Stephens Investment Management Group LLC Trims Position in Power Integrations, Inc. (POWI)
Stephens Investment Management Group LLC lessened its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 0.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 637,966 shares of the semiconductor company’s stock after selling 844 shares during the period. Power Integrations makes up about 1.1% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 24th largest position. Stephens Investment Management Group LLC owned about 2.14% of Power Integrations worth $46,508,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Huntington National Bank increased its position in Power Integrations by 22.8% in the second quarter. Huntington National Bank now owns 1,504 shares of the semiconductor company’s stock worth $110,000 after purchasing an additional 279 shares during the last quarter. Victory Capital Management Inc. increased its position in Power Integrations by 22.7% in the first quarter. Victory Capital Management Inc. now owns 2,210 shares of the semiconductor company’s stock worth $145,000 after purchasing an additional 409 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in Power Integrations in the first quarter worth $156,000. Riverhead Capital Management LLC increased its position in Power Integrations by 71.2% in the second quarter. Riverhead Capital Management LLC now owns 2,397 shares of the semiconductor company’s stock worth $175,000 after purchasing an additional 997 shares during the last quarter. Finally, Turner Investments LLC bought a new stake in Power Integrations in the second quarter worth $182,000. Institutional investors own 95.75% of the company’s stock.
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In related news, insider Balu Balakrishnan sold 50,000 shares of the company’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $75.00, for a total value of $3,750,000.00. Following the completion of the transaction, the insider now directly owns 319,576 shares in the company, valued at $23,968,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Mh Matthews sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $71.22, for a total value of $71,220.00. Following the completion of the transaction, the vice president now owns 43,405 shares of the company’s stock, valued at $3,091,304.10. The disclosure for this sale can be found here. Insiders sold 134,593 shares of company stock worth $10,278,057 over the last 90 days. Company insiders own 4.30% of the company’s stock.
Shares of Power Integrations, Inc. (NASDAQ:POWI) traded up 1.08% during mid-day trading on Monday, hitting $74.75. 39,066 shares of the stock were exchanged. Power Integrations, Inc. has a 12 month low of $56.74 and a 12 month high of $82.80. The company has a 50-day moving average price of $71.67 and a 200-day moving average price of $68.30. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 41.55 and a beta of 1.23.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. Power Integrations had a return on equity of 12.08% and a net margin of 13.37%. The business had revenue of $107.56 million for the quarter, compared to the consensus estimate of $107.85 million. During the same period in the prior year, the business earned $0.61 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. Equities analysts expect that Power Integrations, Inc. will post $2.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be given a $0.14 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.56 annualized dividend and a dividend yield of 0.76%. Power Integrations’s dividend payout ratio is currently 29.95%.
Several brokerages recently weighed in on POWI. Stifel Nicolaus restated a “buy” rating and issued a $85.00 price target (up previously from $82.00) on shares of Power Integrations in a research report on Sunday, July 30th. BidaskClub upgraded shares of Power Integrations from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Zacks Investment Research lowered shares of Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research note on Tuesday, May 30th. Sidoti raised shares of Power Integrations from a “neutral” rating to a “buy” rating in a research note on Monday, May 15th. Finally, Drexel Hamilton set a $84.00 price objective on shares of Power Integrations and gave the stock a “buy” rating in a research note on Friday, July 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Power Integrations currently has an average rating of “Buy” and a consensus price target of $78.50.
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. 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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