Power Integrations, Inc. (NASDAQ:POWI) Shares Acquired by Envestnet Asset Management Inc.

Posted by Defense World Staff on Sep 4th, 2023

Envestnet Asset Management Inc. increased its position in shares of Power Integrations, Inc. (NASDAQ:POWI – Free Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 174,760 shares of the semiconductor company’s stock after buying an additional 4,357 shares during the period. Envestnet Asset Management Inc. owned about 0.30% of Power Integrations worth $14,792,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in Power Integrations by 179.3% during the 1st quarter. Covestor Ltd now owns 863 shares of the semiconductor company’s stock worth $80,000 after buying an additional 554 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Power Integrations during the 1st quarter worth about $85,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Power Integrations during the 1st quarter worth about $90,000. Meeder Asset Management Inc. raised its position in shares of Power Integrations by 498.9% during the 4th quarter. Meeder Asset Management Inc. now owns 1,108 shares of the semiconductor company’s stock worth $79,000 after acquiring an additional 923 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Power Integrations during the 1st quarter worth about $102,000.

Power Integrations Stock Up 1.7 %

Shares of POWI stock opened at $85.44 on Monday. The stock’s 50-day moving average price is $89.11 and its 200 day moving average price is $85.13. Power Integrations, Inc. has a 52-week low of $59.16 and a 52-week high of $99.60. The stock has a market capitalization of $4.90 billion, a PE ratio of 54.08 and a beta of 1.20.

Power Integrations (NASDAQ:POWI – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Power Integrations had a net margin of 17.58% and a return on equity of 12.00%. The firm had revenue of $123.22 million for the quarter, compared to analyst estimates of $122.77 million. Analysts expect that Power Integrations, Inc. will post 1.17 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be given a $0.19 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.76 dividend on an annualized basis and a yield of 0.89%. Power Integrations’s payout ratio is currently 48.10%.

Insider Activity at Power Integrations

In related news, VP Doug Bailey sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $81.62, for a total value of $81,620.00. Following the completion of the sale, the vice president now owns 106,169 shares in the company, valued at $8,665,513.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Power Integrations news, VP Doug Bailey sold 1,000 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $81.62, for a total value of $81,620.00. Following the completion of the transaction, the vice president now owns 106,169 shares in the company, valued at $8,665,513.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Yang Chiah Yee sold 1,381 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was 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 in the company, valued at $3,151,957.82. The disclosure for this sale can be found here. Insiders sold a total of 24,823 shares of company stock worth $2,079,434 over the last 90 days. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

POWI has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of Power Integrations in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Susquehanna dropped their target price on shares of Power Integrations from $105.00 to $100.00 and set a “positive” rating on the stock in a research report on Friday, August 4th. Stifel Nicolaus upped their target price on Power Integrations from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. Finally, Northland Securities cut Power Integrations from an “outperform” rating to a “market perform” rating and set a $82.00 target price for the company. in a research report on Monday, July 17th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $88.14.

Check Out Our Latest Stock Report on Power Integrations

Power Integrations Company Profile

(Free Report)

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.