Mutual of America Capital Management LLC Cuts Stock Holdings in Power Integrations, Inc. (NASDAQ:POWI)

Mutual of America Capital Management LLC cut its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,715 shares of the semiconductor company’s stock after selling 1,786 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of Power Integrations worth $1,969,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position 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 purchasing an additional 105,034 shares during the last quarter. Copeland Capital Management LLC grew its holdings in shares of 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 purchasing an additional 213,392 shares during the period. Ceredex Value Advisors LLC grew its stake in Power Integrations by 4.8% during the second quarter. Ceredex Value Advisors LLC now owns 756,282 shares of the semiconductor company’s stock worth $53,083,000 after buying an additional 34,400 shares during the period. Congress Asset Management Co. raised its stake in shares of Power Integrations by 18.4% in the 3rd quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company’s stock valued at $39,875,000 after acquiring an additional 96,609 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Power Integrations by 23.4% during the 2nd quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock valued at $41,634,000 after acquiring an additional 112,595 shares in the last quarter.

Power Integrations Stock Up 2.0 %

POWI stock opened at $63.68 on Monday. The company has a 50-day simple moving average of $62.73 and a 200 day simple moving average of $67.60. The company has a market capitalization of $3.62 billion, a P/E ratio of 96.49, a PEG ratio of 6.76 and a beta of 1.10. 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 issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The company had revenue of $115.84 million for the quarter, compared to analysts’ expectations of $114.83 million. During the same period last year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities analysts anticipate that Power Integrations, Inc. will post 0.54 EPS for the current year.

Power Integrations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 1.32%. Power Integrations’s dividend payout ratio (DPR) is currently 121.21%.

Analyst Ratings Changes

A number of equities analysts have weighed in on POWI shares. Northland Capmk upgraded Power Integrations from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Benchmark reaffirmed a “buy” rating and set a $78.00 price target on shares of Power Integrations in a research note on Friday, November 8th. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target (down previously from $100.00) on shares of Power Integrations in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.00.

Insider Buying and Selling

In related news, VP Doug Bailey sold 8,549 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $64.96, for a total value of $555,343.04. Following the completion of the sale, the vice president now owns 86,375 shares in the company, valued at approximately $5,610,920. This represents a 9.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sunil Gupta sold 2,127 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total transaction of $140,169.30. Following the sale, the vice president now directly owns 51,899 shares in the company, valued at approximately $3,420,144.10. This trade represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,782 shares of company stock worth $702,135 in the last three months. 1.70% of the stock is currently owned by insiders.

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.