Power Integrations, Inc. $POWI Shares Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. reduced its holdings in Power Integrations by 2.5% during the second quarter, owning 718,673 shares worth approximately $40.17 million.
• Power Integrations has a consensus rating of "Buy" among analysts, with an average price target of $61.67, despite some recent downward revisions in price objectives.
• The company reported a $0.35 EPS for the latest quarter, exceeding expectations and showing a 9.1% revenue increase year-over-year.

Congress Asset Management Co. lessened its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 2.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 718,673 shares of the semiconductor company's stock after selling 18,461 shares during the quarter. Congress Asset Management Co. owned about 1.28% of Power Integrations worth $40,174,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas acquired a new stake in shares of Power Integrations in the first quarter valued at $1,452,000. Foresight Group Ltd Liability Partnership acquired a new stake in shares of Power Integrations in the first quarter valued at $11,271,000. SG Americas Securities LLC acquired a new stake in shares of Power Integrations in the first quarter valued at $344,000. GAMMA Investing LLC lifted its holdings 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 buying an additional 1,425 shares during the period. Finally, Savvy Advisors Inc. acquired a new stake in shares of Power Integrations in the first quarter valued at $630,000.

Wall Street Analysts Forecast Growth

POWI has been the subject of several research analyst reports. Wall Street Zen lowered Power Integrations from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Benchmark restated a "buy" rating and issued a $55.00 price objective on shares of Power Integrations in a report on Tuesday. Finally, Susquehanna cut their price objective on Power Integrations from $70.00 to $55.00 and set a "positive" rating for the company in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Power Integrations presently has a consensus rating of "Buy" and an average target price of $61.67.

Insider Buying and Selling at Power Integrations

In related news, VP Gagan Jain sold 2,036 shares of the company'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 transaction, the vice president directly owned 18,812 shares of the company's stock, valued at approximately $866,292.60. The trade was a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Doug Bailey sold 16,989 shares of the company's stock in a transaction on Monday, August 18th. The shares were 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 in the company, 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 36,470 shares of company stock worth $1,697,214 over the last three months. 1.40% of the stock is owned by insiders.

Power Integrations Stock Up 1.0%

Shares of NASDAQ POWI opened at $40.02 on Friday. Power Integrations, Inc. has a 12 month low of $39.15 and a 12 month high of $69.53. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 69.00, a P/E/G ratio of 2.59 and a beta of 1.38. The business has a fifty day simple moving average of $46.32 and a 200-day simple moving average of $50.43.

Power Integrations (NASDAQ:POWI - Get Free Report) last announced its earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 EPS for the quarter, beating 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 business had revenue of $115.85 million during the quarter, compared to the consensus estimate of $115.02 million. During the same period in the prior year, the business posted $0.28 earnings per share. Power Integrations's revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts expect that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 29th. Power Integrations's dividend payout ratio is currently 144.83%.

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.

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