The Manufacturers Life Insurance Company Has $7.23 Million Stock Position in Power Integrations, Inc. (NASDAQ:POWI)

The Manufacturers Life Insurance Company raised its position in Power Integrations, Inc. (NASDAQ:POWI) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,032 shares of the semiconductor company’s stock after purchasing an additional 2,136 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.18% of Power Integrations worth $7,230,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of POWI. TD Asset Management Inc bought a new stake in shares of Power Integrations in the 4th quarter valued at approximately $1,299,000. Stifel Financial Corp increased its stake in shares of Power Integrations by 2.3% during the 4th quarter. Stifel Financial Corp now owns 55,928 shares of the semiconductor company’s stock worth $4,592,000 after purchasing an additional 1,235 shares during the last quarter. Seven Eight Capital LP raised its holdings in shares of Power Integrations by 19.8% during the 4th quarter. Seven Eight Capital LP now owns 5,008 shares of the semiconductor company’s stock valued at $411,000 after purchasing an additional 828 shares in the last quarter. Shell Asset Management Co. lifted its stake in shares of Power Integrations by 12.7% in the 4th quarter. Shell Asset Management Co. now owns 31,608 shares of the semiconductor company’s stock valued at $2,595,000 after purchasing an additional 3,572 shares during the last quarter. Finally, LM Advisors LLC bought a new stake in Power Integrations in the fourth quarter worth $266,000.

Power Integrations Stock Up 1.0 %

Power Integrations stock opened at $63.14 on Friday. The business has a 50 day moving average price of $63.15 and a two-hundred day moving average price of $68.90. Power Integrations, Inc. has a 12 month low of $56.63 and a 12 month high of $89.68. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 68.63, a price-to-earnings-growth ratio of 5.11 and a beta of 1.10.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $106.20 million during the quarter, compared to analyst estimates of $105.02 million. Power Integrations had a return on equity of 4.86% and a net margin of 10.38%. Power Integrations’s revenue was down 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. On average, 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 disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 30th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Friday, August 30th. Power Integrations’s payout ratio is 86.96%.

Insider Activity

In other Power Integrations news, VP Sunil Gupta sold 2,127 shares of the firm’s 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 completion of the transaction, the vice president now owns 51,899 shares in the company, valued at $3,420,144.10. This trade 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 available at this link. 1.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on POWI shares. TD Cowen reduced their target price on Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Benchmark reissued a “buy” rating and set a $78.00 price objective on shares of Power Integrations in a research report on Wednesday, September 11th. Northland Securities raised Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Monday, August 12th. Susquehanna dropped their price target on Power Integrations from $95.00 to $80.00 and set a “positive” rating on the stock in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Power Integrations from $73.00 to $68.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Power Integrations currently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

Power Integrations Company 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.