Harbor Capital Advisors Inc. Cuts Stake in Power Integrations, Inc. $POWI

Harbor Capital Advisors Inc. lessened its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 66.1% during the 3rd quarter, Holdings Channel reports. The firm owned 11,722 shares of the semiconductor company’s stock after selling 22,837 shares during the period. Harbor Capital Advisors Inc.’s holdings in Power Integrations were worth $471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in POWI. Hantz Financial Services Inc. grew its holdings in Power Integrations by 475.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 478 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 395 shares in the last quarter. Bayforest Capital Ltd boosted its position in shares of Power Integrations by 54.3% during the first quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 222 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Power Integrations by 576.3% during the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 536 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Power Integrations by 125.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 585 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 326 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Power Integrations by 364.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 622 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 488 shares in the last quarter.

Power Integrations Price Performance

POWI opened at $37.30 on Monday. Power Integrations, Inc. has a 1 year low of $30.86 and a 1 year high of $68.20. The business’s 50-day moving average is $37.09 and its two-hundred day moving average is $44.39. The firm has a market capitalization of $2.06 billion, a PE ratio of 120.32, a price-to-earnings-growth ratio of 8.45 and a beta of 1.40.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Wednesday, November 5th. The semiconductor company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $118.92 million during the quarter, compared to analysts’ expectations of $118.36 million. Power Integrations had a return on equity of 4.49% and a net margin of 4.03%.The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.40 earnings per share. As a group, sell-side analysts expect that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, November 28th. Power Integrations’s payout ratio is currently 270.97%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Benchmark restated a “buy” rating and set a $50.00 price objective on shares of Power Integrations in a research report on Wednesday, December 10th. Weiss Ratings restated a “sell (d)” rating on shares of Power Integrations in a report on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Insider Activity

In other Power Integrations news, VP Gagan Jain sold 1,033 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $33.80, for a total transaction of $34,915.40. Following the transaction, the vice president owned 17,212 shares in the company, valued at approximately $581,765.60. This represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by insiders.

Power Integrations Company Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.