Alberta Investment Management Corp Makes New $1.72 Million Investment in Power Integrations, Inc. (NASDAQ:POWI)

Key Points

• Alberta Investment Management Corp acquired a new position in Power Integrations, purchasing 34,122 shares valued at approximately $1.723 million, representing a 0.06% ownership stake.
• Analysts have a generally optimistic outlook on Power Integrations, with a majority rating the stock as a "buy" and setting an average price target of $73.33.
• Power Integrations announced a quarterly dividend of $0.21 per share, yielding 1.7%, though it has a high dividend payout ratio of 129.23%.

Alberta Investment Management Corp acquired a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 34,122 shares of the semiconductor company's stock, valued at approximately $1,723,000. Alberta Investment Management Corp owned about 0.06% of Power Integrations at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP raised its position in shares of Power Integrations by 257.8% in the first quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock worth $30,000 after buying an additional 428 shares in the last quarter. Bayforest Capital Ltd lifted its stake in Power Integrations by 54.3% in the first quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 222 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Power Integrations by 133.2% during the 4th quarter. Quadrant Capital Group LLC now owns 674 shares of the semiconductor company's stock valued at $42,000 after acquiring an additional 385 shares during the period. Global X Japan Co. Ltd. bought a new position in shares of Power Integrations in the first quarter worth approximately $42,000. Finally, Larson Financial Group LLC bought a new stake in shares of Power Integrations in the first quarter worth about $45,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on POWI shares. Stifel Nicolaus upped their price objective on shares of Power Integrations from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Benchmark restated a "buy" rating and issued a $70.00 target price on shares of Power Integrations in a report on Wednesday, July 16th. Susquehanna decreased their price target on shares of Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a research report on Thursday. Finally, Wall Street Zen upgraded shares of Power Integrations from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Power Integrations currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.67.

Power Integrations Stock Performance

Shares of NASDAQ:POWI traded down $4.13 during trading on Thursday, reaching $43.37. The stock had a trading volume of 1,225,893 shares, compared to its average volume of 543,004. The stock has a market cap of $2.44 billion, a PE ratio of 66.88, a PEG ratio of 1.98 and a beta of 1.31. Power Integrations, Inc. has a 1-year low of $39.53 and a 1-year high of $69.53. The business has a fifty day moving average price of $54.31 and a 200-day moving average price of $54.59.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $115.85 million during the quarter, compared to analysts' expectations of $115.02 million. Power Integrations had a return on equity of 5.12% and a net margin of 8.56%. The company's revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 EPS. Sell-side analysts expect that Power Integrations, Inc. will post 0.93 earnings per share for the current year.

Power Integrations Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a dividend of $0.21 per share. The ex-dividend date was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.9%. Power Integrations's dividend payout ratio (DPR) is 129.23%.

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.