Harbor Capital Advisors Inc. Sells 22,837 Shares of Power Integrations, Inc. $POWI

Harbor Capital Advisors Inc. lowered its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 66.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 11,722 shares of the semiconductor company’s stock after selling 22,837 shares during the period. Harbor Capital Advisors Inc.’s holdings in Power Integrations were worth $471,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Foresight Group Ltd Liability Partnership purchased a new stake in Power Integrations in the first quarter worth approximately $11,271,000. WCM Investment Management LLC raised its stake in Power Integrations by 5.9% during the 2nd quarter. WCM Investment Management LLC now owns 260,629 shares of the semiconductor company’s stock valued at $14,530,000 after buying an additional 14,441 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Power Integrations by 173.6% during the 2nd quarter. Marshall Wace LLP now owns 423,731 shares of the semiconductor company’s stock valued at $23,687,000 after buying an additional 268,875 shares during the period. Global Alpha Capital Management Ltd. boosted its stake in shares of Power Integrations by 119.8% in the 2nd quarter. Global Alpha Capital Management Ltd. now owns 67,137 shares of the semiconductor company’s stock worth $3,753,000 after buying an additional 36,592 shares during the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new position in shares of Power Integrations in the 2nd quarter worth $660,000.

Insider Activity at Power Integrations

In other news, VP Gagan Jain sold 1,033 shares of the firm’s stock in a transaction 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 sale, the vice president directly owned 17,212 shares in the company, valued at $581,765.60. This trade represents a 5.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

POWI has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Power Integrations in a research report on Monday, December 22nd. Benchmark reaffirmed a “buy” rating and set a $50.00 price target on shares of Power Integrations in a research report on Wednesday, December 10th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.00.

Power Integrations Stock Performance

NASDAQ:POWI opened at $37.30 on Monday. The stock has a 50-day simple moving average of $37.09 and a two-hundred day simple moving average of $44.39. The firm has a market capitalization of $2.06 billion, a PE ratio of 120.32, a P/E/G ratio of 8.45 and a beta of 1.40. Power Integrations, Inc. has a 52-week low of $30.86 and a 52-week high of $68.20.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Wednesday, November 5th. The semiconductor company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The firm had revenue of $118.92 million for the quarter, compared to the consensus estimate of $118.36 million. Power Integrations had a return on equity of 4.49% and a net margin of 4.03%.The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share. Equities analysts forecast that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders 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 is Friday, November 28th. Power Integrations’s dividend payout ratio is presently 270.97%.

Power Integrations Company 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.