Voloridge Investment Management LLC Cuts Position in Power Integrations, Inc. (NASDAQ:POWI)

Voloridge Investment Management LLC trimmed its position in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 29.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 272,683 shares of the semiconductor company's stock after selling 111,379 shares during the period. Voloridge Investment Management LLC owned 0.48% of Power Integrations worth $16,825,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in shares of Power Integrations by 110.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 537 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 282 shares in the last quarter. UMB Bank n.a. boosted its stake in Power Integrations by 43.9% during the fourth quarter. UMB Bank n.a. now owns 629 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 192 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Power Integrations by 133.2% during the fourth quarter. Quadrant Capital Group LLC now owns 674 shares of the semiconductor company's stock worth $42,000 after acquiring an additional 385 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Power Integrations in the fourth quarter worth about $51,000. Finally, Covestor Ltd raised its holdings in shares of Power Integrations by 16.9% during the fourth quarter. Covestor Ltd now owns 1,619 shares of the semiconductor company's stock valued at $100,000 after purchasing an additional 234 shares during the last quarter.

Power Integrations Stock Down 1.1%

POWI stock traded down $0.57 during trading on Wednesday, hitting $50.61. The company had a trading volume of 97,869 shares, compared to its average volume of 463,342. Power Integrations, Inc. has a 52-week low of $40.78 and a 52-week high of $79.13. The company has a 50 day simple moving average of $49.86 and a 200-day simple moving average of $57.68. The firm has a market capitalization of $2.85 billion, a P/E ratio of 88.97, a PEG ratio of 4.08 and a beta of 1.31.

Power Integrations (NASDAQ:POWI - Get Free Report) last issued its earnings results on Monday, May 12th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. Power Integrations had a net margin of 7.69% and a return on equity of 4.48%. The company had revenue of $105.53 million for the quarter, compared to analysts' expectations of $105.44 million. During the same period in the prior year, the business earned $0.18 EPS. The firm's quarterly revenue was up 15.1% on a year-over-year basis. Sell-side analysts forecast that Power Integrations, Inc. will post 0.93 earnings per share for the current year.

Power Integrations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, May 30th. Power Integrations's dividend payout ratio (DPR) is 129.23%.

Analysts Set New Price Targets

A number of brokerages have commented on POWI. Wall Street Zen raised shares of Power Integrations from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Benchmark restated a "buy" rating and set a $78.00 target price on shares of Power Integrations in a research report on Friday, February 7th. Finally, Stifel Nicolaus raised their target price on shares of Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $74.67.

Insider Activity

In other news, CEO Balu Balakrishnan sold 9,544 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $51.19, for a total transaction of $488,557.36. Following the transaction, the chief executive officer now owns 590,580 shares of the company's stock, valued at approximately $30,231,790.20. The trade was a 1.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Clifford Walker sold 1,088 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $50.89, for a total transaction of $55,368.32. Following the completion of the sale, the vice president now owns 141,765 shares in the company, valued at approximately $7,214,420.85. This trade represents a 0.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,561 shares of company stock valued at $642,092 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

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.