Power Integrations Inc (NASDAQ:POWI) Shares Purchased by State of Tennessee Treasury Department

State of Tennessee Treasury Department lifted its holdings in Power Integrations Inc (NASDAQ:POWI) by 56.9% in the third quarter, Holdings Channel reports. The firm owned 18,275 shares of the semiconductor company’s stock after buying an additional 6,624 shares during the period. State of Tennessee Treasury Department’s holdings in Power Integrations were worth $1,652,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Candriam Luxembourg S.C.A. boosted its position in shares of Power Integrations by 103.9% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 8,171 shares of the semiconductor company’s stock worth $652,000 after purchasing an additional 4,164 shares in the last quarter. BlackRock Inc. lifted its position in Power Integrations by 0.7% during the 2nd quarter. BlackRock Inc. now owns 4,230,257 shares of the semiconductor company’s stock worth $339,182,000 after acquiring an additional 30,956 shares during the period. Atria Investments LLC acquired a new stake in Power Integrations during the 2nd quarter worth about $9,640,000. Nuveen Asset Management LLC lifted its position in Power Integrations by 1,806.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 126,172 shares of the semiconductor company’s stock worth $10,116,000 after acquiring an additional 119,553 shares during the period. Finally, Eqis Capital Management Inc. lifted its position in Power Integrations by 2.6% during the 2nd quarter. Eqis Capital Management Inc. now owns 5,726 shares of the semiconductor company’s stock worth $459,000 after acquiring an additional 144 shares during the period. 97.02% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ POWI traded down $0.49 during trading on Monday, reaching $93.61. 423 shares of the company traded hands, compared to its average volume of 154,298. The firm’s fifty day simple moving average is $91.25 and its 200 day simple moving average is $82.70. The stock has a market cap of $2.78 billion, a P/E ratio of 43.80 and a beta of 1.25. Power Integrations Inc has a 12-month low of $55.24 and a 12-month high of $102.38.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Thursday, October 24th. The semiconductor company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. The business had revenue of $114.16 million during the quarter, compared to analyst estimates of $114.20 million. Power Integrations had a return on equity of 9.64% and a net margin of 14.50%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. As a group, equities analysts expect that Power Integrations Inc will post 1.86 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.81%. This is a positive change from Power Integrations’s previous quarterly dividend of $0.17. Power Integrations’s dividend payout ratio (DPR) is presently 31.78%.

In related news, VP Ben Sutherland sold 364 shares of Power Integrations stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $83.77, for a total value of $30,492.28. Following the completion of the transaction, the vice president now owns 41,371 shares in the company, valued at approximately $3,465,648.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Balu Balakrishnan sold 27,510 shares of Power Integrations stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $91.82, for a total value of $2,525,968.20. The disclosure for this sale can be found here. Insiders have sold a total of 103,254 shares of company stock valued at $9,495,564 in the last quarter. Company insiders own 4.10% of the company’s stock.

A number of analysts have commented on the company. Stifel Nicolaus set a $104.00 price target on Power Integrations and gave the stock a “buy” rating in a research report on Friday, October 25th. Loop Capital raised Power Integrations from a “hold” rating to a “buy” rating and lifted their price target for the stock from $83.00 to $102.00 in a research report on Friday, October 25th. ValuEngine cut Power Integrations from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised Power Integrations from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Saturday, October 12th. Finally, Deutsche Bank set a $80.00 price target on Power Integrations and gave the stock a “hold” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $91.20.

Power Integrations Company Profile

Power Integrations, Inc designs, develops, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 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, and other consumer and industrial applications, as well as light-emitting diode lighting.

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Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

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