Avantax Advisory Services Inc. Purchases 1,525 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Avantax Advisory Services Inc. raised its position in Power Integrations, Inc. (NASDAQ:POWI) by 25.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,479 shares of the semiconductor company’s stock after purchasing an additional 1,525 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Power Integrations were worth $378,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in shares of Power Integrations by 257.8% in the first quarter. Allworth Financial LP now owns 594 shares of the semiconductor company’s stock worth $30,000 after buying an additional 428 shares during the period. Quadrant Capital Group LLC grew its position in Power Integrations by 133.2% in the 4th 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 last quarter. Global X Japan Co. Ltd. bought a new position in Power Integrations in the 1st quarter valued at $42,000. Johnson Financial Group Inc. purchased a new stake in Power Integrations in the fourth quarter worth $51,000. Finally, Larson Financial Group LLC bought a new stake in shares of Power Integrations during the first quarter worth $45,000.

Power Integrations Stock Down 1.7%

Shares of NASDAQ:POWI opened at $47.49 on Thursday. The firm has a 50 day moving average of $54.31 and a 200 day moving average of $54.59. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 73.06, a price-to-earnings-growth ratio of 1.98 and a beta of 1.31. Power Integrations, Inc. has a 52 week low of $40.78 and a 52 week high of $69.53.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Power Integrations had a net margin of 8.56% and a return on equity of 5.12%. The business had revenue of $115.85 million for the quarter, compared to analysts’ expectations of $115.02 million. During the same period last year, the business earned $0.28 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts expect that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.8%. Power Integrations’s dividend payout ratio (DPR) is presently 129.23%.

Analysts Set New Price Targets

A number of research analysts have recently commented on POWI shares. Wall Street Zen upgraded shares of Power Integrations from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Stifel Nicolaus raised their target price on shares of Power Integrations from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Finally, Benchmark reaffirmed a “buy” rating and set a $70.00 price target on shares of Power Integrations in a research note on Wednesday, July 16th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.