Power Integrations, Inc. (NASDAQ:POWI) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in Power Integrations, Inc. (NASDAQ:POWI) by 5.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 25,985 shares of the semiconductor company’s stock after selling 1,595 shares during the period. Amalgamated Bank’s holdings in Power Integrations were worth $1,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Power Integrations by 69.8% in the 2nd quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 150 shares during the period. Mather Group LLC. grew its position in Power Integrations by 22.8% during the 2nd 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 period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Power Integrations during the 2nd quarter worth about $63,000. Quest Partners LLC grew 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 purchasing an additional 240 shares during the period. Finally, Covestor Ltd grew its position in Power Integrations by 16.3% during the 1st 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 period.

Power Integrations Stock Down 1.7 %

NASDAQ:POWI opened at $63.98 on Wednesday. The stock has a market capitalization of $3.64 billion, a PE ratio of 96.94, a price-to-earnings-growth ratio of 5.33 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 stock’s 50-day moving average price is $62.28 and its 200-day moving average price is $68.02.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $115.84 million for the quarter, compared to analyst estimates of $114.83 million. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. Power Integrations’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. Sell-side analysts expect that Power Integrations, Inc. will post 0.59 earnings per share 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. Investors of record on Friday, November 29th will be paid a $0.21 dividend. The ex-dividend date is Friday, November 29th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 1.31%. Power Integrations’s dividend payout ratio (DPR) is currently 121.21%.

Insider Activity at Power Integrations

In related news, VP Sunil Gupta sold 2,127 shares of the firm’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 transaction, the vice president now directly owns 51,899 shares of the company’s stock, valued at approximately $3,420,144.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 2,398 shares of company stock valued at $157,847. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. 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. Benchmark reaffirmed a “buy” rating and set a $78.00 price target on shares of Power Integrations in a research report on Friday, November 8th. Northland Capmk raised Power Integrations from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. TD Cowen cut their price target on Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus restated a “buy” rating and set a $95.00 target price (down from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Three 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.00.

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.