Legacy Wealth Asset Management LLC Sells 1,764 Shares of Power Integrations, Inc. $POWI

Legacy Wealth Asset Management LLC decreased its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 25.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,230 shares of the semiconductor company’s stock after selling 1,764 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Power Integrations were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in shares of Power Integrations during the first quarter worth approximately $1,452,000. Foresight Group Ltd Liability Partnership acquired a new stake in shares of Power Integrations during the first quarter worth approximately $11,271,000. SG Americas Securities LLC acquired a new stake in shares of Power Integrations during the first quarter worth approximately $344,000. WCM Investment Management LLC increased its holdings in shares of Power Integrations by 5.9% during the second quarter. WCM Investment Management LLC now owns 260,629 shares of the semiconductor company’s stock worth $14,530,000 after buying an additional 14,441 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Power Integrations by 243.2% during the first quarter. GAMMA Investing LLC now owns 2,011 shares of the semiconductor company’s stock worth $102,000 after buying an additional 1,425 shares in the last quarter.

Insider Buying and Selling

In other Power Integrations news, VP Doug Bailey sold 16,989 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $46.41, for a total value of $788,459.49. Following the transaction, the vice president directly owned 50,798 shares of the company’s stock, valued at approximately $2,357,535.18. This trade represents a 25.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gagan Jain sold 2,036 shares of the firm’s 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 in the company, valued at approximately $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 ninety days, insiders sold 36,470 shares of company stock worth $1,697,214. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Power Integrations Price Performance

Shares of Power Integrations stock opened at $44.69 on Wednesday. The firm has a market cap of $2.51 billion, a P/E ratio of 77.05, a P/E/G ratio of 2.96 and a beta of 1.37. The firm has a 50 day simple moving average of $43.67 and a 200 day simple moving average of $48.95. Power Integrations, Inc. has a fifty-two week low of $34.55 and a fifty-two week high of $69.53.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share (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 firm had revenue of $115.85 million for the quarter, compared to analysts’ expectations of $115.02 million. During the same period last year, the firm earned $0.28 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, sell-side 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. Shareholders 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 yield of 1.9%. Power Integrations’s dividend payout ratio (DPR) is presently 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.