Legacy Wealth Asset Management LLC Sells 249 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Legacy Wealth Asset Management LLC trimmed its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,931 shares of the semiconductor company’s stock after selling 249 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Power Integrations were worth $428,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of POWI. State Street Corp lifted its stake in shares of Power Integrations by 1.1% in the third quarter. State Street Corp now owns 2,540,328 shares of the semiconductor company’s stock valued at $162,886,000 after buying an additional 27,488 shares during the period. Wellington Management Group LLP lifted its stake in shares of Power Integrations by 25.6% in the third quarter. Wellington Management Group LLP now owns 2,340,328 shares of the semiconductor company’s stock valued at $150,062,000 after buying an additional 476,986 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in shares of Power Integrations by 4.0% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,111,663 shares of the semiconductor company’s stock valued at $135,400,000 after buying an additional 80,761 shares during the period. Geode Capital Management LLC lifted its stake in shares of Power Integrations by 4.2% in the third quarter. Geode Capital Management LLC now owns 1,575,437 shares of the semiconductor company’s stock valued at $101,033,000 after buying an additional 63,150 shares during the period. Finally, Copeland Capital Management LLC lifted its stake in shares of Power Integrations by 21.5% in the third quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company’s stock valued at $77,401,000 after buying an additional 213,392 shares during the period.

Power Integrations Stock Up 2.2 %

NASDAQ:POWI opened at $62.22 on Friday. Power Integrations, Inc. has a 12-month low of $56.63 and a 12-month high of $85.00. The firm has a market capitalization of $3.54 billion, a PE ratio of 94.27, a price-to-earnings-growth ratio of 3.91 and a beta of 1.12. The firm has a 50-day moving average price of $63.12 and a 200 day moving average price of $64.54.

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

Power Integrations Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a dividend of $0.21 per share. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, November 29th. This represents a $0.84 annualized dividend and a dividend yield of 1.35%. Power Integrations’s dividend payout ratio (DPR) is presently 127.27%.

Analysts Set New Price Targets

POWI has been the subject of several research reports. StockNews.com upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Benchmark reiterated a “buy” rating and issued a $78.00 target price on shares of Power Integrations in a research note on Friday, November 8th. Finally, Susquehanna dropped their price target on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Power Integrations has a consensus rating of “Moderate Buy” and an average target price of $78.00.

Insider Transactions at Power Integrations

In related news, VP Clifford Walker sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $64.36, for a total value of $643,600.00. Following the completion of the sale, the vice president now owns 130,934 shares of the company’s stock, valued at $8,426,912.24. This trade represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Doug Bailey sold 8,549 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $64.96, for a total transaction of $555,343.04. Following the completion of the sale, the vice president now directly owns 86,375 shares of the company’s stock, valued at approximately $5,610,920. This represents a 9.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,655 shares of company stock valued at $1,205,566. Corporate insiders own 1.70% 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.