Power Integrations, Inc. (NASDAQ:POWI) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 3.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 35,335 shares of the semiconductor company’s stock after selling 1,227 shares during the quarter. Amalgamated Bank’s holdings in Power Integrations were worth $2,901,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in POWI. JPMorgan Chase & Co. raised its position in Power Integrations by 6.4% in the third quarter. JPMorgan Chase & Co. now owns 2,556,319 shares of the semiconductor company’s stock valued at $195,073,000 after purchasing an additional 154,032 shares during the period. Wellington Management Group LLP boosted its stake in shares of Power Integrations by 5.8% in the third quarter. Wellington Management Group LLP now owns 2,275,969 shares of the semiconductor company’s stock valued at $173,679,000 after purchasing an additional 123,988 shares during the period. Congress Asset Management Co. MA increased its stake in Power Integrations by 26.9% during the 3rd quarter. Congress Asset Management Co. MA now owns 389,645 shares of the semiconductor company’s stock worth $29,734,000 after buying an additional 82,614 shares during the period. Vanguard Group Inc. boosted its position in Power Integrations by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,402,391 shares of the semiconductor company’s stock valued at $488,566,000 after buying an additional 81,455 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Power Integrations by 34.2% during the third quarter. Rhumbline Advisers now owns 246,917 shares of the semiconductor company’s stock worth $18,842,000 after acquiring an additional 62,900 shares during the last quarter.

Insider Buying and Selling

In other Power Integrations news, VP Doug Bailey sold 423 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $74.98, for a total value of $31,716.54. Following the transaction, the vice president now owns 98,863 shares in the company, valued at $7,412,747.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Power Integrations news, CEO Balu Balakrishnan sold 5,232 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $81.02, for a total transaction of $423,896.64. Following the completion of the sale, the chief executive officer now owns 508,461 shares of the company’s stock, valued at $41,195,510.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Doug Bailey sold 423 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $74.98, for a total transaction of $31,716.54. Following the sale, the vice president now directly owns 98,863 shares of the company’s stock, valued at $7,412,747.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,106 shares of company stock worth $3,518,339. Corporate insiders own 1.70% of the company’s stock.

Power Integrations Stock Performance

Shares of NASDAQ:POWI opened at $75.41 on Friday. The firm has a 50 day simple moving average of $69.75 and a 200 day simple moving average of $74.31. Power Integrations, Inc. has a 52 week low of $62.13 and a 52 week high of $99.60. The company has a market cap of $4.28 billion, a PE ratio of 81.97, a price-to-earnings-growth ratio of 4.86 and a beta of 1.20.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.09. The firm had revenue of $89.51 million during the quarter, compared to the consensus estimate of $90.21 million. Power Integrations had a return on equity of 6.13% and a net margin of 12.28%. On average, equities analysts predict that Power Integrations, Inc. will post 0.65 earnings per share for the current year.

Power Integrations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, May 30th. Power Integrations’s dividend payout ratio is currently 86.96%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on POWI. Northland Securities upgraded Power Integrations from an “under perform” rating to a “market perform” rating and set a $67.00 price objective on the stock in a research note on Monday, February 26th. TD Cowen boosted their price target on shares of Power Integrations from $65.00 to $80.00 and gave the company a “market perform” rating in a report on Friday, February 9th. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, Benchmark boosted their target price on shares of Power Integrations from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.40.

About Power Integrations

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.