Envestnet Asset Management Inc. Boosts Stock Position in Power Integrations, Inc. (NASDAQ:POWI)

Envestnet Asset Management Inc. boosted its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 6.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 289,972 shares of the semiconductor company’s stock after buying an additional 17,905 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.51% of Power Integrations worth $14,644,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of POWI. Raymond James Financial Inc. purchased a new position in Power Integrations in the fourth quarter valued at $7,470,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in 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 buying an additional 416 shares during the last quarter. Swiss National Bank increased its holdings in 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 buying an additional 900 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in Power Integrations in the fourth quarter valued at $5,210,000. Finally, Natixis Advisors LLC increased its holdings in Power Integrations by 44.2% in the fourth quarter. Natixis Advisors LLC now owns 16,276 shares of the semiconductor company’s stock valued at $1,004,000 after buying an additional 4,990 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Stifel Nicolaus increased their target price on Power Integrations from $70.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Wall Street Zen raised Power Integrations from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Finally, Benchmark reaffirmed a “buy” rating and set a $70.00 price objective on shares of Power Integrations in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.33.

Power Integrations Price Performance

Shares of NASDAQ:POWI opened at $54.25 on Friday. The stock has a market cap 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. The firm has a fifty day moving average price of $54.82 and a 200 day moving average price of $55.55. Power Integrations, Inc. has a 1-year low of $40.78 and a 1-year high of $75.71.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Monday, May 12th. The semiconductor company reported $0.31 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $105.44 million. During the same period in the prior year, the business earned $0.18 EPS. The firm’s revenue was up 15.1% compared to the same quarter last year. Sell-side analysts expect that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors 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 was Friday, May 30th. Power Integrations’s dividend payout ratio is presently 129.23%.

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.