Harbor Capital Advisors Inc. Increases Stock Position in Power Integrations, Inc. (NASDAQ:POWI)

Harbor Capital Advisors Inc. raised its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 166.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,293 shares of the semiconductor company's stock after purchasing an additional 17,677 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Power Integrations were worth $1,814,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Power Integrations by 69.8% in the second quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Power Integrations during the first quarter valued at about $55,000. Mather Group LLC. grew its position in Power Integrations by 22.8% during the second quarter. Mather Group LLC. now owns 868 shares of the semiconductor company's stock valued at $62,000 after buying an additional 161 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in Power Integrations during the second quarter valued at about $63,000. Finally, Quest Partners LLC grew its position in Power Integrations by 23.5% during the second quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company's stock valued at $88,000 after buying an additional 240 shares during the period.

Analyst Ratings Changes

POWI has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Power Integrations from $73.00 to $68.00 and set a "hold" rating for the company in a research report 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 for the company in a research report on Monday, August 12th. Susquehanna reduced their price target on shares of Power Integrations from $95.00 to $80.00 and set a "positive" rating for the company in a research report on Thursday, August 8th. Benchmark reiterated a "buy" rating and set a $78.00 target price on shares of Power Integrations in a research report on Wednesday, September 11th. Finally, Stifel Nicolaus reiterated a "buy" rating and set a $95.00 target price (down previously from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $78.50.

Power Integrations Trading Up 2.9 %

Shares of Power Integrations stock traded up $1.85 on Wednesday, reaching $66.43. The stock had a trading volume of 892,518 shares, compared to its average volume of 406,718. Power Integrations, Inc. has a 1 year low of $56.63 and a 1 year high of $89.68. The company has a market cap of $3.78 billion, a P/E ratio of 90.17, a price-to-earnings-growth ratio of 5.10 and a beta of 1.10. The business's 50 day moving average is $62.27 and its two-hundred day moving average is $68.03.

Power Integrations (NASDAQ:POWI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. Power Integrations had a net margin of 10.38% and a return on equity of 4.86%. The firm had revenue of $106.20 million for the quarter, compared to the consensus estimate of $105.02 million. During the same period in the prior year, the firm posted $0.27 earnings per share. The company's revenue for the quarter was down 13.8% on a year-over-year basis. On average, equities analysts anticipate that Power Integrations, Inc. will post 0.59 EPS for the current fiscal year.

Power Integrations Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, August 30th. Power Integrations's payout ratio is 106.67%.

Insider Transactions at Power Integrations

In other news, VP Sunil Gupta sold 2,127 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total value of $140,169.30. Following the sale, the vice president now directly owns 51,899 shares of the company's stock, valued at approximately $3,420,144.10. This represents a 0.00 % 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. Over the last ninety days, insiders have sold 2,398 shares of company stock valued at $157,847. 1.50% of the stock is currently owned by corporate insiders.

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.