Power Integrations, Inc. $POWI Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. trimmed its position in Power Integrations, Inc. (NASDAQ:POWI) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,613 shares of the semiconductor company’s stock after selling 2,033 shares during the quarter. Shell Asset Management Co.’s holdings in Power Integrations were worth $3,109,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in Power Integrations by 257.8% in the 1st quarter. Allworth Financial LP now owns 594 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 428 shares during the last quarter. Bayforest Capital Ltd boosted its holdings in Power Integrations by 54.3% in the 1st quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 222 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Power Integrations by 576.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 536 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Power Integrations by 364.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 622 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 488 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Power Integrations by 841.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 781 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 698 shares during the last quarter.

Analyst Upgrades and Downgrades

POWI has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Power Integrations in a report on Saturday, September 27th. Wall Street Zen lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Susquehanna decreased their price objective on shares of Power Integrations from $70.00 to $55.00 and set a “positive” rating on the stock in a report on Thursday, August 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of Power Integrations in a research note on Tuesday, September 23rd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.67.

Power Integrations Stock Down 3.4%

Shares of POWI opened at $37.71 on Wednesday. Power Integrations, Inc. has a fifty-two week low of $37.60 and a fifty-two week high of $69.53. The firm’s 50 day moving average price is $44.40 and its 200 day moving average price is $49.53. The company has a market cap of $2.12 billion, a P/E ratio of 65.02, a PEG ratio of 2.55 and a beta of 1.37.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Wednesday, August 6th. The semiconductor company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The company had revenue of $115.85 million for the quarter, compared to the consensus estimate of $115.02 million. During the same period in the prior year, the firm posted $0.28 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Research analysts forecast that Power Integrations, Inc. will post 0.93 earnings per share for the current year.

Power Integrations Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, August 29th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 29th. Power Integrations’s dividend payout ratio (DPR) is 144.83%.

Insiders Place Their Bets

In related news, VP Doug Bailey sold 16,989 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $46.41, for a total transaction of $788,459.49. Following the completion of the sale, the vice president owned 50,798 shares in the company, valued at $2,357,535.18. This represents a 25.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gagan Jain sold 2,036 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $46.05, for a total transaction of $93,757.80. Following the sale, the vice president owned 18,812 shares of the company’s stock, valued at approximately $866,292.60. This represents a 9.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,470 shares of company stock worth $1,697,214 over the last ninety days. Insiders own 1.40% of the company’s stock.

Power Integrations 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.