Power Integrations, Inc. (NASDAQ:POWI) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund increased its position in Power Integrations, Inc. (NASDAQ:POWI) by 18.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,468 shares of the semiconductor company’s stock after acquiring an additional 24,309 shares during the period. New York State Common Retirement Fund owned approximately 0.28% of Power Integrations worth $7,952,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP raised its position in Power Integrations by 257.8% in the first quarter. Allworth Financial LP now owns 594 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 428 shares during the period. Quadrant Capital Group LLC boosted its stake 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 acquiring an additional 385 shares during the period. Global X Japan Co. Ltd. acquired a new position in Power Integrations in the first quarter valued at approximately $42,000. Johnson Financial Group Inc. acquired a new position in Power Integrations in the fourth quarter valued at approximately $51,000. Finally, UMB Bank n.a. boosted its stake in Power Integrations by 91.6% in the first quarter. UMB Bank n.a. now owns 1,205 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 576 shares during the period.

Power Integrations Trading Up 0.2%

POWI opened at $54.25 on Friday. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 83.46, a PEG ratio of 2.22 and a beta of 1.31. Power Integrations, Inc. has a 1 year low of $40.78 and a 1 year high of $75.57. The stock has a fifty day moving average price of $54.82 and a 200 day moving average price of $55.51.

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

Power Integrations Dividend Announcement

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

Analyst Ratings Changes

POWI has been the topic of several recent analyst reports. Wall Street Zen raised Power Integrations from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Benchmark reiterated a “buy” rating and set a $70.00 price objective on shares of Power Integrations in a research report on Wednesday. Finally, Stifel Nicolaus increased their price objective 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Power Integrations 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.