Granite Investment Partners LLC Sells 30,105 Shares of Power Integrations, Inc. $POWI

Granite Investment Partners LLC decreased its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 8.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 324,926 shares of the semiconductor company’s stock after selling 30,105 shares during the period. Power Integrations makes up 1.0% of Granite Investment Partners LLC’s portfolio, making the stock its 21st biggest position. Granite Investment Partners LLC’s holdings in Power Integrations were worth $16,636,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. UBS Group AG raised its position in Power Integrations by 149.5% in the fourth quarter. UBS Group AG now owns 276,073 shares of the semiconductor company’s stock worth $9,812,000 after purchasing an additional 165,405 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Power Integrations by 248.4% in the 4th quarter. State of Alaska Department of Revenue now owns 30,924 shares of the semiconductor company’s stock valued at $1,098,000 after purchasing an additional 22,049 shares during the period. SG Americas Securities LLC grew its stake in shares of Power Integrations by 108.7% in the 4th quarter. SG Americas Securities LLC now owns 44,351 shares of the semiconductor company’s stock valued at $1,576,000 after purchasing an additional 23,096 shares during the period. GSA Capital Partners LLP bought a new position in shares of Power Integrations during the 4th quarter worth approximately $1,072,000. Finally, M&T Bank Corp lifted its position in shares of Power Integrations by 3,635.7% during the 4th quarter. M&T Bank Corp now owns 748,555 shares of the semiconductor company’s stock worth $26,604,000 after buying an additional 728,517 shares during the period.

Insiders Place Their Bets

In other Power Integrations news, Director Nicholas Brathwaite sold 1,728 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $86.62, for a total value of $149,679.36. Following the completion of the transaction, the director directly owned 22,226 shares of the company’s stock, valued at approximately $1,925,216.12. The trade was a 7.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sunil Gupta sold 6,860 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $83.67, for a total transaction of $573,976.20. Following the transaction, the vice president owned 64,379 shares in the company, valued at $5,386,590.93. The trade was a 9.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 334,772 shares of company stock valued at $27,322,535 in the last 90 days. 1.40% of the stock is currently owned by insiders.

Power Integrations Price Performance

POWI stock opened at $66.46 on Thursday. The business has a fifty day moving average price of $77.04 and a 200 day moving average price of $57.92. Power Integrations, Inc. has a fifty-two week low of $30.86 and a fifty-two week high of $91.18. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 221.54, a P/E/G ratio of 2.91 and a beta of 1.57.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The company had revenue of $108.31 million for the quarter, compared to analyst estimates of $106.75 million. Power Integrations had a return on equity of 5.34% and a net margin of 3.72%.The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. On average, equities analysts expect that Power Integrations, Inc. will post 0.89 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were given a dividend of $0.215 per share. The ex-dividend date was Friday, May 29th. This represents a $0.86 annualized dividend and a yield of 1.3%. Power Integrations’s dividend payout ratio is 286.67%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on POWI shares. Susquehanna upped their price target on Power Integrations from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Friday, May 8th. Zacks Research raised Power Integrations from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Power Integrations in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Power Integrations in a report on Friday, May 8th. Finally, Stifel Nicolaus increased their target price on shares of Power Integrations from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.20.

Power Integrations Company Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.