Riverbridge Partners LLC Cuts Stake in Power Integrations, Inc. (NASDAQ:POWI)

Riverbridge Partners LLC reduced its position in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 472,794 shares of the semiconductor company's stock after selling 44,557 shares during the quarter. Riverbridge Partners LLC owned about 0.83% of Power Integrations worth $23,876,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Stifel Nicolaus lifted their price objective on shares of Power Integrations from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of Power Integrations from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Power Integrations currently has a consensus rating of "Moderate Buy" and an average target price of $74.67.

Power Integrations Stock Performance

NASDAQ POWI traded up $1.38 on Monday, reaching $54.87. 401,336 shares of the company's stock traded hands, compared to its average volume of 479,998. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 84.42, a P/E/G ratio of 2.19 and a beta of 1.29. The stock has a 50 day moving average price of $51.81 and a 200-day moving average price of $56.36. Power Integrations, Inc. has a fifty-two week low of $40.78 and a fifty-two week high of $79.13.

Power Integrations (NASDAQ:POWI - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The semiconductor company reported $0.31 earnings per share 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 8.56% and a return on equity of 5.12%. The company's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share. As a group, equities research analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Dividend Announcement

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 given a $0.21 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.53%. Power Integrations's dividend payout ratio (DPR) is currently 129.23%.

Insiders Place Their Bets

In other Power Integrations news, CEO Balu Balakrishnan sold 9,544 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $51.19, for a total value of $488,557.36. Following the completion of the transaction, the chief executive officer now owns 590,580 shares in the company, valued at approximately $30,231,790.20. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sandeep Nayyar sold 1,929 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was 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 approximately $5,463,397.73. This trade represents a 1.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,561 shares of company stock worth $642,092. Company insiders own 1.40% of the company's stock.

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.