Varma Mutual Pension Insurance Co reduced its position in shares of Power Integrations Inc (NASDAQ:POWI) by 66.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,000 shares of the semiconductor company’s stock after selling 100,000 shares during the quarter. Varma Mutual Pension Insurance Co owned 0.17% of Power Integrations worth $3,149,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Rothschild Asset Management Inc. boosted its holdings in Power Integrations by 1.3% during the second quarter. Rothschild Asset Management Inc. now owns 56,605 shares of the semiconductor company’s stock valued at $4,135,000 after acquiring an additional 730 shares during the period. Eqis Capital Management Inc. boosted its holdings in Power Integrations by 10.5% during the second quarter. Eqis Capital Management Inc. now owns 9,040 shares of the semiconductor company’s stock valued at $660,000 after acquiring an additional 860 shares during the period. Royal Bank of Canada boosted its holdings in Power Integrations by 4.3% during the first quarter. Royal Bank of Canada now owns 20,998 shares of the semiconductor company’s stock valued at $1,435,000 after acquiring an additional 866 shares during the period. Rhumbline Advisers boosted its holdings in Power Integrations by 1.2% during the second quarter. Rhumbline Advisers now owns 80,847 shares of the semiconductor company’s stock valued at $5,906,000 after acquiring an additional 955 shares during the period. Finally, Aperio Group LLC boosted its holdings in Power Integrations by 3.5% during the second quarter. Aperio Group LLC now owns 31,788 shares of the semiconductor company’s stock valued at $2,322,000 after acquiring an additional 1,066 shares during the period. 97.86% of the stock is currently owned by institutional investors.
NASDAQ:POWI opened at $59.05 on Wednesday. Power Integrations Inc has a 12-month low of $47.35 and a 12-month high of $82.20. The stock has a market capitalization of $1.72 billion, a P/E ratio of 25.90 and a beta of 0.96.
Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, October 25th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. Power Integrations had a net margin of 7.04% and a return on equity of 13.46%. The firm had revenue of $110.09 million during the quarter, compared to analyst estimates of $113.95 million. Analysts expect that Power Integrations Inc will post 1.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, November 30th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Thursday, November 29th. Power Integrations’s payout ratio is 28.07%.
Several equities research analysts recently weighed in on the stock. Loop Capital cut shares of Power Integrations from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. ValuEngine upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Zacks Investment Research cut shares of Power Integrations from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. BidaskClub cut shares of Power Integrations from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Finally, Stifel Nicolaus cut shares of Power Integrations from a “buy” rating to a “hold” rating and reduced their target price for the company from $85.00 to $75.00 in a research note on Wednesday, September 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Power Integrations currently has a consensus rating of “Hold” and an average price target of $82.20.
In other news, Director Nicholas Brathwaite sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $57.24, for a total transaction of $457,920.00. Following the completion of the sale, the director now owns 31,458 shares of the company’s stock, valued at $1,800,655.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Doug Bailey sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $72.95, for a total transaction of $36,475.00. Following the sale, the vice president now directly owns 53,708 shares of the company’s stock, valued at approximately $3,917,998.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,149 shares of company stock valued at $1,054,651. Company insiders own 4.00% of the company’s stock.
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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 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, liquid-crystal-display monitors, main and standby power supplies for desktop computers and TVs, light-emitting diode lamps, and other consumer and industrial applications.
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