Arizona State Retirement System Sells 285 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Arizona State Retirement System decreased its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 16,044 shares of the semiconductor company’s stock after selling 285 shares during the quarter. Arizona State Retirement System’s holdings in Power Integrations were worth $1,317,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of Power Integrations by 5.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,275,969 shares of the semiconductor company’s stock worth $173,679,000 after purchasing an additional 123,988 shares during the period. Fiera Capital Corp increased its holdings in shares of Power Integrations by 2.1% during the 3rd quarter. Fiera Capital Corp now owns 503,195 shares of the semiconductor company’s stock worth $38,399,000 after purchasing an additional 10,271 shares during the period. Seven Eight Capital LP increased its holdings in shares of Power Integrations by 34.7% during the 3rd quarter. Seven Eight Capital LP now owns 4,180 shares of the semiconductor company’s stock worth $319,000 after purchasing an additional 1,076 shares during the period. Inspire Investing LLC increased its holdings in shares of Power Integrations by 18.5% during the 3rd quarter. Inspire Investing LLC now owns 4,547 shares of the semiconductor company’s stock worth $347,000 after purchasing an additional 711 shares during the period. Finally, Alps Advisors Inc. increased its holdings in shares of Power Integrations by 106.8% during the 3rd quarter. Alps Advisors Inc. now owns 57,520 shares of the semiconductor company’s stock worth $4,389,000 after purchasing an additional 29,701 shares during the period.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. TD Cowen lifted their target price on shares of Power Integrations from $65.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, February 9th. Benchmark lifted their target price on shares of Power Integrations from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Susquehanna boosted their price target on shares of Power Integrations from $80.00 to $100.00 and gave the company a “positive” rating in a research report on Monday, December 18th. StockNews.com upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus boosted their price target on shares of Power Integrations from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Power Integrations has a consensus rating of “Moderate Buy” and an average price target of $86.17.

Insider Buying and Selling

In related news, VP Yang Chiah Yee sold 996 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $80.06, for a total transaction of $79,739.76. Following the completion of the sale, the vice president now directly owns 32,625 shares of the company’s stock, valued at $2,611,957.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Balu Balakrishnan sold 9,799 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $68.61, for a total value of $672,309.39. Following the completion of the transaction, the chief executive officer now owns 552,161 shares in the company, valued at $37,883,766.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Yang Chiah Yee sold 996 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $80.06, for a total transaction of $79,739.76. Following the completion of the transaction, the vice president now owns 32,625 shares of the company’s stock, valued at approximately $2,611,957.50. The disclosure for this sale can be found here. Insiders sold a total of 57,411 shares of company stock valued at $4,203,262 over the last ninety days. Insiders own 1.70% of the company’s stock.

Power Integrations Trading Down 3.2 %

Shares of POWI stock opened at $68.04 on Monday. Power Integrations, Inc. has a 1 year low of $66.90 and a 1 year high of $99.60. The firm’s 50 day moving average is $72.06 and its 200-day moving average is $75.33. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 70.14 and a beta of 1.21.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Thursday, February 8th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. Power Integrations had a net margin of 12.54% and a return on equity of 6.46%. The company had revenue of $89.51 million for the quarter, compared to analyst estimates of $90.21 million. On average, equities research analysts forecast that Power Integrations, Inc. will post 0.65 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Wednesday, February 28th. Power Integrations’s dividend payout ratio (DPR) is 82.47%.

Power Integrations Profile

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.