Foresight Group Ltd Liability Partnership Purchases New Shares 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 bought a new position in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 223,198 shares of the semiconductor company's stock, valued at approximately $11,271,000. Power Integrations accounts for about 1.6% of Foresight Group Ltd Liability Partnership's holdings, making the stock its 26th largest holding. Foresight Group Ltd Liability Partnership owned about 0.40% of Power Integrations at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in POWI. Mercer Global Advisors Inc. ADV purchased a new position in shares of Power Integrations in the 4th quarter valued at about $368,000. Bank of America Corp DE boosted its stake in shares of Power Integrations by 18.5% in the fourth quarter. Bank of America Corp DE now owns 401,125 shares of the semiconductor company's stock valued at $24,749,000 after buying an additional 62,750 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of Power Integrations by 18.4% during the 4th quarter. Baird Financial Group Inc. now owns 4,792 shares of the semiconductor company's stock worth $296,000 after purchasing an additional 743 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Power Integrations by 21.5% during the 4th quarter. Captrust Financial Advisors now owns 26,134 shares of the semiconductor company's stock worth $1,612,000 after acquiring an additional 4,621 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Power Integrations by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,219 shares of the semiconductor company's stock worth $1,988,000 after purchasing an additional 1,215 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on POWI shares. Benchmark reduced their target price on Power Integrations from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Wall Street Zen lowered Power Integrations from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Susquehanna cut their price target on shares of Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $61.67.

Power Integrations Trading Down 0.5%

NASDAQ POWI traded down $0.21 during trading on Tuesday, reaching $44.66. The company's stock had a trading volume of 97,986 shares, compared to its average volume of 551,651. Power Integrations, Inc. has a 1-year low of $39.53 and a 1-year high of $69.53. The business has a 50-day moving average price of $48.78 and a 200-day moving average price of $51.35. The stock has a market capitalization of $2.51 billion, a PE ratio of 76.93, a PEG ratio of 2.89 and a beta of 1.38.

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 for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Power Integrations had a return on equity of 5.86% and a net margin of 7.59%.The company had revenue of $115.85 million during the quarter, compared to analysts' expectations of $115.02 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The business's quarterly revenue was up 9.1% compared to the same quarter last year. As a group, analysts expect that Power Integrations, Inc. will post 0.93 earnings per share for the current year.

Power Integrations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Power Integrations's dividend payout ratio (DPR) is currently 144.83%.

Insider Activity at Power Integrations

In other news, VP Gagan Jain sold 2,036 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $46.05, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Doug Bailey sold 16,989 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $46.41, for a total transaction of $788,459.49. Following the transaction, the vice president owned 50,798 shares of the company's stock, valued at approximately $2,357,535.18. The trade was a 25.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,014 shares of company stock worth $1,678,322. Company insiders own 1.40% of the company's stock.

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.