Assetmark Inc. Grows Stake in Power Integrations, Inc. (NASDAQ:POWI)

Assetmark Inc. lifted its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,904 shares of the semiconductor company’s stock after purchasing an additional 1,207 shares during the period. Assetmark Inc.’s holdings in Power Integrations were worth $1,084,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Power Integrations by 1.6% in the first quarter. Vanguard Group Inc. now owns 6,528,564 shares of the semiconductor company’s stock worth $467,119,000 after buying an additional 105,034 shares during the last quarter. Capital International Investors increased its holdings in Power Integrations by 6.5% in the 1st quarter. Capital International Investors now owns 1,316,934 shares of the semiconductor company’s stock worth $94,227,000 after acquiring an additional 80,775 shares during the last quarter. Copeland Capital Management LLC raised its stake in Power Integrations by 21.5% in the 3rd quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company’s stock valued at $77,401,000 after acquiring an additional 213,392 shares during the period. Ceredex Value Advisors LLC lifted its holdings in Power Integrations by 4.8% during the second quarter. Ceredex Value Advisors LLC now owns 756,282 shares of the semiconductor company’s stock valued at $53,083,000 after purchasing an additional 34,400 shares during the last quarter. Finally, Congress Asset Management Co. boosted 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 purchasing an additional 96,609 shares during the period.

Power Integrations Stock Performance

Shares of POWI stock opened at $62.11 on Friday. The company has a market capitalization of $3.53 billion, a PE ratio of 94.11, a price-to-earnings-growth ratio of 6.68 and a beta of 1.10. Power Integrations, Inc. has a 52-week low of $56.63 and a 52-week high of $89.68. The business’s fifty day moving average is $62.38 and its 200 day moving average is $67.95.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The firm had revenue of $115.84 million during the quarter, compared to the consensus estimate of $114.83 million. During the same quarter last year, the company posted $0.35 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, sell-side analysts forecast that Power Integrations, Inc. will post 0.56 EPS for the current fiscal 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 $0.21 dividend. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.35%. Power Integrations’s dividend payout ratio is presently 127.27%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on POWI. Northland Capmk upgraded shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Susquehanna dropped their target price on Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a research report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $78.00 price target on shares of Power Integrations in a report on Friday, November 8th. StockNews.com upgraded Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $95.00 target price (down previously from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. Three 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.00.

Insider Activity

In related news, VP Doug Bailey sold 8,549 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $64.96, for a total transaction of $555,343.04. Following the transaction, the vice president now directly owns 86,375 shares of the company’s stock, valued at approximately $5,610,920. This trade represents a 9.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Sunil Gupta sold 2,127 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $65.90, for a total value of $140,169.30. Following the completion of the sale, the vice president now directly owns 51,899 shares of the company’s stock, valued at approximately $3,420,144.10. This represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,947 shares of company stock worth $713,190. 1.70% of the stock is currently owned by corporate 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.