Grandeur Peak Global Advisors LLC lowered its holdings in Power Integrations Inc (NASDAQ:POWI) by 0.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 355,140 shares of the semiconductor company’s stock after selling 3,375 shares during the quarter. Power Integrations accounts for approximately 2.7% of Grandeur Peak Global Advisors LLC’s investment portfolio, making the stock its 11th largest holding. Grandeur Peak Global Advisors LLC’s holdings in Power Integrations were worth $25,943,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in POWI. Wells Fargo & Company MN raised its holdings in shares of Power Integrations by 6.6% in the 1st quarter. Wells Fargo & Company MN now owns 139,999 shares of the semiconductor company’s stock valued at $9,569,000 after acquiring an additional 8,634 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Power Integrations by 16.4% in the 1st quarter. Rhumbline Advisers now owns 79,892 shares of the semiconductor company’s stock valued at $5,461,000 after acquiring an additional 11,252 shares in the last quarter. Comerica Bank raised its holdings in shares of Power Integrations by 3.0% in the 1st quarter. Comerica Bank now owns 31,818 shares of the semiconductor company’s stock valued at $2,221,000 after acquiring an additional 927 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Power Integrations by 25.0% in the 1st quarter. SG Americas Securities LLC now owns 8,924 shares of the semiconductor company’s stock valued at $610,000 after acquiring an additional 1,786 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Power Integrations by 0.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 128,705 shares of the semiconductor company’s stock valued at $8,797,000 after acquiring an additional 760 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 $71.05 on Friday. The stock has a market cap of $2.11 billion, a P/E ratio of 31.16 and a beta of 0.90. Power Integrations Inc has a 1-year low of $60.55 and a 1-year high of $86.60.
Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, July 26th. The semiconductor company reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.14). The firm had revenue of $109.48 million for the quarter, compared to analysts’ expectations of $109.33 million. Power Integrations had a net margin of 6.76% and a return on equity of 13.07%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. research analysts anticipate that Power Integrations Inc will post 2.13 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, August 31st will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.90%. Power Integrations’s dividend payout ratio is 28.07%.
Several analysts have weighed in on POWI shares. TheStreet raised Power Integrations from a “c+” rating to a “b-” rating in a report on Wednesday, May 23rd. BidaskClub raised Power Integrations from a “hold” rating to a “buy” rating in a report on Thursday, May 31st. Loop Capital started coverage on Power Integrations in a report on Thursday, June 21st. They issued a “buy” rating and a $89.00 price target on the stock. ValuEngine raised Power Integrations from a “hold” rating to a “buy” rating in a report on Thursday, June 14th. Finally, Zacks Investment Research cut Power Integrations from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $84.20.
In other Power Integrations news, Director Balakrishnan S. Iyer sold 5,500 shares of Power Integrations stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $73.51, for a total value of $404,305.00. Following the transaction, the director now directly owns 20,240 shares of the company’s stock, valued at approximately $1,487,842.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nicholas Brathwaite sold 4,166 shares of Power Integrations stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $80.00, for a total value of $333,280.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,980 shares of company stock worth $1,197,456. 4.00% of the stock is currently owned by insiders.
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.
Want to see what other hedge funds are holding POWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Power Integrations Inc (NASDAQ:POWI).
Receive News & Ratings for Power Integrations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Power Integrations and related companies with MarketBeat.com's FREE daily email newsletter.