Oppenheimer Asset Management Inc. Reduces Holdings in Power Integrations, Inc. (NASDAQ:POWI)

Oppenheimer Asset Management Inc. trimmed its position in shares of Power Integrations, Inc. (NASDAQ:POWIFree Report) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,620 shares of the semiconductor company’s stock after selling 196 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Power Integrations were worth $1,039,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Inspire Investing LLC raised its holdings in shares of Power Integrations by 18.5% in the 3rd quarter. Inspire Investing LLC now owns 4,547 shares of the semiconductor company’s stock worth $347,000 after purchasing an additional 711 shares in the last quarter. Advisor Partners II LLC grew its position in Power Integrations by 80.5% in the third quarter. Advisor Partners II LLC now owns 4,097 shares of the semiconductor company’s stock worth $313,000 after acquiring an additional 1,827 shares in the last quarter. Bessemer Group Inc. grew its position in Power Integrations by 238.1% in the second quarter. Bessemer Group Inc. now owns 5,541 shares of the semiconductor company’s stock worth $524,000 after acquiring an additional 3,902 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Power Integrations during the 3rd quarter worth $349,000. Finally, Ellis Investment Partners LLC bought a new stake in shares of Power Integrations during the 2nd quarter worth $209,000.

Power Integrations Stock Performance

Shares of POWI stock opened at $75.12 on Thursday. Power Integrations, Inc. has a 52-week low of $66.90 and a 52-week high of $99.60. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 67.07 and a beta of 1.25. The firm has a fifty day moving average of $79.38 and a 200-day moving average of $79.20.

Power Integrations (NASDAQ:POWIGet Free Report) last announced its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Power Integrations had a net margin of 13.40% and a return on equity of 8.52%. The business had revenue of $125.51 million during the quarter, compared to analyst estimates of $130.75 million. On average, sell-side analysts predict that Power Integrations, Inc. will post 0.75 earnings per share for the current year.

Power Integrations Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Thursday, November 30th were paid a $0.20 dividend. This is a boost from Power Integrations’s previous quarterly dividend of $0.19. The ex-dividend date was Wednesday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.06%. Power Integrations’s dividend payout ratio is currently 71.43%.

Insider Activity

In related news, CEO Balu Balakrishnan sold 47,422 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $77.60, for a total transaction of $3,679,947.20. Following the completion of the sale, the chief executive officer now owns 525,603 shares in the company, valued at approximately $40,786,792.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Balu Balakrishnan sold 47,422 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $77.60, for a total transaction of $3,679,947.20. Following the completion of the sale, the chief executive officer now owns 525,603 shares in the company, valued at approximately $40,786,792.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Nayyar sold 14,652 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $76.22, for a total transaction of $1,116,775.44. Following the sale, the chief financial officer now owns 74,055 shares of the company’s stock, valued at approximately $5,644,472.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,816 shares of company stock worth $6,013,654. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on POWI. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus upped their price objective on shares of Power Integrations from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Finally, Susquehanna upped their target price on shares of Power Integrations from $80.00 to $100.00 and gave the company a “positive” rating in a research note on Monday, December 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.40.

Check Out Our Latest Stock Analysis on POWI

Power Integrations Company Profile

(Free Report)

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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