New York State Common Retirement Fund Has $13.38 Million Stake in Power Integrations, Inc. (NASDAQ:POWI)

New York State Common Retirement Fund increased its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,940 shares of the semiconductor company’s stock after purchasing an additional 1,536 shares during the period. New York State Common Retirement Fund owned approximately 0.29% of Power Integrations worth $13,379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in POWI. JPMorgan Chase & Co. lifted its holdings in shares of Power Integrations by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 2,556,319 shares of the semiconductor company’s stock worth $195,073,000 after buying an additional 154,032 shares in the last quarter. Wellington Management Group LLP raised its stake in Power Integrations by 5.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,275,969 shares of the semiconductor company’s stock worth $173,679,000 after purchasing an additional 123,988 shares in the last quarter. Congress Asset Management Co. MA raised its stake in Power Integrations by 26.9% in the 3rd quarter. Congress Asset Management Co. MA now owns 389,645 shares of the semiconductor company’s stock worth $29,734,000 after purchasing an additional 82,614 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Power Integrations by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,402,391 shares of the semiconductor company’s stock valued at $488,566,000 after purchasing an additional 81,455 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Power Integrations by 34.2% during the 3rd quarter. Rhumbline Advisers now owns 246,917 shares of the semiconductor company’s stock worth $18,842,000 after purchasing an additional 62,900 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Benchmark lifted their price target on shares of Power Integrations from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Stifel Nicolaus upped their target price on Power Integrations from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. TD Cowen raised their price target on Power Integrations from $65.00 to $80.00 and gave the stock a “market perform” rating in a research report on Friday, February 9th. StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Finally, Northland Securities upgraded shares of Power Integrations from an “under perform” rating to a “market perform” rating and set a $67.00 price objective on the stock in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.17.

Power Integrations Stock Up 0.9 %

Shares of POWI stock opened at $67.90 on Tuesday. The business has a fifty day simple moving average of $69.88 and a 200 day simple moving average of $74.50. The company has a market cap of $3.86 billion, a P/E ratio of 70.00 and a beta of 1.21. Power Integrations, Inc. has a twelve month low of $62.13 and a twelve month high of $99.60.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, February 8th. The semiconductor company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The firm had revenue of $89.51 million during the quarter, compared to analysts’ expectations of $90.21 million. Power Integrations had a net margin of 12.54% and a return on equity of 6.46%. As a group, equities research analysts anticipate that Power Integrations, Inc. will post 0.65 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. Power Integrations’s payout ratio is presently 82.47%.

Insider Transactions at Power Integrations

In related news, VP Doug Bailey sold 822 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $73.96, for a total transaction of $60,795.12. Following the sale, the vice president now owns 99,106 shares of the company’s stock, valued at approximately $7,329,879.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Doug Bailey sold 822 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $73.96, for a total value of $60,795.12. Following the completion of the transaction, the vice president now owns 99,106 shares in the company, valued at approximately $7,329,879.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Balu Balakrishnan sold 5,746 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $73.39, for a total transaction of $421,698.94. Following the sale, the chief executive officer now directly owns 513,693 shares in the company, valued at $37,699,929.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,411 shares of company stock worth $4,203,262. Corporate insiders own 1.50% of the company’s stock.

Power Integrations Company 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.