Marshall Wace LLP Sells 36,339 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Marshall Wace LLP decreased its stake in Power Integrations, Inc. (NASDAQ:POWI) by 15.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 191,674 shares of the semiconductor company’s stock after selling 36,339 shares during the period. Marshall Wace LLP’s holdings in Power Integrations were worth $13,454,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its position in shares of Power Integrations by 3.6% during the 2nd quarter. Bank of Montreal Can now owns 12,258 shares of the semiconductor company’s stock valued at $931,000 after buying an additional 431 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Power Integrations during the second quarter valued at about $541,000. ProShare Advisors LLC boosted its position in Power Integrations by 0.4% during the second quarter. ProShare Advisors LLC now owns 215,375 shares of the semiconductor company’s stock worth $15,117,000 after purchasing an additional 956 shares during the period. Sei Investments Co. increased its stake in shares of Power Integrations by 24.5% in the second quarter. Sei Investments Co. now owns 96,442 shares of the semiconductor company’s stock worth $6,767,000 after purchasing an additional 19,006 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Power Integrations by 20.3% in the second quarter. Canada Pension Plan Investment Board now owns 29,000 shares of the semiconductor company’s stock valued at $2,036,000 after purchasing an additional 4,900 shares during the period.

Analysts Set New Price Targets

POWI has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. StockNews.com upgraded Power Integrations from a “sell” rating to a “hold” rating in a research report 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. TD Cowen decreased their price target on Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $95.00 price objective (down from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Three research 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 company. Based on data from MarketBeat, Power Integrations has an average rating of “Moderate Buy” and an average target price of $78.50.

Power Integrations Stock Up 0.3 %

NASDAQ:POWI opened at $63.57 on Friday. Power Integrations, Inc. has a twelve month low of $56.63 and a twelve month high of $89.68. The stock has a market cap of $3.61 billion, a P/E ratio of 69.10, a PEG ratio of 4.96 and a beta of 1.10. The business’s 50-day moving average price is $64.16 and its two-hundred day moving average price is $69.16.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. Power Integrations had a net margin of 10.38% and a return on equity of 4.86%. The business had revenue of $106.20 million for the quarter, compared to the consensus estimate of $105.02 million. During the same period last year, the firm posted $0.27 earnings per share. Power Integrations’s quarterly revenue was down 13.8% on a year-over-year basis. On average, equities research analysts expect that Power Integrations, Inc. will post 0.59 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 30th will be given a $0.20 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.80 annualized dividend and a yield of 1.26%. Power Integrations’s dividend payout ratio (DPR) is presently 86.96%.

Insider Activity at Power Integrations

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

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.