Illinois Municipal Retirement Fund Makes New Investment in Power Integrations, Inc. $POWI

Illinois Municipal Retirement Fund purchased a new stake in Power Integrations, Inc. (NASDAQ:POWI) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 28,739 shares of the semiconductor company’s stock, valued at approximately $1,471,000. Illinois Municipal Retirement Fund owned 0.05% of Power Integrations at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of POWI. Geneos Wealth Management Inc. boosted its position in shares of Power Integrations by 576.3% during the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock worth $32,000 after buying an additional 536 shares during the period. Kestra Advisory Services LLC acquired a new stake in Power Integrations in the 4th quarter valued at approximately $36,000. UMB Bank n.a. raised its position in Power Integrations by 61.7% in the 4th quarter. UMB Bank n.a. now owns 1,074 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 410 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Power Integrations in the 4th quarter valued at approximately $48,000. Finally, Global X Japan Co. Ltd. lifted its stake in Power Integrations by 98.0% in the 4th quarter. Global X Japan Co. Ltd. now owns 1,998 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 989 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have weighed in on POWI. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Stifel Nicolaus boosted their price objective 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. Zacks Research upgraded shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Needham & Company LLC initiated coverage on shares of Power Integrations in a research report on Wednesday, June 10th. They issued a “buy” rating and a $90.00 target price for the company. Finally, Benchmark lifted their price target on shares of Power Integrations from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.20.

Power Integrations Stock Performance

POWI opened at $74.39 on Wednesday. The business’s 50-day simple moving average is $76.76 and its 200 day simple moving average is $60.11. Power Integrations, Inc. has a 52-week low of $30.86 and a 52-week high of $91.18. The firm has a market capitalization of $4.15 billion, a PE ratio of 247.97, a PEG ratio of 3.65 and a beta of 1.57.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Power Integrations had a return on equity of 5.34% and a net margin of 3.72%.The firm had revenue of $108.31 million during the quarter, compared to the consensus estimate of $106.75 million. During the same period last year, the company earned $0.31 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. On average, research analysts forecast that Power Integrations, Inc. will post 0.76 earnings per share for the current year.

Power Integrations Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, May 29th. Power Integrations’s payout ratio is presently 286.67%.

Insider Buying and Selling

In other Power Integrations news, Director Balu Balakrishnan sold 124,287 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $86.44, for a total transaction of $10,743,368.28. Following the sale, the director directly owned 279,516 shares of the company’s stock, valued at approximately $24,161,363.04. This represents a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nicholas Brathwaite sold 6,895 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $72.41, for a total transaction of $499,266.95. Following the completion of the sale, the director owned 30,609 shares of the company’s stock, valued at approximately $2,216,397.69. This represents a 18.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 334,772 shares of company stock worth $27,322,535. Insiders own 1.20% of the company’s stock.

About Power Integrations

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.