Power Integrations, Inc. $POWI Shares Sold by Raymond James Financial Inc.

Raymond James Financial Inc. lessened its stake in Power Integrations, Inc. (NASDAQ:POWI) by 33.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 80,093 shares of the semiconductor company’s stock after selling 40,969 shares during the period. Raymond James Financial Inc.’s holdings in Power Integrations were worth $4,045,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in Power Integrations by 257.8% in the 1st quarter. Allworth Financial LP now owns 594 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 428 shares during the last quarter. Bayforest Capital Ltd increased its holdings in Power Integrations by 54.3% in the 1st quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 222 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Power Integrations by 841.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 781 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 698 shares during the last quarter. Global X Japan Co. Ltd. acquired a new stake in Power Integrations in the 1st quarter valued at approximately $42,000. Finally, Larson Financial Group LLC acquired a new stake in Power Integrations in the 1st quarter valued at approximately $45,000.

Power Integrations Stock Performance

POWI stock opened at $44.91 on Friday. The company’s 50 day moving average price is $50.36 and its 200 day moving average price is $52.30. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 77.43, a PEG ratio of 2.93 and a beta of 1.38. Power Integrations, Inc. has a fifty-two week low of $39.53 and a fifty-two week high of $69.53.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $115.85 million during the quarter, compared to the consensus estimate of $115.02 million. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. Equities analysts forecast that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.9%. Power Integrations’s payout ratio is presently 144.83%.

Wall Street Analysts Forecast Growth

POWI has been the subject of several research reports. Wall Street Zen downgraded shares of Power Integrations from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Benchmark dropped their target price on shares of Power Integrations from $70.00 to $55.00 and set a “buy” rating for the company in a report on Monday, August 11th. Stifel Nicolaus lifted their target price on shares of Power Integrations from $70.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Finally, Susquehanna dropped their price target on shares of Power Integrations from $70.00 to $55.00 and set a “positive” rating for the company in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $61.67.

Insiders Place Their Bets

In related news, VP Doug Bailey sold 16,989 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $46.41, for a total transaction of $788,459.49. Following the completion of the transaction, the vice president owned 50,798 shares in the company, valued at approximately $2,357,535.18. The trade was a 25.06% 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 Gagan Jain sold 2,036 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $46.05, for a total transaction of $93,757.80. Following the transaction, the vice president owned 18,812 shares of the company’s stock, valued at approximately $866,292.60. The trade was a 9.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,014 shares of company stock valued at $1,678,322. Insiders own 1.40% of the company’s stock.

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.