Mutual of America Capital Management LLC Sells 1,786 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Mutual of America Capital Management LLC reduced its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 5.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 30,715 shares of the semiconductor company’s stock after selling 1,786 shares during the period. Mutual of America Capital Management LLC’s holdings in Power Integrations were worth $1,969,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Power Integrations by 1.6% during the first quarter. Vanguard Group Inc. now owns 6,528,564 shares of the semiconductor company’s stock valued at $467,119,000 after purchasing an additional 105,034 shares in the last quarter. Copeland Capital Management LLC lifted its position in shares of Power Integrations by 21.5% during the 3rd quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company’s stock worth $77,401,000 after buying an additional 213,392 shares during the period. Ceredex Value Advisors LLC boosted its stake in Power Integrations by 4.8% in the 2nd quarter. Ceredex Value Advisors LLC now owns 756,282 shares of the semiconductor company’s stock valued at $53,083,000 after buying an additional 34,400 shares in the last quarter. Congress Asset Management Co. raised its stake in Power Integrations by 18.4% during the third quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company’s stock worth $39,875,000 after acquiring an additional 96,609 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Power Integrations by 23.4% during the second quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock valued at $41,634,000 after acquiring an additional 112,595 shares during the period.

Power Integrations Trading Up 2.0 %

Shares of Power Integrations stock opened at $63.68 on Monday. Power Integrations, Inc. has a 12 month low of $56.63 and a 12 month high of $89.68. The company has a market capitalization of $3.62 billion, a PE ratio of 96.49, a PEG ratio of 6.76 and a beta of 1.10. The stock’s fifty day simple moving average is $62.73 and its 200 day simple moving average is $67.60.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $115.84 million during the quarter, compared to analysts’ expectations 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 for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 EPS. Analysts predict that Power Integrations, Inc. will post 0.54 EPS for the current fiscal year.

Power Integrations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a yield of 1.32%. This is an increase from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s dividend payout ratio (DPR) is 121.21%.

Insider Activity at Power Integrations

In other news, VP Sunil Gupta sold 2,127 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total transaction 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. The trade was a 3.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Doug Bailey sold 8,549 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $64.96, for a total value of $555,343.04. Following the transaction, the vice president now directly owns 86,375 shares in the company, 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. Over the last 90 days, insiders sold 10,782 shares of company stock valued at $702,135. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on POWI shares. Benchmark reaffirmed a “buy” rating and issued a $78.00 target price on shares of Power Integrations in a report on Friday, November 8th. Susquehanna dropped their target price on Power Integrations from $80.00 to $77.00 and set a “positive” rating for the company in a research report on Thursday, November 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 price objective (down from $100.00) on shares of Power Integrations in a research report on Monday, August 5th. Northland Capmk upgraded Power Integrations from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, TD Cowen dropped their price objective on Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Three 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. According to data from MarketBeat.com, the company has an average 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.