AQR Capital Management LLC Raises Holdings in Power Integrations, Inc. $POWI

Key Points

• AQR Capital Management LLC increased its holdings in Power Integrations by 22.2% during the first quarter, now owning approximately 0.19% of the company worth $5.5 million.
• Power Integrations reported earnings of $0.35 per share, surpassing analyst expectations, with revenues of $115.85 million, marking a 9.1% year-over-year growth.
• The company announced a quarterly dividend of $0.21 per share, with an annualized yield of 1.9%, although its dividend payout ratio stands at a high 144.83%.

AQR Capital Management LLC lifted its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 22.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,752 shares of the semiconductor company's stock after buying an additional 19,938 shares during the period. AQR Capital Management LLC owned about 0.19% of Power Integrations worth $5,486,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of POWI. Invesco Ltd. lifted its position in shares of Power Integrations by 1,345.8% during the 1st quarter. Invesco Ltd. now owns 1,314,208 shares of the semiconductor company's stock valued at $66,367,000 after buying an additional 1,223,310 shares during the last quarter. American Century Companies Inc. bought a new position in Power Integrations in the 1st quarter worth about $36,919,000. ASR Vermogensbeheer N.V. bought a new position in Power Integrations in the 1st quarter worth about $14,215,000. Stephens Investment Management Group LLC boosted its holdings in shares of Power Integrations by 30.5% in the 1st quarter. Stephens Investment Management Group LLC now owns 738,976 shares of the semiconductor company's stock worth $37,318,000 after purchasing an additional 172,530 shares in the last quarter. Finally, Congress Asset Management Co. boosted its holdings in shares of Power Integrations by 16.8% in the 1st quarter. Congress Asset Management Co. now owns 737,134 shares of the semiconductor company's stock worth $37,225,000 after purchasing an additional 105,995 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on POWI. Susquehanna reduced their price target 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. Wall Street Zen lowered Power Integrations from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Benchmark reduced their target price on Power Integrations from $70.00 to $55.00 and set a "buy" rating for the company in a report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $61.67.

Power Integrations Stock Up 2.2%

Shares of Power Integrations stock traded up $0.98 during trading on Thursday, reaching $45.57. The company's stock had a trading volume of 575,585 shares, compared to its average volume of 521,066. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 78.57, a P/E/G ratio of 2.92 and a beta of 1.38. Power Integrations, Inc. has a 1-year low of $39.53 and a 1-year high of $69.53. The company has a 50-day simple moving average of $47.98 and a two-hundred day simple moving average of $51.17.

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

Power Integrations Announces Dividend

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

Insider Activity at Power Integrations

In related news, VP Gagan Jain sold 2,036 shares of the company'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 transaction, the vice president directly owned 18,812 shares in the company, valued at approximately $866,292.60. This represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Doug Bailey sold 16,989 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $46.41, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,014 shares of company stock valued at $1,678,322. 1.40% of the stock is owned by company insiders.

About Power Integrations

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.