Principal Financial Group Inc. Sells 59,270 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Principal Financial Group Inc. decreased its position in Power Integrations, Inc. (NASDAQ:POWI) by 30.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 133,179 shares of the semiconductor company’s stock after selling 59,270 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Power Integrations worth $8,539,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in POWI. Copeland Capital Management LLC grew its holdings in Power Integrations by 21.5% during the 3rd quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company’s stock worth $77,401,000 after acquiring an additional 213,392 shares during the last quarter. M&G PLC bought a new stake in Power Integrations during the 3rd quarter worth about $9,820,000. D. E. Shaw & Co. Inc. grew its holdings in Power Integrations by 40.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 457,470 shares of the semiconductor company’s stock worth $32,110,000 after acquiring an additional 131,735 shares during the last quarter. Millennium Management LLC grew its holdings in Power Integrations by 23.4% during the 2nd quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock worth $41,634,000 after acquiring an additional 112,595 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in 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 during the last quarter.

Insiders Place Their Bets

In related news, VP Doug Bailey sold 8,549 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $64.96, for a total value of $555,343.04. Following the completion of the transaction, the vice president now owns 86,375 shares of the company’s stock, valued at $5,610,920. The trade was a 9.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sunil Gupta sold 2,127 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 51,899 shares of the company’s stock, valued at approximately $3,420,144.10. This trade represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,947 shares of company stock valued at $713,190 over the last ninety days. 1.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Susquehanna decreased their price objective on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and issued a $78.00 target price on shares of Power Integrations in a research note on Friday, November 8th. Finally, Northland Capmk raised shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Power Integrations currently has an average rating of “Moderate Buy” and an average price target of $78.00.

Power Integrations Price Performance

Shares of NASDAQ:POWI opened at $60.59 on Tuesday. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 91.80, a P/E/G ratio of 6.50 and a beta of 1.10. The firm’s 50 day simple moving average is $62.47 and its 200 day simple moving average is $67.86. Power Integrations, Inc. has a fifty-two week low of $56.63 and a fifty-two week high of $89.68.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. The firm had revenue of $115.84 million for the quarter, compared to the consensus estimate of $114.83 million. During the same period last year, the company posted $0.35 EPS. The business’s quarterly revenue was down 7.7% on a year-over-year basis. Equities research analysts expect that Power Integrations, Inc. will post 0.54 earnings per share for the current year.

Power Integrations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.39%. This is a boost from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 29th. Power Integrations’s payout ratio is 127.27%.

About Power Integrations

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.