Victory Capital Management Inc. Increases Stock Position in Power Integrations, Inc. (NASDAQ:POWI)

Victory Capital Management Inc. raised its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,589 shares of the semiconductor company’s stock after buying an additional 744 shares during the quarter. Victory Capital Management Inc.’s holdings in Power Integrations were worth $807,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bayesian Capital Management LP purchased a new position in shares of Power Integrations in the 1st quarter worth about $559,000. Tidal Investments LLC purchased a new position in shares of Power Integrations in the 1st quarter worth about $632,000. DekaBank Deutsche Girozentrale raised its position in shares of Power Integrations by 7.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,622 shares of the semiconductor company’s stock worth $605,000 after purchasing an additional 633 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Power Integrations by 69.8% in the 2nd quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Finally, Mather Group LLC. raised its position in shares of Power Integrations by 22.8% in the 2nd quarter. Mather Group LLC. now owns 868 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 161 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Cowen lowered their price target on Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 price objective (down from $100.00) on shares of Power Integrations in a report on Monday, August 5th. Susquehanna reduced their price objective on Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, Northland Capmk upgraded Power Integrations from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.00.

Power Integrations Stock Down 1.4 %

Power Integrations stock opened at $64.77 on Thursday. The business has a 50-day simple moving average of $63.05 and a two-hundred day simple moving average of $67.46. The company has a market cap of $3.68 billion, a P/E ratio of 98.14, a P/E/G ratio of 7.37 and a beta of 1.10. Power Integrations, Inc. has a 52-week low of $56.63 and a 52-week high of $89.68.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $115.84 million during the quarter, compared to the consensus estimate of $114.83 million. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. Research analysts anticipate that Power Integrations, Inc. will post 0.54 EPS for the current fiscal year.

Power Integrations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.21 per share. This is an increase from Power Integrations’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, November 29th. Power Integrations’s payout ratio is currently 127.27%.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, VP Doug Bailey sold 8,549 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $64.96, for a total transaction of $555,343.04. Following the completion of the sale, the vice president now directly owns 86,375 shares in the company, valued at $5,610,920. The trade was a 9.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Power Integrations Company 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.