New York State Common Retirement Fund increased its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 90.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 183,880 shares of the semiconductor company’s stock after buying an additional 87,100 shares during the period. New York State Common Retirement Fund owned about 0.31% of Power Integrations worth $10,187,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the stock. Captrust Financial Advisors bought a new position in Power Integrations in the second quarter worth about $37,000. USA Financial Portformulas Corp bought a new stake in shares of Power Integrations in the 3rd quarter worth approximately $37,000. Cornerstone Advisors Inc. boosted its position in Power Integrations by 100.0% during the 3rd quarter. Cornerstone Advisors Inc. now owns 714 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 357 shares during the period. Huntington National Bank grew its stake in Power Integrations by 100.0% during the 3rd quarter. Huntington National Bank now owns 1,268 shares of the semiconductor company’s stock worth $70,000 after buying an additional 634 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc increased its position in Power Integrations by 166.7% in the third quarter. Guinness Atkinson Asset Management Inc now owns 1,520 shares of the semiconductor company’s stock worth $84,000 after buying an additional 950 shares during the period. 49.03% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on POWI. Zacks Investment Research raised shares of Power Integrations from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Tuesday, October 20th. Northland Securities raised Power Integrations from an “under perform” rating to a “market perform” rating and set a $65.00 price target on the stock in a report on Thursday, August 20th. BidaskClub raised Power Integrations from a “hold” rating to a “buy” rating in a report on Tuesday, November 10th. Stifel Nicolaus cut their target price on Power Integrations from $138.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, August 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Power Integrations from $93.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Power Integrations presently has a consensus rating of “Buy” and an average price target of $83.50.
POWI opened at $69.18 on Friday. Power Integrations, Inc. has a one year low of $38.57 and a one year high of $71.26. The stock’s fifty day moving average is $61.88 and its 200-day moving average is $89.20. The company has a market capitalization of $4.14 billion, a PE ratio of 20.29 and a beta of 1.02.
Power Integrations (NASDAQ:POWI) last released its earnings results on Thursday, October 29th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Power Integrations had a return on equity of 9.38% and a net margin of 45.94%. The firm had revenue of $121.13 million for the quarter, compared to analyst estimates of $115.18 million. During the same period in the previous year, the company earned $0.29 earnings per share. Power Integrations’s revenue was up 6.1% compared to the same quarter last year. Research analysts expect that Power Integrations, Inc. will post 1.02 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, November 30th will be issued a $0.11 dividend. The ex-dividend date is Friday, November 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.64%. Power Integrations’s payout ratio is currently 49.44%.
Power Integrations Company Profile
Power Integrations, Inc designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company offers a range of alternating current (AC) 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, LCD monitors, main and standby power supplies for desktop computers and TVs, LED lighting, and other consumer and industrial applications, as well as LED lighting.
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