Plato Investment Management Ltd Sells 1,233 Shares of Power Integrations, Inc. $POWI

Plato Investment Management Ltd reduced its stake in Power Integrations, Inc. (NASDAQ:POWI) by 63.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 704 shares of the semiconductor company’s stock after selling 1,233 shares during the period. Plato Investment Management Ltd’s holdings in Power Integrations were worth $39,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Atria Investments Inc grew its stake in Power Integrations by 31.6% in the second quarter. Atria Investments Inc now owns 9,192 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 2,205 shares in the last quarter. Assetmark Inc. grew its position in shares of Power Integrations by 16.3% during the 2nd quarter. Assetmark Inc. now owns 20,554 shares of the semiconductor company’s stock worth $1,149,000 after buying an additional 2,874 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Power Integrations by 475.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 478 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 395 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Power Integrations during the second quarter valued at approximately $332,000. Finally, Envestnet Asset Management Inc. boosted its position in Power Integrations by 4.1% during the second quarter. Envestnet Asset Management Inc. now owns 301,757 shares of the semiconductor company’s stock valued at $16,868,000 after purchasing an additional 11,785 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on POWI. Susquehanna lowered their target price on shares of Power Integrations from $70.00 to $55.00 and set a “positive” rating for the company in a research note on Thursday, August 7th. Wall Street Zen cut shares of Power Integrations from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Benchmark reiterated a “buy” rating and set a $55.00 price objective on shares of Power Integrations in a research note on Tuesday, September 23rd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Power Integrations in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.67.

Insider Buying and Selling

In other Power Integrations news, VP Gagan Jain sold 2,036 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $46.05, for a total value of $93,757.80. Following the completion of the transaction, the vice president directly owned 18,812 shares of the company’s stock, valued at approximately $866,292.60. The trade was a 9.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Doug Bailey sold 16,989 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $46.41, for a total transaction of $788,459.49. Following the completion of the transaction, the vice president owned 50,798 shares of the company’s stock, valued at approximately $2,357,535.18. This represents a 25.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 36,470 shares of company stock valued at $1,697,214 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

Power Integrations Trading Down 0.6%

Shares of NASDAQ POWI opened at $41.62 on Tuesday. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 71.76, a PEG ratio of 2.71 and a beta of 1.37. The company has a 50 day simple moving average of $42.90 and a two-hundred day simple moving average of $48.83. Power Integrations, Inc. has a 12 month low of $34.55 and a 12 month high of $69.53.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $115.85 million during the quarter, compared to the consensus estimate of $115.02 million. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 earnings per share. Analysts forecast that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, August 29th. Power Integrations’s payout ratio is 144.83%.

About Power Integrations

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.