Retirement Systems of Alabama Cuts Holdings in Power Integrations, Inc. (NASDAQ:POWI)

Retirement Systems of Alabama cut its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 1.1% during the third quarter, Holdings Channel reports. The institutional investor owned 88,734 shares of the semiconductor company’s stock after selling 1,027 shares during the quarter. Retirement Systems of Alabama’s holdings in Power Integrations were worth $5,690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of POWI. State Street Corp boosted its position in shares of Power Integrations by 1.1% during the 3rd quarter. State Street Corp now owns 2,540,328 shares of the semiconductor company’s stock worth $162,886,000 after purchasing an additional 27,488 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Power Integrations by 25.6% during the third quarter. Wellington Management Group LLP now owns 2,340,328 shares of the semiconductor company’s stock worth $150,062,000 after buying an additional 476,986 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Power Integrations by 4.0% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,111,663 shares of the semiconductor company’s stock worth $135,400,000 after buying an additional 80,761 shares in the last quarter. Geode Capital Management LLC grew its position in Power Integrations by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,575,437 shares of the semiconductor company’s stock worth $101,033,000 after buying an additional 63,150 shares during the period. Finally, Copeland Capital Management LLC increased its holdings in Power Integrations by 21.5% in the third quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company’s stock valued at $77,401,000 after buying an additional 213,392 shares in the last quarter.

Power Integrations Stock Performance

Power Integrations stock opened at $62.42 on Thursday. Power Integrations, Inc. has a fifty-two week low of $56.63 and a fifty-two week high of $87.02. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 94.58, a PEG ratio of 7.01 and a beta of 1.12. The stock has a fifty day moving average of $63.94 and a two-hundred day moving average of $66.20.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. The firm had revenue of $115.84 million during the quarter, compared to the consensus estimate of $114.83 million. During the same quarter in the previous year, the company posted $0.35 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts forecast that Power Integrations, Inc. will post 0.54 EPS for the current fiscal 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 paid a dividend of $0.21 per share. This is an increase from Power Integrations’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 annualized dividend and a dividend yield of 1.35%. Power Integrations’s dividend payout ratio is presently 127.27%.

Insiders Place Their Bets

In other news, VP Clifford Walker sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $64.36, for a total transaction of $643,600.00. Following the sale, the vice president now owns 130,934 shares in the company, valued at $8,426,912.24. This trade represents a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Doug Bailey sold 8,549 shares of the company’s stock in a transaction on Monday, November 11th. The shares were 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 $5,610,920. The trade was a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,655 shares of company stock valued at $1,205,566. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

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

Power Integrations Company 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.