Power Integrations, Inc. (NASDAQ:POWI) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE boosted its stake in Power Integrations, Inc. (NASDAQ:POWI) by 18.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 401,125 shares of the semiconductor company’s stock after buying an additional 62,750 shares during the period. Bank of America Corp DE owned 0.71% of Power Integrations worth $24,749,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Power Integrations in the 4th quarter worth approximately $368,000. AQR Capital Management LLC boosted its stake in Power Integrations by 138.0% during the 4th quarter. AQR Capital Management LLC now owns 89,814 shares of the semiconductor company’s stock valued at $5,542,000 after purchasing an additional 52,079 shares in the last quarter. Northern Trust Corp boosted its stake in Power Integrations by 9.1% during the 4th quarter. Northern Trust Corp now owns 996,040 shares of the semiconductor company’s stock valued at $61,456,000 after purchasing an additional 83,186 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Power Integrations during the 4th quarter valued at $51,000. Finally, Snyder Capital Management L P raised its stake in shares of Power Integrations by 22.3% in the 4th quarter. Snyder Capital Management L P now owns 882,518 shares of the semiconductor company’s stock worth $54,451,000 after buying an additional 160,784 shares in the last quarter.

Insider Activity

In related news, CEO Balu Balakrishnan sold 9,544 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $51.19, for a total transaction of $488,557.36. Following the transaction, the chief executive officer now directly owns 590,580 shares of the company’s stock, valued at approximately $30,231,790.20. The trade was a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Nayyar sold 1,929 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.89, for a total value of $98,166.81. Following the completion of the sale, the chief financial officer now directly owns 107,357 shares of the company’s stock, valued at approximately $5,463,397.73. This represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,954 shares of company stock worth $1,328,862 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on POWI. Benchmark reaffirmed a “buy” rating and set a $78.00 target price on shares of Power Integrations in a research note on Friday, February 7th. Stifel Nicolaus raised their price objective on shares of Power Integrations from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Finally, StockNews.com cut shares of Power Integrations from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Power Integrations presently has a consensus rating of “Moderate Buy” and an average target price of $74.67.

Power Integrations Trading Down 0.5%

Shares of POWI opened at $53.97 on Monday. The business’s 50-day moving average price is $50.65 and its 200 day moving average price is $58.30. The stock has a market capitalization of $3.04 billion, a P/E ratio of 94.69, a P/E/G ratio of 4.08 and a beta of 1.31. Power Integrations, Inc. has a 1-year low of $40.78 and a 1-year high of $79.13.

Power Integrations (NASDAQ:POWI) last released its earnings results on Monday, May 12th. The semiconductor company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. The business had revenue of $105.53 million for the quarter, compared to the consensus estimate of $105.44 million. Power Integrations had a net margin of 7.69% and a return on equity of 4.48%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. On average, research analysts predict that Power Integrations, Inc. will post 0.93 earnings per share for the current year.

Power Integrations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Friday, May 30th. Power Integrations’s dividend payout ratio (DPR) is currently 129.23%.

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.