Raymond James & Associates Has $1.93 Million Stake in Power Integrations, Inc. (NASDAQ:POWI)

Raymond James & Associates reduced its stake in shares of Power Integrations, Inc. (NASDAQ:POWIGet Rating) by 30.5% in the 3rd quarter, Holdings Channel reports. The firm owned 29,949 shares of the semiconductor company’s stock after selling 13,117 shares during the quarter. Raymond James & Associates’ holdings in Power Integrations were worth $1,926,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Power Integrations in the second quarter worth approximately $38,000. Exchange Traded Concepts LLC increased its position in shares of Power Integrations by 34.3% during the third quarter. Exchange Traded Concepts LLC now owns 819 shares of the semiconductor company’s stock worth $53,000 after buying an additional 209 shares during the period. Covestor Ltd increased its position in shares of Power Integrations by 179.3% during the first quarter. Covestor Ltd now owns 863 shares of the semiconductor company’s stock worth $80,000 after buying an additional 554 shares during the period. CWM LLC raised its stake in Power Integrations by 176.0% during the second quarter. CWM LLC now owns 908 shares of the semiconductor company’s stock worth $68,000 after buying an additional 579 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in Power Integrations by 343.2% in the second quarter. Assetmark Inc. now owns 1,529 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 1,184 shares during the period. 99.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Power Integrations news, VP David Mh Matthews sold 5,000 shares of Power Integrations stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $76.64, for a total transaction of $383,200.00. Following the completion of the transaction, the vice president now owns 101,233 shares in the company, valued at approximately $7,758,497.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 11,104 shares of company stock worth $860,085 in the last quarter. Insiders own 1.60% of the company’s stock.

Power Integrations Stock Up 2.2 %

NASDAQ POWI opened at $86.55 on Tuesday. Power Integrations, Inc. has a 52 week low of $59.16 and a 52 week high of $98.92. The business has a 50 day moving average price of $76.64 and a 200-day moving average price of $73.84. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 27.13 and a beta of 1.15.

Power Integrations (NASDAQ:POWIGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.09. Power Integrations had a net margin of 27.00% and a return on equity of 23.96%. The business had revenue of $160.23 million during the quarter, compared to the consensus estimate of $163.25 million. On average, equities research analysts anticipate that Power Integrations, Inc. will post 2.88 earnings per share for the current year.

Power Integrations Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Tuesday, November 29th. Power Integrations’s payout ratio is presently 22.57%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Cowen downgraded Power Integrations from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $90.00 to $65.00 in a report on Thursday, November 3rd. TheStreet cut Power Integrations from an “a-” rating to a “c” rating in a research note on Friday, November 4th. Cowen lowered Power Integrations from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $90.00 to $65.00 in a research note on Thursday, November 3rd. StockNews.com downgraded shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Saturday, October 15th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Power Integrations from $75.00 to $70.00 in a research note on Thursday, November 3rd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $78.86.

Power Integrations Profile

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Power Integrations, Inc is engaged in the designing, development, and marketing of analog and mixed-signal integrated circuits and other electronic components and circuitry used in high voltage power conversion. Its products are used in power converters that convert electricity from a high-voltage source to the type of power required for a specified downstream use.

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

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