Needham Investment Management LLC Sells 7,100 Shares of Power Integrations, Inc. $POWI

Needham Investment Management LLC trimmed its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 21.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,400 shares of the semiconductor company’s stock after selling 7,100 shares during the period. Needham Investment Management LLC’s holdings in Power Integrations were worth $903,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Geneos Wealth Management Inc. raised 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 worth $32,000 after purchasing an additional 536 shares during the period. Kestra Advisory Services LLC bought a new stake in Power Integrations during the 4th quarter worth approximately $36,000. UMB Bank n.a. raised its holdings in Power Integrations by 61.7% during the 4th quarter. UMB Bank n.a. now owns 1,074 shares of the semiconductor company’s stock worth $38,000 after buying an additional 410 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in Power Integrations in the fourth quarter valued at approximately $48,000. Finally, Osaic Holdings Inc. lifted its stake in Power Integrations by 76.2% in the second quarter. Osaic Holdings Inc. now owns 1,721 shares of the semiconductor company’s stock valued at $92,000 after buying an additional 744 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on POWI shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Zacks Research raised shares of Power Integrations from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Stifel Nicolaus increased their target price on Power Integrations from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Needham & Company LLC started coverage on Power Integrations in a research note on Wednesday, June 10th. They issued a “buy” rating and a $90.00 price target on the stock. Finally, Northland Securities lowered Power Integrations from an “outperform” rating to a “market perform” rating and set a $46.00 price target on the stock. in a report on Monday, April 6th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Power Integrations presently has an average rating of “Hold” and a consensus price target of $69.60.

Power Integrations Stock Up 6.3%

NASDAQ POWI opened at $83.31 on Tuesday. Power Integrations, Inc. has a 12-month low of $30.86 and a 12-month high of $89.00. The company has a market capitalization of $4.64 billion, a PE ratio of 277.71, a price-to-earnings-growth ratio of 3.41 and a beta of 1.57. The firm’s 50 day moving average is $70.43 and its 200-day moving average is $52.75.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Thursday, May 7th. The semiconductor company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $108.31 million during the quarter, compared to analysts’ expectations of $106.75 million. Power Integrations had a net margin of 3.72% and a return on equity of 5.34%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, sell-side analysts expect that Power Integrations, Inc. will post 0.89 EPS for the current year.

Power Integrations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, May 29th. Power Integrations’s dividend payout ratio is currently 286.67%.

Insider Transactions at Power Integrations

In related news, Director Balu Balakrishnan sold 124,287 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $86.44, for a total transaction of $10,743,368.28. Following the sale, the director owned 279,516 shares in the company, valued at approximately $24,161,363.04. This represents a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Nicholas Brathwaite sold 6,895 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $72.41, for a total value of $499,266.95. Following the transaction, the director directly owned 30,609 shares of the company’s stock, valued at $2,216,397.69. This trade represents a 18.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 335,085 shares of company stock worth $27,338,789 in the last three months. Insiders own 1.40% of the company’s stock.

About Power Integrations

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.