Texas Permanent School Fund Corp grew its position in Power Integrations, Inc. (NASDAQ:POWI – Free Report) by 32.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 51,106 shares of the semiconductor company’s stock after buying an additional 12,652 shares during the period. Texas Permanent School Fund Corp owned 0.09% of Power Integrations worth $4,326,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in POWI. Signaturefd LLC raised its holdings in Power Integrations by 31.1% during the 4th quarter. Signaturefd LLC now owns 1,100 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 261 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of Power Integrations by 498.9% during the fourth quarter. Meeder Asset Management Inc. now owns 1,108 shares of the semiconductor company’s stock worth $79,000 after buying an additional 923 shares during the last quarter. Covestor Ltd lifted its holdings in Power Integrations by 179.3% in the first quarter. Covestor Ltd now owns 863 shares of the semiconductor company’s stock valued at $80,000 after buying an additional 554 shares during the period. Advisors Asset Management Inc. boosted its stake in Power Integrations by 48.1% in the fourth quarter. Advisors Asset Management Inc. now owns 1,604 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 521 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in Power Integrations by 27.6% during the 4th quarter. First Horizon Advisors Inc. now owns 1,791 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 387 shares during the period. Institutional investors own 99.82% of the company’s stock.
Power Integrations Trading Up 0.3 %
Shares of POWI stock opened at $92.12 on Monday. Power Integrations, Inc. has a 12 month low of $59.16 and a 12 month high of $99.60. The firm’s 50 day moving average is $90.35 and its 200 day moving average is $84.61. The stock has a market capitalization of $5.28 billion, a P/E ratio of 40.40 and a beta of 1.17.
Power Integrations Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, May 30th. This represents a $0.76 annualized dividend and a yield of 0.83%. Power Integrations’s dividend payout ratio is 33.33%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on POWI. Northland Securities downgraded Power Integrations from an “outperform” rating to a “market perform” rating and set a $82.00 price target on the stock. in a research note on Monday, July 17th. Stifel Nicolaus raised their price objective on shares of Power Integrations from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Power Integrations from $75.00 to $80.00 in a research report on Friday, May 5th. StockNews.com initiated coverage on shares of Power Integrations in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Susquehanna boosted their price objective on shares of Power Integrations from $95.00 to $100.00 in a report on Friday, May 5th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $89.38.
Insider Activity
In other news, CEO Balu Balakrishnan sold 21,674 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $89.85, for a total transaction of $1,947,408.90. Following the completion of the sale, the chief executive officer now owns 572,885 shares of the company’s stock, valued at approximately $51,473,717.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Power Integrations news, VP Yang Chiah Yee sold 1,381 shares of Power Integrations stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $91.43, for a total transaction of $126,264.83. Following the transaction, the vice president now owns 34,474 shares of the company’s stock, valued at $3,151,957.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Balu Balakrishnan sold 21,674 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $89.85, for a total transaction of $1,947,408.90. Following the sale, the chief executive officer now owns 572,885 shares in the company, valued at $51,473,717.25. The disclosure for this sale can be found here. Insiders have sold a total of 48,408 shares of company stock valued at $4,302,864 in the last 90 days. 1.70% of the stock is currently owned by insiders.
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.
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