Ameriprise Financial Inc. decreased its stake in Power Integrations Inc. (NASDAQ:POWI) by 26.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 173,168 shares of the company’s stock after selling 61,234 shares during the period. Ameriprise Financial Inc. owned 0.60% of Power Integrations worth $8,671,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP boosted its stake in Power Integrations by 6.9% in the second quarter. First Trust Advisors LP now owns 43,367 shares of the company’s stock valued at $2,171,000 after buying an additional 2,811 shares in the last quarter. Tygh Capital Management Inc. boosted its stake in Power Integrations by 71.5% in the second quarter. Tygh Capital Management Inc. now owns 116,273 shares of the company’s stock valued at $5,822,000 after buying an additional 48,485 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in Power Integrations during the second quarter valued at about $3,436,000. Rothschild Asset Management Inc. boosted its stake in Power Integrations by 10.5% in the second quarter. Rothschild Asset Management Inc. now owns 80,997 shares of the company’s stock valued at $4,056,000 after buying an additional 7,728 shares in the last quarter. Finally, Kleinwort Benson Investors Dublin Ltd acquired a new stake in Power Integrations during the second quarter valued at about $3,824,000. Hedge funds and other institutional investors own 97.78% of the company’s stock.
Shares of Power Integrations Inc. (NASDAQ:POWI) traded up 0.53% during trading on Tuesday, hitting $64.11. The stock had a trading volume of 54,600 shares. The firm’s 50-day moving average is $59.36 and its 200 day moving average is $52.67. Power Integrations Inc. has a 52-week low of $39.53 and a 52-week high of $64.36. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 42.63 and a beta of 1.13.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.09. The business earned $97.20 million during the quarter, compared to analysts’ expectations of $91.22 million. Power Integrations had a return on equity of 11.64% and a net margin of 12.36%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. On average, analysts expect that Power Integrations Inc. will post $2.33 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st were issued a $0.13 dividend. The ex-dividend date was Monday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 0.82%. Power Integrations’s dividend payout ratio (DPR) is presently 34.44%.
Several analysts recently issued reports on the company. Zacks Investment Research cut Power Integrations from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. Deutsche Bank AG increased their target price on Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Sidoti cut Power Integrations from a “buy” rating to a “neutral” rating in a report on Thursday, June 23rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Power Integrations has a consensus rating of “Buy” and a consensus price target of $60.40.
In other news, CEO Balu Balakrishnan sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the transaction, the chief executive officer now owns 210,730 shares of the company’s stock, valued at approximately $11,590,150. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan Bickell sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $58.39, for a total value of $233,560.00. Following the completion of the transaction, the director now directly owns 14,534 shares of the company’s stock, valued at approximately $848,640.26. The disclosure for this sale can be found here. 5.70% of the stock is owned by insiders.
About Power Integrations
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’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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