State Street Corp Boosts Stake in Power Integrations, Inc. (NASDAQ:POWI)

State Street Corp boosted its stake in Power Integrations, Inc. (NASDAQ:POWI) by 1.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,540,328 shares of the semiconductor company’s stock after buying an additional 27,488 shares during the quarter. State Street Corp’s holdings in Power Integrations were worth $162,886,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of POWI. Envestnet Portfolio Solutions Inc. lifted its stake in Power Integrations by 28.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 8,049 shares of the semiconductor company’s stock valued at $565,000 after buying an additional 1,762 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Power Integrations by 12.9% during the 2nd quarter. Raymond James & Associates now owns 22,817 shares of the semiconductor company’s stock worth $1,602,000 after purchasing an additional 2,609 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Power Integrations by 2.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 12,511 shares of the semiconductor company’s stock worth $878,000 after purchasing an additional 248 shares during the period. Fifth Third Bancorp lifted its stake in shares of Power Integrations by 8.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,801 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 135 shares during the period. Finally, Nicholas Company Inc. lifted its stake in shares of Power Integrations by 7.6% during the 2nd quarter. Nicholas Company Inc. now owns 289,911 shares of the semiconductor company’s stock worth $20,349,000 after purchasing an additional 20,486 shares during the period.

Power Integrations Trading Down 1.7 %

Shares of POWI opened at $64.73 on Friday. The firm has a market capitalization of $3.68 billion, a P/E ratio of 98.08, a price-to-earnings-growth ratio of 7.09 and a beta of 1.12. The stock’s fifty day simple moving average is $63.84 and its 200 day simple moving average is $66.49. Power Integrations, Inc. has a twelve month low of $56.63 and a twelve month high of $89.68.

Power Integrations (NASDAQ:POWI) last issued 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 analyst estimates of $114.83 million. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. Sell-side analysts predict that Power Integrations, Inc. will post 0.54 earnings per share for the current year.

Power Integrations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued 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 yield of 1.30%. The ex-dividend date of this dividend is Friday, November 29th. Power Integrations’s dividend payout ratio is currently 127.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on POWI. Benchmark reissued a “buy” rating and set a $78.00 price target on shares of Power Integrations in a research note on Friday, November 8th. Susquehanna reduced their price target on Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a research note on Thursday, November 7th. Finally, StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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 stock was sold at an average price of $64.96, for a total value of $555,343.04. Following the completion of the sale, the vice president now directly owns 86,375 shares in the company, valued at approximately $5,610,920. This represents a 9.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $643,600.00. Following the completion of the sale, the vice president now owns 130,934 shares of the company’s stock, valued at approximately $8,426,912.24. This represents a 7.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,655 shares of company stock worth $1,205,566. Corporate insiders own 1.70% of the company’s stock.

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.