Power Integrations, Inc. (NASDAQ:POWI) Shares Sold by Pitcairn Co.

Pitcairn Co. decreased its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 17.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,644 shares of the semiconductor company’s stock after selling 1,167 shares during the period. Pitcairn Co.’s holdings in Power Integrations were worth $362,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CANADA LIFE ASSURANCE Co boosted its holdings in Power Integrations by 25.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 43,275 shares of the semiconductor company’s stock worth $3,095,000 after buying an additional 8,864 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Power Integrations during the 1st quarter worth approximately $559,000. Tidal Investments LLC acquired a new stake in shares of Power Integrations in the 1st quarter worth approximately $632,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Power Integrations by 7.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 8,622 shares of the semiconductor company’s stock worth $605,000 after acquiring an additional 633 shares during the last quarter. Finally, GAMMA Investing LLC lifted 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 acquiring an additional 150 shares in the last quarter.

Power Integrations Stock Down 3.5 %

NASDAQ:POWI opened at $65.66 on Wednesday. The company has a market cap of $3.73 billion, a P/E ratio of 99.49, a P/E/G ratio of 6.90 and a beta of 1.10. The firm’s 50 day moving average is $62.92 and its two-hundred day moving average is $67.53. Power Integrations, Inc. has a fifty-two week low of $56.63 and a fifty-two week high of $89.68.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share 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 business had revenue of $115.84 million for the quarter, compared to analyst estimates of $114.83 million. During the same period last year, the company posted $0.35 EPS. The business’s quarterly revenue was down 7.7% on a year-over-year basis. Research analysts forecast that Power Integrations, Inc. will post 0.54 earnings per share for the current fiscal year.

Power Integrations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.21 dividend. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Friday, November 29th. Power Integrations’s payout ratio is currently 121.21%.

Insider Transactions at Power Integrations

In related news, VP Doug Bailey sold 8,549 shares of Power Integrations stock in a transaction on Monday, November 11th. The shares were 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 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Benchmark reiterated a “buy” rating and set a $78.00 price objective on shares of Power Integrations in a research report on Friday, November 8th. Northland Securities upgraded shares of 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. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 target price (down from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.00.

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.