Power Integrations Inc (POWI) Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its holdings in shares of Power Integrations Inc (NASDAQ:POWI) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,049 shares of the semiconductor company’s stock after buying an additional 1,570 shares during the quarter. Rhumbline Advisers owned 0.20% of Power Integrations worth $4,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in POWI. Advisor Group Inc. lifted its position in Power Integrations by 14.5% during the 2nd quarter. Advisor Group Inc. now owns 1,827 shares of the semiconductor company’s stock worth $132,000 after acquiring an additional 231 shares during the period. Riverhead Capital Management LLC lifted its position in Power Integrations by 71.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,397 shares of the semiconductor company’s stock worth $175,000 after acquiring an additional 997 shares during the period. Turner Investments LLC acquired a new stake in Power Integrations during the 2nd quarter worth about $182,000. Ameritas Investment Partners Inc. lifted its position in Power Integrations by 6.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,519 shares of the semiconductor company’s stock worth $184,000 after acquiring an additional 150 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Power Integrations by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,601 shares of the semiconductor company’s stock worth $190,000 after acquiring an additional 391 shares during the period. Hedge funds and other institutional investors own 97.51% of the company’s stock.

Power Integrations Inc (NASDAQ POWI) opened at $75.30 on Tuesday. The stock has a market capitalization of $2,306.02, a PE ratio of 36.95 and a beta of 1.26. Power Integrations Inc has a fifty-two week low of $61.44 and a fifty-two week high of $86.60.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.05. The business had revenue of $111.30 million during the quarter, compared to analysts’ expectations of $111.82 million. Power Integrations had a return on equity of 11.95% and a net margin of 13.69%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 EPS. research analysts anticipate that Power Integrations Inc will post 2.06 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.56 annualized dividend and a dividend yield of 0.74%. Power Integrations’s dividend payout ratio (DPR) is presently 29.02%.

In other news, VP Ben Sutherland sold 500 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $79.58, for a total value of $39,790.00. Following the completion of the transaction, the vice president now owns 40,965 shares of the company’s stock, valued at approximately $3,259,994.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Balu Balakrishnan sold 51,350 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $80.71, for a total value of $4,144,458.50. Following the completion of the transaction, the chief executive officer now directly owns 268,226 shares of the company’s stock, valued at approximately $21,648,520.46. The disclosure for this sale can be found here. In the last three months, insiders sold 63,089 shares of company stock valued at $5,077,253. Insiders own 4.30% of the company’s stock.

A number of brokerages have commented on POWI. Zacks Investment Research raised Power Integrations from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Wednesday, November 1st. Drexel Hamilton reaffirmed a “buy” rating and set a $84.00 price target on shares of Power Integrations in a research report on Friday, October 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 price target on shares of Power Integrations in a research report on Wednesday, October 4th. Finally, BidaskClub cut Power Integrations from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $83.50.

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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. 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.

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

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