Raymond James Financial Inc. Has $4.05 Million Stock Position in 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 holdings in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 33.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,093 shares of the semiconductor company's stock after selling 40,969 shares during the quarter. Raymond James Financial Inc. owned approximately 0.14% of Power Integrations worth $4,045,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new position in shares of Power Integrations during the 1st quarter worth approximately $1,452,000. SG Americas Securities LLC bought a new position in shares of Power Integrations during the 1st quarter worth approximately $344,000. GAMMA Investing LLC boosted its holdings in shares of Power Integrations by 243.2% in the 1st 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 last quarter. Savvy Advisors Inc. acquired a new stake in shares of Power Integrations in the 1st quarter valued at approximately $630,000. Finally, Sei Investments Co. boosted its holdings in shares of Power Integrations by 7.1% in the 1st quarter. Sei Investments Co. now owns 103,425 shares of the semiconductor company's stock valued at $5,223,000 after buying an additional 6,827 shares during the last quarter.

Insiders Place Their Bets

In other news, VP Doug Bailey sold 16,989 shares of Power Integrations stock in a transaction on Monday, August 18th. The stock was sold at an average price of $46.41, for a total transaction of $788,459.49. Following the completion of the sale, the vice president owned 50,798 shares of the company's stock, valued at approximately $2,357,535.18. This trade represents a 25.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gagan Jain sold 2,036 shares of Power Integrations stock in a transaction 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 sale, the vice president directly owned 18,812 shares of the company's stock, valued at $866,292.60. This 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 three months. Insiders own 1.40% of the company's stock.

Power Integrations Price Performance

Power Integrations stock traded up $1.14 during mid-day trading on Thursday, hitting $45.62. 771,311 shares of the company's stock traded hands, compared to its average volume of 503,198. The firm has a 50 day simple moving average of $49.31 and a two-hundred day simple moving average of $51.75. 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 $2.56 billion, a price-to-earnings ratio of 78.66, a P/E/G ratio of 2.91 and a beta of 1.38.

Power Integrations (NASDAQ:POWI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share (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 quarter last year, the firm posted $0.28 EPS. The company's quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts anticipate that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.8%. Power Integrations's dividend payout ratio (DPR) is currently 144.83%.

Analyst Upgrades and Downgrades

POWI has been the subject of several recent analyst reports. 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. Benchmark cut their price objective on Power Integrations from $70.00 to $55.00 and set a "buy" rating for the company in a report on Monday, August 11th. Finally, Wall Street Zen downgraded Power Integrations from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $61.67.

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.