Power Integrations, Inc. (NASDAQ:POWI) Stock Holdings Lowered by Pier Capital LLC

Pier Capital LLC reduced its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,936 shares of the semiconductor company’s stock after selling 2,368 shares during the quarter. Power Integrations accounts for 1.3% of Pier Capital LLC’s holdings, making the stock its 15th biggest position. Pier Capital LLC owned about 0.21% of Power Integrations worth $12,367,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its holdings in shares of Power Integrations by 4.7% during the third quarter. State of Alaska Department of Revenue now owns 43,946 shares of the semiconductor company’s stock valued at $4,350,000 after acquiring an additional 1,989 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Power Integrations by 0.7% during the third quarter. Vontobel Holding Ltd. now owns 237,555 shares of the semiconductor company’s stock valued at $23,516,000 after acquiring an additional 1,555 shares during the period. Versor Investments LP acquired a new stake in shares of Power Integrations during the third quarter valued at approximately $460,000. Juncture Wealth Strategies LLC acquired a new stake in shares of Power Integrations during the third quarter valued at approximately $273,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Power Integrations by 291.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 21,327 shares of the semiconductor company’s stock valued at $1,750,000 after acquiring an additional 15,879 shares during the period. Institutional investors and hedge funds own 95.93% of the company’s stock.

Shares of NASDAQ POWI traded up $0.21 during trading hours on Friday, hitting $83.62. 11,063 shares of the stock were exchanged, compared to its average volume of 428,524. The company’s 50 day moving average is $94.97 and its 200 day moving average is $95.65. The firm has a market capitalization of $5.04 billion, a P/E ratio of 33.77 and a beta of 0.94. Power Integrations, Inc. has a one year low of $73.04 and a one year high of $110.66.

Power Integrations (NASDAQ:POWI) last released its earnings results on Thursday, October 28th. The semiconductor company reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.06. Power Integrations had a net margin of 22.16% and a return on equity of 17.98%. The firm had revenue of $176.80 million during the quarter, compared to analysts’ expectations of $175.32 million. During the same period in the prior year, the company earned $0.26 EPS. The business’s quarterly revenue was up 46.0% compared to the same quarter last year. On average, analysts anticipate that Power Integrations, Inc. will post 2.66 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Tuesday, November 30th were paid a $0.15 dividend. This is a boost from Power Integrations’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Monday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.72%. Power Integrations’s dividend payout ratio is currently 24.29%.

Separately, Zacks Investment Research downgraded shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Tuesday, January 4th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $105.25.

In other news, Director Steven Sharp sold 4,717 shares of the firm’s stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $105.99, for a total value of $499,954.83. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Balu Balakrishnan sold 7,500 shares of the stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $109.30, for a total transaction of $819,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,717 shares of company stock valued at $1,589,730. Corporate insiders own 1.40% of the company’s stock.

Power Integrations Profile

Power Integrations, Inc engages in the design, development and marketing of analog and mixed-signal integrated circuits and other electronic components and circuitry used in high voltage power conversion. Its products are used in power converters that convert electricity from a high-voltage source to the type of power required for a specified downstream use.

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Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

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