Covestor Ltd Trims Stake in Power Integrations, Inc. (NASDAQ:POWI)

Covestor Ltd lessened its position in Power Integrations, Inc. (NASDAQ:POWI) by 12.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,385 shares of the semiconductor company’s stock after selling 196 shares during the quarter. Covestor Ltd’s holdings in Power Integrations were worth $89,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in Power Integrations by 69.8% during the second quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 150 shares during the period. Mather Group LLC. lifted its position in 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 acquiring an additional 161 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Power Integrations during the second quarter worth about $63,000. Quest Partners LLC grew its holdings in Power Integrations by 23.5% in the second quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 240 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of Power Integrations by 8.1% during the second quarter. Fifth Third Bancorp now owns 1,801 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 135 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on POWI. Stifel Nicolaus restated a “buy” rating and issued a $95.00 price target (down previously from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. StockNews.com upgraded Power Integrations from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Susquehanna dropped their price target on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a research note on Thursday, November 7th. Northland Capmk raised shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Benchmark reaffirmed a “buy” rating and issued a $78.00 target price on shares of Power Integrations in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.00.

Insider Activity

In related news, VP Sunil Gupta sold 2,127 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Sunil Gupta sold 2,127 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total transaction of $140,169.30. Following the completion of the sale, the vice president now owns 51,899 shares of the company’s stock, valued at $3,420,144.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Doug Bailey sold 8,549 shares of the firm’s 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 transaction, the vice president now directly owns 86,375 shares in the company, valued at approximately $5,610,920. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,947 shares of company stock valued at $713,190 in the last quarter. 1.70% of the stock is currently owned by insiders.

Power Integrations Stock Performance

POWI opened at $63.33 on Thursday. The company’s 50-day simple moving average is $62.33 and its two-hundred day simple moving average is $67.99. Power Integrations, Inc. has a 52-week low of $56.63 and a 52-week high of $89.68. The stock has a market capitalization of $3.60 billion, a P/E ratio of 95.96, a P/E/G ratio of 6.68 and a beta of 1.10.

Power Integrations (NASDAQ:POWI) last issued 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. The company had revenue of $115.84 million for the quarter, compared to analysts’ expectations of $114.83 million. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.35 earnings per share. Research analysts forecast that Power Integrations, Inc. will post 0.56 EPS for the current fiscal year.

Power Integrations Increases Dividend

The company 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 dividend of $0.21 per share. This is an increase from Power Integrations’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, November 29th. Power Integrations’s payout ratio is currently 121.21%.

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.