Ameriprise Financial Inc. Sells 377,709 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Ameriprise Financial Inc. decreased its stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 85.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,331 shares of the semiconductor company's stock after selling 377,709 shares during the period. Ameriprise Financial Inc. owned about 0.11% of Power Integrations worth $3,908,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Power Integrations by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 7,210,835 shares of the semiconductor company's stock valued at $444,909,000 after purchasing an additional 114,047 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Power Integrations by 4.5% during the 4th 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. grew its holdings in Power Integrations by 10.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,920,459 shares of the semiconductor company's stock worth $118,492,000 after acquiring an additional 178,896 shares during the last quarter. Geode Capital Management LLC grew its holdings in Power Integrations by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,604,230 shares of the semiconductor company's stock worth $99,000,000 after acquiring an additional 28,793 shares during the last quarter. Finally, Capital International Investors grew its holdings in Power Integrations by 5.8% in the 4th quarter. Capital International Investors now owns 1,503,132 shares of the semiconductor company's stock worth $92,743,000 after acquiring an additional 82,681 shares during the last quarter.

Power Integrations Stock Down 1.4%

Shares of NASDAQ:POWI traded down $0.73 on Friday, hitting $49.91. The company had a trading volume of 861,513 shares, compared to its average volume of 466,738. The firm's 50-day simple moving average is $49.53 and its two-hundred day simple moving average is $57.39. Power Integrations, Inc. has a 1 year low of $40.78 and a 1 year high of $79.13. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 87.56, a P/E/G ratio of 4.08 and a beta of 1.31.

Power Integrations (NASDAQ:POWI - Get Free Report) last issued its quarterly 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. Power Integrations had a net margin of 7.69% and a return on equity of 4.48%. The company had revenue of $105.53 million during the quarter, compared to analysts' expectations of $105.44 million. During the same period last year, the company posted $0.18 EPS. Power Integrations's revenue was up 15.1% on a year-over-year basis. Equities research analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 1.68%. Power Integrations's dividend payout ratio (DPR) is presently 129.23%.

Insiders Place Their Bets

In other Power Integrations news, CEO Balu Balakrishnan sold 9,544 shares of Power Integrations stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $51.19, for a total value of $488,557.36. Following the completion of the transaction, the chief executive officer now directly owns 590,580 shares of the company's stock, valued at approximately $30,231,790.20. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Nayyar sold 1,929 shares of Power Integrations stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.89, for a total transaction of $98,166.81. Following the completion of the transaction, the chief financial officer now directly owns 107,357 shares of the company's stock, valued at $5,463,397.73. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,561 shares of company stock valued at $642,092. Insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus raised their price target 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 reissued a "buy" rating and issued a $78.00 price target on shares of Power Integrations in a report on Friday, February 7th. Finally, Wall Street Zen lowered shares of Power Integrations from a "buy" rating to a "hold" rating in a report on Saturday. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $74.67.

Power Integrations Company 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.