Granite Investment Partners LLC Has $16.64 Million Stake in Power Integrations, Inc. $POWI

Granite Investment Partners LLC decreased its position in Power Integrations, Inc. (NASDAQ:POWI) by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 324,926 shares of the semiconductor company’s stock after selling 30,105 shares during the quarter. Power Integrations comprises 1.0% of Granite Investment Partners LLC’s investment portfolio, making the stock its 21st largest holding. Granite Investment Partners LLC owned 0.58% of Power Integrations worth $16,636,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its stake in Power Integrations by 576.3% in the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 536 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Power Integrations during the 4th quarter worth $36,000. UMB Bank n.a. increased its stake in shares of Power Integrations by 61.7% during the 4th quarter. UMB Bank n.a. now owns 1,074 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 410 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Power Integrations during the 4th quarter valued at $48,000. Finally, Osaic Holdings Inc. raised its holdings in shares of Power Integrations by 76.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,721 shares of the semiconductor company’s stock valued at $92,000 after purchasing an additional 744 shares in the last quarter.

Insider Activity at Power Integrations

In other Power Integrations news, Director Balu Balakrishnan sold 124,287 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $86.44, for a total value of $10,743,368.28. Following the sale, the director directly owned 279,516 shares in the company, valued at $24,161,363.04. This trade represents a 30.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Nicholas Brathwaite sold 6,895 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $72.41, for a total transaction of $499,266.95. Following the transaction, the director owned 30,609 shares in the company, valued at approximately $2,216,397.69. The trade was a 18.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 334,772 shares of company stock worth $27,322,535 in the last ninety days. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

POWI has been the subject of a number of recent research reports. Stifel Nicolaus upped their price objective on shares of Power Integrations from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Power Integrations in a research report on Friday, May 8th. Susquehanna increased their price target on Power Integrations from $70.00 to $85.00 and gave the company a “positive” rating in a report on Friday, May 8th. Finally, Needham & Company LLC assumed coverage on shares of Power Integrations in a research report on Wednesday, June 10th. They issued a “buy” rating and a $90.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Power Integrations presently has an average rating of “Moderate Buy” and a consensus target price of $76.20.

Power Integrations Stock Performance

NASDAQ POWI opened at $66.46 on Thursday. The stock has a 50-day simple moving average of $77.04 and a 200 day simple moving average of $57.92. Power Integrations, Inc. has a twelve month low of $30.86 and a twelve month high of $91.18. The stock has a market capitalization of $3.70 billion, a PE ratio of 221.54, a P/E/G ratio of 2.91 and a beta of 1.57.

Power Integrations (NASDAQ:POWI) last released its earnings results on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Power Integrations had a return on equity of 5.34% and a net margin of 3.72%.The firm had revenue of $108.31 million for the quarter, compared to analyst estimates of $106.75 million. During the same quarter last year, the firm posted $0.31 EPS. The company’s revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts forecast that Power Integrations, Inc. will post 0.89 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, May 29th. Power Integrations’s dividend payout ratio is presently 286.67%.

About Power Integrations

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.