Envestnet Portfolio Solutions Inc. Acquires 9,410 Shares of Power Integrations, Inc. $POWI

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Power Integrations by 136.4%, acquiring an additional 9,410 shares in Q2, bringing its total holdings to 16,309 shares valued at approximately $912,000.
• Several institutional investors significantly increased their holdings in Power Integrations, with Caitong International Asset Management raising its stake by a remarkable 841.0% in the first quarter.
• Power Integrations has received mixed analyst ratings, with a consensus rating of "Moderate Buy" and an average price target of $61.67, despite one analyst downgrading it to a "hold".

Envestnet Portfolio Solutions Inc. boosted its stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 136.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,309 shares of the semiconductor company's stock after acquiring an additional 9,410 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Power Integrations were worth $912,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in POWI. Allworth Financial LP lifted its position in shares of Power Integrations by 257.8% in the 1st quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 428 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Power Integrations by 364.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 622 shares of the semiconductor company's stock worth $35,000 after buying an additional 488 shares during the period. Geneos Wealth Management Inc. boosted its position in Power Integrations by 576.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 536 shares in the last quarter. Bayforest Capital Ltd grew its holdings in shares of Power Integrations by 54.3% during the 1st quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 222 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Power Integrations by 841.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 781 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 698 shares in the last quarter.

Insider Activity at Power Integrations

In related news, VP Gagan Jain sold 2,036 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $46.05, for a total value of $93,757.80. Following the completion of the transaction, the vice president directly owned 18,812 shares in the company, valued at $866,292.60. The trade was a 9.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Doug Bailey sold 16,989 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $46.41, for a total value of $788,459.49. Following the sale, the vice president owned 50,798 shares in the company, valued at approximately $2,357,535.18. This represents a 25.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,470 shares of company stock valued at $1,697,214 in the last three months. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a "sell (d+)" rating on shares of Power Integrations in a research report on Wednesday, October 8th. Benchmark restated a "buy" rating and set a $55.00 target price on shares of Power Integrations in a report on Tuesday, September 23rd. Susquehanna reduced their target price on shares of Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a research report on Thursday, August 7th. Finally, Wall Street Zen cut shares of Power Integrations from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $61.67.

Power Integrations Trading Down 3.3%

NASDAQ POWI opened at $45.48 on Monday. Power Integrations, Inc. has a 12 month low of $34.55 and a 12 month high of $69.53. The stock's fifty day moving average price is $43.67 and its 200-day moving average price is $48.97. The stock has a market cap of $2.55 billion, a P/E ratio of 78.42, a P/E/G ratio of 2.97 and a beta of 1.37.

Power Integrations (NASDAQ:POWI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The company had revenue of $115.85 million for the quarter, compared to analysts' expectations of $115.02 million. During the same quarter in the previous year, the business posted $0.28 EPS. Power Integrations's revenue was up 9.1% compared to the same quarter last year. As a group, analysts forecast that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.8%. Power Integrations's dividend payout ratio is presently 144.83%.

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.

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