BTIM Corp. Grows Holdings in Power Integrations Inc (NASDAQ:POWI)

BTIM Corp. increased its holdings in shares of Power Integrations Inc (NASDAQ:POWI) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 197,681 shares of the semiconductor company’s stock after acquiring an additional 3,078 shares during the quarter. BTIM Corp. owned about 0.68% of Power Integrations worth $13,825,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in POWI. Geode Capital Management LLC boosted its holdings in shares of Power Integrations by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 344,793 shares of the semiconductor company’s stock worth $21,025,000 after buying an additional 17,356 shares during the last quarter. Norges Bank purchased a new stake in Power Integrations in the fourth quarter worth $27,710,000. Amalgamated Bank purchased a new stake in Power Integrations in the fourth quarter worth $273,000. Public Employees Retirement System of Ohio lifted its stake in Power Integrations by 2.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 150,925 shares of the semiconductor company’s stock worth $9,203,000 after acquiring an additional 3,619 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in Power Integrations by 5.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 50,994 shares of the semiconductor company’s stock worth $3,110,000 after acquiring an additional 2,496 shares during the period. 99.37% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently commented on the company. BidaskClub raised Power Integrations from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 19th. Zacks Investment Research raised Power Integrations from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Northland Securities reissued a “hold” rating and set a $52.00 price objective on shares of Power Integrations in a research report on Friday, April 26th. Loop Capital raised their price objective on Power Integrations to $78.00 and gave the company an “in-line” rating in a research report on Friday, April 26th. Finally, ValuEngine raised Power Integrations from a “hold” rating to a “buy” rating in a research report on Friday, January 25th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $73.25.

Shares of NASDAQ:POWI traded up $0.29 on Friday, hitting $75.93. 93,063 shares of the company traded hands, compared to its average volume of 151,139. Power Integrations Inc has a 52 week low of $47.35 and a 52 week high of $81.37. The company has a market capitalization of $2.34 billion, a PE ratio of 35.48 and a beta of 1.08.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.22 by $0.19. Power Integrations had a return on equity of 10.86% and a net margin of 15.67%. The company had revenue of $89.19 million during the quarter, compared to the consensus estimate of $90.10 million. During the same period last year, the company earned $0.67 EPS. Power Integrations’s revenue for the quarter was down 13.5% on a year-over-year basis. On average, analysts expect that Power Integrations Inc will post 1.66 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.68 annualized dividend and a yield of 0.90%. Power Integrations’s payout ratio is 31.78%.

In other Power Integrations news, VP Clifford Walker sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $68.62, for a total value of $343,100.00. Following the transaction, the vice president now directly owns 81,758 shares of the company’s stock, valued at $5,610,233.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Balu Balakrishnan sold 24,023 shares of the firm’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $70.60, for a total value of $1,696,023.80. Following the completion of the transaction, the insider now directly owns 324,383 shares in the company, valued at $22,901,439.80. The disclosure for this sale can be found here. Insiders sold a total of 77,335 shares of company stock valued at $5,617,570 over the last quarter. 4.10% of the stock is owned by corporate insiders.

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Power Integrations Profile

Power Integrations, Inc designs, develops, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 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, and other consumer and industrial applications, as well as light-emitting diode lighting.

Read More: Market Capitalization and Individual Investors

Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

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