Algert Global LLC Has $3.48 Million Stake 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 grew its holdings in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 185.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,856 shares of the semiconductor company's stock after purchasing an additional 44,725 shares during the quarter. Algert Global LLC owned about 0.12% of Power Integrations worth $3,477,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP boosted its stake in Power Integrations by 257.8% during the 1st quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 428 shares during the period. Bayforest Capital Ltd boosted its stake in 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 purchasing an additional 222 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Power Integrations by 841.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 781 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 698 shares during the period. Global X Japan Co. Ltd. bought a new stake in Power Integrations during the 1st quarter valued at approximately $42,000. Finally, Larson Financial Group LLC bought a new stake in Power Integrations during the 1st quarter valued at approximately $45,000.

Power Integrations Trading Up 5.3%

NASDAQ POWI traded up $2.37 on Friday, reaching $47.42. The company's stock had a trading volume of 552,429 shares, compared to its average volume of 715,080. The firm has a market cap of $2.66 billion, a PE ratio of 81.76, a price-to-earnings-growth ratio of 2.95 and a beta of 1.31. The business has a 50-day moving average price of $52.32 and a 200 day moving average price of $53.30. Power Integrations, Inc. has a 52 week low of $39.53 and a 52 week high of $69.53.

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

Power Integrations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.8%. Power Integrations's dividend payout ratio (DPR) is 144.83%.

Insider Transactions at Power Integrations

In related news, VP Gagan Jain sold 2,036 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $46.05, for a total transaction of $93,757.80. Following the completion of the sale, the vice president owned 18,812 shares in the company, valued at $866,292.60. This trade represents a 9.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Doug Bailey sold 16,989 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $46.41, for a total transaction of $788,459.49. Following the sale, the vice president owned 50,798 shares of the company's stock, valued at $2,357,535.18. This trade represents a 25.06% decrease in their position. 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 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Stifel Nicolaus increased their target price on Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Wall Street Zen downgraded Power Integrations from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Benchmark decreased their target price on Power Integrations from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Finally, Susquehanna decreased their target price on Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a research report on Thursday, August 7th. Three 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 a consensus 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.