Power Integrations, Inc. $POWI Stock Sold by Congress Asset Management Co.

Congress Asset Management Co. trimmed its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 914,069 shares of the semiconductor company’s stock after selling 15,990 shares during the quarter. Congress Asset Management Co. owned 1.64% of Power Integrations worth $47,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC bought a new position in shares of Power Integrations during the second quarter valued at about $33,000. Allworth Financial LP bought a new stake in Power Integrations in the 2nd quarter worth about $42,000. Global Retirement Partners LLC bought a new stake in Power Integrations in the 2nd quarter worth about $44,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Power Integrations in the 2nd quarter valued at about $48,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Power Integrations by 125.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 814 shares of the semiconductor company’s stock worth $42,000 after buying an additional 453 shares in the last quarter.

Power Integrations Trading Down 1.8%

Shares of NASDAQ POWI traded down $0.96 during mid-day trading on Tuesday, hitting $53.40. The company had a trading volume of 506,611 shares, compared to its average volume of 964,362. Power Integrations, Inc. has a 1 year low of $30.86 and a 1 year high of $91.18. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 118.67 and a beta of 1.54. The stock’s 50-day moving average price is $54.74 and its 200-day moving average price is $64.12.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $118.94 million for the quarter, compared to analysts’ expectations of $117.44 million. Power Integrations had a return on equity of 5.50% and a net margin of 5.58%.The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, equities research analysts forecast that Power Integrations, Inc. will post 0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on POWI shares. Wall Street Zen upgraded Power Integrations from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Zacks Research downgraded Power Integrations from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Stifel Nicolaus decreased their price objective on Power Integrations from $80.00 to $72.00 and set a “buy” rating for the company in a report on Monday. Williams Trading set a $80.00 price objective on shares of Power Integrations in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Power Integrations from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.33.

Power Integrations Company Profile

Power Integrations, Inc is a semiconductor company that designs and manufactures high-performance power-conversion technologies. Its products are used to convert and manage electrical power in applications such as consumer electronics, appliances, industrial equipment, communications systems, renewable-energy installations and automotive systems.

The company’s product portfolio includes integrated circuits for AC-to-DC and DC-to-DC power supplies, LED lighting drivers, power-factor-correction systems, high-voltage gate drivers and motor-drive applications.