Palisade Capital Management LP Buys Shares of 57,159 Power Integrations, Inc. $POWI

Palisade Capital Management LP purchased a new position in Power Integrations, Inc. (NASDAQ:POWI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 57,159 shares of the semiconductor company’s stock, valued at approximately $4,788,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Power Integrations during the second quarter worth about $730,559,000. William Blair Investment Management LLC acquired a new stake in Power Integrations in the 2nd quarter valued at about $199,517,000. Snyder Capital Management L P lifted its stake in Power Integrations by 148.8% in the 4th quarter. Snyder Capital Management L P now owns 2,064,707 shares of the semiconductor company’s stock worth $73,380,000 after purchasing an additional 1,234,981 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Power Integrations by 1,885.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 943,365 shares of the semiconductor company’s stock worth $33,528,000 after purchasing an additional 895,857 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Power Integrations by 35.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,261,281 shares of the semiconductor company’s stock worth $90,926,000 after purchasing an additional 595,404 shares during the last quarter.

Power Integrations Trading Up 2.7%

Shares of POWI opened at $54.63 on Wednesday. The firm has a market cap of $3.05 billion, a P/E ratio of 121.40 and a beta of 1.58. Power Integrations, Inc. has a 12-month low of $30.86 and a 12-month high of $91.18. The company’s 50-day moving average price is $68.61 and its 200 day moving average price is $63.29.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $118.94 million for the quarter, compared to analysts’ expectations of $117.44 million. Power Integrations had a net margin of 5.58% and a return on equity of 5.50%. Power Integrations’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 earnings per share. Equities research analysts forecast that Power Integrations, Inc. will post 0.77 earnings per share for the current year.

Insider Activity

In other Power Integrations news, Director Balu Balakrishnan sold 124,287 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $86.44, for a total value of $10,743,368.28. Following the sale, the director owned 279,516 shares of the company’s stock, valued at $24,161,363.04. This trade represents a 30.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sunil Gupta sold 6,860 shares of Power Integrations stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $83.67, for a total value of $573,976.20. Following the completion of the transaction, the vice president owned 64,379 shares of the company’s stock, valued at $5,386,590.93. The trade was a 9.63% decrease in their position. The SEC filing for this sale provides additional information. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Weiss Ratings raised Power Integrations from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Stifel Nicolaus dropped their target price on Power Integrations from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Williams Trading set a $80.00 target price on Power Integrations in a research note on Thursday, August 6th. Finally, Needham & Company LLC reduced their price target on Power Integrations from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.67.

Power Integrations Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.