Principal Financial Group Inc. Buys 440 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Principal Financial Group Inc. raised its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 0.3% during the first quarter, HoldingsChannel reports. The firm owned 132,718 shares of the semiconductor company’s stock after purchasing an additional 440 shares during the period. Principal Financial Group Inc.’s holdings in Power Integrations were worth $6,702,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of Power Integrations by 36.5% during the fourth quarter. Victory Capital Management Inc. now owns 17,185 shares of the semiconductor company’s stock worth $1,060,000 after purchasing an additional 4,596 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Power Integrations during the fourth quarter worth approximately $2,120,000. Raymond James Financial Inc. purchased a new stake in shares of Power Integrations during the fourth quarter worth approximately $7,470,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Power Integrations by 3.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,277 shares of the semiconductor company’s stock valued at $881,000 after buying an additional 416 shares in the last quarter. Finally, Swiss National Bank grew its holdings in Power Integrations by 0.8% in the 4th quarter. Swiss National Bank now owns 111,800 shares of the semiconductor company’s stock valued at $6,898,000 after buying an additional 900 shares in the last quarter.

Power Integrations Stock Down 4.6%

POWI opened at $54.05 on Wednesday. The firm has a market cap of $3.04 billion, a PE ratio of 83.16, a P/E/G ratio of 2.32 and a beta of 1.31. The business has a fifty day simple moving average of $54.70 and a 200-day simple moving average of $55.67. Power Integrations, Inc. has a fifty-two week low of $40.78 and a fifty-two week high of $79.13.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Monday, May 12th. The semiconductor company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. Power Integrations had a return on equity of 5.12% and a net margin of 8.56%. The business had revenue of $105.53 million during the quarter, compared to analysts’ expectations of $105.44 million. During the same quarter last year, the firm posted $0.18 earnings per share. Power Integrations’s revenue was up 15.1% compared to the same quarter last year. On average, equities research analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Friday, May 30th. Power Integrations’s payout ratio is 129.23%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on POWI. Stifel Nicolaus raised their target price on Power Integrations from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Wall Street Zen upgraded Power Integrations from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.67.

Power Integrations Company 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.