Algert Global LLC Sells 36,620 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Algert Global LLC reduced its stake in Power Integrations, Inc. (NASDAQ:POWI) by 54.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,922 shares of the semiconductor company’s stock after selling 36,620 shares during the quarter. Algert Global LLC owned approximately 0.05% of Power Integrations worth $1,983,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in POWI. Citigroup Inc. lifted its stake in shares of Power Integrations by 158.4% in the third quarter. Citigroup Inc. now owns 56,612 shares of the semiconductor company’s stock worth $3,630,000 after buying an additional 34,707 shares during the last quarter. Intech Investment Management LLC acquired a new position in Power Integrations during the 3rd quarter worth $983,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Power Integrations by 10.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 257,823 shares of the semiconductor company’s stock valued at $16,531,000 after acquiring an additional 23,405 shares during the period. First Horizon Advisors Inc. grew its position in shares of Power Integrations by 10.3% in the third quarter. First Horizon Advisors Inc. now owns 2,196 shares of the semiconductor company’s stock valued at $141,000 after purchasing an additional 205 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Power Integrations by 60.2% in the third quarter. Advisors Asset Management Inc. now owns 10,451 shares of the semiconductor company’s stock worth $670,000 after purchasing an additional 3,926 shares during the period.

Insider Activity at Power Integrations

In other news, VP Doug Bailey sold 8,549 shares of the stock in a transaction 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 sale, the vice president now owns 86,375 shares in the company, valued at approximately $5,610,920. This represents a 9.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by insiders.

Power Integrations Stock Down 1.4 %

Shares of POWI opened at $64.77 on Thursday. The company has a 50-day moving average price of $63.05 and a two-hundred day moving average price of $67.46. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 98.14, a P/E/G 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.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The business had revenue of $115.84 million during the quarter, compared to the consensus estimate of $114.83 million. During the same quarter last year, the company earned $0.35 EPS. Power Integrations’s revenue was down 7.7% on a year-over-year basis. Equities research analysts expect that Power Integrations, Inc. will post 0.54 EPS 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. Investors of record on Friday, November 29th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.30%. This is a boost from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s dividend payout ratio (DPR) is 127.27%.

Wall Street Analysts Forecast Growth

POWI has been the topic of a number of research analyst reports. Susquehanna lowered their target price on Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a report on Thursday, November 7th. Benchmark reiterated a “buy” rating and set a $78.00 target price on shares of Power Integrations in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $95.00 price objective (down previously from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Finally, Northland Securities raised Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Power Integrations presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.00.

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.