Power Integrations, Inc. (NASDAQ:POWI) Stock Holdings Lifted by Congress Asset Management Co.

Congress Asset Management Co. grew its position in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 16.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 737,134 shares of the semiconductor company's stock after purchasing an additional 105,995 shares during the period. Congress Asset Management Co. owned approximately 1.30% of Power Integrations worth $37,225,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Power Integrations during the fourth quarter valued at about $288,000. Charles Schwab Investment Management Inc. increased its stake in Power Integrations by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 654,973 shares of the semiconductor company's stock valued at $40,412,000 after buying an additional 33,741 shares during the period. Bank of America Corp DE raised its position in shares of Power Integrations by 18.5% during the 4th quarter. Bank of America Corp DE now owns 401,125 shares of the semiconductor company's stock worth $24,749,000 after buying an additional 62,750 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Power Integrations in the 4th quarter worth approximately $7,470,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Power Integrations by 6.2% in the fourth quarter. Wells Fargo & Company MN now owns 115,956 shares of the semiconductor company's stock valued at $7,154,000 after acquiring an additional 6,750 shares in the last quarter.

Wall Street Analyst Weigh In

POWI has been the topic of several recent analyst reports. Wall Street Zen cut Power Integrations from a "buy" rating to a "hold" rating in a report on Saturday, May 31st. Stifel Nicolaus lifted 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 assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.67.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, CEO Balu Balakrishnan sold 9,544 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $51.19, for a total transaction of $488,557.36. Following the completion of the sale, the chief executive officer now directly owns 590,580 shares in the company, valued at approximately $30,231,790.20. This trade represents a 1.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sandeep Nayyar sold 1,929 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $50.89, for a total transaction of $98,166.81. Following the completion of the sale, the chief financial officer now directly owns 107,357 shares of the company's stock, valued at $5,463,397.73. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,561 shares of company stock valued at $642,092. 1.40% of the stock is currently owned by corporate insiders.

Power Integrations Trading Up 3.9%

POWI stock traded up $2.11 on Monday, hitting $56.85. 418,180 shares of the company's stock traded hands, compared to its average volume of 477,977. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 99.74, a P/E/G ratio of 4.08 and a beta of 1.29. Power Integrations, Inc. has a 1-year low of $40.78 and a 1-year high of $79.13. The stock has a fifty day moving average of $49.55 and a 200-day moving average of $57.07.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The semiconductor company reported $0.31 earnings per share for the quarter, topping 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 return on equity of 4.48% and a net margin of 7.69%. The company's revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company posted $0.18 EPS. On average, equities research analysts anticipate that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

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 issued a dividend of $0.21 per share. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 1.48%. Power Integrations's payout ratio is presently 129.23%.

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.