State of Wyoming Acquires New Shares in Power Integrations, Inc. $POWI

State of Wyoming bought a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,424 shares of the semiconductor company’s stock, valued at approximately $706,000.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its holdings in shares of Power Integrations by 576.3% in the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 536 shares during the period. Harbor Investment Advisory LLC purchased a new position in shares of Power Integrations in the second quarter valued at $33,000. Kestra Advisory Services LLC bought a new stake in shares of Power Integrations during the 4th quarter valued at $36,000. UMB Bank n.a. raised its stake in shares of Power Integrations by 61.7% during the 4th quarter. UMB Bank n.a. now owns 1,074 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 410 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Power Integrations by 125.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 814 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 453 shares in the last quarter.

Power Integrations Stock Performance

Shares of POWI stock opened at $62.75 on Monday. The company has a market capitalization of $3.51 billion, a PE ratio of 139.45 and a beta of 1.58. Power Integrations, Inc. has a 52-week low of $30.86 and a 52-week high of $91.18. The business’s fifty day moving average is $71.62 and its 200 day moving average is $62.80.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The business had revenue of $118.94 million during the quarter, compared to analysts’ expectations of $117.44 million. Power Integrations had a return on equity of 5.50% and a net margin of 5.58%.The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share. On average, sell-side analysts forecast that Power Integrations, Inc. will post 0.77 EPS for the current fiscal year.

Insider Activity

In related news, Director Nicholas Brathwaite sold 1,728 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $86.62, for a total value of $149,679.36. Following the transaction, the director directly owned 22,226 shares in the company, valued at approximately $1,925,216.12. This represents a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Balu Balakrishnan sold 124,287 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $86.44, for a total transaction of $10,743,368.28. Following the completion of the sale, the director directly owned 279,516 shares in the company, valued at $24,161,363.04. This represents a 30.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 327,877 shares of company stock worth $26,823,268. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

POWI has been the subject of several analyst reports. Stifel Nicolaus cut their target price on Power Integrations from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Needham & Company LLC decreased their price target on Power Integrations from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Susquehanna increased their price target on shares of Power Integrations from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Finally, Wall Street Zen raised shares of Power Integrations from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Power Integrations currently has an average rating of “Hold” and a consensus price target 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.