Montanaro Asset Management Ltd Trims Stake in Power Integrations, Inc. (NASDAQ:POWI)

Key Points

• Montanaro Asset Management Ltd has significantly reduced its stake in Power Integrations, Inc. by 76.3%, now owning 45,000 shares after selling 144,654 shares in the first quarter, valuing its remaining shares at approximately $2.27 million.
• Power Integrations announced a quarterly dividend of $0.21 per share, representing an annualized dividend yield of 1.8%, despite having a high dividend payout ratio of 144.83%.
• The stock's market performance shows a 12-month low of $39.53 and a high of $69.53, with recent analyst reports adjusting price targets to a range around $55.00 to $75.00.

Montanaro Asset Management Ltd cut its stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 76.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,000 shares of the semiconductor company's stock after selling 144,654 shares during the quarter. Montanaro Asset Management Ltd owned about 0.08% of Power Integrations worth $2,272,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in Power Integrations during the first quarter valued at about $1,452,000. SG Americas Securities LLC purchased a new stake in Power Integrations during the first quarter valued at about $344,000. GAMMA Investing LLC raised its position in Power Integrations by 243.2% during the first quarter. GAMMA Investing LLC now owns 2,011 shares of the semiconductor company's stock valued at $102,000 after purchasing an additional 1,425 shares in the last quarter. New York State Common Retirement Fund raised its position in Power Integrations by 18.3% during the first quarter. New York State Common Retirement Fund now owns 157,468 shares of the semiconductor company's stock valued at $7,952,000 after purchasing an additional 24,309 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in Power Integrations during the first quarter valued at about $1,723,000.

Analyst Upgrades and Downgrades

POWI has been the topic of a number of research reports. Susquehanna lowered their price target on Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a research report on Thursday, August 7th. Stifel Nicolaus raised their price target on Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Benchmark lowered their price target on Power Integrations from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday. Finally, Wall Street Zen downgraded Power Integrations from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th.

Insider Transactions at Power Integrations

In other Power Integrations news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

Power Integrations Trading Down 2.4%

Shares of NASDAQ:POWI traded down $1.18 on Thursday, reaching $47.26. 474,916 shares of the company traded hands, compared to its average volume of 650,303. The business's 50-day simple moving average is $53.58 and its 200 day simple moving average is $53.89. Power Integrations, Inc. has a 52 week low of $39.53 and a 52 week high of $69.53. The stock has a market capitalization of $2.65 billion, a P/E ratio of 81.48, a price-to-earnings-growth ratio of 2.31 and a beta of 1.31.

Power Integrations (NASDAQ:POWI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The firm had revenue of $115.85 million for the quarter, compared to analysts' expectations of $115.02 million. Power Integrations had a return on equity of 5.86% and a net margin of 7.59%. The company's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $0.28 earnings per share. Sell-side analysts expect 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. Investors of record on Friday, August 29th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, August 29th. Power Integrations's dividend payout ratio is presently 144.83%.

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.