Magnetar Financial LLC Takes Position in Power Integrations, Inc. (NASDAQ:POWI)

Magnetar Financial LLC acquired a new position in shares of Power Integrations, Inc. (NASDAQ:POWI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,701 shares of the semiconductor company’s stock, valued at approximately $541,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Power Integrations by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 6,528,564 shares of the semiconductor company’s stock worth $467,119,000 after acquiring an additional 105,034 shares in the last quarter. Capital International Investors boosted its position in Power Integrations by 6.5% during the first quarter. Capital International Investors now owns 1,316,934 shares of the semiconductor company’s stock worth $94,227,000 after purchasing an additional 80,775 shares in the last quarter. Ceredex Value Advisors LLC grew its holdings in Power Integrations by 4.8% in the second quarter. Ceredex Value Advisors LLC now owns 756,282 shares of the semiconductor company’s stock valued at $53,083,000 after purchasing an additional 34,400 shares during the last quarter. Fiera Capital Corp increased its position in shares of Power Integrations by 1.2% in the second quarter. Fiera Capital Corp now owns 494,768 shares of the semiconductor company’s stock valued at $34,728,000 after buying an additional 5,710 shares in the last quarter. Finally, Congress Asset Management Co. MA increased its position in shares of Power Integrations by 14.8% in the first quarter. Congress Asset Management Co. MA now owns 487,506 shares of the semiconductor company’s stock valued at $34,881,000 after buying an additional 62,824 shares in the last quarter.

Insiders Place Their Bets

In other 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 transaction of $140,169.30. Following the transaction, the vice president now directly owns 51,899 shares in the company, valued at approximately $3,420,144.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on POWI. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Friday, August 16th. Susquehanna lowered their price target on shares of Power Integrations from $95.00 to $80.00 and set a “positive” rating on the stock in a research report on Thursday, August 8th. Northland Securities raised shares of Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Monday, August 12th. Northland Capmk raised Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $95.00 price target (down previously from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

Power Integrations Price Performance

NASDAQ:POWI opened at $61.77 on Wednesday. Power Integrations, Inc. has a 1-year low of $56.63 and a 1-year high of $89.68. The firm has a 50 day simple moving average of $64.85 and a 200-day simple moving average of $69.37. The firm has a market cap of $3.51 billion, a PE ratio of 67.14, a P/E/G ratio of 4.87 and a beta of 1.10.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. Power Integrations had a return on equity of 4.86% and a net margin of 10.38%. The company had revenue of $106.20 million during the quarter, compared to the consensus estimate of $105.02 million. During the same period in the previous year, the firm posted $0.27 EPS. Power Integrations’s revenue was down 13.8% on a year-over-year basis. As a group, sell-side analysts expect that Power Integrations, Inc. will post 0.59 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Friday, August 30th. Power Integrations’s payout ratio is 86.96%.

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.