Congress Asset Management Co. Has $40.17 Million Stock Position in Power Integrations, Inc. $POWI

Congress Asset Management Co. trimmed its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 718,673 shares of the semiconductor company’s stock after selling 18,461 shares during the period. Congress Asset Management Co.’s holdings in Power Integrations were worth $40,174,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of POWI. Allworth Financial LP increased its position in Power Integrations by 257.8% in the 1st quarter. Allworth Financial LP now owns 594 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 428 shares during the last quarter. Bayforest Capital Ltd increased its position in Power Integrations by 54.3% in the 1st quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 222 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Power Integrations by 576.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 536 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Power Integrations by 364.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 622 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 488 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in Power Integrations by 841.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 781 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 698 shares during the last quarter.

Insider Activity at Power Integrations

In related news, VP Doug Bailey sold 16,989 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $46.41, for a total transaction of $788,459.49. Following the completion of the sale, the vice president owned 50,798 shares in the company, valued at $2,357,535.18. This represents a 25.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Gagan Jain sold 2,036 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $46.05, for a total value of $93,757.80. Following the sale, the vice president owned 18,812 shares of the company’s stock, valued at approximately $866,292.60. The trade was a 9.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,470 shares of company stock valued at $1,697,214. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

POWI has been the topic of several research reports. Wall Street Zen lowered Power Integrations from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Susquehanna dropped their target price on Power Integrations from $70.00 to $55.00 and set a “positive” rating on the stock in a research report on Thursday, August 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of Power Integrations in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Power Integrations presently has a consensus rating of “Buy” and a consensus price target of $61.67.

Power Integrations Stock Performance

POWI opened at $40.02 on Friday. The company has a market cap of $2.25 billion, a PE ratio of 69.00, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. The stock has a 50-day moving average of $46.32 and a 200-day moving average of $50.43. Power Integrations, Inc. has a 52-week low of $39.15 and a 52-week high of $69.53.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $115.85 million during the quarter, compared to the consensus estimate of $115.02 million. Power Integrations had a return on equity of 5.86% and a net margin of 7.59%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 EPS. On average, research analysts predict that Power Integrations, Inc. will post 0.93 earnings per share for the current year.

Power Integrations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 2.1%. Power Integrations’s dividend payout ratio is presently 144.83%.

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.