Riverbridge Partners LLC Sells 61,607 Shares of Power Integrations, Inc. $POWI

Key Points

• Riverbridge Partners LLC has sold 61,607 shares of Power Integrations, reducing its stake by 13.0% to 411,187 shares, valued at approximately $22.98 million.
• Power Integrations reported earnings of $0.35 per share for the last quarter, beating estimates, with a revenue increase of 9.1% year-over-year, totaling $115.85 million.
• The company declared a quarterly dividend of $0.21 per share, representing an annualized yield of 2.1% and a payout ratio of 144.83%.

Riverbridge Partners LLC cut its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 13.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 411,187 shares of the semiconductor company's stock after selling 61,607 shares during the quarter. Riverbridge Partners LLC owned approximately 0.73% of Power Integrations worth $22,985,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas bought a new position in Power Integrations during the first quarter worth $1,452,000. SG Americas Securities LLC bought a new position in Power Integrations during the first quarter worth $344,000. Foresight Group Ltd Liability Partnership bought a new position in Power Integrations during the first quarter worth $11,271,000. GAMMA Investing LLC boosted its stake in Power Integrations by 243.2% during the first quarter. GAMMA Investing LLC now owns 2,011 shares of the semiconductor company's stock worth $102,000 after acquiring an additional 1,425 shares in the last quarter. Finally, Savvy Advisors Inc. bought a new position in Power Integrations during the first quarter worth $630,000.

Power Integrations Stock Performance

POWI opened at $40.81 on Thursday. The firm has a market cap of $2.29 billion, a P/E ratio of 70.36, a PEG ratio of 2.72 and a beta of 1.38. The firm has a 50-day moving average of $46.90 and a 200 day moving average of $50.67. Power Integrations, Inc. has a fifty-two week low of $39.53 and a fifty-two week high of $69.53.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly 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. The company had revenue of $115.85 million during the quarter, compared to analyst estimates of $115.02 million. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. Equities research analysts predict that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 2.1%. Power Integrations's dividend payout ratio is presently 144.83%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on POWI shares. Susquehanna lowered their price objective on shares of Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a report on Thursday, August 7th. Wall Street Zen downgraded shares of Power Integrations from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Benchmark reiterated a "buy" rating and issued a $55.00 target price on shares of Power Integrations in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $61.67.

Insider Transactions at Power Integrations

In other Power Integrations news, VP Doug Bailey sold 16,989 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $46.41, for a total transaction of $788,459.49. Following the completion of the transaction, the vice president owned 50,798 shares in the company, valued at $2,357,535.18. This trade represents a 25.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Gagan Jain sold 2,036 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $46.05, for a total transaction of $93,757.80. Following the transaction, the vice president 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 quarter. Company insiders own 1.40% of the company's stock.

About Power Integrations

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.

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