Geode Capital Management LLC Acquires 63,150 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Geode Capital Management LLC raised its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,575,437 shares of the semiconductor company’s stock after buying an additional 63,150 shares during the quarter. Geode Capital Management LLC owned about 2.77% of Power Integrations worth $101,033,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in POWI. Disciplined Growth Investors Inc. MN boosted its holdings in Power Integrations by 4.0% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,111,663 shares of the semiconductor company’s stock valued at $135,400,000 after acquiring an additional 80,761 shares in the last quarter. Barclays PLC lifted its position in shares of Power Integrations by 173.4% in the 3rd quarter. Barclays PLC now owns 180,754 shares of the semiconductor company’s stock worth $11,591,000 after purchasing an additional 114,644 shares during the period. MML Investors Services LLC boosted its stake in shares of Power Integrations by 3.4% during the 3rd quarter. MML Investors Services LLC now owns 6,231 shares of the semiconductor company’s stock valued at $400,000 after purchasing an additional 207 shares in the last quarter. First National Bank of Omaha increased its position in shares of Power Integrations by 1.3% during the third quarter. First National Bank of Omaha now owns 40,454 shares of the semiconductor company’s stock valued at $2,594,000 after buying an additional 526 shares during the period. Finally, Pier Capital LLC raised its stake in Power Integrations by 1.9% in the third quarter. Pier Capital LLC now owns 112,474 shares of the semiconductor company’s stock worth $7,212,000 after buying an additional 2,139 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on POWI. StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Benchmark restated a “buy” rating and set a $78.00 price target on shares of Power Integrations in a research report on Friday, November 8th. Finally, Susquehanna decreased their price objective on Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Power Integrations has a consensus rating of “Moderate Buy” and an average target price of $78.00.

Insider Activity at Power Integrations

In other Power Integrations news, VP Doug Bailey sold 8,549 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $64.96, for a total value of $555,343.04. Following the completion of the transaction, the vice president now owns 86,375 shares of the company’s stock, valued at approximately $5,610,920. The trade was a 9.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Clifford Walker sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $64.36, for a total transaction of $643,600.00. Following the sale, the vice president now directly owns 130,934 shares in the company, valued at approximately $8,426,912.24. The trade was a 7.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,655 shares of company stock valued at $1,205,566. 1.70% of the stock is owned by corporate insiders.

Power Integrations Stock Down 4.1 %

Power Integrations stock opened at $62.42 on Thursday. Power Integrations, Inc. has a twelve month low of $56.63 and a twelve month high of $87.02. The stock’s 50 day moving average is $63.94 and its 200 day moving average is $66.20. The company has a market capitalization of $3.55 billion, a P/E ratio of 94.58, a PEG ratio of 7.01 and a beta of 1.12.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $115.84 million for the quarter, compared to the consensus estimate of $114.83 million. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. Power Integrations’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 EPS. As a group, equities analysts expect that Power Integrations, Inc. will post 0.54 EPS for the current year.

Power Integrations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.21 dividend. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, November 29th. Power Integrations’s payout ratio is presently 127.27%.

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.