Truvestments Capital LLC Lowers Position in Power Integrations, Inc. (NASDAQ:POWI)

Truvestments Capital LLC cut its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 46.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 2,675 shares of the semiconductor company’s stock after selling 2,275 shares during the period. Truvestments Capital LLC’s holdings in Power Integrations were worth $191,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in shares of Power Integrations in the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. grew its position in Power Integrations by 369.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 408 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 321 shares in the last quarter. Mather Group LLC. purchased a new stake in Power Integrations in the 1st quarter valued at about $51,000. Fidelis Capital Partners LLC bought a new position in shares of Power Integrations during the 1st quarter worth approximately $55,000. Finally, Covestor Ltd boosted its stake in shares of Power Integrations by 16.3% in the 1st quarter. Covestor Ltd now owns 1,581 shares of the semiconductor company’s stock worth $113,000 after buying an additional 222 shares during the last quarter.

Insider Activity

In related news, CFO Sandeep Nayyar sold 4,839 shares of Power Integrations stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $77.25, for a total value of $373,812.75. Following the completion of the sale, the chief financial officer now owns 90,198 shares of the company’s stock, valued at approximately $6,967,795.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Power Integrations news, CFO Sandeep Nayyar sold 4,839 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $77.25, for a total transaction of $373,812.75. Following the sale, the chief financial officer now directly owns 90,198 shares of the company’s stock, valued at $6,967,795.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Yang Chiah Yee sold 1,412 shares of Power Integrations stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $73.75, for a total transaction of $104,135.00. Following the completion of the transaction, the vice president now owns 45,436 shares of the company’s stock, valued at approximately $3,350,905. The disclosure for this sale can be found here. Insiders have sold 32,100 shares of company stock valued at $2,481,667 in the last 90 days. Insiders own 1.70% of the company’s stock.

Power Integrations Stock Performance

POWI stock traded up $1.74 during mid-day trading on Friday, hitting $72.96. The company had a trading volume of 315,083 shares, compared to its average volume of 364,082. The firm has a market cap of $4.14 billion, a PE ratio of 79.31, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11. Power Integrations, Inc. has a 12 month low of $62.13 and a 12 month high of $97.37. The stock’s fifty day moving average price is $73.78 and its two-hundred day moving average price is $73.05.

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

Power Integrations Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were paid a $0.20 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.10%. Power Integrations’s payout ratio is presently 86.96%.

Analyst Ratings Changes

Separately, Benchmark reaffirmed a “buy” rating and set a $90.00 price target on shares of Power Integrations in a research report on Friday, June 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus 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.