731,065 Shares in Power Integrations, Inc. $POWI Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. acquired 731,065 shares of Power Integrations, Inc. for approximately $36.9 million, increasing their ownership to about 1.29% of the company.
• Power Integrations reported an earnings beat of $0.35 per share for the most recent quarter, exceeding expectations, with a subsequent quarterly dividend of $0.21 per share announced.
• Despite recent growth, analysts have mixed ratings on POWI shares, with price targets ranging from $55 to $75 as three analysts maintain a "buy" rating.

American Century Companies Inc. bought a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 731,065 shares of the semiconductor company's stock, valued at approximately $36,919,000. American Century Companies Inc. owned approximately 1.29% of Power Integrations as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Invesco Ltd. lifted its stake in shares of Power Integrations by 1,345.8% during the 1st quarter. Invesco Ltd. now owns 1,314,208 shares of the semiconductor company's stock valued at $66,367,000 after buying an additional 1,223,310 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Power Integrations by 9.1% during the 4th quarter. Northern Trust Corp now owns 996,040 shares of the semiconductor company's stock valued at $61,456,000 after buying an additional 83,186 shares in the last quarter. Snyder Capital Management L P lifted its stake in shares of Power Integrations by 22.3% during the 4th quarter. Snyder Capital Management L P now owns 882,518 shares of the semiconductor company's stock valued at $54,451,000 after buying an additional 160,784 shares in the last quarter. Stephens Investment Management Group LLC lifted its stake in shares of Power Integrations by 30.5% during the 1st quarter. Stephens Investment Management Group LLC now owns 738,976 shares of the semiconductor company's stock valued at $37,318,000 after buying an additional 172,530 shares in the last quarter. Finally, Congress Asset Management Co. lifted its stake in shares of Power Integrations by 16.8% during the 1st quarter. Congress Asset Management Co. now owns 737,134 shares of the semiconductor company's stock valued at $37,225,000 after buying an additional 105,995 shares in the last quarter.

Insider Transactions at Power Integrations

In related news, VP Gagan Jain sold 2,036 shares of Power Integrations stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $46.05, for a total transaction of $93,757.80. Following the completion of the transaction, the vice president directly owned 18,812 shares of the company's stock, valued at approximately $866,292.60. The trade was a 9.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Doug Bailey sold 16,989 shares of Power Integrations stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $46.41, for a total transaction of $788,459.49. Following the transaction, the vice president directly owned 50,798 shares of the company's stock, valued at approximately $2,357,535.18. This represents a 25.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,014 shares of company stock worth $1,678,322. Insiders own 1.40% of the company's stock.

Power Integrations Price Performance

Shares of Power Integrations stock traded down $0.41 during trading hours on Tuesday, reaching $46.10. The company's stock had a trading volume of 534,775 shares, compared to its average volume of 730,184. The firm has a 50 day moving average price of $51.95 and a 200-day moving average price of $53.05. Power Integrations, Inc. has a one year low of $39.53 and a one year high of $69.53. The stock has a market cap of $2.59 billion, a P/E ratio of 79.48, a P/E/G ratio of 3.04 and a beta of 1.31.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its 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. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The firm had revenue of $115.85 million for the quarter, compared to the consensus estimate of $115.02 million. During the same period in the previous year, the firm posted $0.28 EPS. The business's quarterly revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a $0.21 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.8%. Power Integrations's payout ratio is 144.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on POWI. Benchmark reduced their price target on shares of Power Integrations from $70.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Susquehanna reduced their price target on shares of Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a report on Thursday, August 7th. Wall Street Zen downgraded shares of Power Integrations from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Stifel Nicolaus lifted their price target on shares of Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Power Integrations has a consensus rating of "Buy" and an average target price of $61.67.

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.