Van ECK Associates Corp Has $3.01 Million Position in Power Integrations, Inc. $POWI

Van ECK Associates Corp lifted its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 40.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 35,988 shares of the semiconductor company’s stock after purchasing an additional 10,343 shares during the period. Van ECK Associates Corp owned 0.06% of Power Integrations worth $3,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hsbc Holdings PLC increased its position in Power Integrations by 6.7% in the 2nd quarter. Hsbc Holdings PLC now owns 5,213 shares of the semiconductor company’s stock valued at $437,000 after acquiring an additional 329 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Power Integrations by 7.1% during the second quarter. Wellington Management Group LLP now owns 3,595,855 shares of the semiconductor company’s stock valued at $301,189,000 after purchasing an additional 239,702 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Power Integrations in the second quarter valued at approximately $2,781,000. Capstone Investment Advisors LLC acquired a new stake in shares of Power Integrations in the second quarter valued at approximately $202,000. Finally, Corient Private Wealth LP bought a new position in Power Integrations in the 2nd quarter worth approximately $1,074,000.

Analysts Set New Price Targets

A number of brokerages have commented on POWI. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Williams Trading set a $80.00 price target on Power Integrations in a research note on Thursday, August 6th. Wall Street Zen upgraded Power Integrations from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Needham & Company LLC lowered their price objective on Power Integrations from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Stifel Nicolaus cut their target price on shares of Power Integrations from $95.00 to $80.00 and set a “buy” rating on the stock in a research 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.67.

Power Integrations Stock Up 0.5%

Shares of Power Integrations stock opened at $50.54 on Friday. Power Integrations, Inc. has a 12 month low of $30.86 and a 12 month high of $91.18. The business has a fifty day simple moving average of $64.10 and a 200 day simple moving average of $63.54. The stock has a market cap of $2.82 billion, a PE ratio of 112.31 and a beta of 1.54.

Power Integrations (NASDAQ:POWI) last released its earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. Power Integrations had a return on equity of 5.50% and a net margin of 5.58%.The firm had revenue of $118.94 million for the quarter, compared to analyst estimates of $117.44 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts expect that Power Integrations, Inc. will post 0.77 EPS for the current fiscal year.

Power Integrations Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.