State of Alaska Department of Revenue reduced its stake in shares of Power Integrations, Inc. (NASDAQ:POWI – Free Report) by 55.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,387 shares of the semiconductor company’s stock after selling 11,711 shares during the period. State of Alaska Department of Revenue’s holdings in Power Integrations were worth $486,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Harbor Investment Advisory LLC purchased a new stake in Power Integrations in the 2nd quarter worth approximately $33,000. Allworth Financial LP purchased a new position in Power Integrations during the second quarter valued at approximately $42,000. Global Retirement Partners LLC purchased a new position in Power Integrations during the second quarter valued at approximately $44,000. Northwestern Mutual Wealth Management Co. purchased a new position in Power Integrations during the second quarter valued at approximately $48,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Power Integrations by 125.5% in the first quarter. EverSource Wealth Advisors LLC now owns 814 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 453 shares during the period.
Analysts Set New Price Targets
A number of analysts have recently issued reports on POWI shares. Zacks Research cut shares of Power Integrations from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Wall Street Zen upgraded shares of Power Integrations from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Needham & Company LLC dropped their target price on shares of Power Integrations from $90.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Weiss Ratings upgraded Power Integrations from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Finally, Williams Trading set a $80.00 price target on Power Integrations in a report on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.83.
Get Our Latest Research Report on Power Integrations
Power Integrations Price Performance
POWI stock opened at $46.98 on Friday. Power Integrations, Inc. has a 1-year low of $30.86 and a 1-year high of $91.18. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 104.40 and a beta of 1.54. The business has a 50 day simple moving average of $50.84 and a two-hundred day simple moving average of $63.82.
Power Integrations (NASDAQ:POWI – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. Power Integrations had a net margin of 5.58% and a return on equity of 5.50%. The firm had revenue of $118.94 million for the quarter, compared to analysts’ expectations of $117.44 million. During the same quarter last year, the business posted $0.35 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts anticipate that Power Integrations, Inc. will post 0.77 EPS for the current fiscal year.
Power Integrations Company Profile
Power Integrations, Inc designs and manufactures high-performance semiconductor technologies used in energy-efficient power conversion. Its products help convert and control electrical power in applications such as consumer electronics, appliances, industrial equipment, communications infrastructure, renewable-energy systems, and electric vehicles.
The company’s product portfolio includes integrated circuits for AC-to-DC and DC-to-DC power supplies, LED lighting drivers, power-factor correction, motor drives, and high-voltage gate driving.
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