Riverbridge Partners Lowers stake in Power Integrations Inc (POWI)

Power Integrations Inc (POWI) : Riverbridge Partners reduced its stake in Power Integrations Inc by 5.19% during the most recent quarter end. The investment management company now holds a total of 671,519 shares of Power Integrations Inc which is valued at $37,182,007 after selling 36,796 shares in Power Integrations Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Power Integrations Inc makes up approximately 0.75% of Riverbridge Partners’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in POWI in the latest quarter, The investment management firm added 16,869 additional shares and now holds a total of 17,529 shares of Power Integrations Inc which is valued at $970,581. Power Integrations Inc makes up approx 0.01% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Msi Financial Services Inc boosted its stake in POWI in the latest quarter, The investment management firm added 12 additional shares and now holds a total of 999 shares of Power Integrations Inc which is valued at $56,344. Trust Co Of Vermont added POWI to its portfolio by purchasing 85 company shares during the most recent quarter which is valued at $4,644.

Power Integrations Inc opened for trading at $55.39 and hit $55.74 on the upside on Thursday, eventually ending the session at $55.41, with a gain of 0.07% or 0.04 points. The heightened volatility saw the trading volume jump to 84,010 shares. Company has a market cap of $1,601 M.

On the company’s financial health, Power Integrations Inc reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.50. The company had revenue of $97.20 million for the quarter, compared to analysts expectations of $90.98 million. The company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.

Investors should note that on Jul 28, 2016, Power Integrations Inc announced a cash dividend of $0.1300. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 30, 2016.

Power Integrations Inc. (Power Integrations) 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. The Company’s AC-DC power conversion products are TinySwitch LinkSwitch Hiper and InnoSwitch families. Its Insulated-gate bipolar transistors (IGBT) drivers products are the SCALE and SCALE-2 product-families. The Company’s High-voltage DC-DC products are DPA-Switch family. The Company’s power supplies are used with various electronic products including mobile phones computers entertainment and networking equipment appliances utility meters industrial controls and light emitting diodes (LED) lights. It sells its products to original equipment manufacturers (OEMs) and merchant power supply manufacturers.

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