Oppenheimer Asset Management Inc. Cuts Stock Position in Power Integrations, Inc. (NASDAQ:POWI)

Oppenheimer Asset Management Inc. lessened its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 12,247 shares of the semiconductor company’s stock after selling 195 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Power Integrations were worth $785,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of Power Integrations by 69.8% during the second quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 150 shares during the period. Mather Group LLC. lifted its holdings in shares of Power Integrations by 22.8% during the second quarter. Mather Group LLC. now owns 868 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 161 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Power Integrations during the second quarter worth about $63,000. Quest Partners LLC lifted its holdings in shares of Power Integrations by 23.5% during the second quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 240 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of Power Integrations by 16.3% during the first quarter. Covestor Ltd now owns 1,581 shares of the semiconductor company’s stock worth $113,000 after purchasing an additional 222 shares during the period.

Insider Buying and Selling

In other Power Integrations 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 transaction of $555,343.04. Following the transaction, the vice president now owns 86,375 shares of the company’s stock, valued at approximately $5,610,920. The trade was a 9.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Sunil Gupta sold 2,127 shares of the business’s 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 transaction, the vice president now directly owns 51,899 shares in the company, valued at $3,420,144.10. This trade represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,947 shares of company stock worth $713,190. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. TD Cowen decreased their target price on Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Susquehanna decreased their price target on Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a report on Thursday, November 7th. Northland Securities raised Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Monday, August 12th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target (down from $100.00) on shares of Power Integrations in a report on Monday, August 5th. Finally, StockNews.com upgraded Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.00.

Power Integrations Price Performance

Power Integrations stock opened at $60.59 on Tuesday. The stock has a market capitalization of $3.45 billion, a PE ratio of 91.80, a price-to-earnings-growth ratio of 6.50 and a beta of 1.10. Power Integrations, Inc. has a 12 month low of $56.63 and a 12 month high of $89.68. The business has a 50 day simple moving average of $62.47 and a 200-day simple moving average of $67.86.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 EPS for the quarter, topping 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 firm had revenue of $115.84 million during the quarter, compared to analysts’ expectations of $114.83 million. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities research analysts anticipate that Power Integrations, Inc. will post 0.54 EPS for the current fiscal year.

Power Integrations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.39%. This is a boost from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 29th. Power Integrations’s payout ratio is presently 127.27%.

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.