Bahl & Gaynor Inc. reduced its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 11.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,196 shares of the semiconductor company’s stock after selling 2,198 shares during the period. Bahl & Gaynor Inc. owned 0.06% of Power Integrations worth $1,167,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Jennison Associates LLC increased its stake in Power Integrations by 0.4% in the 2nd quarter. Jennison Associates LLC now owns 5,424 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 23 shares during the last quarter. Renaissance Group LLC increased its stake in Power Integrations by 1.1% in the 2nd quarter. Renaissance Group LLC now owns 5,278 shares of the semiconductor company’s stock valued at $385,000 after buying an additional 56 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Power Integrations by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the semiconductor company’s stock valued at $882,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System increased its stake in Power Integrations by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 15,474 shares of the semiconductor company’s stock valued at $1,128,000 after buying an additional 100 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Power Integrations by 3.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,452 shares of the semiconductor company’s stock valued at $227,000 after buying an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

In other Power Integrations news, VP Doug Bailey sold 4,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $72.93, for a total value of $291,720.00. Following the transaction, the vice president now directly owns 46,976 shares of the company’s stock, valued at $3,425,959.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Balu Balakrishnan sold 65,000 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $78.06, for a total transaction of $5,073,900.00. Following the completion of the transaction, the insider now directly owns 319,576 shares in the company, valued at $24,946,102.56. The disclosure for this sale can be found here. Insiders sold 134,593 shares of company stock worth $10,278,057 over the last ninety days. Insiders own 4.30% of the company’s stock.

Shares of Power Integrations, Inc. (NASDAQ POWI) opened at 73.85 on Friday. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 41.05 and a beta of 1.23. The firm has a 50-day moving average of $71.13 and a 200 day moving average of $68.55. Power Integrations, Inc. has a 52 week low of $59.41 and a 52 week high of $82.80.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Power Integrations had a net margin of 13.37% and a return on equity of 12.08%. The firm had revenue of $107.56 million for the quarter, compared to analyst estimates of $107.85 million. During the same period last year, the firm earned $0.61 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Power Integrations, Inc. will post $2.77 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, August 29th. Power Integrations’s dividend payout ratio (DPR) is 29.95%.

Several equities research analysts have issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 price target (up from $82.00) on shares of Power Integrations in a research note on Sunday, July 30th. BidaskClub upgraded shares of Power Integrations from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Zacks Investment Research lowered shares of Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Tuesday, May 30th. Drexel Hamilton set a $84.00 price target on shares of Power Integrations and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Deutsche Bank AG lowered shares of Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Tuesday, July 25th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Power Integrations currently has an average rating of “Buy” and an average target price of $78.50.

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Power Integrations Company Profile

Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.

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

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