Mirae Asset Global Investments Co. Ltd. Increases Stock Position in Power Integrations, Inc. (NASDAQ:POWI)

Mirae Asset Global Investments Co. Ltd. grew its position in Power Integrations, Inc. (NASDAQ:POWI) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,937 shares of the semiconductor company’s stock after purchasing an additional 911 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Power Integrations were worth $2,130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Power Integrations by 1.3% in the third quarter. Vanguard Group Inc. now owns 6,402,391 shares of the semiconductor company’s stock valued at $488,566,000 after purchasing an additional 81,455 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Power Integrations by 6.4% in the third quarter. JPMorgan Chase & Co. now owns 2,556,319 shares of the semiconductor company’s stock valued at $195,073,000 after purchasing an additional 154,032 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Power Integrations by 2.8% in the first quarter. Wellington Management Group LLP now owns 2,496,977 shares of the semiconductor company’s stock valued at $231,420,000 after purchasing an additional 67,672 shares during the last quarter. State Street Corp raised its holdings in shares of Power Integrations by 4.0% in the first quarter. State Street Corp now owns 2,363,621 shares of the semiconductor company’s stock valued at $200,057,000 after purchasing an additional 91,770 shares during the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of Power Integrations by 0.3% in the first quarter. Macquarie Group Ltd. now owns 1,388,016 shares of the semiconductor company’s stock valued at $117,482,000 after purchasing an additional 3,797 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on POWI shares. Benchmark raised their price objective on shares of Power Integrations from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Northland Securities upgraded shares of Power Integrations from an “under perform” rating to a “market perform” rating and set a $67.00 price objective for the company in a report on Monday, February 26th. TD Cowen raised their price objective on shares of Power Integrations from $65.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 9th. Stifel Nicolaus raised their price objective on shares of Power Integrations from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Finally, StockNews.com upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $86.17.

Power Integrations Stock Down 1.7 %

Shares of NASDAQ:POWI opened at $62.89 on Friday. The firm has a market capitalization of $3.58 billion, a PE ratio of 64.84 and a beta of 1.21. Power Integrations, Inc. has a twelve month low of $62.13 and a twelve month high of $99.60. The company has a 50-day moving average price of $70.92 and a two-hundred day moving average price of $74.96.

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

Power Integrations Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were given a $0.20 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. Power Integrations’s dividend payout ratio (DPR) is currently 82.47%.

Insider Activity

In other news, VP Doug Bailey sold 822 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $73.96, for a total value of $60,795.12. Following the completion of the transaction, the vice president now directly owns 99,106 shares in the company, valued at $7,329,879.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Balu Balakrishnan sold 9,799 shares of the firm’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 sale, the chief executive officer now directly owns 552,161 shares of the company’s stock, valued at $37,883,766.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Doug Bailey sold 822 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $73.96, for a total transaction of $60,795.12. Following the completion of the sale, the vice president now directly owns 99,106 shares in the company, valued at $7,329,879.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,411 shares of company stock worth $4,203,262. 1.70% of the stock is owned by company insiders.

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.