Pinebridge Investments L.P. Increases Position in Power Integrations, Inc. (NASDAQ:POWI)

Pinebridge Investments L.P. raised its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 42.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,126 shares of the semiconductor company's stock after buying an additional 8,713 shares during the period. Pinebridge Investments L.P. owned about 0.05% of Power Integrations worth $1,797,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of POWI. Smartleaf Asset Management LLC increased its position in Power Integrations by 110.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 537 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 282 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Power Integrations by 1,618.2% during the 4th quarter. Versant Capital Management Inc now owns 567 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 534 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Power Integrations by 43.9% in the 4th quarter. UMB Bank n.a. now owns 629 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 192 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Power Integrations by 133.2% in the fourth quarter. Quadrant Capital Group LLC now owns 674 shares of the semiconductor company's stock worth $42,000 after buying an additional 385 shares during the last quarter. Finally, Covestor Ltd grew its position in 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 buying an additional 234 shares during the period.

Insiders Place Their Bets

In other Power Integrations news, CEO Balu Balakrishnan sold 12,507 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $60.64, for a total transaction of $758,424.48. Following the completion of the transaction, the chief executive officer now owns 600,002 shares in the company, valued at $36,384,121.28. This trade represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Nayyar sold 1,929 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.89, for a total transaction of $98,166.81. Following the completion of the sale, the chief financial officer now owns 107,357 shares in the company, valued at approximately $5,463,397.73. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,105 shares of company stock valued at $3,075,198 in the last quarter. 1.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. StockNews.com downgraded shares of Power Integrations from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Stifel Nicolaus lowered their target price on Power Integrations from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Benchmark restated a "buy" rating and issued a $78.00 price target on shares of Power Integrations in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.83.

Power Integrations Trading Up 3.8 %

POWI traded up $1.87 on Friday, hitting $51.13. 407,008 shares of the company's stock traded hands, compared to its average volume of 456,259. The company's 50 day simple moving average is $52.21 and its 200-day simple moving average is $59.13. Power Integrations, Inc. has a one year low of $40.78 and a one year high of $79.13. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 89.70, a P/E/G ratio of 4.08 and a beta of 1.32.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.12). Power Integrations had a return on equity of 4.48% and a net margin of 7.69%. As a group, equities analysts anticipate that Power Integrations, Inc. will post 0.93 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.64%. The ex-dividend date was Friday, February 28th. Power Integrations's dividend payout ratio is presently 147.37%.

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.