Amalgamated Bank Sells 1,595 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Amalgamated Bank reduced its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,985 shares of the semiconductor company’s stock after selling 1,595 shares during the quarter. Amalgamated Bank’s holdings in Power Integrations were worth $1,666,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. QRG Capital Management Inc. increased its stake in Power Integrations by 9.5% during the third quarter. QRG Capital Management Inc. now owns 3,530 shares of the semiconductor company’s stock worth $226,000 after acquiring an additional 305 shares during the last quarter. Van ECK Associates Corp increased its stake in Power Integrations by 55.6% during the third quarter. Van ECK Associates Corp now owns 34,431 shares of the semiconductor company’s stock worth $2,138,000 after acquiring an additional 12,297 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Power Integrations by 166.5% during the third quarter. Harbor Capital Advisors Inc. now owns 28,293 shares of the semiconductor company’s stock worth $1,814,000 after acquiring an additional 17,677 shares during the last quarter. Stephens Inc. AR grew its stake in shares of Power Integrations by 5.8% during the third quarter. Stephens Inc. AR now owns 4,639 shares of the semiconductor company’s stock valued at $297,000 after buying an additional 255 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its stake in shares of Power Integrations by 2.6% during the third quarter. Stephens Investment Management Group LLC now owns 567,477 shares of the semiconductor company’s stock valued at $36,387,000 after buying an additional 14,306 shares during the last quarter.

Insider Activity

In other news, VP Sunil Gupta sold 2,127 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $65.90, for a total transaction of $140,169.30. Following the completion of the sale, the vice president now owns 51,899 shares in the company, valued at approximately $3,420,144.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 2,398 shares of company stock worth $157,847. Insiders own 1.70% of the company’s stock.

Power Integrations Stock Down 1.7 %

Power Integrations stock opened at $63.98 on Wednesday. The business has a fifty day moving average of $62.28 and a two-hundred day moving average of $68.02. The firm has a market cap of $3.64 billion, a P/E ratio of 96.94, a P/E/G ratio of 5.33 and a beta of 1.10. Power Integrations, Inc. has a twelve month low of $56.63 and a twelve month high of $89.68.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $115.84 million during the quarter, compared to analyst estimates of $114.83 million. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. Power Integrations’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. Equities analysts expect that Power Integrations, Inc. will post 0.59 earnings per share for the current year.

Power Integrations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, November 29th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s dividend payout ratio is currently 121.21%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on POWI. Benchmark reaffirmed a “buy” rating and set a $78.00 target price on shares of Power Integrations in a research note on Friday, November 8th. StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Susquehanna cut their target price on Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a research note on Thursday, November 7th. Northland Securities raised Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Monday, August 12th. Finally, Northland Capmk raised Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Power Integrations 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.