Madison Asset Management LLC Purchases Shares of 45,678 Power Integrations, Inc. $POWI

Madison Asset Management LLC acquired a new position in Power Integrations, Inc. (NASDAQ:POWI) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 45,678 shares of the semiconductor company’s stock, valued at approximately $3,826,000.

Several other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its position in shares of Power Integrations by 576.3% during the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 536 shares during the period. Harbor Investment Advisory LLC acquired a new stake in Power Integrations during the second quarter worth $33,000. Kestra Advisory Services LLC acquired a new stake in Power Integrations during the fourth quarter worth $36,000. UMB Bank n.a. increased its holdings in Power Integrations by 61.7% in the 4th quarter. UMB Bank n.a. now owns 1,074 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 410 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Power Integrations by 125.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 814 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 453 shares in the last quarter.

Power Integrations Price Performance

Shares of POWI opened at $54.84 on Friday. The company has a market capitalization of $3.06 billion, a P/E ratio of 121.87 and a beta of 1.58. Power Integrations, Inc. has a one year low of $30.86 and a one year high of $91.18. The business’s 50 day simple moving average is $70.17 and its 200-day simple moving average is $63.12.

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 analysts’ consensus estimates of $0.32 by $0.05. Power Integrations had a return on equity of 5.50% and a net margin of 5.58%.The firm had revenue of $118.94 million during the quarter, compared to analysts’ expectations of $117.44 million. During the same period last year, the firm posted $0.35 EPS. The business’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that Power Integrations, Inc. will post 0.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Power Integrations news, Director Nicholas Brathwaite sold 6,655 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $82.71, for a total transaction of $550,435.05. Following the sale, the director owned 23,954 shares of the company’s stock, valued at $1,981,235.34. This represents a 21.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sunil Gupta sold 15,894 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $82.18, for a total transaction of $1,306,168.92. Following the sale, the vice president directly owned 71,239 shares in the company, valued at $5,854,421.02. This trade represents a 18.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 273,997 shares of company stock worth $23,013,413 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on POWI shares. Stifel Nicolaus reduced their price objective on shares of Power Integrations from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Power Integrations in a research note on Friday, May 8th. Needham & Company LLC dropped their price target on shares of Power Integrations from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Zacks Research cut shares of Power Integrations from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Williams Trading set a $80.00 price objective on Power Integrations in a report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $72.67.

Power Integrations 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.