Ceredex Value Advisors LLC Sells 315,650 Shares of Power Integrations, Inc. $POWI

Key Points

• Ceredex Value Advisors LLC has reduced its ownership in Power Integrations, Inc. by 53.8%, selling 315,650 shares and now holds 271,000 shares valued at approximately $13.7 million.
• Power Integrations recently declared a quarterly dividend of $0.21 per share, resulting in an annualized dividend of $0.84 and a yield of 1.8%, with a payout ratio of 144.83%.
• Analysts have set a new consensus price target of $61.67 for Power Integrations, with three ratings categorized as "Buy" despite recent downgrades from firms like Benchmark and Susquehanna.

Ceredex Value Advisors LLC lowered its stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 53.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 271,000 shares of the semiconductor company's stock after selling 315,650 shares during the quarter. Ceredex Value Advisors LLC owned 0.48% of Power Integrations worth $13,686,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Allworth Financial LP increased its stake in shares of Power Integrations by 257.8% in the 1st quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 428 shares in the last quarter. Bayforest Capital Ltd increased its stake in shares of 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 in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Power Integrations by 841.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 781 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 698 shares in the last quarter. Global X Japan Co. Ltd. bought a new stake in shares of Power Integrations in the 1st quarter valued at $42,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Power Integrations in the 4th quarter valued at $51,000.

Power Integrations Price Performance

POWI opened at $46.51 on Tuesday. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 80.19, a P/E/G ratio of 3.10 and a beta of 1.31. The firm's fifty day moving average price is $52.11 and its two-hundred day moving average price is $53.10. Power Integrations, Inc. has a 1 year low of $39.53 and a 1 year high of $69.53.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted 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. The firm had revenue of $115.85 million for 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 business's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 EPS. As a group, equities analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity at Power Integrations

In related news, VP Gagan Jain sold 2,036 shares of the company's stock in a transaction that occurred 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 in the company, valued at approximately $866,292.60. This represents a 9.77% decrease in their ownership of the stock. 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 the company's stock in a transaction that occurred 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 owned 50,798 shares in the company, valued at approximately $2,357,535.18. This trade 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. 1.40% of the stock is owned by company insiders.

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.

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