Guinness Atkinson Asset Management Inc Purchases 582 Shares of Power Integrations, Inc. (NASDAQ:POWI)

by · The Markets Daily

Guinness Atkinson Asset Management Inc raised its position in Power Integrations, Inc. (NASDAQ:POWI – Free Report) by 15.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,290 shares of the semiconductor company’s stock after purchasing an additional 582 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Power Integrations were worth $275,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of POWI. GAMMA Investing LLC lifted its holdings in Power Integrations by 69.8% during the second quarter. GAMMA Investing LLC now owns 365 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 150 shares during the period. Mather Group LLC. bought a new stake in shares of Power Integrations during the 1st quarter worth $51,000. Fidelis Capital Partners LLC purchased a new position in shares of Power Integrations in the 1st quarter worth about $55,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Power Integrations during the second quarter valued at about $63,000. Finally, Quest Partners LLC grew its position in Power Integrations by 23.5% during the second quarter. Quest Partners LLC now owns 1,260 shares of the semiconductor company’s stock valued at $88,000 after buying an additional 240 shares during the period.

Insiders Place Their Bets

In other Power Integrations news, VP Sunil Gupta sold 2,127 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $65.90, for a total value of $140,169.30. Following the transaction, the vice president now directly owns 51,899 shares in the company, valued at $3,420,144.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Power Integrations Price Performance

Shares of Power Integrations stock traded up $1.39 during trading hours on Friday, reaching $63.78. The company had a trading volume of 214,672 shares, compared to its average volume of 412,021. The firm has a market cap of $3.62 billion, a PE ratio of 85.04, a price-to-earnings-growth ratio of 5.08 and a beta of 1.10. Power Integrations, Inc. has a one year low of $56.63 and a one year high of $89.68. The business has a fifty day simple moving average of $62.40 and a 200 day simple moving average of $68.66.

Power Integrations (NASDAQ:POWI – Get Free Report) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $106.20 million during the quarter, compared to the consensus estimate of $105.02 million. Power Integrations had a return on equity of 4.86% and a net margin of 10.38%. During the same quarter last year, the company earned $0.27 EPS. The firm’s revenue was down 13.8% compared to the same quarter last year. On average, research analysts forecast that Power Integrations, Inc. will post 0.59 EPS for the current year.

Power Integrations Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 30th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Friday, August 30th. Power Integrations’s dividend payout ratio (DPR) is presently 106.67%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Power Integrations from a “hold” rating to a “sell” rating in a research note on Wednesday. Susquehanna reduced their price objective on Power Integrations from $95.00 to $80.00 and set a “positive” rating for the company in a report on Thursday, August 8th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 target price (down from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Northland Capmk raised Power Integrations from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Benchmark reissued a “buy” rating and issued a $78.00 price objective on shares of Power Integrations in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Power Integrations presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

Check Out Our Latest Analysis on POWI

Power Integrations Profile

(Free Report)

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.

Further Reading

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