Russell Investments Group Ltd. Sells 969 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Russell Investments Group Ltd. lessened its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,603 shares of the semiconductor company’s stock after selling 969 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.12% of Power Integrations worth $5,387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in POWI. Raymond James & Associates raised its holdings in Power Integrations by 11.9% in the third quarter. Raymond James & Associates now owns 14,030 shares of the semiconductor company’s stock worth $1,071,000 after purchasing an additional 1,494 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Power Integrations by 18.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,268 shares of the semiconductor company’s stock worth $860,000 after purchasing an additional 1,791 shares in the last quarter. Advisor Partners II LLC raised its holdings 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 purchasing an additional 1,827 shares in the last quarter. Park Avenue Securities LLC bought a new position in Power Integrations in the third quarter worth $322,000. Finally, Inspire Investing LLC raised its holdings in Power Integrations by 18.5% in the third 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.

Power Integrations Price Performance

Power Integrations stock opened at $77.34 on Friday. Power Integrations, Inc. has a one year low of $62.13 and a one year high of $99.60. The stock has a market capitalization of $4.40 billion, a PE ratio of 84.07 and a beta of 1.20. The business’s fifty day moving average is $69.70 and its 200 day moving average is $74.28.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.03 by $0.09. Power Integrations had a return on equity of 6.46% and a net margin of 12.54%. The company had revenue of $89.51 million for the quarter, compared to analysts’ expectations of $90.21 million. As a group, sell-side analysts expect that Power Integrations, Inc. will post 0.65 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.20 per share. The ex-dividend date is Friday, May 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.03%. Power Integrations’s dividend payout ratio (DPR) is presently 86.96%.

Insiders Place Their Bets

In other Power Integrations news, CEO Balu Balakrishnan sold 9,799 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $68.61, for a total value of $672,309.39. Following the transaction, the chief executive officer now directly owns 552,161 shares of the company’s stock, valued at $37,883,766.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Sandeep Nayyar sold 2,812 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $79.99, for a total value of $224,931.88. Following the transaction, the chief financial officer now owns 67,359 shares of the company’s stock, valued at $5,388,046.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Balu Balakrishnan sold 9,799 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $68.61, for a total value of $672,309.39. Following the completion of the transaction, the chief executive officer now directly owns 552,161 shares in the company, valued at approximately $37,883,766.21. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,106 shares of company stock valued at $3,518,339. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

POWI has been the topic of a number of recent research reports. TD Cowen increased their target price on Power Integrations from $65.00 to $80.00 and gave the stock a “market perform” rating in a research note 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. Benchmark increased their target price on Power Integrations from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Northland Securities raised Power Integrations from an “under perform” rating to a “market perform” rating and set a $67.00 target price on the stock in a research note on Monday, February 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Power Integrations presently has a consensus rating of “Moderate Buy” and an average price target of $87.40.

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.