Congress Wealth Management LLC DE Has $4.31 Million Stake in Power Integrations, Inc. (NASDAQ:POWI)

Congress Wealth Management LLC DE cut its holdings in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 13.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,895 shares of the semiconductor company's stock after selling 10,792 shares during the period. Congress Wealth Management LLC DE owned approximately 0.12% of Power Integrations worth $4,313,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Smartleaf Asset Management LLC grew its position in shares of Power Integrations by 110.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 537 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 282 shares in the last quarter. Versant Capital Management Inc grew its stake in Power Integrations by 1,618.2% during the fourth quarter. Versant Capital Management Inc now owns 567 shares of the semiconductor company's stock worth $35,000 after buying an additional 534 shares in the last quarter. UMB Bank n.a. raised its position in shares of Power Integrations by 43.9% in the 4th quarter. UMB Bank n.a. now owns 629 shares of the semiconductor company's stock valued at $39,000 after buying an additional 192 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Power Integrations in the 3rd quarter valued at $87,000. Finally, KBC Group NV raised its stake in Power Integrations by 43.0% during the fourth quarter. KBC Group NV now owns 2,549 shares of the semiconductor company's stock worth $157,000 after acquiring an additional 767 shares in the last quarter.

Insider Buying and Selling

In other Power Integrations news, VP Clifford Walker sold 2,472 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $60.75, for a total value of $150,174.00. Following the transaction, the vice president now directly owns 142,145 shares of the company's stock, valued at approximately $8,635,308.75. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Nayyar sold 1,877 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $58.01, for a total transaction of $108,884.77. Following the sale, the chief financial officer now directly owns 112,653 shares of the company's stock, valued at approximately $6,535,000.53. This trade represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,544 shares of company stock valued at $2,433,105 over the last quarter. Insiders own 1.70% of the company's stock.

Remove Ads

Power Integrations Trading Down 6.5 %

NASDAQ:POWI traded down $3.57 during trading hours on Friday, hitting $50.98. 544,662 shares of the company were exchanged, compared to its average volume of 429,024. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 89.44, a price-to-earnings-growth ratio of 4.08 and a beta of 1.11. Power Integrations, Inc. has a one year low of $50.95 and a one year high of $79.13. The company has a fifty day simple moving average of $59.70 and a 200 day simple moving average of $61.78.

Power Integrations (NASDAQ:POWI - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.12). Power Integrations had a return on equity of 4.48% and a net margin of 7.69%. Equities research analysts predict that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Friday, February 28th. Power Integrations's dividend payout ratio (DPR) is presently 147.37%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of Power Integrations from a "hold" rating to a "buy" rating in a research report on Wednesday. Benchmark restated a "buy" rating and set a $78.00 price objective on shares of Power Integrations in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.00.

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.