Employees Retirement System of Texas Sells 7,000 Shares of Power Integrations, Inc. (POWI)

Employees Retirement System of Texas lowered its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 18.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,000 shares of the semiconductor company’s stock after selling 7,000 shares during the period. Employees Retirement System of Texas owned 0.10% of Power Integrations worth $2,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Voya Investment Management LLC increased its stake in shares of Power Integrations by 6.2% during the second quarter. Voya Investment Management LLC now owns 381,719 shares of the semiconductor company’s stock worth $27,828,000 after purchasing an additional 22,173 shares during the period. Renaissance Technologies LLC increased its stake in shares of Power Integrations by 16.2% during the second quarter. Renaissance Technologies LLC now owns 425,400 shares of the semiconductor company’s stock worth $31,012,000 after purchasing an additional 59,200 shares during the period. EAM Investors LLC bought a new position in shares of Power Integrations during the second quarter worth approximately $2,735,000. Parametric Portfolio Associates LLC increased its stake in shares of Power Integrations by 3.3% during the second quarter. Parametric Portfolio Associates LLC now owns 64,356 shares of the semiconductor company’s stock worth $4,692,000 after purchasing an additional 2,048 shares during the period. Finally, Advisor Group Inc. increased its stake in shares of Power Integrations by 14.5% during the second quarter. Advisor Group Inc. now owns 1,827 shares of the semiconductor company’s stock worth $132,000 after purchasing an additional 231 shares during the period. Institutional investors own 95.38% of the company’s stock.

Power Integrations, Inc. (NASDAQ:POWI) opened at 72.70 on Wednesday. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 40.41 and a beta of 1.28. Power Integrations, Inc. has a 1-year low of $60.67 and a 1-year high of $82.80. The firm’s 50-day moving average price is $72.25 and its 200-day moving average price is $69.61.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Power Integrations had a return on equity of 12.08% and a net margin of 13.37%. The business had revenue of $107.56 million for the quarter, compared to the consensus estimate of $107.85 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. Power Integrations’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts forecast that Power Integrations, Inc. will post $2.77 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, August 31st were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.56 dividend on an annualized basis and a yield of 0.77%. Power Integrations’s payout ratio is 29.95%.

In other Power Integrations news, VP David Mh Matthews sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $71.22, for a total transaction of $71,220.00. Following the sale, the vice president now owns 43,405 shares of the company’s stock, valued at approximately $3,091,304.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Balu Balakrishnan sold 65,000 shares of the business’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $78.06, for a total transaction of $5,073,900.00. Following the sale, the insider now directly owns 319,576 shares in the company, valued at approximately $24,946,102.56. The disclosure for this sale can be found here. Insiders have sold a total of 72,593 shares of company stock worth $5,644,357 in the last three months. Insiders own 4.30% of the company’s stock.

A number of brokerages have recently weighed in on POWI. Stifel Nicolaus reiterated a “buy” rating and set a $85.00 target price on shares of Power Integrations in a research note on Wednesday, October 4th. Zacks Investment Research upgraded Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. BidaskClub lowered Power Integrations from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Drexel Hamilton set a $84.00 target price on Power Integrations and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, Deutsche Bank AG lowered Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research note on Tuesday, July 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $81.33.

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About Power Integrations

Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.

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Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

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