State of New Jersey Common Pension Fund D Raises Stock Holdings in Power Integrations, Inc. (NASDAQ:POWI)

State of New Jersey Common Pension Fund D raised its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 20.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,869 shares of the semiconductor company’s stock after acquiring an additional 5,097 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Power Integrations worth $1,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of POWI. GAMMA Investing LLC raised its holdings in shares of Power Integrations by 69.8% during the 2nd quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. increased its position in shares of Power Integrations by 22.8% during the 2nd quarter. Mather Group LLC. now owns 868 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 161 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Power Integrations during the 2nd quarter valued at approximately $63,000. Quest Partners LLC increased its position in shares of Power Integrations by 23.5% during the 2nd quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 240 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Power Integrations by 16.3% during the 1st quarter. Covestor Ltd now owns 1,581 shares of the semiconductor company’s stock valued at $113,000 after purchasing an additional 222 shares during the last quarter.

Power Integrations Price Performance

Shares of NASDAQ POWI opened at $60.04 on Monday. The stock has a market capitalization of $3.41 billion, a P/E ratio of 90.97, a price-to-earnings-growth ratio of 6.50 and a beta of 1.10. Power Integrations, Inc. has a 1-year low of $56.63 and a 1-year high of $89.68. The business has a fifty day moving average price of $62.41 and a 200 day moving average price of $67.91.

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

Power Integrations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Power Integrations’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 1.40%. Power Integrations’s dividend payout ratio (DPR) is 121.21%.

Analysts Set New Price Targets

Several equities analysts have commented on POWI shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 price objective (down previously from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Northland Capmk upgraded Power Integrations from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. TD Cowen lowered their target price on Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Benchmark reiterated a “buy” rating and issued a $78.00 target price on shares of Power Integrations in a report on Friday, November 8th. Finally, Susquehanna lowered their target price on Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, VP Sunil Gupta sold 2,127 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $65.90, for a total value of $140,169.30. Following the completion of the sale, the vice president now directly owns 51,899 shares in the company, valued at approximately $3,420,144.10. This trade represents a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Doug Bailey sold 8,549 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $64.96, for a total value of $555,343.04. Following the completion of the transaction, the vice president now directly owns 86,375 shares in the company, valued at $5,610,920. This represents a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,947 shares of company stock worth $713,190. 1.70% of the stock is owned by insiders.

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.