Congress Wealth Management LLC DE Sells 10,792 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Congress Wealth Management LLC DE reduced its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 13.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,895 shares of the semiconductor company’s stock after selling 10,792 shares during the period. Congress Wealth Management LLC DE owned approximately 0.12% of Power Integrations worth $4,313,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of POWI. Vanguard Group Inc. increased its position in Power Integrations by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,210,835 shares of the semiconductor company’s stock worth $444,909,000 after acquiring an additional 114,047 shares during the period. LPL Financial LLC increased its holdings in shares of Power Integrations by 14.8% during the 4th quarter. LPL Financial LLC now owns 18,707 shares of the semiconductor company’s stock worth $1,154,000 after purchasing an additional 2,407 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Power Integrations during the 4th quarter worth about $697,000. Sei Investments Co. raised its position in shares of Power Integrations by 4.9% during the fourth quarter. Sei Investments Co. now owns 96,598 shares of the semiconductor company’s stock valued at $5,960,000 after buying an additional 4,477 shares during the last quarter. Finally, Xponance Inc. lifted its stake in shares of Power Integrations by 4.8% in the fourth quarter. Xponance Inc. now owns 8,027 shares of the semiconductor company’s stock valued at $495,000 after buying an additional 371 shares during the period.

Power Integrations Trading Down 1.3 %

Shares of POWI opened at $55.74 on Wednesday. The stock has a market cap of $3.17 billion, a PE ratio of 97.79, a PEG ratio of 4.08 and a beta of 1.11. Power Integrations, Inc. has a 1 year low of $54.04 and a 1 year high of $79.13. The stock has a 50 day simple moving average of $60.20 and a 200-day simple moving average of $61.88.

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

Power Integrations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.84 annualized dividend and a yield of 1.51%. Power Integrations’s dividend payout ratio is 147.37%.

Analyst Ratings Changes

POWI has been the topic of several research reports. StockNews.com lowered Power Integrations from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Benchmark restated a “buy” rating and set a $78.00 price objective on shares of Power Integrations in a research 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 issued a strong buy rating to the stock. According to MarketBeat, Power Integrations currently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Insider Transactions at Power Integrations

In other news, VP Clifford Walker sold 1,131 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $58.01, for a total transaction of $65,609.31. Following the sale, the vice president now owns 143,718 shares in the company, valued at approximately $8,337,081.18. This represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Balu Balakrishnan sold 12,507 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $36,384,121.28. The trade was a 2.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,544 shares of company stock valued at $2,433,105. Corporate insiders own 1.70% of the company’s stock.

Power Integrations Company 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.