28,739 Shares in Power Integrations, Inc. $POWI Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund purchased a new stake in Power Integrations, Inc. (NASDAQ:POWI) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,739 shares of the semiconductor company’s stock, valued at approximately $1,471,000.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its position in Power Integrations by 576.3% during the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 536 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Power Integrations in the fourth quarter valued at about $36,000. UMB Bank n.a. raised its position in shares of Power Integrations by 61.7% in the fourth quarter. UMB Bank n.a. now owns 1,074 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 410 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Power Integrations during the 4th quarter worth about $48,000. Finally, Osaic Holdings Inc. lifted its stake in shares of Power Integrations by 76.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,721 shares of the semiconductor company’s stock worth $92,000 after buying an additional 744 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on POWI. Weiss Ratings reiterated a “sell (d+)” rating on shares of Power Integrations in a research note on Friday, May 8th. Benchmark raised their price objective on shares of Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Needham & Company LLC assumed coverage on Power Integrations in a report on Wednesday, June 10th. They set a “buy” rating and a $90.00 price objective for the company. Stifel Nicolaus upped their target price on Power Integrations from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Finally, Northland Securities lowered Power Integrations from an “outperform” rating to a “market perform” rating and set a $46.00 target price on the stock. in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $76.20.

Power Integrations Stock Performance

Shares of Power Integrations stock opened at $74.39 on Wednesday. The firm has a 50-day moving average of $76.76 and a 200-day moving average of $60.11. Power Integrations, Inc. has a 52-week low of $30.86 and a 52-week high of $91.18. The stock has a market cap of $4.15 billion, a PE ratio of 247.97, a PEG ratio of 3.65 and a beta of 1.57.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Power Integrations had a net margin of 3.72% and a return on equity of 5.34%. The business had revenue of $108.31 million for the quarter, compared to analyst estimates of $106.75 million. During the same period last year, the firm earned $0.31 earnings per share. Power Integrations’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts predict that Power Integrations, Inc. will post 0.76 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were issued a dividend of $0.215 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.86 annualized dividend and a dividend yield of 1.2%. Power Integrations’s dividend payout ratio (DPR) is currently 286.67%.

Insider Transactions at Power Integrations

In other news, Director Balu Balakrishnan sold 124,287 shares of Power Integrations stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $86.44, for a total value of $10,743,368.28. Following the completion of the sale, the director directly owned 279,516 shares in the company, valued at approximately $24,161,363.04. The trade was a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas Brathwaite sold 6,895 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $72.41, for a total value of $499,266.95. Following the completion of the sale, the director owned 30,609 shares of the company’s stock, valued at approximately $2,216,397.69. This trade represents a 18.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 334,772 shares of company stock valued at $27,322,535. 1.20% of the stock is currently owned by company insiders.

Power Integrations Company Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.