Mesirow Financial Investment Management Equity Management Acquires New Holdings in Power Integrations, Inc. (POWI)

Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 281,831 shares of the semiconductor company’s stock, valued at approximately $20,628,000. Power Integrations comprises 1.4% of Mesirow Financial Investment Management Equity Management’s investment portfolio, making the stock its 22nd largest holding. Mesirow Financial Investment Management Equity Management owned approximately 0.95% of Power Integrations at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of POWI. Huntington National Bank lifted its holdings in shares of Power Integrations by 22.8% during the 2nd quarter. Huntington National Bank now owns 1,504 shares of the semiconductor company’s stock valued at $110,000 after purchasing an additional 279 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Power Integrations by 14.5% during the 2nd quarter. Advisor Group Inc. now owns 1,827 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 231 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Power Integrations by 22.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,210 shares of the semiconductor company’s stock valued at $145,000 after purchasing an additional 409 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of Power Integrations by 71.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,397 shares of the semiconductor company’s stock valued at $175,000 after purchasing an additional 997 shares during the last quarter. Finally, Turner Investments LLC purchased a new stake in shares of Power Integrations during the 2nd quarter valued at $182,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

A number of brokerages recently issued reports on POWI. Stifel Nicolaus restated a “buy” rating and issued a $85.00 target price on shares of Power Integrations in a research note on Sunday, September 3rd. BidaskClub lowered Power Integrations from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Deutsche Bank AG lowered Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research note on Tuesday, July 25th. Zacks Investment Research upgraded Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Finally, Drexel Hamilton set a $84.00 target price on Power Integrations and gave the stock a “buy” rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Power Integrations currently has a consensus rating of “Buy” and a consensus target price of $83.50.

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In related news, VP David Mh Matthews sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $71.22, for a total value of $71,220.00. Following the completion of the sale, the vice president now directly owns 43,405 shares of the company’s stock, valued at $3,091,304.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Raja Petrakian sold 2,272 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $68.89, for a total transaction of $156,518.08. Following the completion of the sale, the vice president now directly owns 30,815 shares of the company’s stock, valued at $2,122,845.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,593 shares of company stock valued at $250,457. 4.30% of the stock is owned by corporate insiders.

Shares of Power Integrations, Inc. (NASDAQ:POWI) traded up 0.37% during trading on Wednesday, reaching $80.65. The company had a trading volume of 72,646 shares. The firm has a market capitalization of $2.40 billion, a PE ratio of 44.83 and a beta of 1.28. Power Integrations, Inc. has a 1-year low of $61.44 and a 1-year high of $86.60. The firm has a 50-day moving average of $73.67 and a 200 day moving average of $70.76.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Power Integrations had a net margin of 13.69% and a return on equity of 11.95%. The firm had revenue of $111.30 million during the quarter, compared to analysts’ expectations of $111.82 million. During the same period in the previous year, the company earned $0.67 earnings per share. Power Integrations’s quarterly revenue was up 9.5% compared to the same quarter last year. Analysts expect that Power Integrations, Inc. will post $2.82 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be given a $0.14 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.56 dividend on an annualized basis and a yield of 0.70%. Power Integrations’s dividend payout ratio (DPR) is presently 29.02%.

About Power Integrations

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.

Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

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