Power Integrations, Inc. (POWI) Shares Bought by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans raised its position in Power Integrations, Inc. (NASDAQ:POWI) by 7.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,910 shares of the semiconductor company’s stock after buying an additional 1,220 shares during the period. Thrivent Financial For Lutherans owned about 0.06% of Power Integrations worth $1,306,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Huntington National Bank increased its stake in Power Integrations by 22.8% during the 2nd quarter. Huntington National Bank now owns 1,504 shares of the semiconductor company’s stock worth $110,000 after buying an additional 279 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Power Integrations by 22.7% during the first quarter. Victory Capital Management Inc. now owns 2,210 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 409 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Power Integrations during the first quarter valued at approximately $156,000. Riverhead Capital Management LLC raised its holdings in shares of Power Integrations by 71.2% during the second quarter. Riverhead Capital Management LLC now owns 2,397 shares of the semiconductor company’s stock valued at $175,000 after acquiring an additional 997 shares during the last quarter. Finally, Turner Investments LLC acquired a new position in shares of Power Integrations during the second quarter valued at approximately $182,000. Institutional investors own 95.38% of the company’s stock.
Shares of Power Integrations, Inc. (NASDAQ:POWI) opened at 73.40 on Wednesday. Power Integrations, Inc. has a 52 week low of $60.67 and a 52 week high of $82.80. The stock has a market cap of $2.18 billion, a PE ratio of 40.80 and a beta of 1.28. The company’s 50-day moving average is $71.84 and its 200 day moving average is $69.34.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $107.56 million during the quarter, compared to analysts’ expectations 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 was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 earnings per share. Analysts forecast that Power Integrations, Inc. will post $2.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, August 31st were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.76%. The ex-dividend date was Tuesday, August 29th. Power Integrations’s dividend payout ratio (DPR) is 29.95%.
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Several equities analysts have recently weighed in on the company. Deutsche Bank AG downgraded Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research report on Tuesday, July 25th. Stifel Nicolaus reiterated a “buy” rating and set a $85.00 price target on shares of Power Integrations in a research report on Sunday, September 3rd. Zacks Investment Research cut Power Integrations from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Drexel Hamilton set a $84.00 price objective on Power Integrations and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, BidaskClub downgraded Power Integrations from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 16th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Power Integrations currently has a consensus rating of “Buy” and a consensus target price of $78.50.
In related news, Director Nicholas Brathwaite sold 4,000 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $80.00, for a total value of $320,000.00. Following the sale, the director now directly owns 28,109 shares of the company’s stock, valued at approximately $2,248,720. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP David Mh Matthews sold 1,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $71.22, for a total transaction of $71,220.00. Following the completion of the sale, the vice president now directly owns 43,405 shares in the company, valued at $3,091,304.10. The disclosure for this sale can be found here. Insiders sold 72,593 shares of company stock worth $5,644,357 in the last three months. 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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