Savvy Advisors Inc. Buys New Shares in Power Integrations, Inc. (NASDAQ:POWI)

Key Points

• Savvy Advisors Inc. acquired a new position in Power Integrations, purchasing 12,484 shares valued at approximately $630,000 in the first quarter.
• Power Integrations recently reported $0.35 EPS for the quarter, beating consensus estimates, and announced a quarterly dividend of $0.21 to be paid on September 30th.
• Wall Street analysts have mixed ratings for Power Integrations, with one analyst downgrading the stock to "hold" while others maintain a "buy" rating, keeping a consensus price target of $70.00.

Savvy Advisors Inc. purchased a new position in Power Integrations, Inc. (NASDAQ:POWI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,484 shares of the semiconductor company's stock, valued at approximately $630,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in shares of Power Integrations in the 1st quarter worth approximately $1,452,000. SG Americas Securities LLC purchased a new stake in shares of Power Integrations in the 1st quarter worth approximately $344,000. GAMMA Investing LLC grew its stake 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 worth $102,000 after buying an additional 1,425 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Power Integrations by 18.3% in the 1st quarter. New York State Common Retirement Fund now owns 157,468 shares of the semiconductor company's stock worth $7,952,000 after buying an additional 24,309 shares during the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in shares of Power Integrations in the 1st quarter worth approximately $1,723,000.

Wall Street Analysts Forecast Growth

POWI has been the topic of several recent analyst reports. Wall Street Zen downgraded Power Integrations from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Stifel Nicolaus boosted their price target on Power Integrations from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Benchmark decreased their price target on Power Integrations from $70.00 to $55.00 and set a "buy" rating for the company in a research note on Monday. Finally, Susquehanna decreased their price target on Power Integrations from $70.00 to $55.00 and set a "positive" rating for the company in a research note on Thursday, August 7th.

Power Integrations Stock Performance

Shares of POWI stock traded down $1.55 on Thursday, reaching $46.89. The stock had a trading volume of 187,903 shares, compared to its average volume of 551,961. The stock has a market cap of $2.63 billion, a P/E ratio of 80.82, a price-to-earnings-growth ratio of 2.20 and a beta of 1.31. Power Integrations, Inc. has a 1 year low of $39.53 and a 1 year high of $69.53. The company has a 50 day simple moving average of $53.71 and a 200 day simple moving average of $53.98.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The firm had revenue of $115.85 million for the quarter, compared to the consensus estimate of $115.02 million. Power Integrations had a return on equity of 5.86% and a net margin of 7.59%. The company's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. On average, equities 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, August 29th. Power Integrations's dividend payout ratio (DPR) is 144.83%.

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.