Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,100 shares of the semiconductor company’s stock, valued at approximately $389,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. QRG Capital Management Inc. purchased a new position in shares of Power Integrations during the third quarter valued at approximately $273,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Power Integrations by 28.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 10,294 shares of the semiconductor company’s stock valued at $785,000 after buying an additional 2,305 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Power Integrations by 5.6% during the third quarter. PNC Financial Services Group Inc. now owns 7,154 shares of the semiconductor company’s stock valued at $546,000 after buying an additional 377 shares during the period. Loomis Sayles & Co. L P raised its stake in Power Integrations by 1.3% during the third quarter. Loomis Sayles & Co. L P now owns 360,015 shares of the semiconductor company’s stock worth $27,472,000 after purchasing an additional 4,588 shares during the period. Finally, William Blair Investment Management LLC raised its stake in Power Integrations by 24.9% during the third quarter. William Blair Investment Management LLC now owns 250,477 shares of the semiconductor company’s stock worth $19,114,000 after purchasing an additional 50,003 shares during the period.
Analysts Set New Price Targets
A number of research firms have weighed in on POWI. Northland Securities raised shares of Power Integrations from an “under perform” rating to a “market perform” rating and set a $67.00 price target on the stock in a research note on Monday. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Stifel Nicolaus increased their price target on shares of Power Integrations from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Benchmark increased their price objective on shares of Power Integrations from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Susquehanna raised their price target on shares of Power Integrations from $80.00 to $100.00 and gave the company a “positive” rating in a report on Monday, December 18th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Power Integrations currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.17.
View Our Latest Analysis on Power Integrations
Power Integrations Trading Up 0.3 %
POWI opened at $70.43 on Thursday. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 72.61 and a beta of 1.25. The company has a fifty day simple moving average of $77.58 and a 200 day simple moving average of $77.59. Power Integrations, Inc. has a twelve month low of $66.90 and a twelve month high of $99.60.
Power Integrations Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, February 29th will be given a $0.20 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.80 annualized dividend and a yield of 1.14%. Power Integrations’s dividend payout ratio is presently 82.47%.
Insider Activity at Power Integrations
In other Power Integrations news, VP Doug Bailey sold 423 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $74.98, for a total transaction of $31,716.54. Following the transaction, the vice president now owns 98,863 shares of the company’s stock, valued at approximately $7,412,747.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Power Integrations news, CEO Balu Balakrishnan sold 5,746 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $73.39, for a total transaction of $421,698.94. Following the transaction, the chief executive officer now owns 513,693 shares of the company’s stock, valued at approximately $37,699,929.27. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Doug Bailey sold 423 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $74.98, for a total transaction of $31,716.54. Following the transaction, the vice president now directly owns 98,863 shares in the company, valued at approximately $7,412,747.74. The disclosure for this sale can be found here. Insiders have sold a total of 43,417 shares of company stock worth $3,241,329 in the last ninety days. 1.70% of the stock is owned by insiders.
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.
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