Granite Investment Partners LLC Acquires 39,120 Shares of Power Integrations, Inc. $POWI

Granite Investment Partners LLC lifted its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 17.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 259,573 shares of the semiconductor company’s stock after purchasing an additional 39,120 shares during the quarter. Granite Investment Partners LLC owned 0.47% of Power Integrations worth $10,437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hantz Financial Services Inc. grew its position in Power Integrations by 475.9% during the second quarter. Hantz Financial Services Inc. now owns 478 shares of the semiconductor company’s stock worth $27,000 after buying an additional 395 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Power Integrations by 576.3% in the 1st 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 in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Power Integrations by 125.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 585 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 326 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of Power Integrations during the 2nd quarter worth $40,000. Finally, Huntington National Bank grew its holdings in shares of Power Integrations by 27.4% during the 2nd quarter. Huntington National Bank now owns 1,312 shares of the semiconductor company’s stock worth $73,000 after purchasing an additional 282 shares in the last quarter.

Power Integrations Trading Down 0.4%

POWI opened at $45.51 on Monday. The company has a market cap of $2.53 billion, a P/E ratio of 116.70, a PEG ratio of 3.46 and a beta of 1.37. The company’s 50 day moving average is $42.16 and its 200-day moving average is $41.31. Power Integrations, Inc. has a 1-year low of $30.86 and a 1-year high of $68.20.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. Power Integrations had a net margin of 4.98% and a return on equity of 5.15%. The business had revenue of $103.20 million during the quarter, compared to analysts’ expectations of $103.02 million. During the same period in the prior year, the company earned $0.30 EPS. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities analysts forecast that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, February 27th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.21. Power Integrations’s dividend payout ratio is currently 215.38%.

Insider Transactions at Power Integrations

In related news, VP Sunil Gupta sold 1,272 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $45.97, for a total transaction of $58,473.84. Following the sale, the vice president owned 96,933 shares in the company, valued at $4,456,010.01. The trade was a 1.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Gagan Jain sold 995 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $46.50, for a total value of $46,267.50. Following the completion of the transaction, the vice president owned 32,549 shares of the company’s stock, valued at $1,513,528.50. This represents a 2.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 38,037 shares of company stock worth $1,752,788. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on POWI shares. Susquehanna boosted their price target on Power Integrations from $50.00 to $53.00 and gave the company a “positive” rating in a research note on Thursday, January 22nd. Benchmark restated a “buy” rating and issued a $55.00 target price on shares of Power Integrations in a research report on Friday, February 6th. Zacks Research downgraded shares of Power Integrations from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 28th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Power Integrations in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.00.

Power Integrations Company Profile

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.