Amalgamated Bank Decreases Holdings in Power Integrations, Inc. (NASDAQ:POWI)

Amalgamated Bank cut its holdings in shares of Power Integrations, Inc. (NASDAQ:POWIGet Rating) by 6.6% during the 1st quarter, HoldingsChannel reports. The fund owned 40,150 shares of the semiconductor company’s stock after selling 2,833 shares during the quarter. Amalgamated Bank’s holdings in Power Integrations were worth $3,721,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Power Integrations during the first quarter worth approximately $560,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Power Integrations by 34.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,029 shares of the semiconductor company’s stock worth $4,729,000 after purchasing an additional 13,165 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of Power Integrations in the first quarter worth approximately $5,789,000. First National Bank of Omaha bought a new position in shares of Power Integrations in the first quarter worth approximately $1,568,000. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Power Integrations by 41.4% in the first quarter. BNP Paribas Arbitrage SA now owns 59,500 shares of the semiconductor company’s stock worth $5,514,000 after purchasing an additional 17,423 shares during the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, Director Nicholas Brathwaite sold 9,845 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $80.55, for a total transaction of $793,014.75. Following the completion of the transaction, the director now owns 45,045 shares of the company’s stock, valued at $3,628,374.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Power Integrations news, VP Sunil Gupta sold 2,117 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $77.91, for a total value of $164,935.47. Following the completion of the transaction, the vice president now owns 35,888 shares of the company’s stock, valued at approximately $2,796,034.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nicholas Brathwaite sold 9,845 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $80.55, for a total value of $793,014.75. Following the completion of the transaction, the director now directly owns 45,045 shares of the company’s stock, valued at approximately $3,628,374.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,185 shares of company stock valued at $2,761,905. 1.60% of the stock is currently owned by company insiders.

Power Integrations Stock Down 2.8 %

NASDAQ:POWI opened at $65.75 on Friday. The stock has a market cap of $3.83 billion, a P/E ratio of 21.35 and a beta of 1.10. The firm’s fifty day simple moving average is $76.26 and its 200 day simple moving average is $80.35. Power Integrations, Inc. has a twelve month low of $65.69 and a twelve month high of $110.43.

Power Integrations (NASDAQ:POWIGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The semiconductor company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.87 by $0.16. The business had revenue of $183.99 million during the quarter, compared to analyst estimates of $190.15 million. Power Integrations had a return on equity of 22.44% and a net margin of 25.83%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 earnings per share. On average, analysts expect that Power Integrations, Inc. will post 3.09 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.10%. The ex-dividend date is Tuesday, August 30th. Power Integrations’s dividend payout ratio is currently 23.38%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Susquehanna cut their target price on shares of Power Integrations from $105.00 to $98.00 and set a “positive” rating on the stock in a report on Friday, August 5th. Cowen cut their target price on shares of Power Integrations to $90.00 in a report on Tuesday, August 9th. Susquehanna Bancshares cut their target price on shares of Power Integrations from $105.00 to $98.00 and set a “positive” rating on the stock in a report on Friday, August 5th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Power Integrations from $90.00 to $80.00 in a report on Wednesday, July 20th. Finally, StockNews.com cut shares of Power Integrations from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th.

Power Integrations Company Profile

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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.

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Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

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