Power Integrations, Inc. (NASDAQ:POWI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in Power Integrations, Inc. (NASDAQ:POWI) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 536,043 shares of the semiconductor company’s stock after selling 18,957 shares during the quarter. Bank of New York Mellon Corp owned about 0.94% of Power Integrations worth $27,070,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. lifted its position in shares of Power Integrations by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 132,718 shares of the semiconductor company’s stock valued at $6,702,000 after buying an additional 440 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Power Integrations during the 1st quarter valued at approximately $1,452,000. First Horizon Advisors Inc. lifted its position in shares of Power Integrations by 21.7% during the 1st quarter. First Horizon Advisors Inc. now owns 2,109 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 376 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Power Integrations by 4.1% during the 1st quarter. Bessemer Group Inc. now owns 6,769 shares of the semiconductor company’s stock valued at $342,000 after buying an additional 269 shares in the last quarter. Finally, Global X Japan Co. Ltd. purchased a new position in Power Integrations in the 1st quarter valued at $42,000.

Power Integrations Stock Performance

Shares of POWI opened at $53.70 on Thursday. The stock has a 50-day simple moving average of $54.77 and a 200-day simple moving average of $55.66. The stock has a market capitalization of $3.02 billion, a PE ratio of 82.62, a PEG ratio of 2.22 and a beta of 1.31. Power Integrations, Inc. has a 1 year low of $40.78 and a 1 year high of $78.69.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Monday, May 12th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.03. The business had revenue of $105.53 million during the quarter, compared to analysts’ expectations of $105.44 million. Power Integrations had a return on equity of 5.12% and a net margin of 8.56%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. Analysts predict that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, May 30th. Power Integrations’s payout ratio is presently 129.23%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on POWI. Wall Street Zen raised Power Integrations from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Benchmark reaffirmed a “buy” rating and issued a $70.00 target price on shares of Power Integrations in a research note on Wednesday. Finally, Stifel Nicolaus raised their target price on Power Integrations from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.33.

Power Integrations Company 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.