Principal Financial Group Inc. Boosts Stock Holdings in Power Integrations, Inc. (NASDAQ:POWI)

Principal Financial Group Inc. increased its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 0.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,718 shares of the semiconductor company’s stock after purchasing an additional 440 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Power Integrations worth $6,702,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in POWI. Victory Capital Management Inc. increased its holdings in Power Integrations by 36.5% in the fourth quarter. Victory Capital Management Inc. now owns 17,185 shares of the semiconductor company’s stock valued at $1,060,000 after buying an additional 4,596 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Power Integrations in the fourth quarter valued at approximately $2,120,000. Raymond James Financial Inc. acquired a new stake in shares of Power Integrations in the fourth quarter valued at approximately $7,470,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Power Integrations by 3.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,277 shares of the semiconductor company’s stock valued at $881,000 after purchasing an additional 416 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of Power Integrations by 0.8% in the fourth quarter. Swiss National Bank now owns 111,800 shares of the semiconductor company’s stock valued at $6,898,000 after purchasing an additional 900 shares during the last quarter.

Power Integrations Trading Down 4.6%

POWI opened at $54.05 on Wednesday. The business’s 50 day moving average is $54.70 and its 200-day moving average is $55.67. The stock has a market cap of $3.04 billion, a PE ratio of 83.16, a price-to-earnings-growth ratio of 2.32 and a beta of 1.31. Power Integrations, Inc. has a twelve month low of $40.78 and a twelve month high of $79.13.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Monday, May 12th. The semiconductor company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. Power Integrations had a return on equity of 5.12% and a net margin of 8.56%. The firm had revenue of $105.53 million for the quarter, compared to analysts’ expectations of $105.44 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, analysts forecast that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, May 30th. Power Integrations’s dividend payout ratio is currently 129.23%.

Wall Street Analysts Forecast Growth

Several analysts have commented on POWI shares. Stifel Nicolaus lifted their target price on shares of Power Integrations from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Wall Street Zen raised shares of Power Integrations from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.67.

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.