Allianz Asset Management GmbH Buys 40,354 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Allianz Asset Management GmbH increased its position in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 114.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,658 shares of the semiconductor company's stock after acquiring an additional 40,354 shares during the quarter. Allianz Asset Management GmbH owned about 0.13% of Power Integrations worth $3,821,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Power Integrations by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,210,835 shares of the semiconductor company's stock valued at $444,909,000 after buying an additional 114,047 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Power Integrations by 4.5% in the fourth quarter. Wellington Management Group LLP now owns 2,445,362 shares of the semiconductor company's stock valued at $150,879,000 after purchasing an additional 105,034 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Power Integrations by 10.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,920,459 shares of the semiconductor company's stock valued at $118,492,000 after purchasing an additional 178,896 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Power Integrations by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,604,230 shares of the semiconductor company's stock valued at $99,000,000 after purchasing an additional 28,793 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Power Integrations by 5.8% in the fourth quarter. Capital International Investors now owns 1,503,132 shares of the semiconductor company's stock valued at $92,743,000 after purchasing an additional 82,681 shares during the last quarter.

Power Integrations Stock Down 1.2%

Shares of Power Integrations stock traded down $0.59 during trading on Friday, reaching $47.93. The company's stock had a trading volume of 319,740 shares, compared to its average volume of 533,947. The business's 50-day moving average price is $54.47 and its 200-day moving average price is $54.96. The firm has a market cap of $2.70 billion, a PE ratio of 73.60, a P/E/G ratio of 2.04 and a beta of 1.31. Power Integrations, Inc. has a 52 week low of $40.78 and a 52 week high of $69.53.

Power Integrations (NASDAQ:POWI - Get Free Report) last announced its earnings results on Monday, May 12th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.03. The company had revenue of $105.53 million during the quarter, compared to analysts' expectations of $105.44 million. Power Integrations had a net margin of 8.56% and a return on equity of 5.12%. Power Integrations's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 earnings per share. Equities analysts predict that Power Integrations, Inc. will post 0.93 earnings per share for the current year.

Power Integrations Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 1.8%. Power Integrations's dividend payout ratio is currently 129.23%.

Analyst Ratings Changes

A number of brokerages recently weighed in on POWI. Stifel Nicolaus boosted their target price 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. Wall Street Zen upgraded shares of Power Integrations from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Benchmark reiterated a "buy" rating and issued a $70.00 price objective on shares of Power Integrations in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.33.

Power Integrations 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.