Legacy Wealth Asset Management LLC Sells 1,764 Shares of Power Integrations, Inc. $POWI

Legacy Wealth Asset Management LLC trimmed its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 25.2% during the second quarter, HoldingsChannel reports. The firm owned 5,230 shares of the semiconductor company’s stock after selling 1,764 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Power Integrations were worth $292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP boosted its position in shares of Power Integrations by 257.8% during the first quarter. Allworth Financial LP now owns 594 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 428 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Power Integrations by 364.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 622 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 488 shares in the last quarter. Geneos Wealth Management Inc. boosted 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 in the last quarter. Bayforest Capital Ltd boosted its position in shares of Power Integrations by 54.3% during the first quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 222 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Power Integrations by 841.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 781 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 698 shares in the last quarter.

Power Integrations Trading Down 1.3%

Shares of NASDAQ POWI opened at $44.69 on Wednesday. The firm has a market cap of $2.51 billion, a PE ratio of 77.05, a PEG ratio of 2.96 and a beta of 1.37. Power Integrations, Inc. has a 1-year low of $34.55 and a 1-year high of $69.53. The company has a fifty day moving average price of $43.67 and a 200 day moving average price of $48.95.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The firm had revenue of $115.85 million for the quarter, compared to analysts’ expectations of $115.02 million. During the same period in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts forecast that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 1.9%. Power Integrations’s payout ratio is 144.83%.

Insider Activity

In other Power Integrations news, VP Gagan Jain sold 2,036 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $46.05, for a total transaction of $93,757.80. Following the sale, the vice president directly owned 18,812 shares of the company’s stock, valued at $866,292.60. The trade was a 9.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Doug Bailey sold 16,989 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $46.41, for a total transaction of $788,459.49. Following the sale, the vice president directly owned 50,798 shares in the company, valued at $2,357,535.18. This trade represents a 25.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,470 shares of company stock worth $1,697,214 over the last three months. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on POWI. Weiss Ratings reissued a “sell (d+)” rating on shares of Power Integrations in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Susquehanna reduced their target price on shares of Power Integrations from $70.00 to $55.00 and set a “positive” rating for the company in a research note on Thursday, August 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of Power Integrations in a research note on Tuesday, September 23rd. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.67.

Power Integrations 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 provides a range of alternating current to direct current power conversion products that address power supply ranging from less than one 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 various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.