Tributary Capital Management LLC Has $19.34 Million Stake in Power Integrations, Inc. (NASDAQ:POWI)

Tributary Capital Management LLC lifted its stake in Power Integrations, Inc. (NASDAQ:POWI) by 19.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 270,291 shares of the semiconductor company’s stock after buying an additional 44,923 shares during the period. Power Integrations comprises 1.6% of Tributary Capital Management LLC’s portfolio, making the stock its 28th biggest holding. Tributary Capital Management LLC’s holdings in Power Integrations were worth $19,339,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Congress Wealth Management LLC DE lifted its stake in shares of Power Integrations by 6.4% in the first quarter. Congress Wealth Management LLC DE now owns 68,152 shares of the semiconductor company’s stock valued at $4,876,000 after buying an additional 4,125 shares during the period. Catalyst Private Wealth LLC lifted its stake in shares of Power Integrations by 4.3% in the first quarter. Catalyst Private Wealth LLC now owns 9,620 shares of the semiconductor company’s stock valued at $688,000 after buying an additional 400 shares during the period. Congress Asset Management Co. MA lifted its stake in Power Integrations by 14.8% during the first quarter. Congress Asset Management Co. MA now owns 487,506 shares of the semiconductor company’s stock worth $34,881,000 after purchasing an additional 62,824 shares during the period. Mather Group LLC. bought a new position in Power Integrations during the first quarter worth about $51,000. Finally, PNC Financial Services Group Inc. lifted its stake in Power Integrations by 3.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,385 shares of the semiconductor company’s stock worth $606,000 after purchasing an additional 231 shares during the period.

Power Integrations Stock Down 0.7 %

POWI traded down $0.50 during midday trading on Monday, reaching $69.69. 382,362 shares of the company’s stock were exchanged, compared to its average volume of 400,314. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 75.75, a price-to-earnings-growth ratio of 3.91 and a beta of 1.18. Power Integrations, Inc. has a one year low of $62.13 and a one year high of $99.60. The business has a 50-day simple moving average of $73.17 and a two-hundred day simple moving average of $74.11.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Tuesday, May 7th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter. Power Integrations had a net margin of 12.28% and a return on equity of 6.13%. The company had revenue of $91.69 million during the quarter, compared to analysts’ expectations of $89.98 million. As a group, research analysts anticipate that Power Integrations, Inc. will post 0.73 EPS for the current fiscal year.

Power Integrations Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Friday, May 31st. Power Integrations’s dividend payout ratio (DPR) is currently 86.96%.

Wall Street Analysts Forecast Growth

Separately, Benchmark restated a “buy” rating and set a $90.00 price target on shares of Power Integrations in a research note on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.40.

Insider Activity

In other news, CFO Sandeep Nayyar sold 5,000 shares of Power Integrations stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the completion of the transaction, the chief financial officer now owns 85,198 shares in the company, valued at $6,688,043. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Yang Chiah Yee sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $73.75, for a total value of $104,135.00. Following the completion of the sale, the vice president now owns 45,436 shares of the company’s stock, valued at $3,350,905. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sandeep Nayyar sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the completion of the sale, the chief financial officer now directly owns 85,198 shares of the company’s stock, valued at approximately $6,688,043. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,094 shares of company stock worth $3,443,600. Insiders own 1.70% of the company’s stock.

About Power Integrations

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.