Power Integrations, Inc. (POWI) Position Boosted by State of Tennessee Treasury Department
State of Tennessee Treasury Department boosted its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,752 shares of the semiconductor company’s stock after acquiring an additional 975 shares during the quarter. State of Tennessee Treasury Department owned 0.09% of Power Integrations worth $2,023,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Huntington National Bank boosted its holdings in Power Integrations by 22.8% during the 2nd quarter. Huntington National Bank now owns 1,504 shares of the semiconductor company’s stock valued at $110,000 after acquiring an additional 279 shares during the period. Victory Capital Management Inc. boosted its holdings in Power Integrations by 22.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,210 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 409 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Power Integrations during the 1st quarter valued at $156,000. Turner Investments LLC purchased a new position in Power Integrations during the 2nd quarter valued at $182,000. Finally, PEAK6 Investments L.P. purchased a new position in Power Integrations during the 1st quarter valued at $212,000. Institutional investors own 95.36% of the company’s stock.
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Shares of Power Integrations, Inc. (NASDAQ:POWI) opened at 74.25 on Tuesday. Power Integrations, Inc. has a 12 month low of $60.01 and a 12 month high of $82.80. The firm’s 50-day moving average price is $71.18 and its 200-day moving average price is $68.69. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 41.27 and a beta of 1.23.
Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.51 EPS for the quarter, topping the 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 during the quarter, compared to analyst estimates of $107.85 million. During the same period last year, the business posted $0.61 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts expect that Power Integrations, Inc. will post $2.77 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.56 annualized dividend and a dividend yield of 0.75%. Power Integrations’s dividend payout ratio is currently 29.95%.
A number of equities analysts recently issued reports on the company. Deutsche Bank AG cut Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a report on Tuesday, July 25th. BidaskClub upgraded Power Integrations from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Drexel Hamilton set a $84.00 price objective on Power Integrations and gave the company a “buy” rating in a report on Friday, July 28th. Zacks Investment Research cut Power Integrations from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 target price (up from $75.00) on shares of Power Integrations in a research report on Friday, June 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Power Integrations has a consensus rating of “Buy” and a consensus target price of $78.50.
In other news, VP David Mh Matthews sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $71.22, for a total transaction of $71,220.00. Following the completion of the transaction, the vice president now directly owns 43,405 shares in the company, valued at $3,091,304.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Nicholas Brathwaite sold 6,000 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $74.33, for a total value of $445,980.00. Following the transaction, the director now owns 24,710 shares of the company’s stock, valued at $1,836,694.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,593 shares of company stock valued at $10,278,057. 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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