Raymond James Financial Inc. Sells 40,969 Shares of Power Integrations, Inc. $POWI

Key Points

• Raymond James Financial Inc. has reduced its stake in Power Integrations, Inc. by 33.8%, owning 80,093 shares after selling 40,969 shares in the first quarter, representing a value of $4,045,000.
• Insider sales in Power Integrations saw VP Doug Bailey sell 16,989 shares for approximately $788,459.49, and another VP Gagan Jain sold 2,036 shares, contributing to a total of 36,014 shares sold by insiders in the last ninety days.
• The company has announced a quarterly dividend of $0.21 per share, with the ex-dividend date set for August 29, reflecting a 1.9% dividend yield.

Raymond James Financial Inc. reduced its position in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 33.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,093 shares of the semiconductor company's stock after selling 40,969 shares during the period. Raymond James Financial Inc. owned about 0.14% of Power Integrations worth $4,045,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in shares of Power Integrations by 1.2% during the 1st quarter. Victory Capital Management Inc. now owns 17,385 shares of the semiconductor company's stock valued at $878,000 after buying an additional 200 shares during the last quarter. Snowden Capital Advisors LLC raised its holdings in shares of Power Integrations by 1.8% during the 4th quarter. Snowden Capital Advisors LLC now owns 12,127 shares of the semiconductor company's stock valued at $748,000 after purchasing an additional 211 shares in the last quarter. Bayforest Capital Ltd raised its holdings in shares of 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 in the last quarter. Bessemer Group Inc. raised its holdings in shares of Power Integrations by 4.1% during the 1st 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 in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings 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 worth $227,000 after purchasing an additional 339 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Power Integrations from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Wall Street Zen cut shares of Power Integrations from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Susquehanna decreased their price objective on shares of Power Integrations from $70.00 to $55.00 and set a "positive" rating for the company in a report on Thursday, August 7th. Finally, Benchmark decreased their price objective on shares of Power Integrations from $70.00 to $55.00 and set a "buy" rating for the company in a report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $61.67.

Power Integrations Stock Up 0.2%

NASDAQ POWI traded up $0.08 during midday trading on Monday, hitting $44.99. The company had a trading volume of 508,494 shares, compared to its average volume of 550,886. The firm has a fifty day simple moving average of $50.14 and a two-hundred day simple moving average of $51.98. Power Integrations, Inc. has a fifty-two week low of $39.53 and a fifty-two week high of $69.53. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 77.57, a P/E/G ratio of 2.94 and a beta of 1.38.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $115.02 million. During the same quarter last year, the company earned $0.28 earnings per share. The firm's revenue was up 9.1% on a year-over-year basis. As a group, equities analysts predict that Power Integrations, Inc. will post 0.93 earnings per share for the current year.

Power Integrations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, August 29th. Power Integrations's dividend payout ratio (DPR) is presently 144.83%.

Insider Activity

In other news, VP Doug Bailey sold 16,989 shares of Power Integrations stock in a transaction that occurred 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 completion of the transaction, the vice president owned 50,798 shares in the company, valued at approximately $2,357,535.18. The trade was a 25.06% 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 Gagan Jain sold 2,036 shares of the business'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 completion of the transaction, the vice president 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. In the last quarter, insiders sold 36,014 shares of company stock valued at $1,678,322. 1.40% of the stock is owned by corporate insiders.

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.