New York State Teachers Retirement System Sells 200 Shares of Power Integrations, Inc. (NASDAQ:POWI)

New York State Teachers Retirement System decreased its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 0.8% during the third quarter, HoldingsChannel reports. The fund owned 23,745 shares of the semiconductor company’s stock after selling 200 shares during the quarter. New York State Teachers Retirement System’s holdings in Power Integrations were worth $1,523,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Power Integrations by 69.8% in 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 last quarter. Mather Group LLC. grew its holdings in shares of Power Integrations by 22.8% in the second quarter. Mather Group LLC. now owns 868 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 161 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Power Integrations in the second quarter worth about $63,000. Quest Partners LLC grew its holdings in shares of Power Integrations by 23.5% in the second quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 240 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Power Integrations by 16.3% in the first quarter. Covestor Ltd now owns 1,581 shares of the semiconductor company’s stock worth $113,000 after purchasing an additional 222 shares during the last quarter.

Analysts Set New Price Targets

POWI has been the subject of a number of research reports. Northland Capmk raised shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Northland Securities raised shares of Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Monday, August 12th. TD Cowen lowered their price objective on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Susquehanna lowered their price objective on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a research note on Thursday. Finally, Benchmark reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Power Integrations in a research note on Friday. Three 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 MarketBeat.com, Power Integrations presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.00.

Power Integrations Stock Performance

POWI stock opened at $66.31 on Friday. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 100.47, a PEG ratio of 5.34 and a beta of 1.10. The firm has a 50-day simple moving average of $62.29 and a two-hundred day simple moving average of $68.02. Power Integrations, Inc. has a one year low of $56.63 and a one year high of $89.68.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. The business had revenue of $106.20 million during the quarter, compared to analyst estimates of $105.02 million. Power Integrations had a net margin of 9.27% and a return on equity of 4.15%. The company’s quarterly revenue was down 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 earnings per share. As a group, equities analysts predict that Power Integrations, Inc. will post 0.59 earnings per share for the current fiscal year.

Power Integrations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 1.27%. 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. Power Integrations’s dividend payout ratio is presently 121.21%.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, VP Sunil Gupta sold 2,127 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total transaction 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 2,398 shares of company stock valued at $157,847. 1.70% of the stock is currently owned by insiders.

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.