Jennison Associates LLC decreased its position in shares of Power Integrations Inc (NASDAQ:POWI) by 12.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,733 shares of the semiconductor company’s stock after selling 699 shares during the quarter. Jennison Associates LLC’s holdings in Power Integrations were worth $346,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in POWI. Guggenheim Capital LLC boosted its stake in shares of Power Integrations by 37.0% during the 4th quarter. Guggenheim Capital LLC now owns 8,528 shares of the semiconductor company’s stock worth $626,000 after acquiring an additional 2,303 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Power Integrations during the 4th quarter worth approximately $917,000. Wells Fargo & Company MN boosted its stake in shares of Power Integrations by 6.6% during the 1st quarter. Wells Fargo & Company MN now owns 139,999 shares of the semiconductor company’s stock worth $9,569,000 after acquiring an additional 8,634 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Power Integrations by 16.4% during the 1st quarter. Rhumbline Advisers now owns 79,892 shares of the semiconductor company’s stock worth $5,461,000 after acquiring an additional 11,252 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of Power Integrations by 9.2% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 291,342 shares of the semiconductor company’s stock worth $19,913,000 after acquiring an additional 24,600 shares in the last quarter. 96.52% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Doug Bailey sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $71.35, for a total value of $35,675.00. Following the sale, the vice president now owns 53,873 shares of the company’s stock, valued at approximately $3,843,838.55. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Balakrishnan S. Iyer sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $73.50, for a total value of $183,750.00. Following the completion of the sale, the director now directly owns 17,240 shares in the company, valued at approximately $1,267,140. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,640 shares of company stock worth $1,635,155. 4.00% of the stock is owned by corporate insiders.
POWI has been the topic of several research analyst reports. BidaskClub lowered Power Integrations from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. ValuEngine lowered Power Integrations from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. TheStreet raised Power Integrations from a “c+” rating to a “b-” rating in a research note on Wednesday, May 23rd. Loop Capital began coverage on Power Integrations in a research note on Thursday, June 21st. They issued a “buy” rating and a $89.00 target price on the stock. Finally, Zacks Investment Research lowered Power Integrations from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $84.20.
POWI stock opened at $72.10 on Monday. Power Integrations Inc has a 1 year low of $60.55 and a 1 year high of $86.60. The company has a market capitalization of $2.13 billion, a P/E ratio of 31.62 and a beta of 0.92.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, July 26th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.14). Power Integrations had a net margin of 6.76% and a return on equity of 13.07%. The company had revenue of $109.48 million during the quarter, compared to analysts’ expectations of $109.33 million. During the same period in the previous year, the company posted $0.69 EPS. Power Integrations’s quarterly revenue was up 1.8% compared to the same quarter last year. equities analysts forecast that Power Integrations Inc will post 2.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, August 31st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, August 30th. Power Integrations’s payout ratio is currently 28.07%.
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. 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, liquid-crystal-display monitors, main and standby power supplies for desktop computers and TVs, light-emitting diode lamps, and other consumer and industrial applications.
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