Congress Asset Management Co. Buys 105,995 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Congress Asset Management Co. lifted its position in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 16.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 737,134 shares of the semiconductor company's stock after purchasing an additional 105,995 shares during the quarter. Congress Asset Management Co. owned about 1.30% of Power Integrations worth $37,225,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in POWI. Rhumbline Advisers grew its position in Power Integrations by 37.9% during the first quarter. Rhumbline Advisers now owns 252,300 shares of the semiconductor company's stock worth $12,741,000 after buying an additional 69,324 shares in the last quarter. GAMMA Investing LLC grew its holdings 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. Wealth Enhancement Advisory Services LLC raised its stake in Power Integrations by 16.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,057 shares of the semiconductor company's stock valued at $374,000 after purchasing an additional 840 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Power Integrations by 0.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 151,365 shares of the semiconductor company's stock valued at $9,339,000 after purchasing an additional 1,371 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in Power Integrations by 3.4% during the fourth quarter. Two Sigma Advisers LP now owns 12,200 shares of the semiconductor company's stock valued at $753,000 after purchasing an additional 400 shares during the last quarter.

Power Integrations Stock Performance

Shares of POWI stock traded down $0.50 on Wednesday, hitting $57.53. 164,969 shares of the company's stock traded hands, compared to its average volume of 477,698. Power Integrations, Inc. has a one year low of $40.78 and a one year high of $79.13. The company's fifty day simple moving average is $49.92 and its 200 day simple moving average is $57.03. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 100.96, a P/E/G ratio of 4.08 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.03. The business had revenue of $105.53 million during the quarter, compared to analyst estimates of $105.44 million. Power Integrations had a net margin of 7.69% and a return on equity of 4.48%. The company's revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. As a group, sell-side analysts anticipate that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a $0.21 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 1.46%. Power Integrations's payout ratio is currently 129.23%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on POWI shares. Wall Street Zen lowered shares of Power Integrations from a "buy" rating to a "hold" rating in a report on Saturday, May 31st. Stifel Nicolaus raised their price target on Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Power Integrations currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.67.

Insider Activity

In related news, CFO Sandeep Nayyar sold 1,929 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.89, for a total transaction of $98,166.81. Following the transaction, the chief financial officer now owns 107,357 shares in the company, valued at $5,463,397.73. The trade was a 1.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Balu Balakrishnan sold 9,544 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $51.19, for a total value of $488,557.36. Following the transaction, the chief executive officer now directly owns 590,580 shares of the company's stock, valued at $30,231,790.20. The trade was a 1.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,561 shares of company stock valued at $642,092. 1.40% of the stock is currently owned by company insiders.

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.