Russell Investments Group Ltd. Increases Holdings in Power Integrations Inc (POWI)

Russell Investments Group Ltd. raised its position in Power Integrations Inc (NASDAQ:POWI) by 46.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 124,797 shares of the semiconductor company’s stock after acquiring an additional 39,759 shares during the period. Russell Investments Group Ltd. owned approximately 0.42% of Power Integrations worth $9,135,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in POWI. Artemis Investment Management LLP grew its stake in Power Integrations by 159.9% in the third quarter. Artemis Investment Management LLP now owns 545,657 shares of the semiconductor company’s stock valued at $39,928,000 after acquiring an additional 335,703 shares during the period. Mesirow Financial Investment Management Equity Management acquired a new stake in Power Integrations in the third quarter valued at approximately $20,628,000. Rice Hall James & Associates LLC acquired a new stake in Power Integrations in the third quarter valued at approximately $17,162,000. Koch Industries Inc. purchased a new position in shares of Power Integrations during the second quarter valued at approximately $209,000. Finally, Pax World Management LLC purchased a new position in shares of Power Integrations during the third quarter valued at approximately $10,698,000. 97.51% of the stock is owned by hedge funds and other institutional investors.

Power Integrations Inc (NASDAQ POWI) opened at $74.70 on Thursday. The stock has a market capitalization of $2,237.68, a P/E ratio of 35.86 and a beta of 1.26. Power Integrations Inc has a 1 year low of $61.44 and a 1 year high of $86.60.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.05. The company had revenue of $111.30 million for the quarter, compared to analysts’ expectations of $111.82 million. Power Integrations had a return on equity of 11.95% and a net margin of 13.69%. Power Integrations’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 earnings per share. analysts predict that Power Integrations Inc will post 2.06 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders 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 annualized dividend and a yield of 0.75%. Power Integrations’s dividend payout ratio is currently 29.02%.

In other Power Integrations news, VP Ben Sutherland sold 500 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $79.58, for a total value of $39,790.00. Following the transaction, the vice president now owns 40,965 shares of the company’s stock, valued at $3,259,994.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Balu Balakrishnan sold 51,350 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $80.71, for a total value of $4,144,458.50. Following the completion of the transaction, the chief executive officer now directly owns 268,226 shares in the company, valued at approximately $21,648,520.46. The disclosure for this sale can be found here. In the last three months, insiders sold 63,089 shares of company stock worth $5,077,253. Insiders own 4.30% of the company’s stock.

Several research analysts recently issued reports on the company. BidaskClub cut Power Integrations from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research raised Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 target price on shares of Power Integrations in a research report on Wednesday, October 4th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $84.00 target price on shares of Power Integrations in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $83.50.

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Power Integrations 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.

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

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