Riverbridge Partners LLC Sells 45,302 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Riverbridge Partners LLC reduced its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 517,351 shares of the semiconductor company's stock after selling 45,302 shares during the quarter. Riverbridge Partners LLC owned about 0.91% of Power Integrations worth $31,921,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Versant Capital Management Inc lifted its holdings in Power Integrations by 1,618.2% in the fourth quarter. Versant Capital Management Inc now owns 567 shares of the semiconductor company's stock valued at $35,000 after buying an additional 534 shares during the period. UMB Bank n.a. lifted its holdings in Power Integrations by 43.9% in the fourth quarter. UMB Bank n.a. now owns 629 shares of the semiconductor company's stock valued at $39,000 after buying an additional 192 shares during the period. Truvestments Capital LLC acquired a new position in Power Integrations in the third quarter valued at approximately $87,000. KBC Group NV lifted its holdings in Power Integrations by 32.0% in the third quarter. KBC Group NV now owns 1,782 shares of the semiconductor company's stock valued at $114,000 after buying an additional 432 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in Power Integrations by 10.3% in the third quarter. First Horizon Advisors Inc. now owns 2,196 shares of the semiconductor company's stock valued at $141,000 after buying an additional 205 shares during the period.

Power Integrations Stock Down 0.5 %

Shares of NASDAQ POWI traded down $0.34 during mid-day trading on Thursday, reaching $62.59. 177,380 shares of the company were exchanged, compared to its average volume of 395,395. The company's 50-day simple moving average is $63.05 and its 200-day simple moving average is $64.33. The stock has a market capitalization of $3.56 billion, a P/E ratio of 94.83, a P/E/G ratio of 4.13 and a beta of 1.12. Power Integrations, Inc. has a twelve month low of $56.63 and a twelve month high of $85.00.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 last year, the company posted $0.35 EPS. Power Integrations's quarterly revenue was down 7.7% compared to the same quarter last year. As a group, equities research analysts expect that Power Integrations, Inc. will post 0.54 EPS for the current year.

Power Integrations Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, November 29th. This is a boost from Power Integrations's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 1.34%. Power Integrations's payout ratio is presently 127.27%.

Insider Activity

In other Power Integrations news, VP Doug Bailey sold 8,549 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were 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 of the company's stock, valued at $5,610,920. The trade was a 9.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Clifford Walker sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $64.36, for a total transaction of $643,600.00. Following the sale, the vice president now directly owns 130,934 shares in the company, valued at $8,426,912.24. The trade was a 7.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,655 shares of company stock worth $1,205,566. 1.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on POWI shares. Susquehanna cut their target price on shares of Power Integrations from $80.00 to $77.00 and set a "positive" rating on the stock in a report on Thursday, November 7th. StockNews.com upgraded shares of Power Integrations from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. Finally, Benchmark reiterated a "buy" rating and issued a $78.00 target price on shares of Power Integrations in a report on Friday, November 8th. Three equities research 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $78.00.

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.