Algert Global LLC Cuts Stock Position in Power Integrations, Inc. (NASDAQ:POWI)

Algert Global LLC lessened its holdings in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 54.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 30,922 shares of the semiconductor company's stock after selling 36,620 shares during the period. Algert Global LLC owned about 0.05% of Power Integrations worth $1,983,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Citigroup Inc. raised its holdings in Power Integrations by 158.4% in the third quarter. Citigroup Inc. now owns 56,612 shares of the semiconductor company's stock worth $3,630,000 after purchasing an additional 34,707 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Power Integrations during the third quarter valued at approximately $983,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Power Integrations by 10.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 257,823 shares of the semiconductor company's stock valued at $16,531,000 after acquiring an additional 23,405 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Power Integrations by 10.3% in the third quarter. First Horizon Advisors Inc. now owns 2,196 shares of the semiconductor company's stock valued at $141,000 after acquiring an additional 205 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in Power Integrations by 60.2% in the third quarter. Advisors Asset Management Inc. now owns 10,451 shares of the semiconductor company's stock worth $670,000 after purchasing an additional 3,926 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stifel Nicolaus reissued a "buy" rating and issued a $95.00 price objective (down previously from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft dropped their price target on Power Integrations from $73.00 to $68.00 and set a "hold" rating on the stock in a research note on Wednesday, August 7th. Benchmark reaffirmed a "buy" rating and issued a $78.00 price objective on shares of Power Integrations in a research report on Friday, November 8th. StockNews.com upgraded shares of Power Integrations from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Finally, Susquehanna cut their price target on shares of Power Integrations from $80.00 to $77.00 and set a "positive" rating on the stock in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $78.00.

Insider Transactions at Power Integrations

In related news, VP Doug Bailey sold 8,549 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $64.96, for a total transaction of $555,343.04. Following the sale, the vice president now directly owns 86,375 shares of the company's stock, valued at approximately $5,610,920. This represents a 9.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.70% of the company's stock.

Power Integrations Price Performance

NASDAQ:POWI traded down $0.89 during midday trading on Thursday, hitting $64.77. The company's stock had a trading volume of 294,977 shares, compared to its average volume of 408,570. Power Integrations, Inc. has a fifty-two week low of $56.63 and a fifty-two week high of $89.68. The firm's 50 day moving average is $63.16 and its 200-day moving average is $67.45. The firm has a market cap of $3.68 billion, a P/E ratio of 98.14, a P/E/G ratio of 7.37 and a beta of 1.10.

Power Integrations (NASDAQ:POWI - Get Free Report) last issued its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. The firm had revenue of $115.84 million during the quarter, compared to analysts' expectations of $114.83 million. During the same quarter last year, the company posted $0.35 earnings per share. The firm's revenue was down 7.7% compared to the same quarter last year. As a group, analysts forecast that Power Integrations, Inc. will post 0.54 EPS for the current year.

Power Integrations Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.21 dividend. This is an increase from Power Integrations's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.30%. Power Integrations's dividend payout ratio is presently 127.27%.

Power Integrations Profile

Power Integrations, Inc designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company provides a range of alternating current to direct current power conversion products that address power supply ranging from less than one watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, LED lighting, and various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.