Allworth Financial LP Boosts Stake in Power Integrations, Inc. (NASDAQ:POWI)

Allworth Financial LP lifted its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 257.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 594 shares of the semiconductor company’s stock after purchasing an additional 428 shares during the quarter. Allworth Financial LP’s holdings in Power Integrations were worth $30,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of POWI. Quadrant Capital Group LLC lifted its position in Power Integrations by 133.2% in the fourth quarter. Quadrant Capital Group LLC now owns 674 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 385 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in shares of Power Integrations in the 1st quarter valued at approximately $42,000. Johnson Financial Group Inc. acquired a new position in shares of Power Integrations in the 4th quarter worth approximately $51,000. UMB Bank n.a. boosted its position in shares of Power Integrations by 91.6% during the 1st quarter. UMB Bank n.a. now owns 1,205 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 576 shares during the period. Finally, Covestor Ltd increased its holdings in Power Integrations by 16.9% in the 4th quarter. Covestor Ltd now owns 1,619 shares of the semiconductor company’s stock valued at $100,000 after purchasing an additional 234 shares during the last quarter.

Power Integrations Trading Up 0.2%

Power Integrations stock opened at $54.25 on Friday. The firm has a market capitalization of $3.05 billion, a P/E ratio of 83.46, a P/E/G ratio of 2.22 and a beta of 1.31. Power Integrations, Inc. has a twelve month low of $40.78 and a twelve month high of $75.71. The stock’s fifty day simple moving average is $54.82 and its 200-day simple moving average is $55.55.

Power Integrations (NASDAQ:POWI) last released 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. The firm had revenue of $105.53 million during the quarter, compared to analysts’ expectations of $105.44 million. Power Integrations had a return on equity of 5.12% and a net margin of 8.56%. Power Integrations’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS. Sell-side analysts predict that Power Integrations, Inc. will post 0.93 earnings per share for the current year.

Power Integrations Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 1.55%. Power Integrations’s dividend payout ratio (DPR) is 129.23%.

Analysts Set New Price Targets

A number of research firms have commented on POWI. Benchmark restated a “buy” rating and set a $70.00 price target on shares of Power Integrations in a research note on Wednesday. Wall Street Zen raised Power Integrations from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Finally, Stifel Nicolaus lifted their target price on Power Integrations from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.33.

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.