Verition Fund Management LLC Buys 36,228 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Verition Fund Management LLC grew its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 299.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,340 shares of the semiconductor company’s stock after acquiring an additional 36,228 shares during the period. Verition Fund Management LLC owned about 0.09% of Power Integrations worth $3,100,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Copeland Capital Management LLC lifted its stake in shares of Power Integrations by 21.5% during 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 buying an additional 213,392 shares in the last quarter. Ceredex Value Advisors LLC lifted its stake in shares of Power Integrations by 4.8% during the 2nd quarter. Ceredex Value Advisors LLC now owns 756,282 shares of the semiconductor company’s stock valued at $53,083,000 after buying an additional 34,400 shares in the last quarter. Congress Asset Management Co. lifted its stake 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 valued at $39,875,000 after buying an additional 96,609 shares in the last quarter. Millennium Management LLC lifted its stake 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 valued at $41,634,000 after buying an additional 112,595 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in shares of Power Integrations by 2.6% during the 3rd quarter. Stephens Investment Management Group LLC now owns 567,477 shares of the semiconductor company’s stock valued at $36,387,000 after buying an additional 14,306 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on POWI shares. Susquehanna dropped their price target on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their target price 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. StockNews.com upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Northland Capmk upgraded shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Northland Securities upgraded shares of Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Monday, August 12th. Three 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.00.

Insider Activity at Power Integrations

In related news, VP Doug Bailey sold 8,549 shares of the stock in a transaction 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 owns 86,375 shares of the company’s stock, valued at approximately $5,610,920. This trade represents a 9.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Clifford Walker sold 10,000 shares of the stock in a transaction 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 in the company, valued at approximately $8,426,912.24. This represents a 7.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,655 shares of company stock valued at $1,205,566. Insiders own 1.70% of the company’s stock.

Power Integrations Stock Performance

Power Integrations stock opened at $63.89 on Thursday. The firm’s fifty day moving average price is $63.63 and its 200-day moving average price is $67.03. The stock has a market cap of $3.63 billion, a P/E ratio of 96.80, a price-to-earnings-growth ratio of 7.27 and a beta of 1.12. 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 posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $115.84 million for the quarter, compared to analysts’ expectations of $114.83 million. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.35 EPS. On average, analysts predict that Power Integrations, Inc. will post 0.54 earnings per share for the current year.

Power Integrations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 annualized dividend and a dividend yield of 1.31%. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s dividend payout ratio (DPR) is currently 127.27%.

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.