Connor Clark & Lunn Investment Management Ltd. grew its stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 214.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,860 shares of the semiconductor company's stock after purchasing an additional 28,548 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Power Integrations worth $2,684,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of POWI. Vanguard Group Inc. lifted its holdings in Power Integrations by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 6,528,564 shares of the semiconductor company's stock valued at $467,119,000 after purchasing an additional 105,034 shares during the last quarter. Copeland Capital Management LLC raised its stake in shares of Power Integrations by 21.5% in the third quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company's stock valued at $77,401,000 after acquiring an additional 213,392 shares during the last quarter. Ceredex Value Advisors LLC raised its stake in shares of Power Integrations by 4.8% in the second quarter. Ceredex Value Advisors LLC now owns 756,282 shares of the semiconductor company's stock valued at $53,083,000 after acquiring an additional 34,400 shares during the last quarter. Congress Asset Management Co. boosted its holdings in shares of Power Integrations by 18.4% in the 3rd quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company's stock worth $39,875,000 after acquiring an additional 96,609 shares in the last quarter. Finally, Millennium Management LLC grew its position in Power Integrations by 23.4% during the 2nd quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company's stock worth $41,634,000 after acquiring an additional 112,595 shares during the last quarter.
Power Integrations Trading Up 6.9 %
Shares of NASDAQ:POWI traded up $4.37 during trading on Monday, hitting $68.05. 793,314 shares of the company's stock were exchanged, compared to its average volume of 408,645. The firm has a 50-day moving average price of $62.73 and a two-hundred day moving average price of $67.60. Power Integrations, Inc. has a 1-year low of $56.63 and a 1-year high of $89.68. The firm has a market cap of $3.87 billion, a P/E ratio of 103.11, a PEG ratio of 6.90 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 EPS for the quarter, beating 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 company had revenue of $115.84 million during the quarter, compared to analysts' expectations of $114.83 million. During the same quarter in the previous year, the company posted $0.35 EPS. The business's revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, research analysts predict 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. Shareholders of record on Friday, November 29th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a yield of 1.23%. This is a boost from Power Integrations's previous quarterly dividend of $0.20. Power Integrations's dividend payout ratio (DPR) is 121.21%.
Insider Transactions at Power Integrations
In other news, VP Sunil Gupta sold 2,127 shares of the business's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total value of $140,169.30. Following the completion of the transaction, the vice president now owns 51,899 shares of the company's stock, valued at $3,420,144.10. The trade was a 3.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Doug Bailey sold 8,549 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $64.96, for a total value of $555,343.04. Following the sale, the vice president now directly owns 86,375 shares in the company, valued at $5,610,920. The trade was a 9.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,782 shares of company stock worth $702,135. 1.50% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
POWI has been the topic of a number of recent analyst reports. TD Cowen reduced their price objective on Power Integrations from $80.00 to $70.00 and set a "hold" rating on the stock in a research note on Wednesday, August 7th. Northland Securities upgraded shares of Power Integrations from a "market perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research report on Monday, August 12th. Susquehanna lowered their price objective on shares of Power Integrations from $80.00 to $77.00 and set a "positive" rating for the company in a research report on Thursday, November 7th. Stifel Nicolaus reiterated a "buy" rating and set a $95.00 target price (down from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Power Integrations from $73.00 to $68.00 and set a "hold" rating on the stock in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $78.00.
View Our Latest Stock Report on POWI
About Power Integrations
(
Free Report)
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.
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