Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in Power Integrations, Inc. $POWI

Key Points

• Connor Clark & Lunn acquired 409,271 shares of Power Integrations in the second quarter, worth approximately $34.3 million and representing about 0.73% of the company. Several other institutional investors also initiated positions.
• Power Integrations insiders sold 132,875 shares worth roughly $11.5 million over the past three months, including substantial sales by directors Balu Balakrishnan and Nicholas Brathwaite.
• POWI shares opened at $53.18, down 3.6%, despite the company beating quarterly earnings and revenue estimates. Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $72.67.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 409,271 shares of the semiconductor company's stock, valued at approximately $34,281,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.73% of Power Integrations at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Power Integrations during the 2nd quarter worth about $48,000. William Blair Investment Management LLC bought a new stake in shares of Power Integrations in the 2nd quarter valued at approximately $199,517,000. Avanda Investment Management Pte. Ltd. acquired a new position in Power Integrations in the second quarter worth approximately $1,047,000. Allworth Financial LP acquired a new position in Power Integrations in the second quarter worth approximately $42,000. Finally, Ceredex Value Advisors LLC bought a new position in Power Integrations during the second quarter valued at approximately $13,519,000.

Insider Transactions at Power Integrations

In other news, Director Nicholas Brathwaite sold 1,728 shares of Power Integrations stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $86.62, for a total transaction of $149,679.36. Following the sale, the director directly owned 22,226 shares in the company, valued at approximately $1,925,216.12. The trade was a 7.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Balu Balakrishnan sold 124,287 shares of Power Integrations stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $86.44, for a total transaction of $10,743,368.28. Following the sale, the director owned 279,516 shares in the company, valued at approximately $24,161,363.04. This trade represents a 30.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 132,875 shares of company stock valued at $11,467,024. Company insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on POWI. Needham & Company LLC decreased their target price on shares of Power Integrations from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Power Integrations from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 19th. Zacks Research lowered shares of Power Integrations from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Williams Trading set a $80.00 price objective on shares of Power Integrations in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Power Integrations in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Power Integrations presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.67.

Power Integrations Trading Down 3.6%

Shares of NASDAQ POWI opened at $53.18 on Tuesday. The business has a fifty day simple moving average of $69.11 and a 200 day simple moving average of $63.23. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 118.18 and a beta of 1.58. Power Integrations, Inc. has a one year low of $30.86 and a one year high of $91.18.

Power Integrations (NASDAQ:POWI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The firm had revenue of $118.94 million during the quarter, compared to analysts' expectations of $117.44 million. Power Integrations had a return on equity of 5.50% and a net margin of 5.58%.Power Integrations's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.35 earnings per share. On average, research analysts anticipate that Power Integrations, Inc. will post 0.77 earnings per share for the current fiscal year.

About Power Integrations

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company's products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm's product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.

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