State of Alaska Department of Revenue Acquires 445 Shares of Power Integrations, Inc. (NASDAQ:POWI)

State of Alaska Department of Revenue boosted its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,587 shares of the semiconductor company’s stock after purchasing an additional 445 shares during the period. State of Alaska Department of Revenue’s holdings in Power Integrations were worth $422,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of Power Integrations by 69.8% during the 2nd quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 150 shares in the last quarter. Mather Group LLC. raised its stake in shares of Power Integrations by 22.8% in the second quarter. Mather Group LLC. now owns 868 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 161 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Power Integrations in the second quarter valued at approximately $63,000. Quest Partners LLC boosted its holdings 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. Finally, Covestor Ltd grew its position in Power Integrations by 16.3% during the 1st quarter. Covestor Ltd now owns 1,581 shares of the semiconductor company’s stock worth $113,000 after acquiring an additional 222 shares during the last quarter.

Insider Buying and Selling

In other Power Integrations news, VP Sunil Gupta sold 2,127 shares of the company’s stock in a transaction that occurred 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 completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 2,398 shares of company stock valued at $157,847 in the last 90 days. 1.70% of the stock is owned by insiders.

Power Integrations Price Performance

Shares of NASDAQ:POWI opened at $66.31 on Friday. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 100.47, a P/E/G ratio of 5.34 and a beta of 1.10. The company has a 50 day moving average of $62.29 and a 200-day moving average of $68.02. Power Integrations, Inc. has a one year low of $56.63 and a one year high of $89.68.

Power Integrations (NASDAQ:POWI) last released its 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. The firm had revenue of $106.20 million for the quarter, compared to analyst estimates of $105.02 million. Power Integrations had a return on equity of 4.15% and a net margin of 9.27%. The company’s quarterly revenue was down 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Equities research analysts anticipate that Power Integrations, Inc. will post 0.59 earnings per share for the current year.

Power Integrations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.27%. This is an increase from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 29th. Power Integrations’s dividend payout ratio (DPR) is currently 121.21%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on POWI. Stifel Nicolaus restated a “buy” rating and set a $95.00 target price (down previously from $100.00) on shares of Power Integrations in a report on Monday, August 5th. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Northland Securities raised shares of Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Monday, August 12th. TD Cowen decreased their price target on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Three investment 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. Based on data from MarketBeat, Power Integrations has a consensus rating of “Moderate Buy” and an average price target of $78.00.

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.