Teachers Retirement System of The State of Kentucky Has $750,000 Position in Power Integrations, Inc. (POWI)

Teachers Retirement System of The State of Kentucky continued to hold its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,400 shares of the semiconductor company’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in Power Integrations were worth $750,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in POWI. Credit Suisse AG boosted its stake in shares of Power Integrations by 3.6% in the first quarter. Credit Suisse AG now owns 33,281 shares of the semiconductor company’s stock valued at $2,188,000 after buying an additional 1,142 shares during the last quarter. State Street Corp boosted its stake in shares of Power Integrations by 7.7% in the first quarter. State Street Corp now owns 790,601 shares of the semiconductor company’s stock valued at $51,987,000 after buying an additional 56,748 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Power Integrations by 9.3% in the first quarter. Bank of America Corp DE now owns 314,010 shares of the semiconductor company’s stock valued at $20,646,000 after buying an additional 26,657 shares during the last quarter. PEAK6 Investments L.P. purchased a new stake in shares of Power Integrations during the first quarter valued at about $212,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Power Integrations during the first quarter valued at about $1,767,000. Hedge funds and other institutional investors own 95.41% of the company’s stock.

Shares of Power Integrations, Inc. (POWI) traded up 2.38% during trading on Friday, reaching $68.70. The company had a trading volume of 376,946 shares. Power Integrations, Inc. has a 12-month low of $56.03 and a 12-month high of $82.80. The firm has a 50-day moving average of $73.76 and a 200-day moving average of $67.83. The company has a market cap of $2.04 billion, a P/E ratio of 38.19 and a beta of 1.23.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, July 27th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Power Integrations had a net margin of 13.37% and a return on equity of 12.08%. The company had revenue of $107.56 million during the quarter, compared to analysts’ expectations of $107.85 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. Power Integrations’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Power Integrations, Inc. will post $2.77 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, August 29th. Power Integrations’s dividend payout ratio (DPR) is presently 29.95%.

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Several brokerages have issued reports on POWI. BidaskClub cut Power Integrations from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Stifel Nicolaus reiterated a “buy” rating and set a $85.00 price target (up from $82.00) on shares of Power Integrations in a research report on Sunday, July 30th. Drexel Hamilton set a $84.00 price target on Power Integrations and gave the stock a “buy” rating in a research report on Friday, July 28th. Deutsche Bank AG cut Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research report on Tuesday, July 25th. Finally, Zacks Investment Research cut Power Integrations from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $78.50.

In related news, VP David Mh Matthews sold 776 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $67.04, for a total value of $52,023.04. Following the completion of the transaction, the vice president now owns 44,405 shares in the company, valued at approximately $2,976,911.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas Brathwaite sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $73.00, for a total transaction of $146,000.00. Following the completion of the transaction, the director now owns 24,710 shares of the company’s stock, valued at approximately $1,803,830. The disclosure for this sale can be found here. Insiders sold a total of 131,981 shares of company stock valued at $10,093,383 in the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

About Power Integrations

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. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.

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

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