Power Integrations, Inc. (NASDAQ:POWI) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 55.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,431 shares of the semiconductor company's stock after purchasing an additional 12,297 shares during the quarter. Van ECK Associates Corp owned 0.06% of Power Integrations worth $2,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Copeland Capital Management LLC boosted its position in Power Integrations by 21.5% during the third quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company's stock worth $77,401,000 after purchasing an additional 213,392 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Power Integrations by 40.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 457,470 shares of the semiconductor company's stock worth $32,110,000 after buying an additional 131,735 shares in the last quarter. Millennium Management LLC increased its holdings in Power Integrations by 23.4% during the 2nd quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company's stock valued at $41,634,000 after acquiring an additional 112,595 shares in the last quarter. Vanguard Group Inc. raised its position in Power Integrations by 1.6% during the first quarter. Vanguard Group Inc. now owns 6,528,564 shares of the semiconductor company's stock worth $467,119,000 after acquiring an additional 105,034 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in Power Integrations by 18.4% during the third quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company's stock worth $39,875,000 after acquiring an additional 96,609 shares during the last quarter.

Wall Street Analysts Forecast Growth

POWI has been the subject of a number of recent research reports. Northland Securities raised shares of Power Integrations from a "market perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a research note on Monday, August 12th. Stifel Nicolaus restated a "buy" rating and issued a $95.00 price objective (down from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft dropped 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. Benchmark restated a "buy" rating and issued a $78.00 target price on shares of Power Integrations in a report on Friday. Finally, Susquehanna reduced their price objective on shares of Power Integrations from $80.00 to $77.00 and set a "positive" rating on the stock in a research note on Thursday. 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $78.00.

Insider Activity

In related news, VP Sunil Gupta sold 2,127 shares of the firm'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 in the company, valued at approximately $3,420,144.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 2,398 shares of company stock valued at $157,847 in the last three months. Corporate insiders own 1.70% of the company's stock.

Power Integrations Stock Down 1.9 %

Shares of POWI traded down $1.25 during mid-day trading on Monday, hitting $65.06. The company had a trading volume of 429,058 shares, compared to its average volume of 408,962. Power Integrations, Inc. has a 1-year low of $56.63 and a 1-year high of $89.68. The business's 50-day simple moving average is $62.29 and its 200-day simple moving average is $68.06. The stock has a market cap of $3.70 billion, a PE ratio of 98.58, a P/E/G ratio of 5.33 and a beta of 1.10.

Power Integrations (NASDAQ:POWI - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $115.84 million during the quarter, compared to analysts' expectations of $114.83 million. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. The business's quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 EPS. On average, sell-side analysts expect that Power Integrations, Inc. will post 0.59 earnings per share for the current year.

Power Integrations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Power Integrations's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 29th. Power Integrations's dividend payout ratio (DPR) is 121.21%.

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.