State of New Jersey Common Pension Fund D Increases Stake in Power Integrations, Inc. (NASDAQ:POWI)

State of New Jersey Common Pension Fund D boosted its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 20.6% in the 3rd quarter, Holdings Channel reports. The fund owned 29,869 shares of the semiconductor company’s stock after buying an additional 5,097 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Power Integrations were worth $1,915,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Power Integrations by 1.6% in the first quarter. Vanguard Group Inc. now owns 6,528,564 shares of the semiconductor company’s stock valued at $467,119,000 after buying an additional 105,034 shares in the last quarter. Capital International Investors increased its position in shares of Power Integrations by 6.5% in the first quarter. Capital International Investors now owns 1,316,934 shares of the semiconductor company’s stock valued at $94,227,000 after buying an additional 80,775 shares in the last quarter. Copeland Capital Management LLC increased its position in shares of Power Integrations by 21.5% in the third quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company’s stock valued at $77,401,000 after buying an additional 213,392 shares in the last quarter. Ceredex Value Advisors LLC increased its position in shares of Power Integrations by 4.8% in the second quarter. Ceredex Value Advisors LLC now owns 756,282 shares of the semiconductor company’s stock valued at $53,083,000 after buying an additional 34,400 shares in the last quarter. Finally, Congress Asset Management Co. boosted its stake in shares of Power Integrations by 18.4% in the third quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company’s stock worth $39,875,000 after acquiring an additional 96,609 shares during the last quarter.

Power Integrations Stock Performance

NASDAQ POWI opened at $60.04 on Monday. Power Integrations, Inc. has a fifty-two week low of $56.63 and a fifty-two week high of $89.68. The stock’s fifty day moving average is $62.41 and its two-hundred day moving average is $67.91. The firm has a market capitalization of $3.41 billion, a P/E ratio of 90.97, a price-to-earnings-growth ratio of 6.50 and a beta of 1.10.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The business had revenue of $115.84 million for the quarter, compared to analyst estimates of $114.83 million. During the same quarter in the prior year, the company posted $0.35 EPS. The company’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that Power Integrations, Inc. will post 0.54 EPS for the current year.

Power Integrations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Friday, November 29th. This is an increase from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s payout ratio is currently 121.21%.

Analyst Ratings Changes

POWI has been the topic of a number of research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 price target (down from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. TD Cowen lowered their price target 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. StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday. Susquehanna lowered their price target on Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a research note on Thursday, November 7th. Finally, Benchmark reissued a “buy” rating and set a $78.00 price objective on shares of Power Integrations in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.00.

Insider Activity at Power Integrations

In related news, VP Doug Bailey sold 8,549 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $64.96, for a total value of $555,343.04. Following the sale, the vice president now owns 86,375 shares in the company, valued at approximately $5,610,920. The trade was a 9.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sunil Gupta sold 2,127 shares of the business’s stock in a transaction on 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 $3,420,144.10. This represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,947 shares of company stock worth $713,190. 1.70% of the stock is currently owned by company insiders.

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.