Lisanti Capital Growth LLC Makes New $2.91 Million Investment in Power Integrations, Inc. $POWI

Key Points

• Lisanti Capital Growth acquired 34,790 Power Integrations shares worth approximately $2.91 million, while several other major institutional investors also increased or initiated positions.
• Power Integrations reported quarterly earnings of $0.37 per share, exceeding estimates of $0.32, with revenue rising 2.6% year over year to $118.94 million.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $72.67; the stock opened at $55.79 after declining 4.8%.

Lisanti Capital Growth LLC acquired a new stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 34,790 shares of the semiconductor company's stock, valued at approximately $2,914,000. Lisanti Capital Growth LLC owned 0.06% of Power Integrations at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of POWI. BlackRock Inc. acquired a new stake in Power Integrations in the 2nd quarter valued at $730,559,000. Vanguard Group Inc. raised its stake in Power Integrations by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 7,556,919 shares of the semiconductor company's stock worth $268,573,000 after acquiring an additional 409,643 shares in the last quarter. State Street Corp lifted its holdings in shares of Power Integrations by 18.0% during the fourth quarter. State Street Corp now owns 3,400,970 shares of the semiconductor company's stock valued at $120,870,000 after acquiring an additional 518,284 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Power Integrations by 7.2% during the fourth quarter. Wellington Management Group LLP now owns 2,423,972 shares of the semiconductor company's stock valued at $86,148,000 after acquiring an additional 162,691 shares during the period. Finally, Snyder Capital Management L P boosted its stake in shares of Power Integrations by 148.8% in the 4th quarter. Snyder Capital Management L P now owns 2,064,707 shares of the semiconductor company's stock valued at $73,380,000 after purchasing an additional 1,234,981 shares in the last quarter.

Insider Transactions at Power Integrations

In other Power Integrations news, Director Balu Balakrishnan sold 124,287 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $86.44, for a total transaction of $10,743,368.28. Following the transaction, the director directly owned 279,516 shares in the company, valued at approximately $24,161,363.04. This represents a 30.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Sunil Gupta sold 6,860 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $83.67, for a total transaction of $573,976.20. Following the completion of the transaction, the vice president directly owned 64,379 shares in the company, valued at $5,386,590.93. This trade represents a 9.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 273,997 shares of company stock worth $23,013,413 over the last 90 days. 1.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

POWI has been the subject of a number of recent analyst reports. Susquehanna increased their target price on shares of Power Integrations from $70.00 to $85.00 and gave the stock a "positive" rating in a research report on Friday, May 8th. Williams Trading set a $80.00 price objective on shares of Power Integrations in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Power Integrations in a report on Wednesday, August 5th. Needham & Company LLC cut their target price on shares of Power Integrations from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Finally, Zacks Research downgraded Power Integrations from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $72.67.

Power Integrations Trading Down 4.8%

Shares of POWI stock opened at $55.79 on Thursday. Power Integrations, Inc. has a 1 year low of $30.86 and a 1 year high of $91.18. The firm's 50 day moving average is $70.63 and its 200-day moving average is $63.05. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 123.98 and a beta of 1.58.

Power Integrations (NASDAQ:POWI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. Power Integrations had a net margin of 5.58% and a return on equity of 5.50%. The business had revenue of $118.94 million during the quarter, compared to analyst estimates of $117.44 million. During the same quarter last year, the business posted $0.35 earnings per share. Power Integrations's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Power Integrations, Inc. will post 0.77 earnings per share for the current fiscal year.

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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