Ameriprise Financial Inc. Purchases 20,377 Shares of Power Integrations, Inc. (POWI)
Ameriprise Financial Inc. boosted its position in Power Integrations, Inc. (NASDAQ:POWI) by 10.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 214,099 shares of the semiconductor company’s stock after buying an additional 20,377 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.72% of Power Integrations worth $15,608,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in POWI. Huntington National Bank raised its position in Power Integrations by 22.8% in the 2nd quarter. Huntington National Bank now owns 1,504 shares of the semiconductor company’s stock valued at $110,000 after buying an additional 279 shares during the last quarter. Victory Capital Management Inc. raised its position in Power Integrations by 22.7% in the 1st quarter. Victory Capital Management Inc. now owns 2,210 shares of the semiconductor company’s stock valued at $145,000 after buying an additional 409 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Power Integrations in the 1st quarter valued at approximately $156,000. Riverhead Capital Management LLC raised its position in Power Integrations by 71.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,397 shares of the semiconductor company’s stock valued at $175,000 after buying an additional 997 shares during the last quarter. Finally, Turner Investments LLC acquired a new stake in Power Integrations in the 2nd quarter valued at approximately $182,000. 95.38% of the stock is currently owned by institutional investors and hedge funds.
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A number of equities research analysts recently issued reports on POWI shares. BidaskClub raised Power Integrations from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Stifel Nicolaus restated a “buy” rating and issued a $85.00 price target on shares of Power Integrations in a research note on Sunday, September 3rd. Drexel Hamilton set a $84.00 price target on Power Integrations and gave the company a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Finally, Deutsche Bank AG downgraded Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research note on Tuesday, July 25th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Power Integrations has an average rating of “Buy” and an average price target of $81.33.
Power Integrations, Inc. (NASDAQ:POWI) opened at 71.15 on Friday. The firm has a 50-day moving average price of $71.92 and a 200-day moving average price of $69.38. The company has a market capitalization of $2.12 billion, a P/E ratio of 39.55 and a beta of 1.28. Power Integrations, Inc. has a 1-year low of $60.67 and a 1-year high of $82.80.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $107.56 million during the quarter, compared to the consensus estimate of $107.85 million. Power Integrations had a return on equity of 12.08% and a net margin of 13.37%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 earnings per share. On average, analysts forecast that Power Integrations, Inc. will post $2.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, August 31st were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Tuesday, August 29th. Power Integrations’s dividend payout ratio (DPR) is presently 29.95%.
In other news, insider Balu Balakrishnan sold 65,000 shares of the stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $78.06, for a total value of $5,073,900.00. Following the completion of the sale, the insider now directly owns 319,576 shares of the company’s stock, valued at $24,946,102.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David Mh Matthews sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $71.22, for a total value of $71,220.00. Following the completion of the sale, the vice president now directly owns 43,405 shares of the company’s stock, valued at $3,091,304.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,593 shares of company stock valued at $5,644,357. Company insiders own 4.30% of the company’s stock.
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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