The Manufacturers Life Insurance Company Takes $4.56 Million Position in Power Integrations, Inc. $POWI

Key Points

• The Manufacturers Life Insurance Company acquired 54,451 Power Integrations shares worth approximately $4.56 million, representing a 0.10% stake. Other institutional investors, including BlackRock and William Blair, also established or increased positions.
• Analyst sentiment remains cautiously positive, with a consensus rating of “Moderate Buy” and an average price target of $72.67, though individual targets range from $80 to $85 and one firm downgraded the stock to Hold.
• Power Integrations reported quarterly EPS of $0.37, beating estimates by $0.05, while revenue rose 2.6% year over year to $118.94 million. The stock opened at $51.38, well below its 52-week high of $91.18.

The Manufacturers Life Insurance Company acquired a new position in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,451 shares of the semiconductor company's stock, valued at approximately $4,556,000. The Manufacturers Life Insurance Company owned 0.10% of Power Integrations at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Power Integrations in the second quarter worth $730,559,000. William Blair Investment Management LLC acquired a new stake in Power Integrations in the 2nd quarter valued at $199,517,000. Snyder Capital Management L P lifted its position in Power Integrations by 148.8% during the 4th quarter. Snyder Capital Management L P now owns 2,064,707 shares of the semiconductor company's stock worth $73,380,000 after buying an additional 1,234,981 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Power Integrations by 1,885.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 943,365 shares of the semiconductor company's stock worth $33,528,000 after buying an additional 895,857 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Power Integrations by 35.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,261,281 shares of the semiconductor company's stock worth $90,926,000 after buying an additional 595,404 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently issued reports on POWI shares. Susquehanna lifted their target price on Power Integrations from $70.00 to $85.00 and gave the company a "positive" rating in a research report on Friday, May 8th. Williams Trading set a $80.00 price target on Power Integrations in a research report on Thursday, August 6th. Stifel Nicolaus decreased their price target on Power Integrations from $95.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Zacks Research lowered Power Integrations from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Finally, Wall Street Zen upgraded Power Integrations from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Power Integrations presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.67.

Power Integrations Trading Down 0.3%

POWI stock opened at $51.38 on Tuesday. Power Integrations, Inc. has a 1-year low of $30.86 and a 1-year high of $91.18. The business's 50 day simple moving average is $66.03 and its 200 day simple moving average is $63.48. The firm has a market capitalization of $2.87 billion, a PE ratio of 114.18 and a beta of 1.58.

Power Integrations (NASDAQ:POWI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. Power Integrations had a return on equity of 5.50% and a net margin of 5.58%.The business had revenue of $118.94 million during the quarter, compared to the consensus estimate of $117.44 million. During the same quarter last year, the firm posted $0.35 EPS. The company's quarterly revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts predict that Power Integrations, Inc. will post 0.77 EPS for the current fiscal year.

About Power Integrations

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company's products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm's product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.

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