Legal & General Group Plc Takes $11.21 Million Position in Power Integrations, Inc. $POWI

Legal & General Group Plc bought a new position in shares of Power Integrations, Inc. (NASDAQ:POWI) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 133,777 shares of the semiconductor company’s stock, valued at approximately $11,205,000.

Several other large investors also recently modified their holdings of the business. Covestor Ltd increased its holdings in Power Integrations by 13.8% during the 4th quarter. Covestor Ltd now owns 2,064 shares of the semiconductor company’s stock valued at $73,000 after purchasing an additional 251 shares during the period. Baird Financial Group Inc. lifted its holdings in Power Integrations by 5.4% in the 1st quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company’s stock worth $255,000 after buying an additional 261 shares during the period. Cetera Investment Advisers lifted its holdings in Power Integrations by 2.7% in the 4th quarter. Cetera Investment Advisers now owns 12,972 shares of the semiconductor company’s stock worth $461,000 after buying an additional 340 shares during the period. First National Bank of Omaha grew its position in shares of Power Integrations by 0.8% in the 4th quarter. First National Bank of Omaha now owns 46,047 shares of the semiconductor company’s stock worth $1,637,000 after buying an additional 366 shares during the last quarter. Finally, Orion Porfolio Solutions LLC grew its position in shares of Power Integrations by 3.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,531 shares of the semiconductor company’s stock worth $756,000 after buying an additional 389 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently commented on POWI shares. Zacks Research downgraded Power Integrations from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Wall Street Zen upgraded shares of Power Integrations from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Stifel Nicolaus reduced their price objective on shares of Power Integrations from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Power Integrations from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.67.

Power Integrations Stock Performance

Shares of NASDAQ:POWI opened at $51.38 on Tuesday. The firm has a market capitalization of $2.87 billion, a P/E ratio of 114.18 and a beta of 1.58. The stock has a 50 day moving average price of $66.03 and a 200-day moving average price of $63.48. Power Integrations, Inc. has a 52-week low of $30.86 and a 52-week high of $91.18.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $118.94 million for the quarter, compared to analyst estimates of $117.44 million. Power Integrations had a return on equity of 5.50% and a net margin of 5.58%.The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. On average, equities analysts forecast that Power Integrations, Inc. will post 0.77 EPS for the current fiscal year.

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.