Oppenheimer Asset Management Inc. Takes Position in Power Integrations, Inc. (POWI)

Oppenheimer Asset Management Inc. bought a new position in shares of Power Integrations, Inc. (NASDAQ:POWI) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 26,891 shares of the semiconductor company’s stock, valued at approximately $1,767,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of POWI. Tyers Asset Management LLC bought a new position in Power Integrations during the fourth quarter worth approximately $114,000. Asset Management One Co. Ltd. bought a new position in Power Integrations during the fourth quarter worth approximately $129,000. Flinton Capital Management LLC bought a new position in Power Integrations during the fourth quarter worth approximately $138,000. Victory Capital Management Inc. increased its position in Power Integrations by 22.7% in the first quarter. Victory Capital Management Inc. now owns 2,210 shares of the semiconductor company’s stock worth $145,000 after buying an additional 409 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new position in Power Integrations during the first quarter worth approximately $156,000. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Power Integrations, Inc. (NASDAQ:POWI) traded down 2.09% on Tuesday, reaching $63.25. 66,220 shares of the company’s stock traded hands. The company has a 50 day moving average of $66.20 and a 200-day moving average of $66.37. Power Integrations, Inc. has a 52 week low of $47.00 and a 52 week high of $72.65. The stock has a market capitalization of $1.88 billion, a PE ratio of 36.35 and a beta of 1.16.

Power Integrations (NASDAQ:POWI) last released its earnings results on Thursday, April 27th. The semiconductor company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.11. Power Integrations had a net margin of 13.07% and a return on equity of 12.19%. The business had revenue of $104.70 million for the quarter, compared to the consensus estimate of $102.21 million. During the same quarter in the previous year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities research analysts forecast that Power Integrations, Inc. will post $2.81 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, May 26th. This represents a $0.56 annualized dividend and a yield of 0.87%. Power Integrations’s payout ratio is 31.29%.

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A number of research analysts recently commented on POWI shares. Sidoti raised shares of Power Integrations from a “neutral” rating to a “buy” rating in a research report on Monday, May 15th. Zacks Investment Research raised shares of Power Integrations from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Friday, May 5th. Finally, BidaskClub downgraded shares of Power Integrations from a “strong-buy” rating to a “buy” rating in a research report on Friday. Six equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $72.50.

In other news, insider Balu Balakrishnan sold 1,836 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $63.68, for a total transaction of $116,916.48. Following the completion of the transaction, the insider now owns 244,576 shares in the company, valued at $15,574,599.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Mh Matthews sold 776 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $67.04, for a total transaction of $52,023.04. Following the transaction, the vice president now owns 44,405 shares of the company’s stock, valued at approximately $2,976,911.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,933 shares of company stock valued at $393,063. 4.30% of the stock is 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’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:POWI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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