First Trust Advisors LP Sells 33,819 Shares of Power Integrations, Inc. $POWI

First Trust Advisors LP reduced its position in Power Integrations, Inc. (NASDAQ:POWI) by 14.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 193,917 shares of the semiconductor company’s stock after selling 33,819 shares during the period. First Trust Advisors LP’s holdings in Power Integrations were worth $9,929,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in POWI. Teachers Retirement System of The State of Kentucky increased its position in shares of Power Integrations by 180.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 37,011 shares of the semiconductor company’s stock worth $1,895,000 after acquiring an additional 23,837 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Power Integrations in the 1st quarter valued at approximately $3,138,000. Calamos Advisors LLC purchased a new stake in shares of Power Integrations in the 1st quarter valued at approximately $1,181,000. Emerald Advisers LLC acquired a new position in Power Integrations in the 1st quarter worth approximately $5,941,000. Finally, Copeland Capital Management LLC grew its position in Power Integrations by 12.6% during the 1st quarter. Copeland Capital Management LLC now owns 1,321,789 shares of the semiconductor company’s stock worth $67,676,000 after purchasing an additional 147,882 shares in the last quarter.

Analysts Set New Price Targets

POWI has been the subject of a number of research analyst reports. Susquehanna increased their target price on Power Integrations from $70.00 to $85.00 and gave the company a “positive” rating in a report on Friday, May 8th. Northland Securities downgraded Power Integrations from an “outperform” rating to a “market perform” rating and set a $46.00 price target on the stock. in a report on Monday, April 6th. Stifel Nicolaus upped their price target on Power Integrations from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Power Integrations in a research note on Friday, May 8th. Finally, Benchmark raised their price objective on Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Power Integrations presently has a consensus rating of “Hold” and a consensus price target of $76.20.

Insider Activity at Power Integrations

In other Power Integrations news, VP Sunil Gupta sold 6,860 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $83.67, for a total value of $573,976.20. Following the transaction, the vice president owned 64,379 shares in the company, valued at $5,386,590.93. The trade was a 9.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Balu Balakrishnan sold 124,287 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $86.44, for a total value of $10,743,368.28. Following the completion of the sale, the director directly owned 279,516 shares of the company’s stock, valued at approximately $24,161,363.04. The trade was a 30.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 334,772 shares of company stock valued at $27,322,535. Insiders own 1.20% of the company’s stock.

Power Integrations Stock Performance

Power Integrations stock opened at $60.71 on Friday. Power Integrations, Inc. has a twelve month low of $30.86 and a twelve month high of $91.18. The firm has a market cap of $3.38 billion, a PE ratio of 202.37 and a beta of 1.57. The firm’s 50 day moving average price is $75.66 and its two-hundred day moving average price is $61.33.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Power Integrations had a net margin of 3.72% and a return on equity of 5.34%. The company had revenue of $108.31 million during the quarter, compared to analyst estimates of $106.75 million. During the same quarter last year, the business posted $0.31 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts anticipate that Power Integrations, Inc. will post 0.76 EPS for the current fiscal year.

Power Integrations Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, May 29th. Power Integrations’s dividend payout ratio (DPR) is currently 286.67%.

About Power Integrations

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.