JPMorgan Chase & Co. Has $3.40 Million Holdings in Power Integrations Inc (POWI)

JPMorgan Chase & Co. trimmed its holdings in shares of Power Integrations Inc (NASDAQ:POWI) by 8.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,203 shares of the semiconductor company’s stock after selling 4,263 shares during the period. JPMorgan Chase & Co. owned about 0.16% of Power Integrations worth $3,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of POWI. Legal & General Group Plc boosted its holdings in shares of Power Integrations by 9.4% during the second quarter. Legal & General Group Plc now owns 57,673 shares of the semiconductor company’s stock worth $4,204,000 after purchasing an additional 4,970 shares during the period. Chicago Equity Partners LLC boosted its holdings in shares of Power Integrations by 104.1% during the second quarter. Chicago Equity Partners LLC now owns 12,520 shares of the semiconductor company’s stock worth $913,000 after purchasing an additional 6,385 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Power Integrations during the second quarter worth about $346,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of Power Integrations during the third quarter worth about $3,660,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Power Integrations by 2.3% during the second quarter. Wells Fargo & Company MN now owns 115,446 shares of the semiconductor company’s stock worth $8,416,000 after purchasing an additional 2,624 shares during the period. Institutional investors and hedge funds own 97.25% of the company’s stock.

In other Power Integrations news, VP David Mh Matthews sold 704 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $78.33, for a total transaction of $55,144.32. Following the completion of the transaction, the vice president now owns 42,654 shares of the company’s stock, valued at $3,341,087.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven Sharp sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.49, for a total transaction of $794,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,089 shares of company stock valued at $5,077,253. 4.30% of the stock is owned by insiders.

POWI has been the subject of a number of analyst reports. Drexel Hamilton reiterated a “buy” rating and set a $84.00 target price on shares of Power Integrations in a report on Friday, October 27th. Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Wednesday, November 1st. Stifel Nicolaus reissued a “buy” rating on shares of Power Integrations in a research note on Wednesday, September 13th. BidaskClub downgraded shares of Power Integrations from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Finally, Susquehanna Bancshares initiated coverage on shares of Power Integrations in a research note on Wednesday, December 13th. They issued a “neutral” rating and a $80.00 price target for the company. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $81.40.

Power Integrations Inc (POWI) opened at $76.95 on Thursday. Power Integrations Inc has a one year low of $61.44 and a one year high of $86.60. The stock has a market cap of $2,290.00, a PE ratio of 40.08 and a beta of 1.27.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.05. Power Integrations had a net margin of 13.69% and a return on equity of 11.95%. The company had revenue of $111.30 million during the quarter, compared to the consensus estimate of $111.82 million. During the same period in the prior year, the firm earned $0.67 earnings per share. Power Integrations’s revenue was up 9.5% on a year-over-year basis. equities analysts anticipate that Power Integrations Inc will post 2.06 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Thursday, November 30th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Wednesday, November 29th. Power Integrations’s payout ratio is currently 29.17%.

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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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Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

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