Power Integrations, Inc. $POWI Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lowered its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 17.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 593,599 shares of the semiconductor company’s stock after selling 125,074 shares during the period. Congress Asset Management Co. owned about 1.06% of Power Integrations worth $23,869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hantz Financial Services Inc. boosted its holdings in Power Integrations by 475.9% during the second quarter. Hantz Financial Services Inc. now owns 478 shares of the semiconductor company’s stock worth $27,000 after buying an additional 395 shares in the last quarter. Bayforest Capital Ltd lifted its position in shares of Power Integrations by 54.3% during the 1st quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 222 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Power Integrations by 576.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 536 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Power Integrations by 125.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 585 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 326 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Power Integrations by 364.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 622 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 488 shares during the last quarter.

Power Integrations Stock Up 1.1%

POWI opened at $36.58 on Monday. The firm has a market capitalization of $2.02 billion, a P/E ratio of 118.00, a PEG ratio of 8.29 and a beta of 1.39. The stock has a fifty day moving average of $38.00 and a 200-day moving average of $45.06. Power Integrations, Inc. has a 12-month low of $30.86 and a 12-month high of $68.20.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Wednesday, November 5th. The semiconductor company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $118.92 million for the quarter, compared to analyst estimates of $118.36 million. Power Integrations had a return on equity of 4.49% and a net margin of 4.03%.Power Integrations’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. On average, analysts expect that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, November 28th. Power Integrations’s dividend payout ratio is 270.97%.

Insider Activity at Power Integrations

In related news, VP Gagan Jain sold 1,033 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $33.80, for a total transaction of $34,915.40. Following the completion of the sale, the vice president directly owned 17,212 shares in the company, valued at approximately $581,765.60. This trade represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 1,600 shares of company stock worth $58,272 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on POWI shares. Benchmark reaffirmed a “buy” rating and set a $50.00 target price on shares of Power Integrations in a report on Wednesday, December 10th. Weiss Ratings restated a “sell (d+)” rating on shares of Power Integrations in a report on Monday, December 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.00.

Power Integrations Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.