Power Integrations, Inc. $POWI Shares Acquired by Sit Investment Associates Inc.

Key Points

• Sit Investment Associates Inc. increased its holdings in Power Integrations, Inc. by 67.1%, acquiring 5,400 shares this quarter, bringing their total to 13,450 shares valued at approximately $679,000.
• Power Integrations announced a quarterly dividend of $0.21 per share, with a payout ratio of 144.83%, and the dividend is set to be paid on September 30th.
• The company's stock has shown volatility, with a 12-month high of $69.53 and a low of $39.53, and currently trading at $46.30, witnessing a 2% decline recently.

Sit Investment Associates Inc. grew its stake in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 67.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,450 shares of the semiconductor company's stock after acquiring an additional 5,400 shares during the quarter. Sit Investment Associates Inc.'s holdings in Power Integrations were worth $679,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its stake in shares of Power Integrations by 257.8% in the 1st quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 428 shares during the last quarter. Bayforest Capital Ltd boosted its stake in Power Integrations by 54.3% during the 1st quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 222 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Power Integrations by 841.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 781 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 698 shares in the last quarter. Global X Japan Co. Ltd. bought a new position in Power Integrations during the first quarter valued at about $42,000. Finally, Johnson Financial Group Inc. acquired a new stake in Power Integrations during the fourth quarter valued at approximately $51,000.

Wall Street Analyst Weigh In

POWI has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Power Integrations from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Stifel Nicolaus boosted their price target on shares of Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Susquehanna decreased their price target 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. Finally, Benchmark reduced their price objective on shares of Power Integrations from $70.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Power Integrations presently has an average rating of "Buy" and an average target price of $61.67.

Power Integrations Price Performance

Shares of NASDAQ:POWI traded down $0.4050 during trading on Thursday, hitting $45.1950. 104,058 shares of the company were exchanged, compared to its average volume of 551,278. The stock has a market capitalization of $2.54 billion, a P/E ratio of 77.93, a PEG ratio of 3.04 and a beta of 1.31. Power Integrations, Inc. has a 12-month low of $39.53 and a 12-month high of $69.53. The firm's 50 day moving average price is $52.72 and its 200-day moving average price is $53.51.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its quarterly earnings data 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 business had revenue of $115.85 million for the quarter, compared to analyst estimates 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 was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. As a group, equities research analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current 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 issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, August 29th. Power Integrations's payout ratio is 144.83%.

Insider Activity at Power Integrations

In other news, VP Gagan Jain sold 2,036 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $46.05, for a total transaction of $93,757.80. Following the completion of the sale, the vice president owned 18,812 shares in the company, valued at $866,292.60. This trade represents a 9.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Doug Bailey sold 16,989 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $46.41, for a total transaction of $788,459.49. Following the transaction, the vice president owned 50,798 shares of the company's stock, valued at $2,357,535.18. This trade represents a 25.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,014 shares of company stock worth $1,678,322 in the last ninety days. 1.40% of the stock is owned by company 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.