Chicago Equity Partners LLC Grows Position in Power Integrations, Inc. (POWI)
Chicago Equity Partners LLC increased its position in Power Integrations, Inc. (NASDAQ:POWI) by 16.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,530 shares of the semiconductor company’s stock after buying an additional 2,010 shares during the period. Chicago Equity Partners LLC’s holdings in Power Integrations were worth $1,064,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its holdings in Power Integrations by 15.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 142,197 shares of the semiconductor company’s stock worth $9,350,000 after buying an additional 18,538 shares during the last quarter. Legal & General Group Plc boosted its position in 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. Renaissance Group LLC boosted its position in Power Integrations by 1.1% during the second quarter. Renaissance Group LLC now owns 5,278 shares of the semiconductor company’s stock worth $385,000 after purchasing an additional 56 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Power Integrations during the second quarter worth approximately $346,000. Finally, Wells Fargo & Company MN boosted its position in 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. Hedge funds and other institutional investors own 98.24% of the company’s stock.
POWI has been the subject of a number of recent analyst reports. Deutsche Bank AG cut Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Tuesday, July 25th. Drexel Hamilton set a $84.00 target price on Power Integrations and gave the stock a “buy” rating in a research report on Friday, July 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 target price (up previously from $82.00) on shares of Power Integrations in a research report on Sunday, July 30th. BidaskClub cut Power Integrations from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research raised Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Power Integrations has a consensus rating of “Buy” and a consensus target price of $83.50.
Shares of Power Integrations, Inc. (POWI) opened at $78.05 on Thursday. The stock has a market capitalization of $2,328.31, a P/E ratio of 37.31 and a beta of 1.29. Power Integrations, Inc. has a 12-month low of $61.44 and a 12-month high of $86.60.
Power Integrations (NASDAQ:POWI) last announced its earnings results on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Power Integrations had a return on equity of 11.95% and a net margin of 13.69%. The firm had revenue of $111.30 million during the quarter, compared to analysts’ expectations of $111.82 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. equities analysts predict that Power Integrations, Inc. will post 2.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.56 annualized dividend and a dividend yield of 0.72%. Power Integrations’s dividend payout ratio is 29.02%.
In other news, VP Ben Sutherland sold 500 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $79.58, for a total value of $39,790.00. Following the completion of the sale, the vice president now directly owns 40,965 shares of the company’s stock, valued at $3,259,994.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Balu Balakrishnan sold 51,350 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $80.71, for a total value of $4,144,458.50. Following the completion of the sale, the chief executive officer now directly owns 268,226 shares of the company’s stock, valued at $21,648,520.46. The disclosure for this sale can be found here. Insiders sold 55,978 shares of company stock valued at $4,477,665 over the last three months. 4.30% of the stock is owned by company insiders.
Power Integrations Profile
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.
Want to see what other hedge funds are holding POWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Power Integrations, Inc. (NASDAQ:POWI).
Receive News & Ratings for Power Integrations Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Power Integrations Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.