Delta Lloyd Asset Management N.V. Takes Position in Power Integrations, Inc. (POWI)
Delta Lloyd Asset Management N.V. acquired a new stake in Power Integrations, Inc. (NASDAQ:POWI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 70,000 shares of the semiconductor company’s stock, valued at approximately $5,103,000. Delta Lloyd Asset Management N.V. owned 0.24% of Power Integrations at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Huntington National Bank increased its stake in Power Integrations by 22.8% in the second quarter. Huntington National Bank now owns 1,504 shares of the semiconductor company’s stock valued at $110,000 after buying an additional 279 shares during the last quarter. Victory Capital Management Inc. increased its stake in Power Integrations by 22.7% in the first quarter. Victory Capital Management Inc. now owns 2,210 shares of the semiconductor company’s stock valued at $145,000 after buying an additional 409 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Power Integrations during the first quarter valued at approximately $156,000. Turner Investments LLC acquired a new stake in Power Integrations during the second quarter valued at approximately $182,000. Finally, PEAK6 Investments L.P. acquired a new stake in Power Integrations during the first quarter valued at approximately $212,000. Institutional investors own 95.75% of the company’s stock.
Shares of Power Integrations, Inc. (NASDAQ POWI) opened at 73.55 on Friday. The company has a market capitalization of $2.19 billion, a P/E ratio of 40.88 and a beta of 1.23. Power Integrations, Inc. has a 1-year low of $56.74 and a 1-year high of $82.80. The firm’s 50 day moving average price is $72.92 and its 200-day moving average price is $68.06.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, July 27th. The semiconductor company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $107.56 million for the quarter, compared to analyst estimates of $107.85 million. Power Integrations had a return on equity of 12.08% and a net margin of 13.37%. Power Integrations’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. Analysts expect that Power Integrations, Inc. will post $2.77 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, August 29th. Power Integrations’s dividend payout ratio (DPR) is 29.95%.
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A number of research firms have issued reports on POWI. BidaskClub downgraded Power Integrations from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Stifel Nicolaus restated a “buy” rating and set a $82.00 price target (up from $75.00) on shares of Power Integrations in a research note on Friday, June 30th. Zacks Investment Research upgraded Power Integrations from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Saturday, June 24th. Sidoti upgraded Power Integrations from a “neutral” rating to a “buy” rating in a research note on Monday, May 15th. Finally, Drexel Hamilton set a $84.00 price target on Power Integrations and gave the company a “buy” rating in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $78.50.
In related news, VP David Mh Matthews sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $71.22, for a total transaction of $71,220.00. Following the sale, the vice president now directly owns 43,405 shares of the company’s stock, valued at $3,091,304.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Raja Petrakian sold 2,272 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $68.89, for a total value of $156,518.08. Following the sale, the vice president now directly owns 30,815 shares in the company, valued at $2,122,845.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,593 shares of company stock worth $10,278,057. 4.30% of the stock is owned by corporate insiders.
About Power Integrations
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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