State of Alaska Department of Revenue Raises Position in Power Integrations, Inc. (POWI)
State of Alaska Department of Revenue increased its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 80.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,866 shares of the semiconductor company’s stock after buying an additional 2,616 shares during the period. State of Alaska Department of Revenue’s holdings in Power Integrations were worth $427,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in POWI. Municipal Employees Retirement System of Michigan raised its stake in Power Integrations by 2.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 7,800 shares of the semiconductor company’s stock worth $513,000 after buying an additional 150 shares during the last quarter. SG Americas Securities LLC raised its stake in Power Integrations by 181.1% in the first quarter. SG Americas Securities LLC now owns 6,662 shares of the semiconductor company’s stock worth $438,000 after buying an additional 4,292 shares during the last quarter. Guggenheim Capital LLC raised its stake in Power Integrations by 14.8% in the fourth quarter. Guggenheim Capital LLC now owns 10,413 shares of the semiconductor company’s stock worth $707,000 after buying an additional 1,343 shares during the last quarter. Stephens Investment Management Group LLC raised its stake in Power Integrations by 8.5% in the first quarter. Stephens Investment Management Group LLC now owns 638,810 shares of the semiconductor company’s stock worth $42,002,000 after buying an additional 50,229 shares during the last quarter. Finally, Mason Street Advisors LLC raised its stake in Power Integrations by 8.0% in the first quarter. Mason Street Advisors LLC now owns 6,878 shares of the semiconductor company’s stock worth $452,000 after buying an additional 510 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors.
Shares of Power Integrations, Inc. (NASDAQ:POWI) opened at 81.75 on Tuesday. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 46.98 and a beta of 1.23. The stock has a 50 day moving average of $71.84 and a 200-day moving average of $67.51. Power Integrations, Inc. has a 1-year low of $53.18 and a 1-year high of $82.80.
Power Integrations (NASDAQ:POWI) last issued its earnings results on Thursday, April 27th. The semiconductor company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.11. Power Integrations had a return on equity of 12.19% and a net margin of 13.07%. The firm had revenue of $104.70 million during the quarter, compared to the consensus estimate of $102.21 million. During the same quarter in the prior year, the business posted $0.55 EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. Analysts forecast that Power Integrations, Inc. will post $2.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, May 26th. Power Integrations’s dividend payout ratio is 31.29%.
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A number of equities research analysts have weighed in on POWI shares. Stifel Nicolaus reissued a “buy” rating and set a $82.00 target price (up from $75.00) on shares of Power Integrations in a report on Friday, June 30th. Sidoti started coverage on shares of Power Integrations in a research note on Monday, April 17th. They issued a “neutral” rating on the stock. Zacks Investment Research raised shares of Power Integrations from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Saturday, June 24th. Finally, BidaskClub lowered shares of Power Integrations from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 16th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $74.00.
In other news, insider Balu Balakrishnan sold 1,836 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $63.68, for a total value of $116,916.48. Following the transaction, the insider now owns 244,576 shares in the company, valued at $15,574,599.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Raja Petrakian sold 1,116 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $63.05, for a total transaction of $70,363.80. Following the completion of the transaction, the vice president now owns 33,087 shares in the company, valued at approximately $2,086,135.35. The disclosure for this sale can be found here. Insiders sold 136,933 shares of company stock worth $10,420,663 in the last 90 days. Company insiders own 4.30% of the company’s stock.
About Power Integrations
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. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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