Power Integrations Inc (POWI) Position Reduced by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Power Integrations Inc (NASDAQ:POWI) by 20.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,810 shares of the semiconductor company’s stock after selling 476 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Power Integrations were worth $127,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Power Integrations by 0.3% in the 4th quarter. BlackRock Inc. now owns 4,214,069 shares of the semiconductor company’s stock worth $256,974,000 after buying an additional 12,957 shares during the period. Ceredex Value Advisors LLC grew its holdings in Power Integrations by 0.6% during the 4th quarter. Ceredex Value Advisors LLC now owns 1,468,617 shares of the semiconductor company’s stock worth $89,556,000 after acquiring an additional 8,817 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Power Integrations by 6.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 762,181 shares of the semiconductor company’s stock worth $46,478,000 after acquiring an additional 46,081 shares in the last quarter. Norges Bank bought a new position in Power Integrations during the 4th quarter worth about $27,710,000. Finally, Robecosam AG grew its holdings in Power Integrations by 4.0% during the 4th quarter. Robecosam AG now owns 420,000 shares of the semiconductor company’s stock worth $25,389,000 after acquiring an additional 16,000 shares in the last quarter. 97.55% of the stock is currently owned by institutional investors.

In other news, Director William George sold 511 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $74.00, for a total value of $37,814.00. Following the sale, the director now directly owns 30,356 shares in the company, valued at approximately $2,246,344. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Clifford Walker sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $78.76, for a total transaction of $787,600.00. Following the completion of the sale, the vice president now owns 91,702 shares in the company, valued at $7,222,449.52. The disclosure for this sale can be found here. Insiders sold a total of 27,282 shares of company stock worth $2,087,370 over the last 90 days. Company insiders own 4.10% of the company’s stock.

Several brokerages have issued reports on POWI. Zacks Investment Research upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. BidaskClub cut shares of Power Integrations from a “buy” rating to a “hold” rating in a report on Tuesday. Loop Capital increased their target price on shares of Power Integrations to $78.00 and gave the stock an “in-line” rating in a report on Friday, April 26th. Northland Securities reiterated a “hold” rating and set a $52.00 target price on shares of Power Integrations in a report on Wednesday, March 27th. Finally, ValuEngine upgraded shares of Power Integrations from a “hold” rating to a “buy” rating in a report on Friday, January 25th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Power Integrations currently has a consensus rating of “Hold” and a consensus target price of $73.25.

Power Integrations stock traded down $1.45 during midday trading on Thursday, hitting $67.65. 5,647 shares of the company’s stock were exchanged, compared to its average volume of 154,546. Power Integrations Inc has a 12 month low of $47.35 and a 12 month high of $81.37. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 31.62 and a beta of 1.08.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Thursday, April 25th. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.19. Power Integrations had a net margin of 15.67% and a return on equity of 10.86%. The company had revenue of $89.19 million for the quarter, compared to analysts’ expectations of $90.10 million. During the same period in the prior year, the business earned $0.67 EPS. The firm’s quarterly revenue was down 13.5% on a year-over-year basis. Research analysts predict that Power Integrations Inc will post 1.66 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Thursday, May 30th. Power Integrations’s dividend payout ratio is currently 31.78%.

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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.

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

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