Holocene Advisors LP Raises Position in Power Integrations, Inc. (NASDAQ:POWI)

Holocene Advisors LP increased its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 67.9% during the third quarter, Holdings Channel reports. The institutional investor owned 67,368 shares of the semiconductor company’s stock after acquiring an additional 27,255 shares during the period. Holocene Advisors LP’s holdings in Power Integrations were worth $4,320,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in POWI. GAMMA Investing LLC boosted its holdings in Power Integrations by 69.8% during the second quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock worth $26,000 after buying an additional 150 shares in the last quarter. Mather Group LLC. boosted its holdings in Power Integrations by 22.8% during the second quarter. Mather Group LLC. now owns 868 shares of the semiconductor company’s stock worth $62,000 after buying an additional 161 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Power Integrations during the second quarter worth about $63,000. Truvestments Capital LLC purchased a new stake in Power Integrations during the third quarter worth about $87,000. Finally, Quest Partners LLC boosted its holdings in Power Integrations by 23.5% during the second quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company’s stock worth $88,000 after buying an additional 240 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently commented on POWI shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Susquehanna cut their target price on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a research report on Thursday, November 7th. TD Cowen cut their target price on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Benchmark restated a “buy” rating and set a $78.00 target price on shares of Power Integrations in a research report on Friday, November 8th. Finally, Northland Capmk upgraded shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Power Integrations Price Performance

NASDAQ:POWI opened at $63.89 on Thursday. The firm has a 50 day simple moving average of $63.63 and a 200-day simple moving average of $67.03. The firm has a market cap of $3.63 billion, a PE ratio of 96.80, a P/E/G ratio of 7.27 and a beta of 1.12. Power Integrations, Inc. has a 1-year low of $56.63 and a 1-year high of $89.68.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. The firm had revenue of $115.84 million during the quarter, compared to analyst estimates of $114.83 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. Power Integrations’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that Power Integrations, Inc. will post 0.54 earnings per share for the current fiscal year.

Power Integrations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.21 per share. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 annualized dividend and a yield of 1.31%. Power Integrations’s dividend payout ratio is 127.27%.

Insider Buying and Selling

In other Power Integrations news, VP Doug Bailey sold 8,549 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $64.96, for a total transaction of $555,343.04. Following the completion of the sale, the vice president now directly owns 86,375 shares in the company, valued at $5,610,920. The trade was a 9.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Clifford Walker sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $64.36, for a total transaction of $643,600.00. Following the sale, the vice president now owns 130,934 shares of the company’s stock, valued at approximately $8,426,912.24. This represents a 7.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,655 shares of company stock valued at $1,205,566. Insiders own 1.70% of the company’s stock.

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.