Power Integrations, Inc. (NASDAQ:POWI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 30.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 133,179 shares of the semiconductor company's stock after selling 59,270 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Power Integrations worth $8,539,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Van ECK Associates Corp increased its position in shares of Power Integrations by 55.6% in the third quarter. Van ECK Associates Corp now owns 34,431 shares of the semiconductor company's stock worth $2,138,000 after acquiring an additional 12,297 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Power Integrations by 14.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 60,320 shares of the semiconductor company's stock worth $4,316,000 after purchasing an additional 7,584 shares in the last quarter. Capital International Investors boosted its position in shares of Power Integrations by 6.5% in the first quarter. Capital International Investors now owns 1,316,934 shares of the semiconductor company's stock worth $94,227,000 after buying an additional 80,775 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Power Integrations by 25.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 43,275 shares of the semiconductor company's stock valued at $3,095,000 after buying an additional 8,864 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Power Integrations in the second quarter valued at about $699,000.

Analyst Upgrades and Downgrades

POWI has been the subject of several recent research reports. 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. Deutsche Bank Aktiengesellschaft dropped 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. Benchmark reissued a "buy" rating and issued a $78.00 price objective on shares of Power Integrations in a research report on Friday, November 8th. Northland Capmk raised Power Integrations from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 12th. Finally, StockNews.com raised Power Integrations from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. Three research 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.00.

Insider Buying and Selling

In other news, VP Doug Bailey sold 8,549 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $64.96, for a total transaction of $555,343.04. Following the sale, the vice president now directly owns 86,375 shares in the company, valued at approximately $5,610,920. This represents a 9.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sunil Gupta sold 2,127 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at $3,420,144.10. This represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,947 shares of company stock worth $713,190 over the last quarter. 1.50% of the stock is owned by company insiders.

Power Integrations Trading Down 0.0 %

Power Integrations stock traded down $0.03 during midday trading on Tuesday, hitting $60.56. The stock had a trading volume of 115,340 shares, compared to its average volume of 408,065. The business has a fifty day moving average price of $62.47 and a 200 day moving average price of $67.86. Power Integrations, Inc. has a 12 month low of $56.63 and a 12 month high of $89.68. The stock has a market cap of $3.44 billion, a P/E ratio of 91.80, a P/E/G ratio of 6.50 and a beta of 1.10.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The business had revenue of $115.84 million for the quarter, compared to analyst estimates of $114.83 million. During the same period in the prior year, the company posted $0.35 EPS. The business's revenue was down 7.7% compared to the same quarter last year. On average, equities analysts anticipate that Power Integrations, Inc. will post 0.54 EPS for the current fiscal year.

Power Integrations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Power Integrations's previous quarterly dividend of $0.20. Power Integrations's dividend payout ratio is currently 121.21%.

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.