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

State Street Corp grew its holdings 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 fund owned 2,540,328 shares of the semiconductor company’s stock after acquiring an additional 27,488 shares during the quarter. State Street Corp owned about 4.47% of Power Integrations worth $162,886,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in POWI. Copeland Capital Management LLC boosted its position in shares of 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 period. Ceredex Value Advisors LLC boosted its position in shares of Power Integrations by 4.8% in the 2nd quarter. Ceredex Value Advisors LLC now owns 756,282 shares of the semiconductor company’s stock valued at $53,083,000 after purchasing an additional 34,400 shares during the period. Congress Asset Management Co. boosted its position in shares of Power Integrations by 18.4% in the 3rd quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company’s stock valued at $39,875,000 after purchasing an additional 96,609 shares during the period. Millennium Management LLC boosted its position in shares of Power Integrations by 23.4% in the 2nd quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock valued at $41,634,000 after purchasing an additional 112,595 shares during the period. Finally, Stephens Investment Management Group LLC boosted its position in shares of Power Integrations by 2.6% in 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 purchasing an additional 14,306 shares during the period.

Insiders Place Their Bets

In related news, VP Clifford Walker sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $64.36, for a total value of $643,600.00. Following the sale, the vice president now owns 130,934 shares in the company, valued at $8,426,912.24. This represents a 7.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Doug Bailey sold 8,549 shares of the company’s stock in a transaction that occurred 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 owns 86,375 shares in the company, valued at approximately $5,610,920. This represents a 9.01 % 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 worth $1,205,566. Company insiders own 1.70% of the company’s stock.

Power Integrations Trading Down 1.7 %

NASDAQ POWI opened at $64.73 on Friday. The business’s 50 day moving average is $63.84 and its two-hundred day moving average is $66.49. Power Integrations, Inc. has a 12-month low of $56.63 and a 12-month high of $89.68. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 98.08, a PEG ratio of 7.09 and a beta of 1.12.

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

Power Integrations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.21 per share. This is a boost from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 annualized dividend and a yield of 1.30%. Power Integrations’s payout ratio is presently 127.27%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Benchmark reissued a “buy” rating and issued a $78.00 target price on shares of Power Integrations in a research report on Friday, November 8th. StockNews.com upgraded Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Susquehanna lowered their price objective on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Power Integrations currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

About Power Integrations

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.