Handelsbanken Fonder AB Buys 7,300 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Handelsbanken Fonder AB lifted its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 56.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,202 shares of the semiconductor company’s stock after acquiring an additional 7,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Power Integrations were worth $1,295,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC boosted its position in Power Integrations by 69.8% during the second quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 150 shares during the period. Mather Group LLC. bought a new stake in shares of Power Integrations during the 1st quarter worth $51,000. Fidelis Capital Partners LLC acquired a new position in Power Integrations in the 1st quarter valued at $55,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Power Integrations in the 2nd quarter worth $63,000. Finally, Quest Partners LLC lifted its position in Power Integrations by 23.5% during the 2nd quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 240 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on POWI shares. Northland Capmk raised Power Integrations from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Northland Securities raised Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Monday, August 12th. Susquehanna reduced their price objective on Power Integrations from $95.00 to $80.00 and set a “positive” rating for the company in a research report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $78.00 price objective on shares of Power Integrations in a research note on Wednesday, September 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $95.00 target price (down from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Power Integrations currently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

Insider Buying and Selling at Power Integrations

In other news, VP Sunil Gupta sold 2,127 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total value of $140,169.30. Following the sale, the vice president now owns 51,899 shares of the company’s stock, valued at approximately $3,420,144.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

Power Integrations Trading Up 2.2 %

Shares of POWI stock opened at $63.78 on Friday. The company has a market capitalization of $3.62 billion, a P/E ratio of 85.04, a P/E/G ratio of 5.08 and a beta of 1.10. Power Integrations, Inc. has a 12 month low of $56.63 and a 12 month high of $89.68. The stock has a 50 day moving average of $62.40 and a two-hundred day moving average of $68.66.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $106.20 million during the quarter, compared to the consensus estimate of $105.02 million. Power Integrations had a net margin of 10.38% and a return on equity of 4.86%. The firm’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. Sell-side analysts predict that Power Integrations, Inc. will post 0.59 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 30th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, August 30th. This represents a $0.80 annualized dividend and a yield of 1.25%. Power Integrations’s dividend payout ratio is currently 106.67%.

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.