Acadian Asset Management LLC Purchases 19,474 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Acadian Asset Management LLC lifted its position in Power Integrations, Inc. (NASDAQ:POWI) by 30.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,173 shares of the semiconductor company’s stock after purchasing an additional 19,474 shares during the quarter. Acadian Asset Management LLC’s holdings in Power Integrations were worth $4,663,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund increased its stake in Power Integrations by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,859 shares of the semiconductor company’s stock worth $1,401,000 after acquiring an additional 100 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Power Integrations by 4.7% during the second quarter. Ameritas Investment Partners Inc. now owns 2,604 shares of the semiconductor company’s stock worth $308,000 after purchasing an additional 116 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Power Integrations by 9.9% during the second quarter. Mutual of America Capital Management LLC now owns 1,447 shares of the semiconductor company’s stock worth $171,000 after purchasing an additional 130 shares in the last quarter. First Republic Investment Management Inc. increased its position in shares of Power Integrations by 4.6% during the second quarter. First Republic Investment Management Inc. now owns 3,680 shares of the semiconductor company’s stock worth $435,000 after purchasing an additional 162 shares in the last quarter. Finally, FinTrust Capital Advisors LLC increased its position in shares of Power Integrations by 36.5% during the second quarter. FinTrust Capital Advisors LLC now owns 860 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 230 shares in the last quarter. 49.03% of the stock is currently owned by hedge funds and other institutional investors.

Shares of POWI opened at $69.18 on Friday. The business’s 50-day moving average is $61.88 and its two-hundred day moving average is $89.20. The company has a market capitalization of $4.14 billion, a P/E ratio of 20.29 and a beta of 1.02. Power Integrations, Inc. has a fifty-two week low of $38.57 and a fifty-two week high of $71.26.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Thursday, October 29th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The company had revenue of $121.13 million for the quarter, compared to the consensus estimate of $115.18 million. Power Integrations had a return on equity of 9.38% and a net margin of 45.94%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $0.29 EPS. As a group, analysts predict that Power Integrations, Inc. will post 1.02 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, November 30th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Friday, November 27th. Power Integrations’s dividend payout ratio is currently 49.44%.

In other Power Integrations news, CEO Balu Balakrishnan sold 50,000 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $65.26, for a total transaction of $3,263,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP David Mh Matthews sold 3,764 shares of the stock in a transaction dated Thursday, November 19th. The stock was sold at an average price of $68.51, for a total value of $257,871.64. Following the sale, the vice president now directly owns 105,322 shares in the company, valued at $7,215,610.22. The disclosure for this sale can be found here. Insiders have sold a total of 63,590 shares of company stock worth $4,118,401 over the last ninety days. 2.10% of the stock is owned by insiders.

POWI has been the topic of a number of recent analyst reports. Northland Securities raised Power Integrations from an “under perform” rating to a “market perform” rating and set a $65.00 price target on the stock in a research report on Thursday, August 20th. Cowen began coverage on Power Integrations in a research report on Monday, October 12th. They issued an “outperform” rating and a $72.00 target price on the stock. Stifel Nicolaus cut their target price on Power Integrations from $138.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, August 19th. BidaskClub raised Power Integrations from a “hold” rating to a “buy” rating in a research report on Tuesday, November 10th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Power Integrations from $93.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $83.50.

About Power Integrations

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 offers a range of alternating current (AC) 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, LED lighting, and other consumer and industrial applications, as well as LED lighting.

Further Reading: Insider Trading

Want to see what other hedge funds are holding POWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Power Integrations, Inc. (NASDAQ:POWI).

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

Receive News & Ratings for Power Integrations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Power Integrations and related companies with MarketBeat.com's FREE daily email newsletter.