Madison Asset Management LLC Boosts Stake in Power Integrations, Inc. (NASDAQ:POWI)

Madison Asset Management LLC raised its stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 21.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,726 shares of the semiconductor company's stock after purchasing an additional 18,290 shares during the period. Madison Asset Management LLC owned about 0.18% of Power Integrations worth $5,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Power Integrations in the 1st quarter valued at about $463,000. Allianz Asset Management GmbH increased its holdings in shares of Power Integrations by 114.3% in the 1st quarter. Allianz Asset Management GmbH now owns 75,658 shares of the semiconductor company's stock valued at $3,821,000 after acquiring an additional 40,354 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Power Integrations by 1.2% during the first quarter. Victory Capital Management Inc. now owns 17,385 shares of the semiconductor company's stock worth $878,000 after buying an additional 200 shares during the period. Larson Financial Group LLC purchased a new position in shares of Power Integrations during the first quarter worth about $45,000. Finally, Stephens Investment Management Group LLC raised its stake in 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 valued at $37,318,000 after acquiring an additional 172,530 shares during the last quarter.

Power Integrations Trading Down 0.8%

Shares of NASDAQ POWI traded down $0.41 during trading on Friday, reaching $52.01. The company had a trading volume of 261,218 shares, compared to its average volume of 372,696. Power Integrations, Inc. has a twelve month low of $40.78 and a twelve month high of $74.93. The stock has a market capitalization of $2.93 billion, a PE ratio of 80.02, a price-to-earnings-growth ratio of 2.13 and a beta of 1.31. The stock has a 50-day moving average price of $54.58 and a two-hundred day moving average price of $55.21.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The semiconductor company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.03. The company had revenue of $105.53 million during the quarter, compared to analysts' expectations of $105.44 million. Power Integrations had a return on equity of 5.12% and a net margin of 8.56%. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share. On average, sell-side analysts predict that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Friday, May 30th. Power Integrations's dividend payout ratio is currently 129.23%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen upgraded Power Integrations from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Stifel Nicolaus lifted their target price on Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Benchmark reiterated a "buy" rating and issued a $70.00 target price on shares of Power Integrations in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $73.33.

About Power Integrations

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.