Edgestream Partners L.P. Raises Stock Holdings in Power Integrations, Inc. (NASDAQ:POWI)

Edgestream Partners L.P. grew its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 44.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 76,366 shares of the semiconductor company's stock after purchasing an additional 23,509 shares during the period. Edgestream Partners L.P. owned about 0.13% of Power Integrations worth $4,712,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in Power Integrations during the fourth quarter worth $7,470,000. Proficio Capital Partners LLC purchased a new position in Power Integrations during the 4th quarter worth $2,120,000. M&T Bank Corp raised its holdings in shares of Power Integrations by 28.9% in the fourth quarter. M&T Bank Corp now owns 53,672 shares of the semiconductor company's stock valued at $3,312,000 after purchasing an additional 12,037 shares during the last quarter. Assetmark Inc. lifted its position in shares of Power Integrations by 10.9% during the fourth quarter. Assetmark Inc. now owns 18,747 shares of the semiconductor company's stock valued at $1,157,000 after purchasing an additional 1,843 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Power Integrations by 36.5% in the 4th quarter. Victory Capital Management Inc. now owns 17,185 shares of the semiconductor company's stock valued at $1,060,000 after buying an additional 4,596 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Benchmark reaffirmed a "buy" rating and issued a $78.00 target price on shares of Power Integrations in a report on Friday, February 7th. StockNews.com cut Power Integrations from a "buy" rating to a "hold" rating in a research note on Friday, March 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $78.00.

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Insiders Place Their Bets

In other news, CFO Sandeep Nayyar sold 1,877 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $58.01, for a total value 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 represents a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Clifford Walker sold 1,131 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $58.01, for a total transaction of $65,609.31. Following the transaction, the vice president now directly owns 143,718 shares of the company's stock, valued at approximately $8,337,081.18. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,544 shares of company stock worth $2,433,105 in the last quarter. 1.70% of the stock is owned by company insiders.

Power Integrations Stock Performance

NASDAQ:POWI traded up $1.16 during trading hours on Wednesday, reaching $56.62. The stock had a trading volume of 532,419 shares, compared to its average volume of 521,024. The stock has a market cap of $3.22 billion, a P/E ratio of 99.34, a price-to-earnings-growth ratio of 4.08 and a beta of 1.11. The stock has a 50 day simple moving average of $61.19 and a 200 day simple moving average of $62.39. Power Integrations, Inc. has a 12-month low of $54.55 and a 12-month high of $79.13.

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

Power Integrations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.48%. Power Integrations's dividend payout ratio (DPR) is 147.37%.

About Power Integrations

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.