarter. Wells Fargo & Company MN now owns 100,282 shares of the semiconductor company’s stock worth $8,234,000 after purchasing an additional 6,312 shares during the last quarter. Assetmark Inc. lifted its position in Power Integrations by 39.6% during the fourth quarter. Assetmark Inc. now owns 9,269 shares of the semiconductor company’s stock valued at $761,000 after purchasing an additional 2,630 shares during the period. Finally, US Bancorp DE boosted its holdings in Power Integrations by 1.1% in the fourth quarter. US Bancorp DE now owns 14,399 shares of the semiconductor company’s stock valued at $1,182,000 after purchasing an additional 161 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have recently issued reports on POWI. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price objective (down previously from $100.00) on shares of Power Integrations in a report on Monday, August 5th. StockNews.com upgraded Power Integrations from a “sell” rating to a “hold” rating in a research report on Friday, August 16th. Susquehanna dropped their price objective on shares of Power Integrations from $95.00 to $80.00 and set a “positive” rating on the stock in a research note on Thursday, August 8th. Northland Securities upgraded shares of Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Monday, August 12th. Finally, TD Cowen dropped their price target 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. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.50.

Power Integrations Stock Performance

Power Integrations stock opened at $59.65 on Friday. The stock has a market capitalization of $3.39 billion, a P/E ratio of 64.84, a P/E/G ratio of 4.71 and a beta of 1.10. The company’s fifty day moving average price is $65.48 and its 200 day moving average price is $69.60. 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 earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. The business had revenue of $106.20 million for the quarter, compared to analyst estimates of $105.02 million. Power Integrations had a net margin of 10.38% and a return on equity of 4.86%. The company’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 earnings per share. Sell-side analysts predict that Power Integrations, Inc. will post 0.59 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. Shareholders of record on Friday, August 30th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.34%. Power Integrations’s payout ratio is currently 86.96%.

Insider Activity

In related news, VP Sunil Gupta sold 2,127 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $65.90, for a total value of $140,169.30. Following the completion of the transaction, the vice president now directly owns 51,899 shares of the company’s stock, valued at approximately $3,420,144.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

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.