Power Integrations, Inc. $POWI Shares Purchased by WCM Investment Management LLC

Key Points

• WCM Investment Management LLC increased its holdings in Power Integrations by 5.9%, now owning 260,629 shares worth approximately $14.53 million.
• Power Integrations experienced analyst downgrades, with a "hold" rating downgraded from "buy" and a target price revised from $70 to $55.
• The company declared a quarterly dividend of $0.21 per share, yielding 1.8%, despite a high payout ratio of 144.83%.

WCM Investment Management LLC lifted its position in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,629 shares of the semiconductor company's stock after acquiring an additional 14,441 shares during the period. WCM Investment Management LLC owned 0.46% of Power Integrations worth $14,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Power Integrations by 1.2% in the first quarter. Victory Capital Management Inc. now owns 17,385 shares of the semiconductor company's stock valued at $878,000 after purchasing an additional 200 shares during the period. Bayforest Capital Ltd raised its position in Power Integrations by 54.3% in the first 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. Baird Financial Group Inc. raised its position in Power Integrations by 5.4% in the first quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company's stock valued at $255,000 after purchasing an additional 261 shares during the period. Bessemer Group Inc. raised its position in Power Integrations by 4.1% in the first quarter. Bessemer Group Inc. now owns 6,769 shares of the semiconductor company's stock valued at $342,000 after purchasing an additional 269 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Power Integrations by 8.2% in the first quarter. PNC Financial Services Group Inc. now owns 4,493 shares of the semiconductor company's stock valued at $227,000 after purchasing an additional 339 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen downgraded Power Integrations from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Benchmark restated a "buy" rating and issued a $55.00 target price on shares of Power Integrations in a research report on Tuesday, September 23rd. Weiss Ratings restated a "sell (d+)" rating on shares of Power Integrations in a research report on Wednesday, October 8th. Finally, Susquehanna cut their price objective on Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $61.67.

Insider Buying and Selling at Power Integrations

In related news, VP Gagan Jain sold 2,036 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $46.05, for a total transaction of $93,757.80. Following the completion of the transaction, the vice president directly owned 18,812 shares of the company's stock, valued at $866,292.60. The trade was a 9.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Doug Bailey sold 16,989 shares of the business'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 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 disclosure for this sale can be found here. Insiders have sold a total of 36,470 shares of company stock valued at $1,697,214 over the last three months. 1.40% of the stock is currently owned by insiders.

Power Integrations Trading Down 3.7%

POWI stock opened at $47.03 on Friday. Power Integrations, Inc. has a 12-month low of $34.55 and a 12-month high of $69.53. The company has a market capitalization of $2.64 billion, a PE ratio of 81.09, a P/E/G ratio of 3.19 and a beta of 1.37. The business's fifty day moving average price is $43.65 and its 200 day moving average price is $49.00.

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

Power Integrations Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, August 29th were 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 of this dividend was Friday, August 29th. Power Integrations's payout ratio is presently 144.83%.

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.

Want to see what other hedge funds are holding POWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Power Integrations, Inc. (NASDAQ:POWI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.