Ameriprise Financial Inc. Trims Stake in Power Integrations Inc (POWI)

Ameriprise Financial Inc. cut its holdings in Power Integrations Inc (NASDAQ:POWI) by 8.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 195,608 shares of the semiconductor company’s stock after selling 18,491 shares during the period. Ameriprise Financial Inc. owned about 0.66% of Power Integrations worth $14,319,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Jennison Associates LLC increased its holdings in shares of Power Integrations by 0.4% in the 2nd quarter. Jennison Associates LLC now owns 5,424 shares of the semiconductor company’s stock worth $395,000 after buying an additional 23 shares during the last quarter. Renaissance Group LLC increased its holdings in shares of Power Integrations by 1.1% in the 2nd quarter. Renaissance Group LLC now owns 5,278 shares of the semiconductor company’s stock worth $385,000 after buying an additional 56 shares during the last quarter. Pinebridge Investments L.P. increased its holdings in shares of Power Integrations by 2.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,912 shares of the semiconductor company’s stock worth $285,000 after buying an additional 75 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Power Integrations by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 15,474 shares of the semiconductor company’s stock worth $1,128,000 after buying an additional 100 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Power Integrations by 0.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,322 shares of the semiconductor company’s stock worth $1,554,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 97.51% of the company’s stock.

A number of analysts have recently weighed in on POWI shares. Drexel Hamilton restated a “buy” rating and issued a $84.00 target price on shares of Power Integrations in a report on Friday, October 27th. Stifel Nicolaus restated a “buy” rating and issued a $85.00 target price on shares of Power Integrations in a report on Sunday, September 3rd. Zacks Investment Research raised shares of Power Integrations from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Wednesday, November 1st. BidaskClub cut shares of Power Integrations from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Finally, Susquehanna Bancshares assumed coverage on shares of Power Integrations in a research note on Wednesday. They set a “neutral” rating and a $80.00 price target for the company. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $82.80.

Power Integrations Inc (NASDAQ:POWI) opened at $74.40 on Friday. Power Integrations Inc has a 52 week low of $61.44 and a 52 week high of $86.60. The company has a market cap of $2,158.93, a PE ratio of 34.60 and a beta of 1.26.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Power Integrations had a net margin of 13.69% and a return on equity of 11.95%. The firm had revenue of $111.30 million during the quarter, compared to analysts’ expectations of $111.82 million. During the same period in the previous year, the company earned $0.67 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. analysts predict that Power Integrations Inc will post 2.06 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.75%. Power Integrations’s dividend payout ratio is presently 29.02%.

In other Power Integrations news, Director Steven Sharp sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.49, for a total value of $794,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Mh Matthews sold 704 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $78.33, for a total transaction of $55,144.32. Following the completion of the sale, the vice president now directly owns 42,654 shares of the company’s stock, valued at $3,341,087.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,089 shares of company stock valued at $5,077,253. 4.30% of the stock is owned by corporate insiders.

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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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