Townsquare Capital LLC Increases Position in Power Integrations, Inc. (NASDAQ:POWI)

Townsquare Capital LLC increased its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 6.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,921 shares of the semiconductor company’s stock after purchasing an additional 1,428 shares during the quarter. Townsquare Capital LLC’s holdings in Power Integrations were worth $1,598,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of POWI. Copeland Capital Management LLC raised its stake in shares of Power Integrations by 21.5% during the 3rd quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company’s stock worth $77,401,000 after buying an additional 213,392 shares during the period. M&G PLC purchased a new stake in Power Integrations in the 3rd quarter worth $9,820,000. D. E. Shaw & Co. Inc. raised its position in Power Integrations by 40.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 457,470 shares of the semiconductor company’s stock worth $32,110,000 after acquiring an additional 131,735 shares during the period. Millennium Management LLC lifted its holdings in Power Integrations by 23.4% during the second quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock valued at $41,634,000 after purchasing an additional 112,595 shares in the last quarter. Finally, Congress Asset Management Co. grew its position in shares of Power Integrations by 18.4% in the third quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company’s stock valued at $39,875,000 after purchasing an additional 96,609 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on POWI shares. Northland Capmk raised shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Susquehanna decreased 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 reiterated a “buy” rating and set a $78.00 price target on shares of Power Integrations in a research report on Friday, November 8th. Stifel Nicolaus restated a “buy” rating and issued a $95.00 price objective (down previously from $100.00) on shares of Power Integrations in a report on Monday, August 5th. Finally, TD Cowen dropped their target price on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. 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. Based on data from MarketBeat.com, Power Integrations presently has an average rating of “Moderate Buy” and an average price target of $78.00.

Power Integrations Stock Up 1.1 %

Shares of NASDAQ:POWI opened at $65.51 on Monday. Power Integrations, Inc. has a 52-week low of $56.63 and a 52-week high of $89.68. The stock has a market cap of $3.73 billion, a P/E ratio of 99.26, a PEG ratio of 7.09 and a beta of 1.10. The business has a fifty day moving average of $63.34 and a two-hundred day moving average of $67.28.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data 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 net margin of 9.27% and a return on equity of 4.14%. The firm had revenue of $115.84 million during the quarter, compared to analyst estimates of $114.83 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Power Integrations’s quarterly revenue was down 7.7% on a year-over-year basis. On average, equities analysts anticipate that Power Integrations, Inc. will post 0.54 earnings per share for the current year.

Power Integrations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Friday, November 29th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s payout ratio is presently 121.21%.

Insider Activity at Power Integrations

In other Power Integrations news, VP Doug Bailey sold 8,549 shares of Power Integrations stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $64.96, for a total transaction of $555,343.04. Following the completion of the sale, the vice president now directly owns 86,375 shares in the company, valued at $5,610,920. This trade represents a 9.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Clifford Walker sold 10,000 shares of the company’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 completion of the transaction, the vice president now owns 130,934 shares in the company, valued at approximately $8,426,912.24. This represents a 7.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,655 shares of company stock worth $1,205,566. Insiders own 1.70% of the company’s stock.

Power Integrations Company 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.