Cannell & Spears LLC Grows Stock Holdings in Power Integrations, Inc. $POWI

Cannell & Spears LLC grew its position in Power Integrations, Inc. (NASDAQ:POWI) by 98.8% during the first quarter, Holdings Channel reports. The institutional investor owned 63,278 shares of the semiconductor company’s stock after acquiring an additional 31,452 shares during the quarter. Cannell & Spears LLC’s holdings in Power Integrations were worth $3,030,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Baird Financial Group Inc. boosted its stake in Power Integrations by 5.4% in the first quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company’s stock valued at $255,000 after acquiring an additional 261 shares in the last quarter. Royal Bank of Canada increased its position in shares of Power Integrations by 5.0% during the first quarter. Royal Bank of Canada now owns 75,792 shares of the semiconductor company’s stock worth $3,827,000 after purchasing an additional 3,622 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Power Integrations by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,680 shares of the semiconductor company’s stock worth $1,701,000 after purchasing an additional 1,461 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Power Integrations by 14.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 572,360 shares of the semiconductor company’s stock valued at $28,904,000 after purchasing an additional 74,107 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Power Integrations by 15.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,754 shares of the semiconductor company’s stock worth $8,825,000 after purchasing an additional 23,389 shares in the last quarter.

Insider Activity

In other news, Director Nicholas Brathwaite sold 1,728 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $86.62, for a total transaction of $149,679.36. Following the transaction, the director owned 22,226 shares in the company, valued at $1,925,216.12. This trade represents a 7.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Sunil Gupta sold 6,860 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $83.67, for a total transaction of $573,976.20. Following the completion of the sale, the vice president directly owned 64,379 shares of the company’s stock, valued at approximately $5,386,590.93. The trade was a 9.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 334,772 shares of company stock worth $27,322,535 over the last three months. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

POWI has been the topic of a number of research analyst reports. Benchmark boosted their price target on Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. Stifel Nicolaus lifted their price objective on Power Integrations from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Power Integrations in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Finally, Northland Securities downgraded Power Integrations from an “outperform” rating to a “market perform” rating and set a $46.00 price target for the company. in a report on Monday, April 6th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $76.20.

Power Integrations Stock Down 10.5%

POWI stock opened at $63.46 on Friday. Power Integrations, Inc. has a 52-week low of $30.86 and a 52-week high of $91.18. The firm has a market cap of $3.54 billion, a P/E ratio of 211.54, a PEG ratio of 3.25 and a beta of 1.57. The company’s 50-day simple moving average is $76.57 and its 200-day simple moving average is $60.62.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $108.31 million during the quarter, compared to analyst estimates of $106.75 million. Power Integrations had a return on equity of 5.34% and a net margin of 3.72%.Power Integrations’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. On average, analysts anticipate that Power Integrations, Inc. will post 0.76 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were given a $0.215 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.4%. Power Integrations’s payout ratio is 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.