Canada Pension Plan Investment Board Makes New $1.75 Million 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 filing with the Securities & Exchange Commission. The fund purchased 34,600 shares of the semiconductor company's stock, valued at approximately $1,747,000. Canada Pension Plan Investment Board owned approximately 0.06% of Power Integrations as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas acquired a new position in shares of Power Integrations in the first quarter worth about $1,452,000. SG Americas Securities LLC acquired a new position in shares of Power Integrations in the first quarter worth about $344,000. GAMMA Investing LLC lifted its stake in shares of Power Integrations by 243.2% in the first quarter. GAMMA Investing LLC now owns 2,011 shares of the semiconductor company's stock worth $102,000 after acquiring an additional 1,425 shares in the last quarter. Savvy Advisors Inc. acquired a new position in shares of Power Integrations in the first quarter worth about $630,000. Finally, Sei Investments Co. lifted its stake in shares of Power Integrations by 7.1% in the first quarter. Sei Investments Co. now owns 103,425 shares of the semiconductor company's stock worth $5,223,000 after acquiring an additional 6,827 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on POWI. Wall Street Zen cut Power Integrations from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Benchmark cut their price target on Power Integrations from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Stifel Nicolaus upped their price objective on Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Susquehanna cut their price objective on Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Power Integrations presently has a consensus rating of "Buy" and a consensus price target of $61.67.

Insider Buying and Selling

In other Power Integrations news, VP Doug Bailey sold 16,989 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $46.41, for a total transaction of $788,459.49. Following the completion of the transaction, the vice president directly owned 50,798 shares of the company's stock, valued at approximately $2,357,535.18. This trade represents a 25.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Gagan Jain sold 2,036 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $46.05, for a total value of $93,757.80. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,014 shares of company stock valued at $1,678,322 over the last three months. Corporate insiders own 1.40% of the company's stock.

Power Integrations Price Performance

POWI stock traded up $0.18 on Friday, reaching $44.91. The company's stock had a trading volume of 423,426 shares, compared to its average volume of 572,691. Power Integrations, Inc. has a 52 week low of $39.53 and a 52 week high of $69.53. The company has a market capitalization of $2.52 billion, a P/E ratio of 77.43, a price-to-earnings-growth ratio of 2.94 and a beta of 1.38. The firm has a fifty day moving average of $50.36 and a two-hundred day moving average of $52.12.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Power Integrations had a return on equity of 5.86% and a net margin of 7.59%.The business had revenue of $115.85 million during the quarter, compared to analyst estimates of $115.02 million. During the same period in the prior year, the company posted $0.28 EPS. The business's revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities analysts expect that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Power Integrations's dividend payout ratio is 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.