Foresight Group Ltd Liability Partnership Makes New Investment in Power Integrations, Inc. $POWI

Key Points

• Foresight Group Ltd Liability Partnership acquired 223,198 shares of Power Integrations, Inc., valued at approximately $11.27 million, making it the 26th largest holding in their portfolio.
• Power Integrations recently announced a quarterly dividend of $0.21 per share, which will be paid on September 30th, representing an annualized yield of 1.9%.
• The company's stock saw a 9.1% increase in quarterly revenue year-over-year, reporting $115.85 million, with earnings per share beating expectations at $0.35.

Foresight Group Ltd Liability Partnership acquired a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 223,198 shares of the semiconductor company's stock, valued at approximately $11,271,000. Power Integrations accounts for 1.6% of Foresight Group Ltd Liability Partnership's portfolio, making the stock its 26th largest holding. Foresight Group Ltd Liability Partnership owned approximately 0.40% of Power Integrations at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. raised its holdings in shares of Power Integrations by 1,345.8% during the first quarter. Invesco Ltd. now owns 1,314,208 shares of the semiconductor company's stock worth $66,367,000 after purchasing an additional 1,223,310 shares during the last quarter. Northern Trust Corp grew its position in Power Integrations by 7.9% during the 1st quarter. Northern Trust Corp now owns 1,075,076 shares of the semiconductor company's stock worth $54,291,000 after purchasing an additional 79,036 shares during the period. Stephens Investment Management Group LLC raised its stake in shares of Power Integrations by 30.5% during the 1st quarter. Stephens Investment Management Group LLC now owns 738,976 shares of the semiconductor company's stock valued at $37,318,000 after buying an additional 172,530 shares during the last quarter. Congress Asset Management Co. lifted its holdings in shares of Power Integrations by 16.8% in the 1st quarter. Congress Asset Management Co. now owns 737,134 shares of the semiconductor company's stock valued at $37,225,000 after buying an additional 105,995 shares during the period. Finally, American Century Companies Inc. purchased a new stake in shares of Power Integrations in the first quarter worth about $36,919,000.

Power Integrations Price Performance

Shares of POWI stock opened at $44.48 on Thursday. Power Integrations, Inc. has a 1-year low of $39.53 and a 1-year high of $69.53. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 76.69, a PEG ratio of 2.92 and a beta of 1.38. The stock has a 50 day simple moving average of $49.59 and a 200-day simple moving average of $51.88.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The firm had revenue of $115.85 million for the quarter, compared to analysts' expectations of $115.02 million. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 EPS. 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.9%. Power Integrations's payout ratio is currently 144.83%.

Insider Activity

In related news, VP Doug Bailey sold 16,989 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $46.41, for a total value of $788,459.49. Following the transaction, the vice president directly owned 50,798 shares of the company's stock, valued at approximately $2,357,535.18. This trade represents a 25.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Gagan Jain sold 2,036 shares of Power Integrations stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $46.05, for a total value of $93,757.80. Following the completion of the sale, the vice president owned 18,812 shares in the company, valued at approximately $866,292.60. The trade was a 9.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,014 shares of company stock valued at $1,678,322. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on POWI shares. Benchmark reduced their price target on Power Integrations from $70.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Susquehanna cut their target price on shares of Power Integrations from $70.00 to $55.00 and set a "positive" rating for the company in a 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 note on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $61.67.

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.

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