Power Integrations Inc (POWI) Shares Sold by Arizona State Retirement System

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Arizona State Retirement System lowered its stake in shares of Power Integrations Inc (NASDAQ:POWI) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,068 shares of the semiconductor company’s stock after selling 3,978 shares during the period. Arizona State Retirement System owned about 0.15% of Power Integrations worth $3,146,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in POWI. Robecosam AG boosted its holdings in Power Integrations by 94.7% during the first quarter. Robecosam AG now owns 370,000 shares of the semiconductor company’s stock worth $25,290,000 after buying an additional 180,000 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Power Integrations by 13.9% during the first quarter. Disciplined Growth Investors Inc. MN now owns 1,386,640 shares of the semiconductor company’s stock worth $94,777,000 after buying an additional 169,178 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Power Integrations by 213.7% during the first quarter. Handelsbanken Fonder AB now owns 194,476 shares of the semiconductor company’s stock worth $13,292,000 after buying an additional 132,476 shares in the last quarter. BlackRock Inc. boosted its holdings in Power Integrations by 2.0% during the first quarter. BlackRock Inc. now owns 3,763,713 shares of the semiconductor company’s stock worth $257,251,000 after buying an additional 73,087 shares in the last quarter. Finally, Carillon Tower Advisers Inc. boosted its holdings in Power Integrations by 679.3% during the first quarter. Carillon Tower Advisers Inc. now owns 55,803 shares of the semiconductor company’s stock worth $3,814,000 after buying an additional 48,642 shares in the last quarter. 98.13% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ POWI opened at $72.60 on Friday. Power Integrations Inc has a 12-month low of $60.55 and a 12-month high of $86.60. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 32.02 and a beta of 0.92.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.14). Power Integrations had a net margin of 6.76% and a return on equity of 13.07%. The business had revenue of $109.48 million during the quarter, compared to analysts’ expectations of $109.33 million. During the same period last year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. equities research analysts expect that Power Integrations Inc will post 2.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, August 31st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, August 30th. Power Integrations’s dividend payout ratio (DPR) is presently 28.07%.

Several brokerages have issued reports on POWI. Zacks Investment Research downgraded shares of Power Integrations from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. BidaskClub downgraded shares of Power Integrations from a “hold” rating to a “sell” rating in a report on Friday, July 27th. ValuEngine downgraded shares of Power Integrations from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Loop Capital began coverage on shares of Power Integrations in a report on Thursday, June 21st. They issued a “buy” rating and a $89.00 price target on the stock. Finally, TheStreet raised shares of Power Integrations from a “c+” rating to a “b-” rating in a report on Wednesday, May 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $84.20.

In other news, Director Balakrishnan S. Iyer sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $73.51, for a total value of $404,305.00. Following the completion of the transaction, the director now owns 20,240 shares of the company’s stock, valued at $1,487,842.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Balakrishnan S. Iyer sold 2,500 shares of the business’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 transaction of $183,750.00. Following the completion of the transaction, the director now directly owns 17,240 shares of the company’s stock, valued at approximately $1,267,140. The disclosure for this sale can be found here. Insiders sold 14,996 shares of company stock worth $1,134,240 in the last ninety days. Insiders own 4.00% of the company’s stock.

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

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