William Blair Investment Management LLC Purchases New Shares in Power Integrations, Inc. $POWI

William Blair Investment Management LLC bought a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,382,007 shares of the semiconductor company’s stock, valued at approximately $199,517,000.

Other hedge funds have also added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Power Integrations by 180.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 37,011 shares of the semiconductor company’s stock worth $1,895,000 after buying an additional 23,837 shares in the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in Power Integrations in the 1st quarter valued at approximately $3,138,000. Calamos Advisors LLC bought a new stake in shares of Power Integrations during the first quarter worth $1,181,000. Emerald Advisers LLC acquired a new position in shares of Power Integrations during the first quarter worth $5,941,000. Finally, Copeland Capital Management LLC lifted its stake in shares of Power Integrations by 12.6% in the 1st quarter. Copeland Capital Management LLC now owns 1,321,789 shares of the semiconductor company’s stock valued at $67,676,000 after acquiring an additional 147,882 shares during the last quarter.

Power Integrations Trading Up 0.6%

Shares of NASDAQ POWI opened at $55.18 on Friday. The firm’s 50-day moving average price is $69.71 and its 200-day moving average price is $63.06. Power Integrations, Inc. has a 1-year low of $30.86 and a 1-year high of $91.18. The firm has a market capitalization of $3.08 billion, a P/E ratio of 122.62 and a beta of 1.58.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. Power Integrations had a return on equity of 5.50% and a net margin of 5.58%.The company had revenue of $118.94 million during the quarter, compared to the consensus estimate of $117.44 million. During the same period last year, the business posted $0.35 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts forecast that Power Integrations, Inc. will post 0.77 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on POWI. Susquehanna upped their target price on Power Integrations from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Power Integrations from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Power Integrations from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Zacks Research cut shares of Power Integrations from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Williams Trading set a $80.00 price target on shares of Power Integrations in a report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.67.

Insiders Place Their Bets

In other news, VP Sunil Gupta sold 15,894 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $82.18, for a total transaction of $1,306,168.92. Following the transaction, the vice president directly owned 71,239 shares of the company’s stock, valued at $5,854,421.02. This represents a 18.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nicholas Brathwaite sold 6,655 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $82.71, for a total value of $550,435.05. Following the completion of the transaction, the director owned 23,954 shares in the company, valued at approximately $1,981,235.34. This represents a 21.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 273,997 shares of company stock worth $23,013,413. Corporate insiders own 1.20% of the company’s stock.

Power Integrations Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.