Truvestments Capital LLC Invests $87,000 in Power Integrations, Inc. (NASDAQ:POWI)

Truvestments Capital LLC purchased a new stake in Power Integrations, Inc. (NASDAQ:POWI) during the third quarter, Holdings Channel reports. The institutional investor purchased 1,350 shares of the semiconductor company’s stock, valued at approximately $87,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in POWI. Copeland Capital Management LLC lifted its holdings in Power Integrations by 21.5% during the third quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company’s stock valued at $77,401,000 after purchasing an additional 213,392 shares in the last quarter. Ceredex Value Advisors LLC lifted 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. lifted its stake in Power Integrations by 18.4% in the 3rd quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company’s stock valued at $39,875,000 after buying an additional 96,609 shares in the last quarter. Millennium Management LLC boosted its holdings in Power Integrations by 23.4% in the 2nd quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock worth $41,634,000 after buying an additional 112,595 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in Power Integrations by 2.6% during the 3rd quarter. Stephens Investment Management Group LLC now owns 567,477 shares of the semiconductor company’s stock worth $36,387,000 after buying an additional 14,306 shares in the last quarter.

Power Integrations Price Performance

Shares of POWI opened at $65.66 on Wednesday. The firm has a 50-day simple moving average of $62.92 and a two-hundred day simple moving average of $67.53. Power Integrations, Inc. has a 1-year low of $56.63 and a 1-year high of $89.68. The stock has a market cap of $3.73 billion, a PE ratio of 99.49, a P/E/G ratio of 7.37 and a beta of 1.10.

Power Integrations (NASDAQ:POWI) last announced its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The company 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% on a year-over-year basis. During the same period last year, the business posted $0.35 EPS. As a group, sell-side analysts expect that Power Integrations, Inc. will post 0.54 earnings per share 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 paid a dividend of $0.21 per share. This is an increase from Power Integrations’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, November 29th. Power Integrations’s dividend payout ratio is presently 121.21%.

Insiders Place Their Bets

In related news, VP Doug Bailey sold 8,549 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $64.96, for a total transaction of $555,343.04. Following the sale, the vice president now directly owns 86,375 shares in the company, valued at approximately $5,610,920. This represents a 9.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on POWI shares. Northland Securities upgraded Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Monday, August 12th. TD Cowen decreased their price objective on Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their target price on Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Northland Capmk raised shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.