Fmr LLC Purchases 10,728 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Fmr LLC grew its position in Power Integrations, Inc. (NASDAQ:POWI) by 164.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,247 shares of the semiconductor company’s stock after purchasing an additional 10,728 shares during the quarter. Fmr LLC’s holdings in Power Integrations were worth $1,106,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp increased its position in Power Integrations by 55.6% during the third quarter. Van ECK Associates Corp now owns 34,431 shares of the semiconductor company’s stock worth $2,138,000 after acquiring an additional 12,297 shares during the period. GSA Capital Partners LLP increased its position in Power Integrations by 97.5% during the third quarter. GSA Capital Partners LLP now owns 26,028 shares of the semiconductor company’s stock worth $1,669,000 after acquiring an additional 12,847 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Power Integrations by 214.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,860 shares of the semiconductor company’s stock worth $2,684,000 after acquiring an additional 28,548 shares during the period. Los Angeles Capital Management LLC bought a new position in Power Integrations during the second quarter worth $699,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Power Integrations by 10.9% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 234,418 shares of the semiconductor company’s stock worth $16,454,000 after acquiring an additional 23,056 shares during the period.

Analyst Ratings Changes

A number of brokerages recently issued reports on POWI. Susquehanna dropped their target price on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a research report on Thursday, November 7th. StockNews.com upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Benchmark reiterated a “buy” rating and set a $78.00 price target on shares of Power Integrations in a research note on Friday, November 8th. Three equities research 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 stock. Based on data from MarketBeat, Power Integrations has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Insider Activity

In related news, VP Doug Bailey sold 8,549 shares of Power Integrations 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 directly 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 filing with the SEC, which is available through the SEC website. Also, VP Clifford Walker sold 10,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $64.36, for a total value of $643,600.00. Following the completion of the transaction, the vice president now owns 130,934 shares in the company, valued at $8,426,912.24. The trade was a 7.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,655 shares of company stock worth $1,205,566. Corporate insiders own 1.70% of the company’s stock.

Power Integrations Stock Performance

Shares of NASDAQ:POWI opened at $64.79 on Tuesday. Power Integrations, Inc. has a 52 week low of $56.63 and a 52 week high of $87.02. The company’s fifty day moving average is $63.89 and its 200-day moving average is $66.28. The company has a market capitalization of $3.68 billion, a PE ratio of 98.17, a P/E/G ratio of 7.01 and a beta of 1.12.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 EPS for the quarter, beating 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 company had revenue of $115.84 million for the quarter, compared to the consensus estimate of $114.83 million. During the same quarter in the previous year, the company earned $0.35 EPS. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, analysts forecast that Power Integrations, Inc. will post 0.54 EPS for the current year.

Power Integrations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, November 29th. This is an increase from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s payout ratio is currently 127.27%.

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.