Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 409,271 Power Integrations, Inc. $POWI

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Power Integrations, Inc. (NASDAQ:POWI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 409,271 shares of the semiconductor company’s stock, valued at approximately $34,281,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Baird Financial Group Inc. boosted its stake in shares of Power Integrations by 5.4% in the 1st quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company’s stock valued at $255,000 after purchasing an additional 261 shares in the last quarter. Royal Bank of Canada increased its position in shares of Power Integrations by 5.0% during the 1st quarter. Royal Bank of Canada now owns 75,792 shares of the semiconductor company’s stock worth $3,827,000 after purchasing an additional 3,622 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Power Integrations by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,680 shares of the semiconductor company’s stock worth $1,701,000 after purchasing an additional 1,461 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Power Integrations by 14.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 572,360 shares of the semiconductor company’s stock valued at $28,904,000 after purchasing an additional 74,107 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Power Integrations by 15.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,754 shares of the semiconductor company’s stock valued at $8,825,000 after purchasing an additional 23,389 shares during the last quarter.

Wall Street Analysts Forecast Growth

POWI has been the topic of several research analyst reports. Needham & Company LLC decreased their price objective on shares of Power Integrations from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Williams Trading set a $80.00 target price on shares of Power Integrations in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Power Integrations in a report on Friday, May 8th. Weiss Ratings upgraded Power Integrations from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Finally, Stifel Nicolaus dropped their price target on Power Integrations from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Power Integrations presently has an average rating of “Moderate Buy” and an average price target of $72.67.

Insider Buying and Selling

In other news, Director Nicholas Brathwaite sold 1,728 shares of Power Integrations stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $86.62, for a total value of $149,679.36. Following the completion of the sale, the director directly owned 22,226 shares of the company’s stock, valued at approximately $1,925,216.12. This trade represents a 7.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sunil Gupta sold 6,860 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $83.67, for a total value of $573,976.20. Following the sale, the vice president owned 64,379 shares of the company’s stock, valued at approximately $5,386,590.93. The trade was a 9.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 132,875 shares of company stock worth $11,467,024 in the last quarter. Insiders own 1.20% of the company’s stock.

Power Integrations Stock Down 3.6%

Shares of NASDAQ:POWI opened at $53.18 on Tuesday. The firm has a market cap of $2.97 billion, a P/E ratio of 118.18 and a beta of 1.58. Power Integrations, Inc. has a 12 month low of $30.86 and a 12 month high of $91.18. The company’s 50-day moving average price is $69.11 and its two-hundred day moving average price is $63.23.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Power Integrations had a net margin of 5.58% and a return on equity of 5.50%. The company had revenue of $118.94 million during the quarter, compared to the consensus estimate of $117.44 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. As a group, equities analysts predict that Power Integrations, Inc. will post 0.77 earnings per share for the current fiscal year.

About Power Integrations

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.