11,711 Power Integrations, Inc. $POWI Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 55.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,387 shares of the semiconductor company’s stock after selling 11,711 shares during the period. State of Alaska Department of Revenue’s holdings in Power Integrations were worth $486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of POWI. GAMMA Investing LLC increased its position in Power Integrations by 38.8% in the third quarter. GAMMA Investing LLC now owns 2,616 shares of the semiconductor company’s stock worth $136,000 after purchasing an additional 731 shares during the last quarter. Cim Investment Management Inc. raised its stake in Power Integrations by 7.4% during the second quarter. Cim Investment Management Inc. now owns 5,168 shares of the semiconductor company’s stock valued at $433,000 after purchasing an additional 357 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Power Integrations during the second quarter valued at $204,000. Tidal Investments LLC lifted its position in Power Integrations by 33.6% during the second quarter. Tidal Investments LLC now owns 14,258 shares of the semiconductor company’s stock valued at $1,194,000 after purchasing an additional 3,582 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in Power Integrations during the second quarter valued at $815,000.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Zacks Research cut shares of Power Integrations from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Susquehanna decreased their target price on shares of Power Integrations from $85.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday. Wall Street Zen raised shares of Power Integrations from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Needham & Company LLC dropped their price target on Power Integrations from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded Power Integrations from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Power Integrations has an average rating of “Moderate Buy” and a consensus target price of $68.83.

Power Integrations Stock Performance

NASDAQ POWI opened at $46.98 on Friday. The business’s 50 day moving average price is $50.84 and its 200-day moving average price is $63.82. Power Integrations, Inc. has a fifty-two week low of $30.86 and a fifty-two week high of $91.18. The company has a market cap of $2.62 billion, a P/E ratio of 104.40 and a beta of 1.54.

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

Power Integrations Company Profile

Power Integrations, Inc designs and manufactures high-performance semiconductor technologies used in energy-efficient power conversion. Its products help convert and control electrical power in applications such as consumer electronics, appliances, industrial equipment, communications infrastructure, renewable-energy systems, and electric vehicles.

The company’s product portfolio includes integrated circuits for AC-to-DC and DC-to-DC power supplies, LED lighting drivers, power-factor correction, motor drives, and high-voltage gate driving.