GW&K Investment Management LLC Sells 32,178 Shares of Power Integrations Inc (NASDAQ:POWI)

GW&K Investment Management LLC cut its stake in shares of Power Integrations Inc (NASDAQ:POWI) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 451,573 shares of the semiconductor company’s stock after selling 32,178 shares during the quarter. GW&K Investment Management LLC’s holdings in Power Integrations were worth $40,836,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Power Integrations by 0.7% during the 2nd quarter. BlackRock Inc. now owns 4,230,257 shares of the semiconductor company’s stock valued at $339,182,000 after purchasing an additional 30,956 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Power Integrations by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 3,003,910 shares of the semiconductor company’s stock valued at $240,854,000 after purchasing an additional 16,957 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Power Integrations by 7.8% during the 2nd quarter. Invesco Ltd. now owns 937,237 shares of the semiconductor company’s stock valued at $75,147,000 after purchasing an additional 68,121 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Power Integrations by 4.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 700,687 shares of the semiconductor company’s stock valued at $53,982,000 after purchasing an additional 30,802 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Power Integrations by 0.9% during the 2nd quarter. Northern Trust Corp now owns 547,014 shares of the semiconductor company’s stock valued at $43,859,000 after purchasing an additional 4,741 shares during the last quarter. 97.02% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on POWI shares. Loop Capital raised shares of Power Integrations from a “hold” rating to a “buy” rating and boosted their target price for the stock from $83.00 to $102.00 in a report on Friday, October 25th. ValuEngine lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub lowered shares of Power Integrations from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. Deutsche Bank set a $80.00 target price on shares of Power Integrations and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, Zacks Investment Research raised shares of Power Integrations from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Saturday, October 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $91.20.

POWI traded up $0.85 during trading on Friday, reaching $94.10. 120,000 shares of the company’s stock were exchanged, compared to its average volume of 154,298. The stock has a market capitalization of $2.78 billion, a PE ratio of 43.97 and a beta of 1.25. The firm has a fifty day moving average price of $91.25 and a two-hundred day moving average price of $82.70. Power Integrations Inc has a one year low of $55.24 and a one year high of $102.38.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Thursday, October 24th. The semiconductor company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. The business had revenue of $114.16 million during the quarter, compared to analyst estimates of $114.20 million. Power Integrations had a net margin of 14.50% and a return on equity of 9.64%. Power Integrations’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 EPS. As a group, equities research analysts anticipate that Power Integrations Inc will post 1.86 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Wednesday, November 27th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.17. Power Integrations’s payout ratio is 31.78%.

In other Power Integrations news, CEO Balu Balakrishnan sold 16,865 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $95.04, for a total transaction of $1,602,849.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Balakrishnan S. Iyer sold 4,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $89.00, for a total transaction of $356,000.00. Following the sale, the director now owns 20,240 shares of the company’s stock, valued at approximately $1,801,360. The disclosure for this sale can be found here. Insiders have sold a total of 103,254 shares of company stock valued at $9,495,564 in the last 90 days. 4.10% of the stock is currently owned by company insiders.

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 worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 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, and other consumer and industrial applications, as well as light-emitting diode lighting.

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

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