Edgestream Partners L.P. Acquires 23,509 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Edgestream Partners L.P. raised its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 44.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,366 shares of the semiconductor company’s stock after acquiring an additional 23,509 shares during the quarter. Edgestream Partners L.P. owned about 0.13% of Power Integrations worth $4,712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in Power Integrations by 110.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 537 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 282 shares during the last quarter. Versant Capital Management Inc boosted its stake in Power Integrations by 1,618.2% in the fourth quarter. Versant Capital Management Inc now owns 567 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 534 shares during the last quarter. UMB Bank n.a. boosted its stake in Power Integrations by 43.9% in the fourth quarter. UMB Bank n.a. now owns 629 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 192 shares during the last quarter. Truvestments Capital LLC bought a new position in Power Integrations in the third quarter valued at approximately $87,000. Finally, KBC Group NV boosted its stake in Power Integrations by 32.0% in the third quarter. KBC Group NV now owns 1,782 shares of the semiconductor company’s stock valued at $114,000 after acquiring an additional 432 shares during the last quarter.

Power Integrations Stock Up 5.2 %

Shares of NASDAQ:POWI opened at $62.78 on Friday. Power Integrations, Inc. has a 12 month low of $56.63 and a 12 month high of $79.13. The company’s fifty day simple moving average is $61.37 and its 200 day simple moving average is $62.58. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 110.14, a PEG ratio of 4.08 and a beta of 1.11.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.12). Power Integrations had a return on equity of 4.48% and a net margin of 7.69%. Research analysts expect that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.84 annualized dividend and a yield of 1.34%. Power Integrations’s payout ratio is currently 147.37%.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, CFO Sandeep Nayyar sold 5,152 shares of Power Integrations stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $60.75, for a total value of $312,984.00. Following the sale, the chief financial officer now directly owns 110,394 shares in the company, valued at approximately $6,706,435.50. The trade was a 4.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Balu Balakrishnan sold 12,507 shares of Power Integrations stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $60.64, for a total transaction of $758,424.48. Following the completion of the sale, the chief executive officer now owns 600,002 shares in the company, valued at $36,384,121.28. The trade was a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,544 shares of company stock worth $2,433,105. Insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

POWI has been the topic of several analyst reports. StockNews.com lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a report on Friday. Benchmark reiterated a “buy” rating and issued a $78.00 target price on shares of Power Integrations in a report on Friday, February 7th. Three research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.00.

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.