Geode Capital Management LLC Buys 63,150 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Geode Capital Management LLC lifted its stake in Power Integrations, Inc. (NASDAQ:POWI) by 4.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,575,437 shares of the semiconductor company’s stock after purchasing an additional 63,150 shares during the quarter. Geode Capital Management LLC’s holdings in Power Integrations were worth $101,033,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in POWI. Disciplined Growth Investors Inc. MN increased its holdings in Power Integrations by 4.0% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,111,663 shares of the semiconductor company’s stock worth $135,400,000 after acquiring an additional 80,761 shares in the last quarter. Barclays PLC increased its stake in shares of Power Integrations by 173.4% in the third quarter. Barclays PLC now owns 180,754 shares of the semiconductor company’s stock worth $11,591,000 after purchasing an additional 114,644 shares in the last quarter. MML Investors Services LLC raised its position in shares of Power Integrations by 3.4% during the 3rd quarter. MML Investors Services LLC now owns 6,231 shares of the semiconductor company’s stock valued at $400,000 after purchasing an additional 207 shares during the period. First National Bank of Omaha raised its position in shares of Power Integrations by 1.3% during the 3rd quarter. First National Bank of Omaha now owns 40,454 shares of the semiconductor company’s stock valued at $2,594,000 after purchasing an additional 526 shares during the period. Finally, Pier Capital LLC lifted its stake in shares of Power Integrations by 1.9% during the 3rd quarter. Pier Capital LLC now owns 112,474 shares of the semiconductor company’s stock valued at $7,212,000 after buying an additional 2,139 shares in the last quarter.

Power Integrations Trading Down 4.1 %

NASDAQ:POWI opened at $62.42 on Thursday. The company has a market capitalization of $3.55 billion, a P/E ratio of 94.58, a P/E/G ratio of 7.01 and a beta of 1.12. The business’s 50-day moving average is $63.94 and its 200 day moving average is $66.20. Power Integrations, Inc. has a 12 month low of $56.63 and a 12 month high of $87.02.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The firm had revenue of $115.84 million during the quarter, compared to the consensus estimate of $114.83 million. During the same period in the prior year, the company earned $0.35 EPS. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, research analysts forecast that Power Integrations, Inc. will post 0.54 earnings per share for the current year.

Power Integrations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.21 dividend. This is a boost from Power Integrations’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, November 29th. Power Integrations’s dividend payout ratio (DPR) is presently 127.27%.

Insider Transactions at Power Integrations

In other Power Integrations news, VP Clifford Walker sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $64.36, for a total transaction of $643,600.00. Following the sale, the vice president now directly owns 130,934 shares of the company’s stock, valued at $8,426,912.24. The trade was a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Doug Bailey sold 8,549 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $64.96, for a total value of $555,343.04. Following the completion of the sale, the vice president now directly owns 86,375 shares of the company’s stock, valued at $5,610,920. The trade was a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,655 shares of company stock worth $1,205,566 in the last three months. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Susquehanna cut their target price on Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a research report on Thursday, November 7th. Finally, Benchmark reissued a “buy” rating and issued a $78.00 price target on shares of Power Integrations in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.00.

Power Integrations Profile

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.