Power Integrations, Inc. (NASDAQ:POWI) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,923 shares of the semiconductor company’s stock after selling 317 shares during the quarter. M&T Bank Corp owned approximately 0.07% of Power Integrations worth $3,278,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Power Integrations by 6.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,556,319 shares of the semiconductor company’s stock valued at $195,073,000 after buying an additional 154,032 shares during the period. Wellington Management Group LLP increased its stake in Power Integrations by 5.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,275,969 shares of the semiconductor company’s stock valued at $173,679,000 after buying an additional 123,988 shares during the period. Congress Asset Management Co. MA increased its stake in Power Integrations by 26.9% in the 3rd quarter. Congress Asset Management Co. MA now owns 389,645 shares of the semiconductor company’s stock valued at $29,734,000 after buying an additional 82,614 shares during the period. Vanguard Group Inc. increased its stake in Power Integrations by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,402,391 shares of the semiconductor company’s stock valued at $488,566,000 after buying an additional 81,455 shares during the period. Finally, Rhumbline Advisers increased its stake in Power Integrations by 34.2% in the 3rd quarter. Rhumbline Advisers now owns 246,917 shares of the semiconductor company’s stock valued at $18,842,000 after buying an additional 62,900 shares during the period.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Northland Securities raised shares of Power Integrations from an “under perform” rating to a “market perform” rating and set a $67.00 price objective on the stock in a research note on Monday, February 26th. StockNews.com upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Benchmark boosted their target price on shares of Power Integrations from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, TD Cowen boosted their target price on shares of Power Integrations from $65.00 to $80.00 and gave the stock a “market perform” rating in a research report on Friday, February 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Power Integrations currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.40.

Insiders Place Their Bets

In related news, VP Yang Chiah Yee sold 996 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $80.06, for a total transaction of $79,739.76. Following the transaction, the vice president now owns 32,625 shares of the company’s stock, valued at $2,611,957.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Balu Balakrishnan sold 5,232 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $81.02, for a total value of $423,896.64. Following the completion of the transaction, the chief executive officer now directly owns 508,461 shares in the company, valued at $41,195,510.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Yang Chiah Yee sold 996 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $80.06, for a total value of $79,739.76. Following the completion of the sale, the vice president now directly owns 32,625 shares in the company, valued at $2,611,957.50. The disclosure for this sale can be found here. Insiders have sold 48,106 shares of company stock valued at $3,518,339 in the last ninety days. Insiders own 1.50% of the company’s stock.

Power Integrations Price Performance

Shares of POWI opened at $70.17 on Wednesday. Power Integrations, Inc. has a 1-year low of $62.13 and a 1-year high of $99.60. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 72.34 and a beta of 1.20. The firm has a 50 day simple moving average of $69.46 and a 200-day simple moving average of $74.24.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. Power Integrations had a return on equity of 6.46% and a net margin of 12.54%. The company had revenue of $89.51 million during the quarter, compared to analysts’ expectations of $90.21 million. On average, equities analysts expect that Power Integrations, Inc. will post 0.65 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were issued a $0.20 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.14%. Power Integrations’s dividend payout ratio (DPR) is 82.47%.

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.