Algert Global LLC Increases Position in Power Integrations, Inc. $POWI

Key Points

• Algert Global LLC significantly increased its holdings in Power Integrations, purchasing an additional 44,725 shares, bringing their total to 68,856 shares and a valuation of approximately $3.48 million.
• Power Integrations reported a quarterly earnings per share (EPS) of $0.35, exceeding analysts' expectations of $0.34, and achieved a 9.1% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.21 per share, representing an annualized dividend of $0.84 and a yield of 1.8%.

Algert Global LLC lifted its position in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 185.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,856 shares of the semiconductor company's stock after acquiring an additional 44,725 shares during the quarter. Algert Global LLC owned approximately 0.12% of Power Integrations worth $3,477,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of Power Integrations by 1.2% during the 1st quarter. Victory Capital Management Inc. now owns 17,385 shares of the semiconductor company's stock valued at $878,000 after acquiring an additional 200 shares in the last quarter. Snowden Capital Advisors LLC boosted its holdings in shares of Power Integrations by 1.8% during the 4th quarter. Snowden Capital Advisors LLC now owns 12,127 shares of the semiconductor company's stock valued at $748,000 after acquiring an additional 211 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in shares of Power Integrations by 54.3% during the 1st quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 222 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Power Integrations by 4.1% during the 1st quarter. Bessemer Group Inc. now owns 6,769 shares of the semiconductor company's stock valued at $342,000 after acquiring an additional 269 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Power Integrations by 8.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,493 shares of the semiconductor company's stock valued at $227,000 after acquiring an additional 339 shares in the last quarter.

Power Integrations Trading Down 1.9%

POWI stock traded down $0.91 during trading on Monday, reaching $46.51. 422,454 shares of the stock were exchanged, compared to its average volume of 729,640. The firm's 50 day moving average is $52.11 and its 200 day moving average is $53.10. Power Integrations, Inc. has a twelve month low of $39.53 and a twelve month high of $69.53. The firm has a market cap of $2.61 billion, a P/E ratio of 80.19, a price-to-earnings-growth ratio of 3.10 and a beta of 1.31.

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 analysts' consensus estimates of $0.34 by $0.01. Power Integrations had a return on equity of 5.86% and a net margin of 7.59%.The business had revenue of $115.85 million for the quarter, compared to the consensus estimate of $115.02 million. During the same period in the prior year, the business earned $0.28 EPS. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts predict that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The business also recently disclosed 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 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 payout ratio is currently 144.83%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Power Integrations news, VP Doug Bailey sold 16,989 shares of the business's 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 completion of the sale, the vice president directly owned 50,798 shares of the company's stock, valued at approximately $2,357,535.18. The trade was a 25.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Gagan Jain sold 2,036 shares of the business's 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 sale, the vice president directly owned 18,812 shares of the company's stock, valued at $866,292.60. This represents a 9.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,014 shares of company stock valued at $1,678,322 over the last three months. Corporate insiders own 1.40% of the company's stock.

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.