Invesco Ltd. Buys 1,223,310 Shares of Power Integrations, Inc. $POWI

Key Points

• Invesco Ltd. significantly increased its holdings in Power Integrations, purchasing an additional 1,223,310 shares and bringing its total ownership to 1,314,208 shares, valued at $66.37 million.
• Several hedge funds have boosted their stakes in Power Integrations, with Allworth Financial LP raising its holdings by 257.8% during the same quarter.
• Power Integrations declared a quarterly dividend of $0.21 per share, reflecting an annualized yield of 1.8%, despite a payout ratio of 144.83%.

Invesco Ltd. lifted its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 1,345.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,314,208 shares of the semiconductor company's stock after purchasing an additional 1,223,310 shares during the period. Invesco Ltd. owned about 2.31% of Power Integrations worth $66,367,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Capital International Investors raised its stake in shares of Power Integrations by 5.8% during the 4th quarter. Capital International Investors now owns 1,503,132 shares of the semiconductor company's stock worth $92,743,000 after purchasing an additional 82,681 shares during the period. Northern Trust Corp raised its stake in shares of Power Integrations by 9.1% during the 4th quarter. Northern Trust Corp now owns 996,040 shares of the semiconductor company's stock worth $61,456,000 after purchasing an additional 83,186 shares during the period. Snyder Capital Management L P raised its stake in shares of Power Integrations by 22.3% during the 4th quarter. Snyder Capital Management L P now owns 882,518 shares of the semiconductor company's stock worth $54,451,000 after purchasing an additional 160,784 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 worth $37,318,000 after purchasing an additional 172,530 shares during the period. Finally, Congress Asset Management Co. raised its stake in shares of Power Integrations by 16.8% during the 1st quarter. Congress Asset Management Co. now owns 737,134 shares of the semiconductor company's stock worth $37,225,000 after purchasing an additional 105,995 shares during the period.

Power Integrations Price Performance

Shares of POWI traded down $0.55 during midday trading on Thursday, hitting $45.05. 666,321 shares of the company traded hands, compared to its average volume of 703,048. The stock has a 50-day moving average of $52.47 and a 200-day moving average of $53.40. Power Integrations, Inc. has a one year low of $39.53 and a one year high of $69.53. The firm has a market cap of $2.53 billion, a P/E ratio of 77.67, a PEG ratio of 2.98 and a beta of 1.31.

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, beating the consensus estimate of $0.34 by $0.01. Power Integrations had a return on equity of 5.86% and a net margin of 7.59%.The firm had revenue of $115.85 million for the quarter, compared to analysts' expectations of $115.02 million. During the same period in the prior year, the business posted $0.28 earnings per share. The company's revenue was up 9.1% on a year-over-year basis. Sell-side analysts forecast that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The business 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 dividend of $0.21 per share. The ex-dividend date is Friday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 1.9%. Power Integrations's dividend payout ratio is currently 144.83%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on POWI. Wall Street Zen cut Power Integrations from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Stifel Nicolaus boosted their price objective on Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Benchmark lowered their price objective 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. Finally, Susquehanna lowered their price objective on Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $61.67.

Insider Activity

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

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.