Riverbridge Partners LLC trimmed its position in Power Integrations Inc (NASDAQ:POWI) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 329,749 shares of the semiconductor company’s stock after selling 6,822 shares during the quarter. Riverbridge Partners LLC owned approximately 1.12% of Power Integrations worth $29,819,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. We Are One Seven LLC bought a new stake in shares of Power Integrations in the 3rd quarter valued at approximately $206,000. State of Alaska Department of Revenue increased its holdings in shares of Power Integrations by 127.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 22,620 shares of the semiconductor company’s stock valued at $2,045,000 after acquiring an additional 12,657 shares during the last quarter. Atria Investments LLC bought a new stake in shares of Power Integrations in the 2nd quarter valued at approximately $9,640,000. BlackRock Inc. grew its stake in Power Integrations by 0.7% during the 2nd quarter. BlackRock Inc. now owns 4,230,257 shares of the semiconductor company’s stock worth $339,182,000 after buying an additional 30,956 shares during the last quarter. Finally, Cresset Asset Management LLC grew its stake in Power Integrations by 146.6% during the 2nd quarter. Cresset Asset Management LLC now owns 3,958 shares of the semiconductor company’s stock worth $317,000 after buying an additional 2,353 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.
In other news, Director Balakrishnan S. Iyer sold 4,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $89.00, for a total value of $356,000.00. Following the completion of the transaction, the director now owns 20,240 shares of the company’s stock, valued at $1,801,360. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Doug Bailey sold 2,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.55, for a total value of $181,100.00. Following the completion of the transaction, the vice president now directly owns 59,298 shares of the company’s stock, valued at approximately $5,369,433.90. The disclosure for this sale can be found here. In the last three months, insiders sold 90,970 shares of company stock valued at $8,269,599. Company insiders own 4.10% of the company’s stock.
A number of research analysts recently commented on the company. Deutsche Bank set a $80.00 price objective on Power Integrations and gave the stock a “hold” rating in a research note on Friday, July 26th. ValuEngine downgraded Power Integrations from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub upgraded Power Integrations from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 27th. Zacks Investment Research upgraded Power Integrations from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Saturday. Finally, Stifel Nicolaus set a $97.00 price objective on Power Integrations and gave the stock a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Power Integrations has an average rating of “Hold” and an average price target of $84.60.
Shares of POWI opened at $91.12 on Friday. The company has a market cap of $2.52 billion, a P/E ratio of 42.58 and a beta of 1.23. The stock has a fifty day moving average price of $89.36 and a 200 day moving average price of $80.05. Power Integrations Inc has a 12 month low of $47.35 and a 12 month high of $102.38.
Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.03. Power Integrations had a return on equity of 9.87% and a net margin of 14.79%. The company had revenue of $102.87 million during the quarter, compared to analysts’ expectations of $100.04 million. During the same quarter in the prior year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. Equities analysts predict that Power Integrations Inc will post 1.78 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 30th were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.68 annualized dividend and a dividend yield of 0.75%. Power Integrations’s payout ratio is 31.78%.
Power Integrations 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 worldwide. The company offers a range of alternating current 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, and other consumer and industrial applications, as well as light-emitting diode lighting.
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