Edgestream Partners L.P. Invests $3.39 Million in Power Integrations, Inc. (NASDAQ:POWI)

Edgestream Partners L.P. acquired a new stake in Power Integrations, Inc. (NASDAQ:POWI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 52,857 shares of the semiconductor company’s stock, valued at approximately $3,389,000. Edgestream Partners L.P. owned about 0.09% of Power Integrations as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of POWI. Copeland Capital Management LLC lifted its position in Power Integrations by 21.5% in the 3rd quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company’s stock valued at $77,401,000 after purchasing an additional 213,392 shares during the last quarter. M&G PLC bought a new stake in shares of Power Integrations during the 3rd quarter worth about $9,820,000. D. E. Shaw & Co. Inc. raised its position in shares of Power Integrations by 40.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 457,470 shares of the semiconductor company’s stock worth $32,110,000 after buying an additional 131,735 shares in the last quarter. Millennium Management LLC raised its position in shares of Power Integrations by 23.4% during the 2nd quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock worth $41,634,000 after buying an additional 112,595 shares in the last quarter. Finally, Congress Asset Management Co. raised its position in shares of Power Integrations by 18.4% during the 3rd quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company’s stock worth $39,875,000 after buying an additional 96,609 shares in the last quarter.

Insider Activity at Power Integrations

In related news, VP Clifford Walker sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $64.36, for a total transaction of $643,600.00. Following the transaction, the vice president now directly owns 130,934 shares of the company’s stock, valued at approximately $8,426,912.24. The trade was a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Doug Bailey sold 8,549 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $64.96, for a total transaction of $555,343.04. Following the transaction, the vice president now directly owns 86,375 shares in the company, valued at $5,610,920. The trade was a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,655 shares of company stock valued at $1,205,566. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

POWI has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. TD Cowen lowered their price objective on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 price objective (down previously from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Power Integrations in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Power Integrations Price Performance

Power Integrations stock opened at $65.51 on Monday. The firm’s 50 day simple moving average is $63.34 and its 200-day simple moving average is $67.28. The company has a market cap of $3.73 billion, a P/E ratio of 99.26, a price-to-earnings-growth ratio of 7.09 and a beta of 1.10. Power Integrations, Inc. has a fifty-two week low of $56.63 and a fifty-two week high of $89.68.

Power Integrations (NASDAQ:POWI) last released its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The business had revenue of $115.84 million for the quarter, compared to the consensus estimate of $114.83 million. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. On average, analysts expect that Power Integrations, Inc. will post 0.54 EPS for the current fiscal year.

Power Integrations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.21 dividend. This is an increase from Power Integrations’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Friday, November 29th. Power Integrations’s dividend payout ratio (DPR) is 121.21%.

Power Integrations Profile

Power Integrations, Inc designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company provides a range of alternating current to direct current power conversion products that address power supply ranging from less than one watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, LED lighting, and various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.