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

Rhumbline Advisers increased its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 37.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,300 shares of the semiconductor company's stock after acquiring an additional 69,324 shares during the period. Rhumbline Advisers owned approximately 0.45% of Power Integrations worth $12,741,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Power Integrations in the 4th quarter worth approximately $19,663,000. Federated Hermes Inc. raised its stake in Power Integrations by 40.0% during the fourth quarter. Federated Hermes Inc. now owns 711,017 shares of the semiconductor company's stock valued at $43,870,000 after buying an additional 203,309 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Power Integrations by 10.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,920,459 shares of the semiconductor company's stock worth $118,492,000 after acquiring an additional 178,896 shares in the last quarter. Snyder Capital Management L P grew its stake in shares of Power Integrations by 22.3% in the fourth quarter. Snyder Capital Management L P now owns 882,518 shares of the semiconductor company's stock worth $54,451,000 after acquiring an additional 160,784 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Power Integrations in the fourth quarter worth $7,470,000.

Insiders Place Their Bets

In related news, 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 value of $98,166.81. Following the transaction, the chief financial officer now owns 107,357 shares of the company's stock, valued at approximately $5,463,397.73. This trade represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Balu Balakrishnan sold 9,544 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $51.19, for a total transaction of $488,557.36. Following the sale, the chief executive officer now directly owns 590,580 shares of the company's stock, valued at approximately $30,231,790.20. This represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,561 shares of company stock valued at $642,092. Company insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

POWI has been the subject of several recent analyst reports. Wall Street Zen lowered Power Integrations from a "buy" rating to a "hold" rating in a research report on Saturday, May 31st. Stifel Nicolaus lifted their target price 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. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $74.67.

Power Integrations Price Performance

Shares of Power Integrations stock traded up $2.11 during trading on Monday, hitting $56.85. 418,180 shares of the company's stock traded hands, compared to its average volume of 477,977. Power Integrations, Inc. has a 1 year low of $40.78 and a 1 year high of $79.13. The business has a 50-day simple moving average of $49.55 and a 200-day simple moving average of $57.07. The stock has a market capitalization of $3.20 billion, a P/E ratio of 99.74, a PEG ratio of 4.08 and a beta of 1.29.

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

Power Integrations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Friday, May 30th. Power Integrations's dividend payout ratio (DPR) is presently 129.23%.

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.