Caitong International Asset Management Co. Ltd Acquires 698 Shares of Power Integrations, Inc. $POWI

Caitong International Asset Management Co. Ltd lifted its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 841.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 781 shares of the semiconductor company’s stock after purchasing an additional 698 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Power Integrations were worth $39,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Capital International Investors increased its stake in shares of Power Integrations by 5.8% in the fourth quarter. Capital International Investors now owns 1,503,132 shares of the semiconductor company’s stock worth $92,743,000 after purchasing an additional 82,681 shares during the period. Invesco Ltd. increased its stake in shares of Power Integrations by 1,345.8% in the first quarter. Invesco Ltd. now owns 1,314,208 shares of the semiconductor company’s stock worth $66,367,000 after purchasing an additional 1,223,310 shares during the period. Northern Trust Corp increased its stake in shares of Power Integrations by 9.1% in the fourth quarter. Northern Trust Corp now owns 996,040 shares of the semiconductor company’s stock worth $61,456,000 after purchasing an additional 83,186 shares during the period. Snyder Capital Management L P increased its stake in shares of Power Integrations by 22.3% in the fourth quarter. Snyder Capital Management L P now owns 882,518 shares of the semiconductor company’s stock worth $54,451,000 after purchasing an additional 160,784 shares during the period. Finally, Stephens Investment Management Group LLC increased its stake in Power Integrations by 30.5% during the first quarter. Stephens Investment Management Group LLC now owns 738,976 shares of the semiconductor company’s stock valued at $37,318,000 after acquiring an additional 172,530 shares during the period.

Insider Buying and Selling at Power Integrations

In other news, VP Gagan Jain sold 2,036 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $46.05, for a total value of $93,757.80. Following the sale, the vice president directly owned 18,812 shares in the company, valued at approximately $866,292.60. This represents a 9.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on POWI shares. Benchmark lowered their price target on 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 lowered Power Integrations from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Stifel Nicolaus boosted their price target on Power Integrations from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Finally, Susquehanna lowered their price target on Power Integrations from $70.00 to $55.00 and set a “positive” rating on the stock in a research note on Thursday, August 7th.

Power Integrations Trading Down 2.0%

POWI stock opened at $46.30 on Monday. Power Integrations, Inc. has a 1-year low of $39.53 and a 1-year high of $69.53. The firm has a market cap of $2.60 billion, a P/E ratio of 79.83, a P/E/G ratio of 3.62 and a beta of 1.31. The business’s 50 day moving average is $53.41 and its 200-day moving average is $53.72.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data 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. Power Integrations had a return on equity of 5.86% and a net margin of 7.59%. The company had revenue of $115.85 million for the quarter, compared to analyst estimates of $115.02 million. During the same period in the prior year, the company posted $0.28 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts forecast that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, August 29th. Power Integrations’s dividend payout ratio is currently 144.83%.

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.