Verition Fund Management LLC Raises Stock Position in Power Integrations, Inc. (NASDAQ:POWI)

Verition Fund Management LLC lifted its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 299.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 48,340 shares of the semiconductor company's stock after purchasing an additional 36,228 shares during the period. Verition Fund Management LLC owned about 0.09% of Power Integrations worth $3,100,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake 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 purchasing an additional 150 shares during the period. Mather Group LLC. boosted its position in Power Integrations by 22.8% during the 2nd 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. purchased a new stake in Power Integrations during the 2nd quarter valued at $63,000. Truvestments Capital LLC bought a new stake in Power Integrations in the 3rd quarter worth $87,000. Finally, Quest Partners LLC increased its position in shares of Power Integrations by 23.5% in the second quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company's stock valued at $88,000 after acquiring an additional 240 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Northland Securities upgraded shares of Power Integrations from a "market perform" rating to an "outperform" rating and set a $80.00 target price for the company in a report on Monday, August 12th. TD Cowen reduced their target price on Power Integrations from $80.00 to $70.00 and set a "hold" rating on the stock in a research note on Wednesday, August 7th. StockNews.com raised Power Integrations from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Power Integrations from $73.00 to $68.00 and set a "hold" rating on the stock in a research report on Wednesday, August 7th. Finally, Susquehanna decreased their price objective on shares of Power Integrations from $80.00 to $77.00 and set a "positive" rating for the company in a report on Thursday, November 7th. Three equities research 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $78.00.

Insider Transactions at Power Integrations

In other Power Integrations news, VP Clifford Walker sold 10,000 shares of the stock in a transaction 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 approximately $8,426,912.24. This trade represents a 7.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Doug Bailey sold 8,549 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $64.96, for a total value of $555,343.04. Following the completion of the transaction, the vice president now owns 86,375 shares of the company's stock, valued at $5,610,920. This represents a 9.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,655 shares of company stock valued at $1,205,566 in the last quarter. 1.70% of the stock is owned by insiders.

Power Integrations Stock Down 1.9 %

Shares of POWI stock traded down $1.20 during mid-day trading on Thursday, reaching $62.69. 125,079 shares of the company's stock traded hands, compared to its average volume of 406,141. The company's 50-day moving average price is $63.63 and its 200-day moving average price is $67.03. The company has a market cap of $3.57 billion, a P/E ratio of 96.80, a P/E/G ratio of 7.16 and a beta of 1.12. Power Integrations, Inc. has a 12 month low of $56.63 and a 12 month high of $89.68.

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 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 business had revenue of $115.84 million for the quarter, compared to analysts' expectations of $114.83 million. During the same quarter in the prior year, the company earned $0.35 earnings per share. The business's revenue was down 7.7% compared to the same quarter last year. Equities analysts predict that Power Integrations, Inc. will post 0.54 earnings per share for the current year.

Power Integrations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, November 29th. This is an increase 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 dividend payout ratio (DPR) is presently 127.27%.

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.