Handelsbanken Fonder AB Decreases Position in Power Integrations, Inc. $POWI

Key Points

• Handelsbanken Fonder AB cut its Power Integrations position by 85% in the second quarter, selling 125,831 shares and retaining 22,202 shares valued at approximately $1.86 million.
• Power Integrations exceeded quarterly expectations, reporting $0.37 in EPS versus a $0.32 estimate and $118.94 million in revenue, up 2.6% year over year. The stock opened at $62.10, while its consensus analyst rating remained “Hold” with a $72.67 target price.
• Company insiders sold 327,877 shares worth approximately $26.8 million over the past 90 days; meanwhile, several analysts maintained “Buy” ratings despite reducing their price targets to around $80.

Handelsbanken Fonder AB trimmed its holdings in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 85.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,202 shares of the semiconductor company's stock after selling 125,831 shares during the quarter. Handelsbanken Fonder AB's holdings in Power Integrations were worth $1,860,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Baird Financial Group Inc. boosted its holdings in shares of Power Integrations by 5.4% in the 1st quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company's stock valued at $255,000 after buying an additional 261 shares in the last quarter. Royal Bank of Canada lifted its position in Power Integrations by 5.0% in the first quarter. Royal Bank of Canada now owns 75,792 shares of the semiconductor company's stock valued at $3,827,000 after acquiring an additional 3,622 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Power Integrations by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,680 shares of the semiconductor company's stock valued at $1,701,000 after acquiring an additional 1,461 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Power Integrations by 14.9% in the first quarter. Goldman Sachs Group Inc. now owns 572,360 shares of the semiconductor company's stock valued at $28,904,000 after acquiring an additional 74,107 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Power Integrations by 15.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,754 shares of the semiconductor company's stock worth $8,825,000 after purchasing an additional 23,389 shares during the last quarter.

Power Integrations Stock Down 1.0%

Shares of POWI stock opened at $62.10 on Tuesday. The stock has a market capitalization of $3.47 billion, a PE ratio of 138.00 and a beta of 1.58. Power Integrations, Inc. has a 52-week low of $30.86 and a 52-week high of $91.18. The stock's 50-day moving average price is $71.33 and its 200 day moving average price is $62.91.

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

Insiders Place Their Bets

In related news, Director Nicholas Brathwaite sold 6,655 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $82.71, for a total transaction of $550,435.05. Following the transaction, the director owned 23,954 shares of the company's stock, valued at $1,981,235.34. This represents a 21.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Sunil Gupta sold 15,894 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $82.18, for a total transaction of $1,306,168.92. Following the completion of the transaction, the vice president owned 71,239 shares of the company's stock, valued at $5,854,421.02. This represents a 18.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 327,877 shares of company stock worth $26,823,268. Company insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Needham & Company LLC reduced their target price on Power Integrations from $90.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Stifel Nicolaus cut their price target on Power Integrations from $95.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Wall Street Zen upgraded Power Integrations from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Power Integrations in a report on Friday, May 8th. Finally, Williams Trading set a $80.00 target price on shares of Power Integrations in a research report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $72.67.

Power Integrations Company Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company's products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm's product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.

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