Millennium Management LLC Trims Stock Position in Power Integrations, Inc. (NASDAQ:POWI)

Millennium Management LLC cut its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 42.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 229,763 shares of the semiconductor company's stock after selling 166,298 shares during the quarter. Millennium Management LLC owned approximately 0.40% of Power Integrations worth $14,176,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of POWI. Smartleaf Asset Management LLC increased its position in shares of Power Integrations by 110.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 537 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 282 shares during the period. UMB Bank n.a. increased its position in shares of Power Integrations by 43.9% during the fourth quarter. UMB Bank n.a. now owns 629 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 192 shares during the period. Quadrant Capital Group LLC increased its position in shares of Power Integrations by 133.2% during the fourth quarter. Quadrant Capital Group LLC now owns 674 shares of the semiconductor company's stock worth $42,000 after acquiring an additional 385 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Power Integrations during the fourth quarter worth approximately $51,000. Finally, Covestor Ltd increased its position in shares of Power Integrations by 16.9% during the fourth quarter. Covestor Ltd now owns 1,619 shares of the semiconductor company's stock worth $100,000 after acquiring an additional 234 shares during the period.

Insiders Place Their Bets

In other Power Integrations news, CFO Sandeep Nayyar sold 1,929 shares of Power Integrations stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $50.89, for a total value of $98,166.81. Following the transaction, the chief financial officer now directly owns 107,357 shares of the company's stock, valued at approximately $5,463,397.73. The trade was a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Balu Balakrishnan sold 9,544 shares of Power Integrations stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $51.19, for a total transaction of $488,557.36. Following the sale, the chief executive officer now owns 590,580 shares of the company's stock, valued at $30,231,790.20. The trade was a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,561 shares of company stock valued at $642,092. 1.40% of the stock is currently owned by insiders.

Power Integrations Stock Down 1.3%

Shares of POWI opened at $50.51 on Friday. The company has a 50 day moving average of $50.24 and a two-hundred day moving average of $58.05. Power Integrations, Inc. has a twelve month low of $40.78 and a twelve month high of $79.13. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 88.62, a price-to-earnings-growth ratio of 4.08 and a beta of 1.31.

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 (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. Power Integrations had a net margin of 7.69% and a return on equity of 4.48%. The business had revenue of $105.53 million for the quarter, compared to analyst estimates of $105.44 million. During the same period in the previous year, the company earned $0.18 earnings per share. The business's revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts expect that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, May 30th. Power Integrations's dividend payout ratio is currently 129.23%.

Analyst Ratings Changes

POWI has been the topic of a number of research reports. Benchmark reaffirmed a "buy" rating and set a $78.00 target price on shares of Power Integrations in a research report on Friday, February 7th. Stifel Nicolaus lifted their price objective on shares of Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Finally, Wall Street Zen raised shares of Power Integrations from a "hold" rating to a "buy" rating in a report on Thursday. Two investment 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 data from MarketBeat.com, Power Integrations presently has an average rating of "Moderate Buy" and a consensus price target of $74.67.

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.

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