Amalgamated Bank lifted its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 9.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,990 shares of the semiconductor company’s stock after purchasing an additional 346 shares during the period. Amalgamated Bank’s holdings in Power Integrations were worth $291,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Huntington National Bank increased its position in Power Integrations by 22.8% in the 2nd quarter. Huntington National Bank now owns 1,504 shares of the semiconductor company’s stock valued at $110,000 after acquiring an additional 279 shares during the period. Victory Capital Management Inc. increased its position in Power Integrations by 22.7% in the 1st quarter. Victory Capital Management Inc. now owns 2,210 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 409 shares during the period. Ameritas Investment Partners Inc. acquired a new position in Power Integrations in the 1st quarter valued at about $156,000. Riverhead Capital Management LLC increased its position in Power Integrations by 71.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,397 shares of the semiconductor company’s stock valued at $175,000 after acquiring an additional 997 shares during the period. Finally, Turner Investments LLC acquired a new position in Power Integrations in the 2nd quarter valued at about $182,000. Institutional investors and hedge funds own 95.38% of the company’s stock.
Shares of Power Integrations, Inc. (POWI) opened at 72.65 on Thursday. Power Integrations, Inc. has a one year low of $60.67 and a one year high of $82.80. The firm has a 50-day moving average price of $72.36 and a 200-day moving average price of $69.64. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 40.38 and a beta of 1.28.
Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $107.56 million for the quarter, compared to analyst estimates of $107.85 million. Power Integrations had a net margin of 13.37% and a return on equity of 12.08%. Power Integrations’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 earnings per share. Analysts anticipate that Power Integrations, Inc. will post $2.77 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Thursday, August 31st were paid a dividend of $0.14 per share. The ex-dividend date was Tuesday, August 29th. This represents a $0.56 annualized dividend and a yield of 0.77%. Power Integrations’s dividend payout ratio (DPR) is 29.95%.
POWI has been the topic of several recent research reports. BidaskClub cut Power Integrations from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 16th. Stifel Nicolaus restated a “buy” rating and issued a $82.00 price target (up previously from $75.00) on shares of Power Integrations in a research report on Friday, June 30th. Deutsche Bank AG cut Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research report on Tuesday, July 25th. Drexel Hamilton set a $84.00 price target on Power Integrations and gave the company a “buy” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research upgraded Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Power Integrations presently has a consensus rating of “Buy” and an average price target of $81.33.
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In other Power Integrations news, Director Nicholas Brathwaite sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $80.00, for a total value of $320,000.00. Following the sale, the director now owns 28,109 shares in the company, valued at $2,248,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Balu Balakrishnan sold 65,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $78.06, for a total transaction of $5,073,900.00. Following the completion of the sale, the insider now owns 319,576 shares in the company, valued at approximately $24,946,102.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,593 shares of company stock worth $5,644,357. 4.30% of the stock is owned by company insiders.
Power Integrations Company Profile
Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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