Covestor Ltd Sells 196 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Covestor Ltd reduced its position in Power Integrations, Inc. (NASDAQ:POWI) by 12.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,385 shares of the semiconductor company’s stock after selling 196 shares during the quarter. Covestor Ltd’s holdings in Power Integrations were worth $89,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in POWI. Van ECK Associates Corp boosted its position in Power Integrations by 55.6% during the third quarter. Van ECK Associates Corp now owns 34,431 shares of the semiconductor company’s stock worth $2,138,000 after purchasing an additional 12,297 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Power Integrations by 14.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 60,320 shares of the semiconductor company’s stock valued at $4,316,000 after buying an additional 7,584 shares in the last quarter. Capital International Investors lifted its holdings in shares of Power Integrations by 6.5% in the first quarter. Capital International Investors now owns 1,316,934 shares of the semiconductor company’s stock worth $94,227,000 after buying an additional 80,775 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Power Integrations by 25.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 43,275 shares of the semiconductor company’s stock valued at $3,095,000 after acquiring an additional 8,864 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Power Integrations during the second quarter valued at approximately $699,000.

Insider Activity at Power Integrations

In other Power Integrations news, VP Sunil Gupta sold 2,127 shares of the firm’s stock in a transaction on 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 $3,420,144.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Doug Bailey sold 8,549 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $64.96, for a total transaction of $555,343.04. Following the completion of the transaction, the vice president now owns 86,375 shares in the company, valued at $5,610,920. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sunil Gupta sold 2,127 shares of Power Integrations stock in a transaction on 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 owns 51,899 shares in the company, valued at approximately $3,420,144.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,947 shares of company stock worth $713,190 in the last three months. 1.70% of the stock is owned by insiders.

Power Integrations Stock Down 1.0 %

Power Integrations stock opened at $63.33 on Thursday. The firm has a fifty day simple moving average of $62.33 and a two-hundred day simple moving average of $67.99. Power Integrations, Inc. has a twelve month low of $56.63 and a twelve month high of $89.68. The company has a market capitalization of $3.60 billion, a PE ratio of 95.96, a P/E/G ratio of 6.68 and a beta of 1.10.

Power Integrations (NASDAQ:POWI) last released its 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. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The company had revenue of $115.84 million during the quarter, compared to analyst estimates of $114.83 million. During the same quarter in the previous year, the company posted $0.35 EPS. Power Integrations’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, equities analysts expect that Power Integrations, Inc. will post 0.56 earnings per share for the current fiscal year.

Power Integrations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.21 dividend. This is a boost from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 29th. This represents a $0.84 annualized dividend and a dividend yield of 1.33%. Power Integrations’s dividend payout ratio (DPR) is currently 121.21%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on POWI shares. Northland Securities raised 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. Northland Capmk upgraded shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Susquehanna cut their target price on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $95.00 price target (down previously from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.