US Bancorp DE Sells 22,289 Shares of Power Integrations, Inc. (NASDAQ:POWI)

US Bancorp DE cut its stake in Power Integrations, Inc. (NASDAQ:POWI – Get Rating) by 65.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,548 shares of the semiconductor company’s stock after selling 22,289 shares during the period. US Bancorp DE’s holdings in Power Integrations were worth $743,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Power Integrations during the 2nd quarter worth approximately $38,000. Exchange Traded Concepts LLC grew its position in shares of Power Integrations by 34.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 819 shares of the semiconductor company’s stock worth $53,000 after buying an additional 209 shares during the period. CWM LLC grew its holdings in Power Integrations by 176.0% during the second quarter. CWM LLC now owns 908 shares of the semiconductor company’s stock valued at $68,000 after purchasing an additional 579 shares during the period. Covestor Ltd grew its holdings in Power Integrations by 179.3% during the first quarter. Covestor Ltd now owns 863 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 554 shares during the period. Finally, Wipfli Financial Advisors LLC acquired a new position in Power Integrations during the third quarter valued at approximately $109,000. 99.00% of the stock is owned by institutional investors.

Power Integrations Stock Up 3.3 %

Power Integrations stock opened at $84.65 on Friday. The stock has a market capitalization of $4.84 billion, a PE ratio of 26.54 and a beta of 1.15. Power Integrations, Inc. has a twelve month low of $59.16 and a twelve month high of $98.92. The company has a 50 day moving average of $76.45 and a 200-day moving average of $73.71.

Power Integrations (NASDAQ:POWI – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The semiconductor company reported $0.80 EPS 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 net margin of 27.00% and a return on equity of 23.96%. Equities analysts anticipate that Power Integrations, Inc. will post 2.88 EPS for the current fiscal year.

Power Integrations Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th were given 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 dividend payout ratio is presently 22.57%.

Insider Transactions at Power Integrations

In other news, VP David Mh Matthews sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $76.64, for a total value of $383,200.00. Following the sale, the vice president now owns 101,233 shares of the company’s stock, valued at $7,758,497.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 11,104 shares of company stock valued at $860,085 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

POWI has been the subject of a number of analyst reports. StockNews.com cut shares of Power Integrations from a “buy” rating to a “hold” rating in a report on Saturday, October 15th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Power Integrations from $75.00 to $70.00 in a report on Thursday, November 3rd. Cowen cut shares of Power Integrations from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $90.00 to $65.00 in a report on Thursday, November 3rd. Cowen cut shares of Power Integrations from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $90.00 to $65.00 in a report on Thursday, November 3rd. Finally, Northland Securities cut shares of 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. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Power Integrations has an average rating of “Hold” and an average target price of $78.86.

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.