Power Integrations, Inc. $POWI Stock Position Trimmed by Congress Asset Management Co.

Congress Asset Management Co. lessened its stake in Power Integrations, Inc. (NASDAQ:POWI) by 1.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 914,069 shares of the semiconductor company’s stock after selling 15,990 shares during the quarter. Congress Asset Management Co.’s holdings in Power Integrations were worth $47,349,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Power Integrations during the 2nd quarter valued at $730,559,000. Wellington Management Group LLP grew its position in Power Integrations by 7.1% in the second quarter. Wellington Management Group LLP now owns 3,595,855 shares of the semiconductor company’s stock worth $301,189,000 after acquiring an additional 239,702 shares in the last quarter. William Blair Investment Management LLC bought a new position in Power Integrations in the second quarter valued at $199,517,000. Copeland Capital Management LLC increased its stake in Power Integrations by 12.6% in the first 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. Finally, Dimensional Fund Advisors LP raised its position in Power Integrations by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,057,155 shares of the semiconductor company’s stock valued at $54,114,000 after purchasing an additional 71,928 shares in the last quarter.

Power Integrations Trading Down 1.8%

POWI stock traded down $0.96 during midday trading on Tuesday, hitting $53.40. The company had a trading volume of 506,611 shares, compared to its average volume of 964,362. Power Integrations, Inc. has a 52 week low of $30.86 and a 52 week high of $91.18. The stock’s 50 day moving average price is $54.74 and its 200 day moving average price is $64.12. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 118.67 and a beta of 1.54.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus cut their price objective on Power Integrations from $80.00 to $72.00 and set a “buy” rating for the company in a report on Monday. Weiss Ratings raised Power Integrations from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Williams Trading set a $80.00 target price on Power Integrations in a research note on Thursday, August 6th. Needham & Company LLC decreased their price target 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. Finally, Wall Street Zen upgraded shares of Power Integrations from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.33.

Power Integrations Company Profile

Power Integrations, Inc is a semiconductor company that designs and manufactures high-performance power-conversion technologies. Its products are used to convert and manage electrical power in applications such as consumer electronics, appliances, industrial equipment, communications systems, renewable-energy installations and automotive systems.

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