Teachers Retirement System of The State of Kentucky Sells 17,775 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Key Points

• The Teachers Retirement System of The State of Kentucky reduced its holdings in Power Integrations, Inc. by 49.3% after selling 17,775 shares, leaving it with 18,283 shares worth approximately $923,000.
• Power Integrations recently reported earnings of $0.31 EPS, exceeding expectations, with a revenue of $105.53 million for the quarter, reflecting a 15.1% increase year-over-year.
• Analysts have generally rated Power Integrations positively, with the average rating being "Moderate Buy" and a price target of $73.33 per share.

Teachers Retirement System of The State of Kentucky decreased its position in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 49.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,283 shares of the semiconductor company's stock after selling 17,775 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Power Integrations were worth $923,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sei Investments Co. grew its stake in shares of Power Integrations by 4.9% during the 4th quarter. Sei Investments Co. now owns 96,598 shares of the semiconductor company's stock worth $5,960,000 after acquiring an additional 4,477 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Power Integrations during the 4th quarter worth about $697,000. LPL Financial LLC boosted its stake in shares of Power Integrations by 14.8% during the 4th quarter. LPL Financial LLC now owns 18,707 shares of the semiconductor company's stock worth $1,154,000 after buying an additional 2,407 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Power Integrations by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,210,835 shares of the semiconductor company's stock valued at $444,909,000 after acquiring an additional 114,047 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Power Integrations by 10.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,920,459 shares of the semiconductor company's stock valued at $118,492,000 after purchasing an additional 178,896 shares during the last quarter.

Wall Street Analysts Forecast Growth

POWI has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Power Integrations from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Stifel Nicolaus upped their price objective on Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Benchmark reiterated a "buy" rating and set a $70.00 target price on shares of Power Integrations in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Power Integrations currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.33.

Power Integrations Stock Performance

Shares of POWI stock traded up $0.93 on Monday, hitting $52.94. The company's stock had a trading volume of 189,411 shares, compared to its average volume of 527,430. The company has a market capitalization of $2.98 billion, a PE ratio of 81.42, a PEG ratio of 2.13 and a beta of 1.31. Power Integrations, Inc. has a fifty-two week low of $40.78 and a fifty-two week high of $74.93. The stock's 50 day moving average is $54.58 and its 200-day moving average is $55.16.

Power Integrations (NASDAQ:POWI - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The semiconductor company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.03. Power Integrations had a return on equity of 5.12% and a net margin of 8.56%. The company had revenue of $105.53 million for the quarter, compared to analysts' expectations of $105.44 million. During the same quarter last year, the business earned $0.18 earnings per share. Power Integrations's revenue was up 15.1% on a year-over-year basis. On average, research analysts forecast that Power Integrations, Inc. will post 0.93 earnings per share for the current year.

Power Integrations Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Friday, May 30th. Power Integrations's dividend payout ratio (DPR) is presently 129.23%.

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.