Envestnet Portfolio Solutions Inc. Grows Stock Holdings in Power Integrations, Inc. $POWI

Envestnet Portfolio Solutions Inc. boosted its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 136.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,309 shares of the semiconductor company’s stock after purchasing an additional 9,410 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Power Integrations were worth $912,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its stake in Power Integrations by 1,345.8% during the 1st quarter. Invesco Ltd. now owns 1,314,208 shares of the semiconductor company’s stock valued at $66,367,000 after buying an additional 1,223,310 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Power Integrations by 7.9% in the first quarter. Northern Trust Corp now owns 1,075,076 shares of the semiconductor company’s stock worth $54,291,000 after acquiring an additional 79,036 shares during the period. Stephens Investment Management Group LLC increased its position 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 last quarter. American Century Companies Inc. bought a new position in Power Integrations in the first quarter valued at about $36,919,000. Finally, Federated Hermes Inc. boosted its position in Power Integrations by 0.4% in the first quarter. Federated Hermes Inc. now owns 714,013 shares of the semiconductor company’s stock worth $36,058,000 after purchasing an additional 2,996 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $55.00 price objective on shares of Power Integrations in a research note on Tuesday, September 23rd. Susquehanna decreased their price target on shares of Power Integrations from $70.00 to $55.00 and set a “positive” rating on the stock in a research report on Thursday, August 7th. Wall Street Zen cut shares of Power Integrations from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Power Integrations in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.67.

Insider Activity

In other Power Integrations news, VP Doug Bailey sold 16,989 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $46.41, for a total value of $788,459.49. Following the completion of the transaction, the vice president directly owned 50,798 shares in the company, valued at $2,357,535.18. This represents a 25.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, the vice president directly owned 18,812 shares of the company’s stock, valued at approximately $866,292.60. This trade represents a 9.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,470 shares of company stock valued at $1,697,214 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Power Integrations Price Performance

Shares of NASDAQ POWI opened at $45.48 on Monday. The firm has a fifty day moving average price of $43.67 and a 200-day moving average price of $48.97. The stock has a market cap of $2.55 billion, a PE ratio of 78.42, a price-to-earnings-growth ratio of 2.97 and a beta of 1.37. Power Integrations, Inc. has a 1 year low of $34.55 and a 1 year high of $69.53.

Power Integrations (NASDAQ:POWI) last released its earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $115.85 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 EPS. On average, research analysts expect that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.8%. Power Integrations’s dividend payout ratio is 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.