Comerica Bank Sells 1,826 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Comerica Bank reduced its position in shares of Power Integrations, Inc. (NASDAQ:POWIGet Rating) by 5.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,299 shares of the semiconductor company’s stock after selling 1,826 shares during the period. Comerica Bank owned 0.05% of Power Integrations worth $1,919,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Power Integrations by 2.8% in the 1st quarter. Wellington Management Group LLP now owns 2,496,977 shares of the semiconductor company’s stock worth $231,420,000 after purchasing an additional 67,672 shares during the period. Robeco Schweiz AG raised its stake in shares of Power Integrations by 49.3% in the first quarter. Robeco Schweiz AG now owns 1,176,650 shares of the semiconductor company’s stock valued at $109,052,000 after buying an additional 388,650 shares during the period. Macquarie Group Ltd. raised its stake in shares of Power Integrations by 108.2% in the second quarter. Macquarie Group Ltd. now owns 1,122,553 shares of the semiconductor company’s stock valued at $84,202,000 after buying an additional 583,352 shares during the period. Boston Trust Walden Corp raised its stake in shares of Power Integrations by 3.5% in the third quarter. Boston Trust Walden Corp now owns 698,666 shares of the semiconductor company’s stock valued at $44,938,000 after buying an additional 23,466 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Power Integrations by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 650,277 shares of the semiconductor company’s stock valued at $60,268,000 after acquiring an additional 6,790 shares during the period. Institutional investors own 99.00% of the company’s stock.

Power Integrations Stock Performance

Power Integrations stock opened at $84.65 on Friday. The stock has a market cap of $4.84 billion, a P/E ratio of 26.54 and a beta of 1.15. Power Integrations, Inc. has a fifty-two week low of $59.16 and a fifty-two week high of $98.92. The firm’s fifty day moving average price is $76.45 and its 200-day moving average price is $73.71.

Power Integrations (NASDAQ:POWIGet Rating) last announced its earnings results on Wednesday, November 2nd. The semiconductor company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. The business had revenue of $160.23 million for the quarter, compared to analyst estimates of $163.25 million. Power Integrations had a return on equity of 23.96% and a net margin of 27.00%. Sell-side analysts predict that Power Integrations, Inc. will post 2.88 earnings per share for the current year.

Power Integrations Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Tuesday, November 29th. Power Integrations’s payout ratio is 22.57%.

Analysts Set New Price Targets

POWI has been the topic of a number of research reports. Cowen cut Power Integrations from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $90.00 to $65.00 in a research note on Thursday, November 3rd. Cowen downgraded Power Integrations from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $90.00 to $65.00 in a research report on Thursday, November 3rd. Northland Securities lowered Power Integrations from an “outperform” rating to a “market perform” rating and set a $66.00 price target for the company. in a report on Monday, November 21st. StockNews.com lowered Power Integrations from a “buy” rating to a “hold” rating in a research note on Saturday, October 15th. Finally, TheStreet cut Power Integrations from an “a-” rating to a “c” rating in a report on Friday, November 4th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $78.86.

Insider Transactions at Power Integrations

In related news, VP David Mh Matthews sold 5,948 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $78.29, for a total value of $465,668.92. Following the transaction, the vice president now owns 106,233 shares of the company’s stock, valued at $8,316,981.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 11,104 shares of company stock valued at $860,085 in the last quarter. Insiders own 1.60% of the company’s stock.

Power Integrations Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

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