Power Integrations, Inc. (NASDAQ:POWI) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 214.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,860 shares of the semiconductor company’s stock after buying an additional 28,548 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Power Integrations were worth $2,684,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Power Integrations by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 6,528,564 shares of the semiconductor company’s stock valued at $467,119,000 after acquiring an additional 105,034 shares during the last quarter. Bessemer Group Inc. lifted its position in Power Integrations by 5.3% in the first quarter. Bessemer Group Inc. now owns 6,503 shares of the semiconductor company’s stock valued at $466,000 after buying an additional 326 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Power Integrations by 25.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 43,275 shares of the semiconductor company’s stock worth $3,095,000 after buying an additional 8,864 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of Power Integrations during the first quarter valued at about $559,000. Finally, Tidal Investments LLC purchased a new stake in Power Integrations in the first quarter valued at approximately $632,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on POWI. Susquehanna reduced their price target on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a research report on Thursday, November 7th. Northland Capmk upgraded shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Northland Securities upgraded Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Monday, August 12th. Finally, Benchmark reaffirmed a “buy” rating and set a $78.00 price objective on shares of Power Integrations in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Power Integrations Stock Up 2.0 %

NASDAQ:POWI opened at $63.68 on Monday. 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 $62.73 and its 200 day moving average price is $67.60. The company has a market capitalization of $3.62 billion, a PE ratio of 96.49, a P/E/G ratio of 6.76 and a beta of 1.10.

Power Integrations (NASDAQ:POWI) last announced its 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 business had revenue of $115.84 million during the quarter, compared to analysts’ expectations of $114.83 million. During the same period in the prior year, the company earned $0.35 earnings per share. The business’s revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Power Integrations, Inc. will post 0.54 EPS for the current fiscal year.

Power Integrations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.32%. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 29th. Power Integrations’s dividend payout ratio (DPR) is 121.21%.

Insiders Place Their Bets

In other news, VP Doug Bailey sold 8,549 shares of the 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 directly owns 86,375 shares of the company’s stock, valued at approximately $5,610,920. This represents a 9.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Sunil Gupta sold 2,127 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $65.90, for a total transaction of $140,169.30. Following the sale, the vice president now owns 51,899 shares in the company, valued at $3,420,144.10. The trade was a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,782 shares of company stock worth $702,135. 1.70% of the stock is 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.