American Century Companies Inc. Invests $36.92 Million in Power Integrations, Inc. $POWI

American Century Companies Inc. purchased a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 731,065 shares of the semiconductor company’s stock, valued at approximately $36,919,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP increased its holdings in Power Integrations by 257.8% during 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 period. Bayforest Capital Ltd grew its position in shares of Power Integrations by 54.3% during the 1st quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company’s stock worth $32,000 after buying an additional 222 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Power Integrations by 841.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 781 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 698 shares during the period. Global X Japan Co. Ltd. purchased a new position in shares of Power Integrations during the first quarter valued at $42,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Power Integrations in the fourth quarter valued at about $51,000.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of Power Integrations from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Benchmark dropped their price objective on shares of Power Integrations from $70.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. Wall Street Zen downgraded shares of Power Integrations from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Susquehanna lowered their target price on Power Integrations from $70.00 to $55.00 and set a “positive” rating for the company in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $61.67.

Insider Transactions at Power Integrations

In other news, VP Doug Bailey sold 16,989 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $46.41, for a total transaction of $788,459.49. Following the transaction, the vice president owned 50,798 shares in the company, valued at $2,357,535.18. This represents a 25.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction of $93,757.80. Following the completion of the transaction, the vice president directly owned 18,812 shares of the company’s stock, valued at $866,292.60. The trade was a 9.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,014 shares of company stock valued at $1,678,322. 1.40% of the stock is currently owned by company insiders.

Power Integrations Stock Down 2.0%

NASDAQ POWI opened at $45.60 on Thursday. Power Integrations, Inc. has a 52 week low of $39.53 and a 52 week high of $69.53. The company has a 50 day moving average price of $52.72 and a 200 day moving average price of $53.51. The firm has a market cap of $2.56 billion, a PE ratio of 78.62, a price-to-earnings-growth ratio of 3.04 and a beta of 1.31.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share for the quarter, beating 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 net margin of 7.59% and a return on equity of 5.86%. Power Integrations’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $0.28 earnings per share. On average, equities research analysts anticipate that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

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 given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, August 29th. Power Integrations’s dividend payout ratio is currently 144.83%.

Power Integrations Company Profile

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.