Retirement Systems of Alabama Lowers Stock Holdings in Power Integrations, Inc. (NASDAQ:POWI)

Retirement Systems of Alabama cut its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,911 shares of the semiconductor company’s stock after selling 453 shares during the quarter. Retirement Systems of Alabama’s holdings in Power Integrations were worth $7,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in Power Integrations during the fourth quarter worth approximately $26,000. Itau Unibanco Holding S.A. purchased a new position in shares of Power Integrations in the 3rd quarter worth $65,000. Headlands Technologies LLC raised its position in shares of Power Integrations by 374.6% in the 3rd quarter. Headlands Technologies LLC now owns 1,082 shares of the semiconductor company’s stock worth $83,000 after buying an additional 854 shares during the period. Signaturefd LLC boosted its holdings in Power Integrations by 17.4% in the third quarter. Signaturefd LLC now owns 1,421 shares of the semiconductor company’s stock valued at $108,000 after acquiring an additional 211 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Power Integrations during the fourth quarter valued at about $209,000.

Power Integrations Stock Performance

Power Integrations stock opened at $68.60 on Friday. The firm has a market capitalization of $3.90 billion, a PE ratio of 70.72 and a beta of 1.20. Power Integrations, Inc. has a one year low of $62.13 and a one year high of $99.60. The stock’s 50 day moving average price is $69.50 and its 200 day moving average price is $74.26.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, February 8th. The semiconductor company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The business had revenue of $89.51 million for the quarter, compared to analysts’ expectations of $90.21 million. Power Integrations had a net margin of 12.54% and a return on equity of 6.46%. On average, 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 issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Wednesday, February 28th. Power Integrations’s dividend payout ratio is currently 82.47%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Power Integrations

In other Power Integrations news, VP Doug Bailey sold 423 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $74.98, for a total value of $31,716.54. Following the transaction, the vice president now directly owns 98,863 shares of the company’s stock, valued at approximately $7,412,747.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Doug Bailey sold 423 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $74.98, for a total value of $31,716.54. Following the sale, the vice president now owns 98,863 shares in the company, valued at approximately $7,412,747.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Yang Chiah Yee sold 996 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $80.06, for a total transaction of $79,739.76. Following the transaction, the vice president now directly owns 32,625 shares in the company, 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 worth $4,203,262 in the last 90 days. 1.70% of the stock is owned by corporate insiders.

About Power Integrations

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.