Power Integrations, Inc. $POWI Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lessened its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 44.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,532 shares of the semiconductor company’s stock after selling 9,317 shares during the period. Sterling Capital Management LLC’s holdings in Power Integrations were worth $590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Snyder Capital Management L P boosted its position in Power Integrations by 148.8% during the 4th quarter. Snyder Capital Management L P now owns 2,064,707 shares of the semiconductor company’s stock worth $73,380,000 after purchasing an additional 1,234,981 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Power Integrations by 1,885.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 943,365 shares of the semiconductor company’s stock worth $33,528,000 after buying an additional 895,857 shares during the period. M&T Bank Corp grew its stake in shares of Power Integrations by 3,635.7% in the fourth quarter. M&T Bank Corp now owns 748,555 shares of the semiconductor company’s stock valued at $26,604,000 after buying an additional 728,517 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Power Integrations by 35.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,261,281 shares of the semiconductor company’s stock valued at $90,926,000 after buying an additional 595,404 shares during the period. Finally, State Street Corp lifted its position in Power Integrations by 18.0% during the 4th quarter. State Street Corp now owns 3,400,970 shares of the semiconductor company’s stock worth $120,870,000 after acquiring an additional 518,284 shares in the last quarter.

Insider Buying and Selling at Power Integrations

In other news, Director Nicholas Brathwaite sold 1,728 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $86.62, for a total value of $149,679.36. Following the completion of the sale, the director owned 22,226 shares of the company’s stock, valued at $1,925,216.12. This trade represents a 7.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Balu Balakrishnan sold 124,287 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $86.44, for a total value of $10,743,368.28. Following the completion of the sale, the director directly owned 279,516 shares of the company’s stock, valued at approximately $24,161,363.04. This represents a 30.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 334,772 shares of company stock valued at $27,322,535 in the last three months. 1.40% of the stock is currently owned by company insiders.

Power Integrations Price Performance

Shares of POWI opened at $72.99 on Friday. The stock has a market capitalization of $4.07 billion, a P/E ratio of 243.31, a P/E/G ratio of 3.49 and a beta of 1.57. Power Integrations, Inc. has a 12-month low of $30.86 and a 12-month high of $91.18. The firm’s 50 day moving average is $77.22 and its 200-day moving average is $56.98.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Power Integrations had a return on equity of 5.34% and a net margin of 3.72%.The company had revenue of $108.31 million during the quarter, compared to the consensus estimate of $106.75 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts forecast that Power Integrations, Inc. will post 0.89 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were issued a dividend of $0.215 per share. The ex-dividend date was Friday, May 29th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.2%. Power Integrations’s payout ratio is currently 286.67%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on POWI. Weiss Ratings restated a “sell (d+)” rating on shares of Power Integrations in a report on Friday, May 8th. Benchmark boosted their target price on shares of Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Stifel Nicolaus boosted their price target on Power Integrations from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Finally, Zacks Research upgraded shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $76.20.

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.