Goldman Sachs Group Inc. Cuts Stake in Power Integrations, Inc. (NASDAQ:POWI)

Goldman Sachs Group Inc. lowered its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 306,402 shares of the semiconductor company’s stock after selling 17,954 shares during the quarter. Goldman Sachs Group Inc. owned 0.54% of Power Integrations worth $25,159,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in shares of Power Integrations in the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. increased its holdings in shares of Power Integrations by 369.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 408 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 321 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Power Integrations in the 3rd quarter valued at about $65,000. Heritage Wealth Management LLC purchased a new position in shares of Power Integrations in the 4th quarter valued at about $204,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Power Integrations in the 4th quarter valued at about $209,000.

Insider Buying and Selling

In related news, VP Yang Chiah Yee sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $73.75, for a total value of $104,135.00. Following the sale, the vice president now directly owns 45,436 shares of the company’s stock, valued at $3,350,905. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Yang Chiah Yee sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $73.75, for a total value of $104,135.00. Following the transaction, the vice president now owns 45,436 shares in the company, valued at $3,350,905. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Balu Balakrishnan sold 9,799 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $68.61, for a total transaction of $672,309.39. Following the completion of the transaction, the chief executive officer now owns 552,161 shares in the company, valued at approximately $37,883,766.21. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,094 shares of company stock valued at $3,443,600. Insiders own 1.70% of the company’s stock.

Power Integrations Stock Performance

POWI opened at $70.42 on Tuesday. The company’s 50 day simple moving average is $72.62 and its 200 day simple moving average is $74.52. Power Integrations, Inc. has a 1 year low of $62.13 and a 1 year high of $99.60. The stock has a market capitalization of $4.00 billion, a PE ratio of 76.54, a P/E/G ratio of 3.94 and a beta of 1.18.

Power Integrations (NASDAQ:POWI) last released its earnings results on Tuesday, May 7th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter. Power Integrations had a net margin of 12.28% and a return on equity of 6.13%. The business had revenue of $91.69 million for the quarter, compared to analysts’ expectations of $89.98 million. As a group, sell-side analysts expect that Power Integrations, Inc. will post 0.74 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.14%. Power Integrations’s dividend payout ratio is presently 86.96%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Benchmark reissued a “buy” rating and issued a $90.00 price objective on shares of Power Integrations in a research note on Friday, June 7th. Northland Securities raised shares of Power Integrations from an “under perform” rating to a “market perform” rating and set a $67.00 price objective on the stock in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Power Integrations has a consensus rating of “Moderate Buy” and a consensus price target of $87.40.

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.