First Trust Advisors LP Trims Stock Position in Power Integrations, Inc. $POWI

First Trust Advisors LP cut its stake in Power Integrations, Inc. (NASDAQ:POWI) by 14.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,917 shares of the semiconductor company’s stock after selling 33,819 shares during the quarter. First Trust Advisors LP owned about 0.35% of Power Integrations worth $9,929,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in shares of Power Integrations by 42.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,530 shares of the semiconductor company’s stock valued at $232,000 after buying an additional 1,339 shares during the period. WCM Investment Management LLC bought a new position in Power Integrations in the first quarter worth about $7,514,000. Dimensional Fund Advisors LP lifted its holdings in Power Integrations by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,057,155 shares of the semiconductor company’s stock worth $54,114,000 after buying an additional 71,928 shares during the period. Copeland Capital Management LLC lifted its holdings in Power Integrations by 12.6% in the first quarter. Copeland Capital Management LLC now owns 1,321,789 shares of the semiconductor company’s stock worth $67,676,000 after buying an additional 147,882 shares during the period. Finally, Bessemer Group Inc. boosted its position in Power Integrations by 1.2% during the 1st quarter. Bessemer Group Inc. now owns 108,288 shares of the semiconductor company’s stock valued at $5,544,000 after acquiring an additional 1,310 shares in the last quarter.

Insider Activity at Power Integrations

In other Power Integrations news, Director Balu Balakrishnan sold 124,287 shares of Power Integrations stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $86.44, for a total transaction of $10,743,368.28. Following the completion of the transaction, the director owned 279,516 shares in the company, valued at approximately $24,161,363.04. The trade was a 30.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sunil Gupta sold 15,894 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $82.18, for a total value of $1,306,168.92. Following the completion of the sale, the vice president directly owned 71,239 shares in the company, valued at $5,854,421.02. This trade represents a 18.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 334,772 shares of company stock valued at $27,322,535 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Benchmark upped their target price on Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Needham & Company LLC initiated coverage on Power Integrations in a research note on Wednesday, June 10th. They issued a “buy” rating and a $90.00 target price for the company. Stifel Nicolaus lifted their price target on Power Integrations from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Power Integrations in a research note on Friday, May 8th. Finally, Susquehanna increased their price objective on Power Integrations from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $76.20.

Power Integrations Price Performance

NASDAQ:POWI opened at $60.71 on Friday. Power Integrations, Inc. has a one year low of $30.86 and a one year high of $91.18. The company’s 50-day simple moving average is $75.66 and its 200 day simple moving average is $61.33. The firm has a market capitalization of $3.38 billion, a P/E ratio of 202.37 and a beta of 1.57.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Power Integrations had a net margin of 3.72% and a return on equity of 5.34%. The business had revenue of $108.31 million during the quarter, compared to the consensus estimate of $106.75 million. During the same quarter last year, the firm earned $0.31 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts expect that Power Integrations, Inc. will post 0.76 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were paid a $0.215 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.86 annualized dividend and a dividend yield of 1.4%. Power Integrations’s dividend payout ratio is presently 286.67%.

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.