Algert Global LLC Has $1.98 Million Position in Power Integrations, Inc. (NASDAQ:POWI)

Algert Global LLC lessened its stake in Power Integrations, Inc. (NASDAQ:POWI) by 54.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 30,922 shares of the semiconductor company’s stock after selling 36,620 shares during the period. Algert Global LLC’s holdings in Power Integrations were worth $1,983,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of POWI. Copeland Capital Management LLC lifted its holdings in Power Integrations by 21.5% in the third quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company’s stock valued at $77,401,000 after buying an additional 213,392 shares during the period. Ceredex Value Advisors LLC raised its position in shares of Power Integrations by 4.8% during the 2nd quarter. Ceredex Value Advisors LLC now owns 756,282 shares of the semiconductor company’s stock valued at $53,083,000 after acquiring an additional 34,400 shares during the last quarter. Congress Asset Management Co. lifted its stake in shares of Power Integrations by 18.4% in the 3rd quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company’s stock valued at $39,875,000 after purchasing an additional 96,609 shares during the period. Millennium Management LLC boosted its position in shares of Power Integrations by 23.4% in the 2nd quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock worth $41,634,000 after purchasing an additional 112,595 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its stake in shares of Power Integrations by 2.6% during the third quarter. Stephens Investment Management Group LLC now owns 567,477 shares of the semiconductor company’s stock worth $36,387,000 after purchasing an additional 14,306 shares during the period.

Power Integrations Stock Down 1.4 %

Shares of NASDAQ:POWI opened at $64.77 on Thursday. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 98.14, a PEG ratio of 7.37 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 company’s fifty day simple moving average is $63.05 and its 200 day simple moving average is $67.46.

Power Integrations (NASDAQ:POWI) last issued its quarterly 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. The company had revenue of $115.84 million for the quarter, compared to analyst estimates of $114.83 million. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 earnings per share. Research analysts expect that Power Integrations, Inc. will post 0.54 earnings per share for the current fiscal year.

Power Integrations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.21 per share. 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 yield of 1.30%. Power Integrations’s dividend payout ratio is presently 127.27%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on POWI shares. Northland Capmk upgraded Power Integrations from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and issued a $78.00 target price on shares of Power Integrations in a research note on Friday, November 8th. Stifel Nicolaus reissued a “buy” rating and set a $95.00 price target (down from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Power Integrations presently has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Insider Activity at Power Integrations

In other Power Integrations news, VP Doug Bailey sold 8,549 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $64.96, for a total value of $555,343.04. Following the completion of the sale, the vice president now owns 86,375 shares in the company, valued at $5,610,920. This trade represents a 9.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.70% of the stock is owned by insiders.

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.