Artemis Investment Management LLP Takes Position in Power Integrations, Inc. (NASDAQ:POWI)

Artemis Investment Management LLP bought a new stake in shares of Power Integrations, Inc. (NASDAQ:POWI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 209,954 shares of the semiconductor company’s stock, valued at approximately $15,300,000. Artemis Investment Management LLP owned approximately 0.71% of Power Integrations at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in POWI. Louisiana State Employees Retirement System boosted its stake in shares of Power Integrations by 2.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 12,000 shares of the semiconductor company’s stock valued at $789,000 after purchasing an additional 300 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Power Integrations by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 3,250 shares of the semiconductor company’s stock valued at $213,000 after purchasing an additional 90 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of Power Integrations by 4.6% during the 1st quarter. Nationwide Fund Advisors now owns 40,413 shares of the semiconductor company’s stock valued at $2,657,000 after purchasing an additional 1,793 shares in the last quarter. Strs Ohio boosted its stake in shares of Power Integrations by 8.1% during the 1st quarter. Strs Ohio now owns 86,500 shares of the semiconductor company’s stock valued at $5,687,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Power Integrations by 11.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 41,928 shares of the semiconductor company’s stock valued at $2,754,000 after purchasing an additional 4,457 shares in the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 target price (up previously from $82.00) on shares of Power Integrations in a research note on Sunday, July 30th. BidaskClub raised shares of Power Integrations from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Zacks Investment Research lowered shares of Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research note on Tuesday, May 30th. Drexel Hamilton set a $84.00 target price on shares of Power Integrations and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Deutsche Bank AG lowered shares of Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research note on Tuesday, July 25th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $78.50.

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In other news, insider Balu Balakrishnan sold 65,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $78.06, for a total value of $5,073,900.00. Following the sale, the insider now directly owns 319,576 shares in the company, valued at approximately $24,946,102.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholas Brathwaite sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $80.00, for a total transaction of $320,000.00. Following the completion of the sale, the director now owns 28,109 shares in the company, valued at $2,248,720. The disclosure for this sale can be found here. Insiders have sold a total of 134,593 shares of company stock worth $10,278,057 in the last three months. Insiders own 4.30% of the company’s stock.

Shares of Power Integrations, Inc. (NASDAQ POWI) opened at 73.85 on Friday. The company’s 50-day moving average is $71.13 and its 200 day moving average is $68.55. Power Integrations, Inc. has a 1-year low of $59.41 and a 1-year high of $82.80. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 41.05 and a beta of 1.23.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, July 27th. The semiconductor company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $107.56 million for the quarter, compared to the consensus estimate of $107.85 million. Power Integrations had a net margin of 13.37% and a return on equity of 12.08%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. Equities analysts anticipate that Power Integrations, Inc. will post $2.77 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Tuesday, August 29th. Power Integrations’s dividend payout ratio (DPR) is 29.95%.

About Power Integrations

Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.

Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

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