Ceredex Value Advisors LLC Sells 93,642 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Ceredex Value Advisors LLC lessened its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 12.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 662,640 shares of the semiconductor company's stock after selling 93,642 shares during the period. Ceredex Value Advisors LLC owned about 1.17% of Power Integrations worth $42,488,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Power Integrations by 69.8% during the second quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 150 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Power Integrations during the 1st quarter valued at $55,000. Mather Group LLC. lifted its holdings in shares of Power Integrations by 22.8% in the second quarter. Mather Group LLC. now owns 868 shares of the semiconductor company's stock valued at $62,000 after purchasing an additional 161 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Power Integrations in the second quarter worth $63,000. Finally, Quest Partners LLC grew its holdings in shares of 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 in the last quarter.

Power Integrations Price Performance

Shares of POWI stock traded up $2.40 on Friday, hitting $62.83. The company's stock had a trading volume of 360,825 shares, compared to its average volume of 264,818. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 83.77, a P/E/G ratio of 4.85 and a beta of 1.10. Power Integrations, Inc. has a fifty-two week low of $56.63 and a fifty-two week high of $89.68. The firm's fifty day moving average price is $62.34 and its 200-day moving average price is $68.00.

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 for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. Power Integrations had a return on equity of 4.86% and a net margin of 10.38%. The company had revenue of $106.20 million during the quarter, compared to analysts' expectations of $105.02 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business's quarterly revenue was down 13.8% compared to the same quarter last year. Analysts predict that Power Integrations, Inc. will post 0.59 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 30th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, August 30th. Power Integrations's dividend payout ratio is 106.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on POWI. Susquehanna reduced their price objective on Power Integrations from $95.00 to $80.00 and set a "positive" rating for the company in a research note on Thursday, August 8th. Benchmark restated a "buy" rating and set a $78.00 price target on shares of Power Integrations in a report on Wednesday, September 11th. Northland Capmk upgraded shares of Power Integrations from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 12th. TD Cowen decreased their target price on shares of Power Integrations from $80.00 to $70.00 and set a "hold" rating for the company in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Power Integrations from $73.00 to $68.00 and set a "hold" rating for the company in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $78.50.

Insider Transactions at Power Integrations

In related news, VP Sunil Gupta sold 2,127 shares of Power Integrations 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 transaction, the vice president now owns 51,899 shares in the company, valued at $3,420,144.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.70% of the stock is owned by corporate insiders.

Power Integrations Company 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.