Sterling Capital Management LLC lessened its holdings in Power Integrations, Inc. (NASDAQ:POWI – Free Report) by 44.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,532 shares of the semiconductor company’s stock after selling 9,317 shares during the period. Sterling Capital Management LLC’s holdings in Power Integrations were worth $590,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Covestor Ltd lifted its stake in shares of Power Integrations by 13.8% in the fourth quarter. Covestor Ltd now owns 2,064 shares of the semiconductor company’s stock worth $73,000 after buying an additional 251 shares during the last quarter. Baird Financial Group Inc. increased its stake in Power Integrations by 5.4% in the first quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company’s stock valued at $255,000 after acquiring an additional 261 shares during the period. Cetera Investment Advisers raised its stake in Power Integrations by 2.7% during the fourth quarter. Cetera Investment Advisers now owns 12,972 shares of the semiconductor company’s stock worth $461,000 after acquiring an additional 340 shares in the last quarter. First National Bank of Omaha increased its holdings in shares of Power Integrations by 0.8% during the fourth quarter. First National Bank of Omaha now owns 46,047 shares of the semiconductor company’s stock worth $1,637,000 after buying an additional 366 shares in the last quarter. Finally, Orion Porfolio Solutions LLC increased its stake in shares of Power Integrations by 3.0% in the second quarter. Orion Porfolio Solutions LLC now owns 13,531 shares of the semiconductor company’s stock valued at $756,000 after buying an additional 389 shares in the last quarter.
Power Integrations Price Performance
Power Integrations stock opened at $72.99 on Friday. The company’s 50-day moving average is $77.22 and its 200-day moving average is $56.98. The firm has a market capitalization of $4.07 billion, a PE ratio of 243.31, a P/E/G ratio of 3.49 and a beta of 1.57. Power Integrations, Inc. has a fifty-two week low of $30.86 and a fifty-two week high of $91.18.
Power Integrations Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were issued a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, May 29th. Power Integrations’s dividend payout ratio is currently 286.67%.
Insider Activity
In other news, Director Balu Balakrishnan sold 124,287 shares of the stock in a transaction that occurred on 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 transaction, the director owned 279,516 shares in the company, valued at approximately $24,161,363.04. This trade represents a 30.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas Brathwaite sold 6,895 shares of the company’s stock in a transaction 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 completion of the transaction, the director directly owned 30,609 shares in the company, valued at approximately $2,216,397.69. This represents a 18.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 334,772 shares of company stock valued at $27,322,535. 1.40% of the stock is owned by insiders.
Analysts Set New Price Targets
Several research analysts recently weighed in on POWI shares. Weiss Ratings restated a “sell (d+)” rating on shares of Power Integrations in a research report on Friday, May 8th. Needham & Company LLC initiated coverage on shares of Power Integrations in a research note on Wednesday, June 10th. They set a “buy” rating and a $90.00 price objective on the stock. Zacks Research raised Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Benchmark upped their price target on shares of Power Integrations from $55.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Power Integrations in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Power Integrations presently has an average rating of “Moderate Buy” and an average target price of $76.20.
Get Our Latest Stock Report on POWI
Power Integrations Company Profile
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.
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