Mutual of America Capital Management LLC Sells 1,378 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Mutual of America Capital Management LLC reduced its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 4.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 32,501 shares of the semiconductor company’s stock after selling 1,378 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Power Integrations were worth $2,281,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Power Integrations by 69.8% during the 2nd quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 150 shares during the last quarter. Mather Group LLC. bought a new position in shares of Power Integrations during the 1st quarter valued at approximately $51,000. Fidelis Capital Partners LLC bought a new position in shares of Power Integrations during the 1st quarter valued at approximately $55,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Power Integrations during the 2nd quarter valued at approximately $63,000. Finally, Quest Partners LLC boosted its position in shares of Power Integrations by 23.5% during the 2nd quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 240 shares during the last quarter.

Insider Activity

In other news, VP Sunil Gupta sold 2,127 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $65.90, for a total transaction of $140,169.30. Following the transaction, the vice president now owns 51,899 shares in the company, valued at $3,420,144.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Power Integrations Trading Up 2.0 %

NASDAQ:POWI opened at $61.77 on Wednesday. Power Integrations, Inc. has a twelve month low of $56.63 and a twelve month high of $89.68. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 67.14, a price-to-earnings-growth ratio of 4.71 and a beta of 1.10. The stock has a fifty day simple moving average of $64.85 and a 200-day simple moving average of $69.37.

Power Integrations (NASDAQ:POWI) last released its earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $106.20 million during the quarter, compared to the consensus estimate of $105.02 million. Power Integrations had a return on equity of 4.86% and a net margin of 10.38%. The business’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. As a group, equities research analysts predict that Power Integrations, Inc. will post 0.59 EPS for the current fiscal year.

Power Integrations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.20 per share. 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%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. TD Cowen lowered their price target on Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Susquehanna lowered their price target on Power Integrations from $95.00 to $80.00 and set a “positive” rating for the company in a research report on Thursday, August 8th. Northland Capmk upgraded Power Integrations from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Northland Securities upgraded Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.