Power Integrations, Inc. (NASDAQ:POWI) Shares Acquired by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its holdings in Power Integrations by 208.2% in the first quarter, owning 11,169 shares valued at $564,000.
• Several institutional investors, including Allworth Financial LP and Quadrant Capital Group LLC, have also significantly raised their stakes in Power Integrations during the past quarters.
• Power Integrations recently announced a quarterly dividend of $0.21, which translates to an annualized dividend of $0.84 and a yield of 1.9%.

Mackenzie Financial Corp raised its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 208.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,169 shares of the semiconductor company's stock after acquiring an additional 7,545 shares during the period. Mackenzie Financial Corp's holdings in Power Integrations were worth $564,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in POWI. Geode Capital Management LLC boosted its stake in shares of Power Integrations by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,604,230 shares of the semiconductor company's stock valued at $99,000,000 after purchasing an additional 28,793 shares during the period. Capital International Investors lifted its stake in Power Integrations by 5.8% in the fourth quarter. Capital International Investors now owns 1,503,132 shares of the semiconductor company's stock worth $92,743,000 after acquiring an additional 82,681 shares during the last quarter. Northern Trust Corp lifted its stake in Power Integrations by 9.1% in the fourth quarter. Northern Trust Corp now owns 996,040 shares of the semiconductor company's stock worth $61,456,000 after acquiring an additional 83,186 shares during the last quarter. Snyder Capital Management L P lifted its stake in Power Integrations by 22.3% in the fourth quarter. Snyder Capital Management L P now owns 882,518 shares of the semiconductor company's stock worth $54,451,000 after acquiring an additional 160,784 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in Power Integrations by 30.5% in the first quarter. Stephens Investment Management Group LLC now owns 738,976 shares of the semiconductor company's stock worth $37,318,000 after acquiring an additional 172,530 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts recently issued reports on POWI shares. Stifel Nicolaus lifted their price target on shares of Power Integrations from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Benchmark decreased their price target on shares of Power Integrations from $70.00 to $55.00 and set a "buy" rating for the company in a research note on Monday. Wall Street Zen downgraded shares of Power Integrations from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Susquehanna decreased their price target on shares of Power Integrations from $70.00 to $55.00 and set a "positive" rating for the company in a research note on Thursday. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $66.25.

Power Integrations Price Performance

Shares of NASDAQ:POWI traded up $0.30 during trading on Monday, hitting $44.48. 506,156 shares of the company were exchanged, compared to its average volume of 548,101. The stock has a market capitalization of $2.50 billion, a P/E ratio of 76.70, a PEG ratio of 2.10 and a beta of 1.31. Power Integrations, Inc. has a 12-month low of $39.53 and a 12-month high of $69.53. The firm's 50 day moving average price is $54.04 and its 200-day moving average price is $54.20.

Power Integrations (NASDAQ:POWI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $115.85 million during the quarter, compared to the consensus estimate of $115.02 million. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The company's revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. As a group, equities research analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Dividend Announcement

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

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.