Amalgamated Bank Cuts Stake in Power Integrations, Inc. (NASDAQ:POWI)

Amalgamated Bank cut its stake in Power Integrations, Inc. (NASDAQ:POWI) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,580 shares of the semiconductor company’s stock after selling 2,236 shares during the quarter. Amalgamated Bank’s holdings in Power Integrations were worth $1,936,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Power Integrations by 69.8% in the second quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 150 shares during the last quarter. Mather Group LLC. acquired a new stake in Power Integrations in the 1st quarter valued at about $51,000. Fidelis Capital Partners LLC purchased a new position in Power Integrations in the 1st quarter worth approximately $55,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Power Integrations during the 2nd quarter worth approximately $63,000. Finally, Quest Partners LLC grew its position in shares of Power Integrations by 23.5% in the second quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 240 shares in the last quarter.

Power Integrations Stock Down 2.1 %

Shares of NASDAQ POWI opened at $60.48 on Thursday. The business’s 50 day moving average is $64.54 and its two-hundred day moving average is $69.31. Power Integrations, Inc. has a 52-week low of $56.63 and a 52-week high of $89.68. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 65.74, a PEG ratio of 4.87 and a beta of 1.10.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $105.02 million. During the same quarter in the previous year, the business earned $0.27 EPS. The company’s quarterly revenue was down 13.8% compared to the same quarter last year. Analysts anticipate that Power Integrations, Inc. will post 0.59 EPS for the current fiscal year.

Power Integrations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, August 30th. Power Integrations’s payout ratio is 86.96%.

Insider Activity at Power Integrations

In other 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 sale, the vice president now directly 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 can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on POWI shares. TD Cowen lowered their price objective on Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Northland Securities upgraded shares of Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Monday, August 12th. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Finally, Northland Capmk raised shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Power Integrations currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

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.