Azzad Asset Management Inc. ADV Acquires 1,960 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Azzad Asset Management Inc. ADV raised its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 18.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,381 shares of the semiconductor company’s stock after purchasing an additional 1,960 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Power Integrations were worth $794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Power Integrations by 69.8% in the 2nd quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Power Integrations in the 1st quarter worth $51,000. Fidelis Capital Partners LLC bought a new stake in shares of Power Integrations in the 1st quarter worth $55,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Power Integrations in the 2nd quarter worth $63,000. Finally, Quest Partners LLC grew its stake in shares of Power Integrations by 23.5% in the 2nd quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 240 shares in the last quarter.

Analyst Ratings Changes

Several research firms have recently issued reports on POWI. Benchmark reiterated a “buy” rating and issued a $78.00 target price on shares of Power Integrations in a research note on Wednesday, September 11th. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 target price (down previously from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. TD Cowen cut their price target on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Northland Capmk raised shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

Power Integrations Stock Down 0.7 %

Shares of NASDAQ:POWI opened at $62.25 on Wednesday. The firm has a market capitalization of $3.54 billion, a PE ratio of 67.66, a P/E/G ratio of 5.09 and a beta of 1.10. Power Integrations, Inc. has a twelve month low of $56.63 and a twelve month high of $89.68. The company has a 50-day moving average price of $62.76 and a two-hundred day moving average price of $68.78.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $106.20 million during the quarter, compared to analyst estimates of $105.02 million. Power Integrations had a net margin of 10.38% and a return on equity of 4.86%. The company’s quarterly revenue was down 13.8% on a year-over-year basis. During the same quarter last year, the business earned $0.27 earnings per share. Analysts anticipate that Power Integrations, Inc. will post 0.59 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 30th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. Power Integrations’s dividend payout ratio (DPR) is currently 86.96%.

Insider Activity

In other news, VP Sunil Gupta sold 2,127 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total value of $140,169.30. Following the transaction, the vice president now owns 51,899 shares of the company’s stock, valued at approximately $3,420,144.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.

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.