Public Employees Retirement System of Ohio Purchases Shares of 33,197 Power Integrations, Inc. $POWI

Public Employees Retirement System of Ohio purchased a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI) during the 2nd quarter, HoldingsChannel reports. The fund purchased 33,197 shares of the semiconductor company’s stock, valued at approximately $2,781,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Power Integrations during the second quarter valued at about $730,559,000. William Blair Investment Management LLC bought a new stake in Power Integrations in the second quarter worth about $199,517,000. Snyder Capital Management L P grew its position in Power Integrations by 148.8% in the fourth quarter. Snyder Capital Management L P now owns 2,064,707 shares of the semiconductor company’s stock worth $73,380,000 after buying an additional 1,234,981 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Power Integrations by 1,885.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 943,365 shares of the semiconductor company’s stock worth $33,528,000 after purchasing an additional 895,857 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Power Integrations by 35.7% during the third quarter. Wellington Management Group LLP now owns 2,261,281 shares of the semiconductor company’s stock valued at $90,926,000 after purchasing an additional 595,404 shares during the last quarter.

Wall Street Analysts Forecast Growth

POWI has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Power Integrations from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Needham & Company LLC reduced their price objective on shares of Power Integrations from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Stifel Nicolaus decreased their target price on shares of Power Integrations from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Wall Street Zen raised Power Integrations from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Williams Trading set a $80.00 price target on Power Integrations in a report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.67.

Power Integrations Stock Down 0.2%

POWI stock opened at $50.45 on Friday. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 112.11 and a beta of 1.54. Power Integrations, Inc. has a 12 month low of $30.86 and a 12 month high of $91.18. The firm has a 50 day moving average of $63.52 and a two-hundred day moving average of $63.44.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Power Integrations had a net margin of 5.58% and a return on equity of 5.50%. The business had revenue of $118.94 million for the quarter, compared to the consensus estimate of $117.44 million. During the same quarter last year, the firm earned $0.35 EPS. Power Integrations’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, research analysts expect that Power Integrations, Inc. will post 0.77 EPS for the current fiscal year.

Power Integrations Company Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.