Nuveen LLC Takes $3.11 Million Position 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 bought a new stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 61,512 shares of the semiconductor company's stock, valued at approximately $3,106,000. Nuveen LLC owned 0.11% of Power Integrations at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of Power Integrations in the 1st quarter valued at about $232,000. Invesco Ltd. increased its holdings in shares of Power Integrations by 1,345.8% in the 1st quarter. Invesco Ltd. now owns 1,314,208 shares of the semiconductor company's stock valued at $66,367,000 after purchasing an additional 1,223,310 shares during the period. Global Alpha Capital Management Ltd. increased its holdings in shares of Power Integrations by 15.2% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 30,545 shares of the semiconductor company's stock valued at $1,543,000 after purchasing an additional 4,030 shares during the period. Townsquare Capital LLC increased its holdings in shares of Power Integrations by 14.9% in the 1st quarter. Townsquare Capital LLC now owns 32,509 shares of the semiconductor company's stock valued at $1,642,000 after purchasing an additional 4,212 shares during the period. Finally, Savvy Advisors Inc. acquired a new position in shares of Power Integrations in the 1st quarter valued at about $630,000.

Insider Activity at Power Integrations

In other Power Integrations news, 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 transaction of $788,459.49. Following the transaction, the vice president owned 50,798 shares in the company, valued at $2,357,535.18. This trade represents a 25.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Gagan Jain sold 2,036 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 trade represents a 9.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,014 shares of company stock worth $1,678,322. Corporate insiders own 1.40% of the company's stock.

Power Integrations Stock Down 1.4%

POWI stock traded down $0.63 during midday trading on Wednesday, hitting $43.91. 507,081 shares of the company traded hands, compared to its average volume of 631,709. Power Integrations, Inc. has a twelve month low of $39.53 and a twelve month high of $69.53. The business has a 50 day simple moving average of $50.81 and a 200-day simple moving average of $52.52. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 75.71, a price-to-earnings-growth ratio of 2.95 and a beta of 1.38.

Power Integrations (NASDAQ:POWI - Get Free Report) last announced its quarterly 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 the consensus estimate of $115.02 million. During the same quarter last year, the company posted $0.28 earnings per share. The company's revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts forecast that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

The business 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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, August 29th. Power Integrations's dividend payout ratio (DPR) is 144.83%.

Analysts Set New Price Targets

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

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.