Power Integrations, Inc. (POWI) Shares Sold by Wasatch Advisors Inc.

Wasatch Advisors Inc. cut its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 80.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,289 shares of the semiconductor company’s stock after selling 156,312 shares during the quarter. Wasatch Advisors Inc. owned 0.13% of Power Integrations worth $2,791,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Municipal Employees Retirement System of Michigan lifted its position in Power Integrations by 2.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 7,800 shares of the semiconductor company’s stock worth $513,000 after buying an additional 150 shares during the last quarter. SG Americas Securities LLC lifted its position in Power Integrations by 181.1% in the first quarter. SG Americas Securities LLC now owns 6,662 shares of the semiconductor company’s stock worth $438,000 after buying an additional 4,292 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Power Integrations by 15.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 142,197 shares of the semiconductor company’s stock worth $9,350,000 after buying an additional 18,538 shares during the last quarter. Legal & General Group Plc lifted its position in Power Integrations by 9.4% in the second quarter. Legal & General Group Plc now owns 57,673 shares of the semiconductor company’s stock worth $4,204,000 after buying an additional 4,970 shares during the last quarter. Finally, Renaissance Group LLC lifted its position in Power Integrations by 1.1% in the second 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. 95.01% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on POWI. Deutsche Bank AG downgraded Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research report on Tuesday, July 25th. BidaskClub upgraded Power Integrations from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Drexel Hamilton set a $84.00 target price on Power Integrations and gave the stock a “buy” rating in a research report on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and set a $82.00 target price (up from $75.00) on shares of Power Integrations in a research report on Friday, June 30th. Finally, Zacks Investment Research upgraded Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $81.33.

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Shares of Power Integrations, Inc. (NASDAQ:POWI) traded up 10.53% during trading on Friday, hitting $84.00. The stock had a trading volume of 279,944 shares. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 46.69 and a beta of 1.28. Power Integrations, Inc. has a 12 month low of $61.17 and a 12 month high of $86.60. The company’s 50 day moving average price is $72.91 and its 200 day moving average price is $70.28.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, October 26th. The semiconductor company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.05. The company had revenue of $111.30 million during the quarter, compared to analyst estimates of $111.82 million. Power Integrations had a return on equity of 12.08% and a net margin of 13.37%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 earnings per share. Equities research analysts expect that Power Integrations, Inc. will post $2.77 earnings per share for the current fiscal year.

In related news, VP Raja Petrakian sold 2,272 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $68.89, for a total value of $156,518.08. Following the completion of the transaction, the vice president now directly owns 30,815 shares of the company’s stock, valued at approximately $2,122,845.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Mh Matthews sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $71.22, for a total value of $71,220.00. Following the completion of the transaction, the vice president now directly owns 43,405 shares of the company’s stock, valued at $3,091,304.10. The disclosure for this sale can be found here. Insiders have sold 3,593 shares of company stock valued at $250,457 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Power Integrations Profile

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.

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

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