Capstone Asset Management Co. Has $375,000 Position in Power Integrations, Inc. (NASDAQ:POWI)
Capstone Asset Management Co. decreased its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 7.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,143 shares of the semiconductor company’s stock after selling 440 shares during the period. Capstone Asset Management Co.’s holdings in Power Integrations were worth $375,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Power Integrations by 70,779.1% in the first quarter. BlackRock Inc. now owns 3,457,481 shares of the semiconductor company’s stock worth $227,330,000 after buying an additional 3,452,603 shares during the period. Vanguard Group Inc. raised its stake in Power Integrations by 6.4% in the first quarter. Vanguard Group Inc. now owns 2,537,323 shares of the semiconductor company’s stock worth $166,829,000 after buying an additional 153,103 shares during the period. Bank of New York Mellon Corp raised its stake in Power Integrations by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 1,142,535 shares of the semiconductor company’s stock worth $75,121,000 after buying an additional 30,058 shares during the period. State Street Corp raised its stake in Power Integrations by 7.7% in the first quarter. State Street Corp now owns 790,601 shares of the semiconductor company’s stock worth $51,987,000 after buying an additional 56,748 shares during the period. Finally, Impax Asset Management LTD raised its stake in Power Integrations by 6.0% in the first quarter. Impax Asset Management LTD now owns 694,875 shares of the semiconductor company’s stock worth $45,686,000 after buying an additional 39,528 shares during the period. 95.80% of the stock is owned by hedge funds and other institutional investors.
Shares of Power Integrations, Inc. (NASDAQ POWI) traded up 1.57% during mid-day trading on Tuesday, reaching $71.15. The company had a trading volume of 78,850 shares. The firm has a 50-day moving average price of $72.88 and a 200-day moving average price of $67.80. Power Integrations, Inc. has a 1-year low of $55.44 and a 1-year high of $82.80. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 39.55 and a beta of 1.23.
Power Integrations (NASDAQ:POWI) last released its earnings results on Thursday, July 27th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The firm had revenue of $107.56 million for the quarter, compared to the consensus estimate of $107.85 million. Power Integrations had a return on equity of 12.08% and a net margin of 13.37%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. Equities analysts expect that Power Integrations, Inc. will post $2.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Tuesday, August 29th. Power Integrations’s dividend payout ratio is currently 29.95%.
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A number of analysts have recently weighed in on POWI shares. BidaskClub raised Power Integrations from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Zacks Investment Research raised Power Integrations from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Friday, May 5th. Stifel Nicolaus reissued a “buy” rating and set a $85.00 price objective (up previously from $82.00) on shares of Power Integrations in a research note on Sunday, July 30th. Drexel Hamilton set a $84.00 price objective on Power Integrations and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Sidoti raised Power Integrations from a “neutral” rating to a “buy” rating in a research note on Monday, May 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Power Integrations currently has an average rating of “Buy” and a consensus target price of $78.50.
In other news, Director Nicholas Brathwaite sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $80.00, for a total transaction of $320,000.00. Following the transaction, the director now owns 28,109 shares of the company’s stock, valued at approximately $2,248,720. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David Mh Matthews sold 776 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $67.04, for a total value of $52,023.04. Following the transaction, the vice president now directly owns 44,405 shares in the company, valued at approximately $2,976,911.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,981 shares of company stock worth $10,093,383. Corporate insiders own 4.30% of the company’s stock.
About Power Integrations
Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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