Power Integrations, Inc. $POWI Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP sold 28.4% of its holdings in Power Integrations, reducing its share count to 1,750,919, valued at approximately $88.4 million.
• Power Integrations reported a quarterly EPS of $0.35, surpassing analysts' expectations of $0.34, alongside a revenue of $115.85 million, a 9.1% increase year-over-year.
• The company announced a new quarterly dividend of $0.21 per share, set to be paid on September 30th, representing a 1.9% dividend yield annually.

Wellington Management Group LLP lowered its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 28.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,750,919 shares of the semiconductor company's stock after selling 694,443 shares during the period. Wellington Management Group LLP owned about 3.08% of Power Integrations worth $88,421,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in Power Integrations by 257.8% during the first quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock worth $30,000 after buying an additional 428 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in Power Integrations by 54.3% during the first quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company's stock worth $32,000 after buying an additional 222 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Power Integrations by 841.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 781 shares of the semiconductor company's stock worth $39,000 after buying an additional 698 shares in the last quarter. Global X Japan Co. Ltd. purchased a new stake in Power Integrations during the first quarter worth about $42,000. Finally, Johnson Financial Group Inc. purchased a new stake in Power Integrations during the fourth quarter worth about $51,000.

Insider Activity at Power Integrations

In related news, VP Doug Bailey sold 16,989 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $46.41, for a total transaction of $788,459.49. Following the completion of the transaction, the vice president owned 50,798 shares of the company's stock, valued at approximately $2,357,535.18. This represents a 25.06% decrease in their ownership of the stock. 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 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 transaction of $93,757.80. Following the transaction, the vice president directly owned 18,812 shares of the company's stock, valued at $866,292.60. This trade represents a 9.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,014 shares of company stock valued at $1,678,322 in the last ninety days. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

POWI has been the topic of several recent research reports. Susquehanna reduced their price target on shares of 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 shares of Power Integrations from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Benchmark reduced their price target on shares of Power Integrations from $70.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Finally, Stifel Nicolaus upped their price target on shares of Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, Power Integrations currently has an average rating of "Buy" and an average target price of $61.67.

Power Integrations Stock Up 1.0%

Shares of NASDAQ:POWI traded up $0.46 during trading on Wednesday, reaching $46.56. The stock had a trading volume of 93,666 shares, compared to its average volume of 551,009. The business has a fifty day moving average price of $51.95 and a 200-day moving average price of $53.05. The stock has a market cap of $2.61 billion, a P/E ratio of 80.17, a PEG ratio of 3.04 and a beta of 1.31. Power Integrations, Inc. has a fifty-two week low of $39.53 and a fifty-two week high of $69.53.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly earnings data 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. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The business had revenue of $115.85 million during the quarter, compared to analyst estimates of $115.02 million. During the same quarter in the previous year, the business posted $0.28 earnings per share. The company's revenue was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Dividend Announcement

The business also recently declared 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 of this dividend is Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 1.8%. Power Integrations's dividend payout ratio is 144.83%.

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.