Citigroup Inc. Has $18.89 Million Holdings in Power Integrations, Inc. (NASDAQ:POWI)

Citigroup Inc. boosted its position in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 12.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 374,046 shares of the semiconductor company's stock after purchasing an additional 42,816 shares during the period. Citigroup Inc. owned about 0.66% of Power Integrations worth $18,889,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP boosted its stake in shares of Power Integrations by 257.8% during the 1st quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock worth $30,000 after buying an additional 428 shares during the last quarter. Bayforest Capital Ltd raised its holdings in Power Integrations by 54.3% during the first quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 222 shares in the last quarter. Global X Japan Co. Ltd. acquired a new position in Power Integrations during the first quarter valued at approximately $42,000. Larson Financial Group LLC acquired a new position in shares of Power Integrations during the 1st quarter worth approximately $45,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Power Integrations during the 4th quarter worth approximately $51,000.

Analysts Set New Price Targets

POWI has been the topic of several analyst reports. Stifel Nicolaus upped their price target on shares of Power Integrations from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Benchmark cut their target price 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. Wall Street Zen downgraded Power Integrations from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Susquehanna reduced their target price on Power Integrations from $70.00 to $55.00 and set a "positive" rating for the company in a research note on Thursday, August 7th.

Power Integrations Trading Up 4.8%

Power Integrations stock opened at $48.44 on Thursday. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 83.52, a PEG ratio of 2.20 and a beta of 1.31. Power Integrations, Inc. has a 12 month low of $39.53 and a 12 month high of $69.53. The stock's 50 day moving average is $53.71 and its 200-day moving average is $53.98.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The company had revenue of $115.85 million during the quarter, compared to the consensus estimate of $115.02 million. Power Integrations had a return on equity of 5.86% and a net margin of 7.59%. The company's revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 earnings per share. As a group, equities research analysts predict that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The business also recently announced 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, August 29th. Power Integrations's dividend payout ratio is presently 144.83%.

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.

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