Covestor Ltd Boosts Stock Position in Power Integrations, Inc. (NASDAQ:POWI)

Covestor Ltd raised its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 16.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,581 shares of the semiconductor company’s stock after acquiring an additional 222 shares during the quarter. Covestor Ltd’s holdings in Power Integrations were worth $113,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of Power Integrations during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. raised its stake in shares of Power Integrations by 369.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 408 shares of the semiconductor company’s stock worth $33,000 after buying an additional 321 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Power Integrations during the 1st quarter worth approximately $51,000. Fidelis Capital Partners LLC purchased a new position in Power Integrations in the 1st quarter valued at approximately $55,000. Finally, SageView Advisory Group LLC purchased a new position in Power Integrations in the 1st quarter valued at approximately $133,000.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, VP Radu Barsan sold 1,837 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $76.56, for a total transaction of $140,640.72. Following the sale, the vice president now owns 40,945 shares in the company, valued at approximately $3,134,749.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Sandeep Nayyar sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the sale, the chief financial officer now owns 85,198 shares in the company, valued at $6,688,043. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Radu Barsan sold 1,837 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $76.56, for a total value of $140,640.72. Following the sale, the vice president now owns 40,945 shares in the company, valued at approximately $3,134,749.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,100 shares of company stock worth $2,481,667. 1.70% of the stock is owned by insiders.

Power Integrations Stock Down 0.3 %

NASDAQ POWI traded down $0.23 during mid-day trading on Tuesday, hitting $74.70. The stock had a trading volume of 121,754 shares, compared to its average volume of 391,752. Power Integrations, Inc. has a 52-week low of $62.13 and a 52-week high of $97.37. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 81.45, a P/E/G ratio of 4.01 and a beta of 1.11. The company has a 50 day simple moving average of $74.16 and a 200 day simple moving average of $73.11.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Tuesday, May 7th. The semiconductor company reported $0.08 EPS for the quarter. The firm had revenue of $91.69 million for the quarter, compared to analysts’ expectations of $89.98 million. Power Integrations had a return on equity of 6.13% and a net margin of 12.28%. As a group, equities analysts anticipate that Power Integrations, Inc. will post 0.73 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, May 31st. Power Integrations’s dividend payout ratio (DPR) is presently 86.96%.

Wall Street Analysts Forecast Growth

Separately, Benchmark reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Power Integrations in a research note on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Power Integrations has an average rating of “Moderate Buy” and a consensus target price of $87.40.

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.