JPMorgan Chase & Co. Trims Position in Power Integrations, Inc. (NASDAQ:POWI)

JPMorgan Chase & Co. decreased its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 7.6% in the third quarter, HoldingsChannel.com reports. The fund owned 1,741,563 shares of the semiconductor company’s stock after selling 143,472 shares during the period. JPMorgan Chase & Co.’s holdings in Power Integrations were worth $111,669,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Truvestments Capital LLC bought a new position in Power Integrations in the 3rd quarter worth $87,000. Quest Partners LLC increased its position in shares of Power Integrations by 23.5% during the second quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company’s stock valued at $88,000 after buying an additional 240 shares during the period. KBC Group NV lifted its holdings in Power Integrations by 32.0% in the third quarter. KBC Group NV now owns 1,782 shares of the semiconductor company’s stock worth $114,000 after buying an additional 432 shares during the period. First Horizon Advisors Inc. boosted its position in Power Integrations by 10.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,196 shares of the semiconductor company’s stock valued at $141,000 after acquiring an additional 205 shares in the last quarter. Finally, Heritage Family Offices LLP bought a new stake in Power Integrations during the 3rd quarter valued at approximately $202,000.

Insider Activity

In other 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 transaction, the vice president now directly owns 130,934 shares of the company’s stock, valued at $8,426,912.24. This represents a 7.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Doug Bailey sold 8,549 shares of Power Integrations 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 sale, the vice president now directly owns 86,375 shares of the company’s stock, valued at $5,610,920. The trade was a 9.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,655 shares of company stock valued at $1,205,566 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on POWI shares. Susquehanna dropped their price target 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 restated a “buy” rating and set a $78.00 target price on shares of Power Integrations in a report on Friday, November 8th. Finally, StockNews.com upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Power Integrations Price Performance

Shares of Power Integrations stock opened at $61.70 on Thursday. Power Integrations, Inc. has a 1 year low of $56.63 and a 1 year high of $85.00. The firm’s 50-day moving average is $63.72 and its 200 day moving average is $65.31. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 93.49, a PEG ratio of 7.01 and a beta of 1.12.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 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 for the quarter, compared to analysts’ expectations of $114.83 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities analysts expect that Power Integrations, Inc. will post 0.54 EPS for the current fiscal year.

Power Integrations Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.84 annualized dividend and a dividend yield of 1.36%. This is a boost from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s payout ratio is currently 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.