AlphaQuest LLC Raises Stock Position in Power Integrations, Inc. $POWI

Key Points

• AlphaQuest LLC significantly increased its stake in Power Integrations by 233.2% during Q1, owning 11,617 shares valued at $587,000.
• A number of hedge funds have also raised their positions, with Tower Research Capital and Pinebridge Investments increasing their stakes by 136.4% and 42.7% respectively during the last quarter.
• Power Integrations recently declared a quarterly dividend of $0.21, scheduled for payment on September 30th, representing a 1.8% dividend yield; however, it has a high payout ratio of 144.83%.

AlphaQuest LLC increased its position in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 233.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,617 shares of the semiconductor company's stock after buying an additional 8,131 shares during the period. AlphaQuest LLC's holdings in Power Integrations were worth $587,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new stake in shares of Power Integrations in the first quarter valued at about $1,452,000. SG Americas Securities LLC acquired a new stake in shares of Power Integrations in the first quarter valued at about $344,000. GAMMA Investing LLC grew its position in shares of Power Integrations by 243.2% in 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 during the period. Savvy Advisors Inc. acquired a new stake in shares of Power Integrations in the first quarter valued at about $630,000. Finally, Sei Investments Co. grew its position in shares of Power Integrations by 7.1% in the first quarter. Sei Investments Co. now owns 103,425 shares of the semiconductor company's stock valued at $5,223,000 after purchasing an additional 6,827 shares during the period.

Power Integrations Stock Performance

Shares of NASDAQ:POWI traded down $1.24 during midday trading on Friday, hitting $45.10. The company's stock had a trading volume of 442,676 shares, compared to its average volume of 664,473. The business's 50 day simple moving average is $51.48 and its 200 day simple moving average is $52.74. The company has a market cap of $2.53 billion, a P/E ratio of 77.76, a price-to-earnings-growth ratio of 2.95 and a beta of 1.38. Power Integrations, Inc. has a 12-month low of $39.53 and a 12-month high of $69.53.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $115.85 million for the quarter, compared to the consensus estimate of $115.02 million. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The company's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. On average, sell-side analysts predict that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

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

Insider Activity

In other Power Integrations news, VP Doug Bailey sold 16,989 shares of Power Integrations stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $46.41, for a total transaction of $788,459.49. Following the transaction, the vice president directly owned 50,798 shares of the company's stock, valued at $2,357,535.18. The trade was a 25.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gagan Jain sold 2,036 shares of Power Integrations stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $46.05, for a total transaction of $93,757.80. Following the transaction, the vice president directly owned 18,812 shares in the company, valued at $866,292.60. This trade represents a 9.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,014 shares of company stock worth $1,678,322. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

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

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.