Canada Pension Plan Investment Board Makes New Investment in Power Integrations, Inc. $POWI

Key Points

• The Canada Pension Plan Investment Board has acquired a stake in Power Integrations, Inc., purchasing 34,600 shares worth approximately $1.75 million.
• Several analysts have adjusted their ratings on Power Integrations, with three giving it a "Buy" rating and a consensus price target of $61.67.
• Power Integrations declared a quarterly dividend of $0.21 per share, with the dividend yield currently at 1.9% and a payout ratio of 144.83%.

Canada Pension Plan Investment Board purchased a new position in Power Integrations, Inc. (NASDAQ:POWI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,600 shares of the semiconductor company's stock, valued at approximately $1,747,000. Canada Pension Plan Investment Board owned 0.06% of Power Integrations as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in Power Integrations by 1.2% during the first quarter. Victory Capital Management Inc. now owns 17,385 shares of the semiconductor company's stock valued at $878,000 after buying an additional 200 shares during the period. Snowden Capital Advisors LLC lifted its stake in shares of Power Integrations by 1.8% during the 4th quarter. Snowden Capital Advisors LLC now owns 12,127 shares of the semiconductor company's stock valued at $748,000 after buying an additional 211 shares in the last quarter. Bayforest Capital Ltd increased its holdings in Power Integrations by 54.3% in the 1st quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 222 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Power Integrations by 4.1% in the 1st quarter. Bessemer Group Inc. now owns 6,769 shares of the semiconductor company's stock worth $342,000 after buying an additional 269 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Power Integrations by 8.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,493 shares of the semiconductor company's stock worth $227,000 after purchasing an additional 339 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on POWI shares. Susquehanna lowered their price target on shares of Power Integrations from $70.00 to $55.00 and set a "positive" rating for the company in a research report on Thursday, August 7th. Stifel Nicolaus increased 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 decreased their price objective 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. Finally, Wall Street Zen downgraded shares of Power Integrations from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Power Integrations presently has an average rating of "Buy" and a consensus target price of $61.67.

Insiders Place Their Bets

In other news, VP Doug Bailey sold 16,989 shares of Power Integrations stock in a transaction on Monday, August 18th. The shares were sold at an average price of $46.41, for a total value of $788,459.49. Following the transaction, the vice president directly owned 50,798 shares of the company's stock, valued at $2,357,535.18. The trade was a 25.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Gagan Jain sold 2,036 shares of Power Integrations stock in a transaction on 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 in the company, valued at $866,292.60. The trade was a 9.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,014 shares of company stock worth $1,678,322 over the last ninety days. Corporate insiders own 1.40% of the company's stock.

Power Integrations Price Performance

Shares of NASDAQ:POWI traded down $0.19 during trading on Wednesday, hitting $44.48. 584,655 shares of the company were exchanged, compared to its average volume of 501,979. The stock has a market capitalization of $2.50 billion, a P/E ratio of 76.69, a PEG ratio of 2.92 and a beta of 1.38. Power Integrations, Inc. has a 12-month low of $39.53 and a 12-month high of $69.53. The firm's 50 day moving average price is $49.59 and its 200-day moving average price is $51.88.

Power Integrations (NASDAQ:POWI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $115.85 million during the quarter, compared to the consensus estimate of $115.02 million. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The company's revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. As a group, equities research analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Power Integrations's payout ratio is presently 144.83%.

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.