Rhumbline Advisers Purchases 69,324 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Rhumbline Advisers lifted its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 37.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 252,300 shares of the semiconductor company's stock after buying an additional 69,324 shares during the quarter. Rhumbline Advisers owned about 0.45% of Power Integrations worth $12,741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its stake in Power Integrations by 110.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 537 shares of the semiconductor company's stock worth $33,000 after buying an additional 282 shares during the period. Quadrant Capital Group LLC grew its position in Power Integrations by 133.2% in the 4th quarter. Quadrant Capital Group LLC now owns 674 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 385 shares during the period. Johnson Financial Group Inc. bought a new stake in Power Integrations during the 4th quarter valued at $51,000. Covestor Ltd raised its holdings in Power Integrations by 16.9% during the fourth quarter. Covestor Ltd now owns 1,619 shares of the semiconductor company's stock worth $100,000 after buying an additional 234 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its holdings in shares of Power Integrations by 1,259.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 3,222 shares of the semiconductor company's stock valued at $199,000 after buying an additional 2,985 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wall Street Zen cut Power Integrations from a "buy" rating to a "hold" rating in a research report on Saturday, May 31st. Stifel Nicolaus increased their target price 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 research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Power Integrations currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.67.

Power Integrations Price Performance

Shares of Power Integrations stock traded down $0.17 during trading hours on Thursday, hitting $57.62. 310,153 shares of the company's stock traded hands, compared to its average volume of 478,384. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 101.09, a PEG ratio of 4.08 and a beta of 1.29. Power Integrations, Inc. has a 12-month low of $40.78 and a 12-month high of $79.13. The company has a fifty day simple moving average of $50.20 and a 200-day simple moving average of $57.04.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.03. The business had revenue of $105.53 million during the quarter, compared to the consensus estimate of $105.44 million. Power Integrations had a net margin of 7.69% and a return on equity of 4.48%. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 earnings per share. On average, analysts forecast that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Friday, May 30th. Power Integrations's dividend payout ratio (DPR) is 129.23%.

Insiders Place Their Bets

In other Power Integrations news, CEO Balu Balakrishnan sold 9,544 shares of Power Integrations stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $51.19, for a total transaction of $488,557.36. Following the completion of the transaction, the chief executive officer now owns 590,580 shares of the company's stock, valued at $30,231,790.20. The trade was a 1.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Nayyar sold 1,929 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $50.89, for a total transaction of $98,166.81. Following the completion of the transaction, the chief financial officer now owns 107,357 shares of the company's stock, valued at $5,463,397.73. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,561 shares of company stock valued at $642,092 over the last ninety days. 1.40% of the stock is currently owned by 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.