Jennison Associates LLC Sells 22,779 Shares of Power Integrations, Inc. (NASDAQ:POWI)


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Jennison Associates LLC reduced its position in Power Integrations, Inc. (NASDAQ:POWI) by 63.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,006 shares of the semiconductor company’s stock after selling 22,779 shares during the quarter. Jennison Associates LLC’s holdings in Power Integrations were worth $1,065,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in Power Integrations in the fourth quarter worth about $54,000. First Horizon Advisors Inc. raised its holdings in Power Integrations by 43.9% in the third quarter. First Horizon Advisors Inc. now owns 915 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 279 shares in the last quarter. Huntington National Bank raised its holdings in Power Integrations by 100.0% in the third quarter. Huntington National Bank now owns 1,268 shares of the semiconductor company’s stock worth $70,000 after purchasing an additional 634 shares in the last quarter. Vestcor Inc raised its holdings in Power Integrations by 100.0% in the third quarter. Vestcor Inc now owns 1,438 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 719 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in Power Integrations by 84.1% in the third quarter. Fifth Third Bancorp now owns 1,451 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 663 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Shares of POWI stock opened at $92.76 on Tuesday. Power Integrations, Inc. has a fifty-two week low of $38.57 and a fifty-two week high of $99.05. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 27.57 and a beta of 0.98. The stock’s 50-day simple moving average is $90.16 and its 200-day simple moving average is $74.12.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Tuesday, February 2nd. The semiconductor company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.16. The firm had revenue of $150.69 million for the quarter, compared to analyst estimates of $129.88 million. Power Integrations had a return on equity of 8.34% and a net margin of 44.72%. Power Integrations’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. As a group, equities analysts expect that Power Integrations, Inc. will post 1.09 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 31st. Investors of record on Friday, February 26th will be given a $0.13 dividend. The ex-dividend date is Thursday, February 25th. This represents a $0.52 dividend on an annualized basis and a yield of 0.56%. This is a positive change from Power Integrations’s previous quarterly dividend of $0.11. Power Integrations’s dividend payout ratio is currently 49.44%.

In other Power Integrations news, VP Radu Barsan sold 2,629 shares of the company’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $93.78, for a total value of $246,547.62. Following the sale, the vice president now owns 62,000 shares in the company, valued at approximately $5,814,360. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Nicholas Brathwaite sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 1st. The stock was sold at an average price of $72.71, for a total value of $1,163,360.00. Following the completion of the sale, the director now owns 67,726 shares in the company, valued at approximately $4,924,357.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,703 shares of company stock worth $7,395,620. 2.10% of the stock is owned by insiders.

A number of equities analysts have commented on POWI shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Power Integrations from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, December 17th. Zacks Investment Research lowered Power Integrations from a “buy” rating to a “hold” rating in a research note on Tuesday, February 9th. Loop Capital boosted their price target on Power Integrations from $70.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, February 3rd. Cowen boosted their price target on Power Integrations from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 3rd. Finally, Northland Securities boosted their price target on Power Integrations from $65.00 to $90.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Power Integrations currently has an average rating of “Buy” and an average price target of $89.00.

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 offers a range of alternating current (AC) 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, LED lighting, and other consumer and industrial applications, as well as LED lighting.

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Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

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