Azzad Asset Management Inc. ADV Purchases Shares of 13,519 Power Integrations, Inc. (NASDAQ:POWI)

Azzad Asset Management Inc. ADV purchased a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,519 shares of the semiconductor company's stock, valued at approximately $683,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in POWI. Allspring Global Investments Holdings LLC purchased a new position in Power Integrations in the fourth quarter valued at approximately $288,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Power Integrations by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 654,973 shares of the semiconductor company's stock valued at $40,412,000 after acquiring an additional 33,741 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Power Integrations by 18.5% during the 4th quarter. Bank of America Corp DE now owns 401,125 shares of the semiconductor company's stock valued at $24,749,000 after acquiring an additional 62,750 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Power Integrations in the fourth quarter valued at about $7,470,000. Finally, GAMMA Investing LLC lifted its stake in shares of Power Integrations by 17,230.4% during the first quarter. GAMMA Investing LLC now owns 101,556 shares of the semiconductor company's stock worth $5,129,000 after purchasing an additional 100,970 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Power Integrations from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Stifel Nicolaus raised 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. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Power Integrations presently has a consensus rating of "Moderate Buy" and an average price target of $74.67.

Power Integrations Stock Performance

Shares of NASDAQ POWI traded down $0.41 during trading on Thursday, hitting $54.04. The company had a trading volume of 647,860 shares, compared to its average volume of 482,429. Power Integrations, Inc. has a 52 week low of $40.78 and a 52 week high of $79.13. The business's 50-day moving average is $51.28 and its 200 day moving average is $56.68. The company has a market cap of $3.04 billion, a P/E ratio of 83.14, a PEG ratio of 2.23 and a beta of 1.29.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The semiconductor company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. The business 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%. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share. On average, research analysts expect that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, May 30th. Power Integrations's dividend payout ratio is currently 129.23%.

Insiders Place Their Bets

In other Power Integrations news, CFO Sandeep Nayyar sold 1,929 shares of Power Integrations stock in a transaction on 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 approximately $5,463,397.73. This trade represents a 1.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Clifford Walker sold 1,088 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $50.89, for a total value of $55,368.32. Following the completion of the sale, the vice president now owns 141,765 shares of the company's stock, valued at approximately $7,214,420.85. This trade represents a 0.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,561 shares of company stock valued at $642,092 in the last three months. Company insiders own 1.40% of the company's stock.

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.