Copeland Capital Management LLC Sells 26,034 Shares of Power Integrations, Inc. $POWI

Key Points

• Copeland Capital Management reduced its Power Integrations stake by 2.9%, selling 26,034 shares in the third quarter but retaining 856,776 shares worth approximately $44.4 million, or 1.53% of the company.
• Analyst sentiment remains moderately positive: four analysts rate POWI a Buy and four rate it a Hold, producing a consensus “Moderate Buy” rating and a $71.33 price target. Several firms recently lowered their targets, while Zacks downgraded the stock to Hold.
• Power Integrations exceeded quarterly expectations, reporting $0.37 in EPS versus the $0.32 consensus and $118.94 million in revenue, up 2.6% year over year. Shares opened at $46.70, well below their 52-week high of $91.18.

Copeland Capital Management LLC trimmed its stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 856,776 shares of the semiconductor company's stock after selling 26,034 shares during the period. Copeland Capital Management LLC owned 1.53% of Power Integrations worth $44,381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Harbor Investment Advisory LLC bought a new stake in Power Integrations during the 2nd quarter valued at approximately $33,000. EverSource Wealth Advisors LLC grew its holdings in shares of Power Integrations by 125.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 814 shares of the semiconductor company's stock worth $42,000 after acquiring an additional 453 shares during the period. Allworth Financial LP bought a new position in shares of Power Integrations in the 2nd quarter worth approximately $42,000. Global Retirement Partners LLC bought a new position in shares of Power Integrations in the 2nd quarter worth approximately $44,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of Power Integrations in the 2nd quarter valued at approximately $48,000.

Analyst Ratings Changes

POWI has been the subject of several research reports. Williams Trading set a $80.00 price target on shares of Power Integrations in a research note on Thursday, August 6th. Zacks Research lowered shares of Power Integrations from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Needham & Company LLC cut their price objective on shares of Power Integrations from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Stifel Nicolaus decreased their target price on shares of Power Integrations from $80.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, October 5th. Finally, Wall Street Zen raised shares of Power Integrations from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.33.

Power Integrations Stock Performance

Shares of Power Integrations stock opened at $46.70 on Wednesday. The stock has a market capitalization of $2.61 billion, a PE ratio of 71.38 and a beta of 1.54. Power Integrations, Inc. has a 52-week low of $30.86 and a 52-week high of $91.18. The company has a 50-day simple moving average of $53.45 and a two-hundred day simple moving average of $64.18.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. Power Integrations had a net margin of 5.58% and a return on equity of 5.50%. The firm had revenue of $118.94 million for the quarter, compared to analysts' expectations of $117.44 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The business's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities research analysts forecast that Power Integrations, Inc. will post 0.77 EPS for the current fiscal year.

About Power Integrations

Power Integrations, Inc is a semiconductor company that designs and manufactures high-performance power-conversion technologies. Its products are used to convert and manage electrical power in applications such as consumer electronics, appliances, industrial equipment, communications systems, renewable-energy installations and automotive systems.

The company's product portfolio includes integrated circuits for AC-to-DC and DC-to-DC power supplies, LED lighting drivers, power-factor-correction systems, high-voltage gate drivers and motor-drive applications.

Want to see what other hedge funds are holding POWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Power Integrations, Inc. (NASDAQ:POWI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.