Edgestream Partners L.P. Sells 48,269 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Edgestream Partners L.P. lowered its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 63.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,097 shares of the semiconductor company's stock after selling 48,269 shares during the quarter. Edgestream Partners L.P.'s holdings in Power Integrations were worth $1,419,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in POWI. Raymond James Financial Inc. bought a new stake in shares of Power Integrations during the fourth quarter valued at about $7,470,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Power Integrations by 3.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,277 shares of the semiconductor company's stock valued at $881,000 after acquiring an additional 416 shares in the last quarter. Swiss National Bank grew its stake in shares of Power Integrations by 0.8% in the 4th quarter. Swiss National Bank now owns 111,800 shares of the semiconductor company's stock valued at $6,898,000 after buying an additional 900 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in shares of Power Integrations in the 4th quarter valued at approximately $5,210,000. Finally, Natixis Advisors LLC grew its stake in shares of Power Integrations by 44.2% in the 4th quarter. Natixis Advisors LLC now owns 16,276 shares of the semiconductor company's stock valued at $1,004,000 after buying an additional 4,990 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Benchmark reiterated a "buy" rating and set a $70.00 price target on shares of Power Integrations in a report on Wednesday. Wall Street Zen upgraded shares of Power Integrations from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Finally, Stifel Nicolaus increased their price objective on Power Integrations from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.33.

Power Integrations Stock Up 0.2%

Shares of NASDAQ POWI traded up $0.09 during midday trading on Friday, hitting $54.25. 350,385 shares of the company's stock were exchanged, compared to its average volume of 481,017. Power Integrations, Inc. has a 12 month low of $40.78 and a 12 month high of $75.57. The company's 50 day moving average price is $54.82 and its 200 day moving average price is $55.51. The firm has a market capitalization of $3.05 billion, a PE ratio of 83.46, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its earnings results on Monday, May 12th. The semiconductor company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.03. Power Integrations had a return on equity of 5.12% and a net margin of 8.56%. The firm had revenue of $105.53 million during the quarter, compared to the consensus estimate of $105.44 million. During the same period in the prior year, the company posted $0.18 EPS. The company's revenue was up 15.1% compared to the same quarter last year. On average, equities research analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were given a dividend of $0.21 per share. The ex-dividend date was Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 1.55%. Power Integrations's payout ratio is 129.23%.

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.