Nuveen LLC Purchases New Holdings in Power Integrations, Inc. $POWI

Key Points

• Nuveen LLC has made a significant investment of approximately $3.11 million in Power Integrations, acquiring 61,512 shares during the first quarter.
• Power Integrations reported a 9.1% increase in quarterly revenue year-over-year, with earnings per share (EPS) of $0.35, surpassing analyst estimates.
• The company declared a quarterly dividend of $0.21 per share, with an annualized dividend yield of 1.8%, to be paid on September 30th.

Nuveen LLC purchased a new position in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 61,512 shares of the semiconductor company's stock, valued at approximately $3,106,000. Nuveen LLC owned approximately 0.11% of Power Integrations as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Allworth Financial LP raised its holdings in shares of Power Integrations by 257.8% during the 1st quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock worth $30,000 after buying an additional 428 shares in the last quarter. Bayforest Capital Ltd increased its holdings in Power Integrations by 54.3% in the 1st quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 222 shares in the last quarter. Global X Japan Co. Ltd. acquired a new position in Power Integrations in the 1st quarter worth about $42,000. Larson Financial Group LLC acquired a new position in Power Integrations in the 1st quarter worth about $45,000. Finally, UMB Bank n.a. increased its holdings in Power Integrations by 91.6% in the 1st quarter. UMB Bank n.a. now owns 1,205 shares of the semiconductor company's stock worth $61,000 after purchasing an additional 576 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on POWI. Stifel Nicolaus upped their target price on Power Integrations from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Wall Street Zen cut Power Integrations from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Susquehanna decreased their price target on Power Integrations from $70.00 to $55.00 and set a "positive" rating for the company in a research note on Thursday, August 7th. Finally, Benchmark decreased their price target on Power Integrations from $70.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $61.67.

Insider Activity at Power Integrations

In other Power Integrations news, VP Gagan Jain sold 2,036 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $46.05, for a total value of $93,757.80. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Doug Bailey sold 16,989 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $46.41, for a total value of $788,459.49. Following the completion of the transaction, the vice president owned 50,798 shares in the company, valued at approximately $2,357,535.18. The trade was a 25.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,014 shares of company stock worth $1,678,322. Corporate insiders own 1.40% of the company's stock.

Power Integrations Price Performance

Shares of Power Integrations stock traded down $1.24 on Friday, hitting $45.10. 442,676 shares of the company's stock traded hands, compared to its average volume of 676,433. Power Integrations, Inc. has a one year low of $39.53 and a one year high of $69.53. The company has a fifty day moving average of $51.48 and a two-hundred day moving average of $52.74. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 77.76, a price-to-earnings-growth ratio of 2.95 and a beta of 1.31.

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

Power Integrations Dividend Announcement

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

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.