Wasatch Advisors LP Sells 68,041 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Wasatch Advisors LP trimmed its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 27.5% in the third quarter, Holdings Channel reports. The fund owned 179,040 shares of the semiconductor company’s stock after selling 68,041 shares during the quarter. Wasatch Advisors LP’s holdings in Power Integrations were worth $11,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Copeland Capital Management LLC lifted its stake in shares of Power Integrations by 21.5% in the third quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company’s stock valued at $77,401,000 after buying an additional 213,392 shares during the period. M&G PLC bought a new stake in shares of Power Integrations in the third quarter valued at about $9,820,000. D. E. Shaw & Co. Inc. lifted its stake in shares of Power Integrations by 40.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 457,470 shares of the semiconductor company’s stock valued at $32,110,000 after buying an additional 131,735 shares during the period. Millennium Management LLC lifted its stake in shares of Power Integrations by 23.4% in the second quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock valued at $41,634,000 after buying an additional 112,595 shares during the period. Finally, Congress Asset Management Co. lifted its stake in shares of Power Integrations by 18.4% in the third quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company’s stock valued at $39,875,000 after buying an additional 96,609 shares during the period.

Insider Transactions at Power Integrations

In other news, VP Doug Bailey sold 8,549 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $64.96, for a total transaction of $555,343.04. Following the sale, the vice president now directly owns 86,375 shares of the company’s stock, valued at $5,610,920. This represents a 9.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Clifford Walker sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $64.36, for a total transaction of $643,600.00. Following the sale, the vice president now directly owns 130,934 shares in the company, valued at $8,426,912.24. This trade represents a 7.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,655 shares of company stock valued at $1,205,566. Corporate insiders own 1.70% of the company’s stock.

Power Integrations Stock Up 1.5 %

NASDAQ:POWI opened at $65.51 on Friday. Power Integrations, Inc. has a 12-month low of $56.63 and a 12-month high of $89.68. The firm has a market capitalization of $3.73 billion, a PE ratio of 99.26, a price-to-earnings-growth ratio of 7.09 and a beta of 1.10. The firm has a 50-day moving average price of $63.34 and a 200 day moving average price of $67.35.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Wednesday, November 6th. 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 $115.84 million during the quarter, compared to analyst estimates of $114.83 million. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. The company’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the business posted $0.35 earnings per share. On average, research analysts expect that Power Integrations, Inc. will post 0.54 EPS for the current year.

Power Integrations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.21 per share. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 29th. This represents a $0.84 annualized dividend and a dividend yield of 1.28%. Power Integrations’s dividend payout ratio (DPR) is presently 121.21%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 target price (down previously from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. TD Cowen reduced their target price on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Northland Capmk upgraded shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Susquehanna dropped their price target on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Power Integrations currently has an average rating of “Moderate Buy” and an average price target of $78.00.

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 provides a range of alternating current to direct current power conversion products that address power supply ranging from less than one 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 various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.