Oppenheimer Asset Management Inc. cut its position in Power Integrations Inc (NASDAQ:POWI) by 14.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,463 shares of the semiconductor company’s stock after selling 2,587 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.05% of Power Integrations worth $1,397,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of POWI. Morgan Stanley raised its holdings in Power Integrations by 1,028.0% in the second quarter. Morgan Stanley now owns 139,504 shares of the semiconductor company’s stock worth $11,186,000 after buying an additional 127,137 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Power Integrations by 1,806.2% in the second quarter. Nuveen Asset Management LLC now owns 126,172 shares of the semiconductor company’s stock worth $10,116,000 after buying an additional 119,553 shares during the last quarter. Atria Investments LLC purchased a new position in Power Integrations in the second quarter worth about $9,640,000. Copeland Capital Management LLC raised its holdings in Power Integrations by 20.8% in the second quarter. Copeland Capital Management LLC now owns 452,373 shares of the semiconductor company’s stock worth $36,272,000 after buying an additional 77,882 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Power Integrations by 7.8% in the second quarter. Invesco Ltd. now owns 937,237 shares of the semiconductor company’s stock worth $75,147,000 after buying an additional 68,121 shares during the last quarter. 97.02% of the stock is owned by institutional investors and hedge funds.
Shares of POWI stock opened at $93.25 on Friday. The company has a 50 day moving average price of $91.20 and a 200-day moving average price of $82.62. Power Integrations Inc has a 52 week low of $55.24 and a 52 week high of $102.38. The firm has a market capitalization of $2.78 billion, a PE ratio of 43.57 and a beta of 1.25.
Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Thursday, October 24th. The semiconductor company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. Power Integrations had a net margin of 14.50% and a return on equity of 9.64%. The firm had revenue of $114.16 million during the quarter, compared to analyst estimates of $114.20 million. During the same period in the previous year, the business posted $0.77 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts forecast that Power Integrations Inc will post 1.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, November 27th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.82%. Power Integrations’s payout ratio is currently 31.78%.
A number of analysts have recently commented on POWI shares. Deutsche Bank set a $80.00 price target on shares of Power Integrations and gave the stock a “hold” rating in a research note on Friday, July 26th. Stifel Nicolaus set a $104.00 price target on shares of Power Integrations and gave the stock a “buy” rating in a research note on Friday, October 25th. Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Saturday, October 12th. Northland Securities reiterated an “underperform” rating and issued a $70.00 price target on shares of Power Integrations in a research note on Monday, July 29th. Finally, ValuEngine lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Power Integrations has an average rating of “Hold” and a consensus target price of $91.20.
In related news, VP Doug Bailey sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $91.55, for a total transaction of $183,100.00. Following the completion of the sale, the vice president now directly owns 59,298 shares in the company, valued at $5,428,731.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Balakrishnan S. Iyer sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $89.00, for a total transaction of $356,000.00. Following the sale, the director now owns 20,240 shares of the company’s stock, valued at $1,801,360. The disclosure for this sale can be found here. Insiders sold 103,254 shares of company stock valued at $9,495,564 over the last quarter. Company insiders own 4.10% of the company’s stock.
Power Integrations Company Profile
Power Integrations, Inc designs, develops, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 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, and other consumer and industrial applications, as well as light-emitting diode lighting.
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