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New York State Common Retirement Fund Buys 24,309 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Power Integrations logo with Computer and Technology background

New York State Common Retirement Fund lifted its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 18.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 157,468 shares of the semiconductor company's stock after acquiring an additional 24,309 shares during the quarter. New York State Common Retirement Fund owned 0.28% of Power Integrations worth $7,952,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of POWI. Allworth Financial LP boosted its stake in Power Integrations by 257.8% in the first quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 428 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Power Integrations by 133.2% in the fourth quarter. Quadrant Capital Group LLC now owns 674 shares of the semiconductor company's stock valued at $42,000 after buying an additional 385 shares in the last quarter. Global X Japan Co. Ltd. bought a new position in shares of Power Integrations in the first quarter valued at $42,000. Johnson Financial Group Inc. purchased a new position in Power Integrations during the 4th quarter worth approximately $51,000. Finally, UMB Bank n.a. grew its holdings in shares of Power Integrations by 91.6% during the 1st quarter. UMB Bank n.a. now owns 1,205 shares of the semiconductor company's stock valued at $61,000 after acquiring an additional 576 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Power Integrations from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Stifel Nicolaus raised their price objective on shares of Power Integrations from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Benchmark reissued a "buy" rating and set a $70.00 price target on shares of Power Integrations in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $73.33.

Check Out Our Latest Research Report on POWI

Power Integrations Stock Down 0.1%

Shares of NASDAQ:POWI traded down $0.08 during midday trading on Tuesday, hitting $54.25. The stock had a trading volume of 102,066 shares, compared to its average volume of 478,773. The company's 50-day moving average price is $54.82 and its 200-day moving average price is $55.48. The company has a market capitalization of $3.05 billion, a P/E ratio of 83.44, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31. Power Integrations, Inc. has a fifty-two week low of $40.78 and a fifty-two week high of $75.57.

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

Power Integrations Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Friday, May 30th. Power Integrations's payout ratio is 129.23%.

Power Integrations Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

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