Assetmark Inc. Acquires 1,207 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Assetmark Inc. raised its stake in Power Integrations, Inc. (NASDAQ:POWI) by 7.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,904 shares of the semiconductor company’s stock after acquiring an additional 1,207 shares during the quarter. Assetmark Inc.’s holdings in Power Integrations were worth $1,084,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp boosted its position in Power Integrations by 55.6% in the third quarter. Van ECK Associates Corp now owns 34,431 shares of the semiconductor company’s stock valued at $2,138,000 after buying an additional 12,297 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of 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 acquiring an additional 7,584 shares in the last quarter. Capital International Investors grew its position in Power Integrations by 6.5% during the 1st quarter. Capital International Investors now owns 1,316,934 shares of the semiconductor company’s stock worth $94,227,000 after acquiring an additional 80,775 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Power Integrations by 25.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 43,275 shares of the semiconductor company’s stock worth $3,095,000 after purchasing an additional 8,864 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Power Integrations in the second quarter valued at about $699,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on POWI shares. TD Cowen reduced their price target on Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their price target 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. StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 price objective (down from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. Finally, Susquehanna reduced their price objective on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.00.

Insider Activity 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 value 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 3.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Doug Bailey sold 8,549 shares of the business’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 value 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. The trade was a 9.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,947 shares of company stock valued at $713,190. 1.70% of the stock is owned by insiders.

Power Integrations Stock Performance

Shares of NASDAQ:POWI opened at $62.11 on Friday. Power Integrations, Inc. has a 52-week low of $56.63 and a 52-week high of $89.68. The business’s 50 day simple moving average is $62.38 and its two-hundred day simple moving average is $67.95. The firm has a market cap of $3.53 billion, a P/E ratio of 94.11, a PEG ratio of 6.68 and a beta of 1.10.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share for the quarter, topping 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 net margin of 9.27% and a return on equity of 4.14%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. On average, equities analysts forecast that Power Integrations, Inc. will post 0.56 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 issued a dividend of $0.21 per share. The ex-dividend date is Friday, November 29th. This represents a $0.84 annualized dividend and a yield of 1.35%. This is an increase from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s dividend payout ratio is 127.27%.

About Power Integrations

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.