Harbor Capital Advisors Inc. Has $745,000 Stake in Power Integrations, Inc. (NASDAQ:POWI)

Harbor Capital Advisors Inc. increased its stake in Power Integrations, Inc. (NASDAQ:POWI) by 295.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,616 shares of the semiconductor company’s stock after purchasing an additional 7,932 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Power Integrations were worth $745,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in Power Integrations during the 4th quarter valued at approximately $26,000. SRS Capital Advisors Inc. grew its holdings in shares of Power Integrations by 369.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 408 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 321 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Power Integrations in the first quarter valued at $51,000. Fidelis Capital Partners LLC acquired a new stake in shares of Power Integrations in the first quarter valued at $55,000. Finally, Covestor Ltd raised its holdings in shares of Power Integrations by 16.3% in the first quarter. Covestor Ltd now owns 1,581 shares of the semiconductor company’s stock valued at $113,000 after buying an additional 222 shares during the last quarter.

Power Integrations Trading Down 5.5 %

Shares of NASDAQ:POWI traded down $3.55 during trading on Wednesday, hitting $60.72. 668,906 shares of the company’s stock traded hands, compared to its average volume of 400,277. The company has a 50-day moving average price of $72.58 and a 200-day moving average price of $72.54. Power Integrations, Inc. has a 52 week low of $59.97 and a 52 week high of $89.68. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 66.14, a price-to-earnings-growth ratio of 3.81 and a beta of 1.11.

Power Integrations (NASDAQ:POWI) last released its earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $106.20 million during the quarter, compared to analysts’ expectations of $105.02 million. Power Integrations had a return on equity of 6.13% and a net margin of 12.28%. During the same quarter in the prior year, the company earned $0.27 EPS. The company’s revenue was down 13.8% on a year-over-year basis. On average, analysts predict that Power Integrations, Inc. will post 0.73 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Friday, May 31st. Power Integrations’s dividend payout ratio (DPR) is currently 86.96%.

Insider Buying and Selling at Power Integrations

In related news, insider David Mh Matthews sold 5,000 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $76.88, for a total transaction of $384,400.00. Following the completion of the transaction, the insider now directly owns 63,229 shares of the company’s stock, valued at $4,861,045.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Sandeep Nayyar sold 4,839 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $77.25, for a total transaction of $373,812.75. Following the transaction, the chief financial officer now directly owns 90,198 shares in the company, valued at approximately $6,967,795.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Mh Matthews sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $76.88, for a total transaction of $384,400.00. Following the completion of the sale, the insider now owns 63,229 shares of the company’s stock, valued at $4,861,045.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,100 shares of company stock worth $2,481,667. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Stifel Nicolaus reissued a “buy” rating and set a $95.00 price objective (down previously from $100.00) on shares of Power Integrations in a report on Monday. Benchmark restated a “buy” rating and issued a $90.00 price objective on shares of Power Integrations in a report on Friday, June 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, TD Cowen decreased their price objective on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $81.67.

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.