Crossmark Global Holdings Inc. purchased a new position in shares of Power Integrations, Inc. (NASDAQ:POWI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,603 shares of the semiconductor company’s stock, valued at approximately $410,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Koch Industries Inc. purchased a new stake in shares of Power Integrations during the 2nd quarter worth $209,000. Artemis Investment Management LLP purchased a new stake in shares of Power Integrations during the 2nd quarter worth $15,300,000. Teachers Advisors LLC lifted its stake in shares of Power Integrations by 148.6% during the 2nd quarter. Teachers Advisors LLC now owns 229,555 shares of the semiconductor company’s stock worth $16,735,000 after purchasing an additional 137,216 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in shares of Power Integrations by 138.7% during the 2nd quarter. Eagle Asset Management Inc. now owns 201,414 shares of the semiconductor company’s stock worth $14,683,000 after purchasing an additional 117,027 shares during the last quarter. Finally, Atlanta Capital Management Co. L L C lifted its stake in shares of Power Integrations by 27.2% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 387,565 shares of the semiconductor company’s stock worth $28,253,000 after purchasing an additional 82,908 shares during the last quarter. 97.66% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on POWI. Zacks Investment Research upgraded Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. BidaskClub cut 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 $85.00 price objective on shares of Power Integrations in a research note on Wednesday, October 4th. Finally, Drexel Hamilton set a $84.00 price objective on Power Integrations and gave the stock a “buy” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Power Integrations presently has an average rating of “Buy” and an average target price of $83.50.
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Shares of Power Integrations, Inc. (POWI) opened at $81.10 on Thursday. Power Integrations, Inc. has a 12 month low of $61.44 and a 12 month high of $86.60. The company has a market capitalization of $2,423.41, a PE ratio of 38.83 and a beta of 1.29.
Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Power Integrations had a return on equity of 11.95% and a net margin of 13.69%. The company had revenue of $111.30 million during the quarter, compared to analysts’ expectations of $111.82 million. During the same period last year, the business posted $0.67 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. analysts expect that Power Integrations, Inc. will post 2.06 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, November 29th. Power Integrations’s dividend payout ratio (DPR) is presently 29.02%.
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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