Truist Financial Corp Has $339,000 Stock Holdings in Power Integrations, Inc. $POWI

Truist Financial Corp increased its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 15.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,063 shares of the semiconductor company’s stock after purchasing an additional 803 shares during the quarter. Truist Financial Corp’s holdings in Power Integrations were worth $339,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. increased its position in Power Integrations by 1,345.8% in the 1st quarter. Invesco Ltd. now owns 1,314,208 shares of the semiconductor company’s stock valued at $66,367,000 after acquiring an additional 1,223,310 shares during the period. Northern Trust Corp increased its position in Power Integrations by 7.9% in the 1st quarter. Northern Trust Corp now owns 1,075,076 shares of the semiconductor company’s stock valued at $54,291,000 after acquiring an additional 79,036 shares during the period. Stephens Investment Management Group LLC increased its position in Power Integrations by 30.5% in the 1st quarter. Stephens Investment Management Group LLC now owns 738,976 shares of the semiconductor company’s stock valued at $37,318,000 after acquiring an additional 172,530 shares during the period. American Century Companies Inc. acquired a new position in Power Integrations in the 1st quarter valued at approximately $36,919,000. Finally, Federated Hermes Inc. increased its position in Power Integrations by 0.4% in the 1st quarter. Federated Hermes Inc. now owns 714,013 shares of the semiconductor company’s stock valued at $36,058,000 after acquiring an additional 2,996 shares during the period.

Insiders Place Their Bets

In other news, VP Gagan Jain sold 2,036 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $46.05, for a total value of $93,757.80. Following the completion of the sale, the vice president owned 18,812 shares in the company, valued at $866,292.60. This represents a 9.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Doug Bailey sold 16,989 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $46.41, for a total transaction of $788,459.49. Following the completion of the sale, the vice president owned 50,798 shares of the company’s stock, valued at approximately $2,357,535.18. This represents a 25.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,470 shares of company stock worth $1,697,214 over the last ninety days. Insiders own 1.40% of the company’s stock.

Power Integrations Trading Down 3.7%

Power Integrations stock opened at $47.03 on Friday. Power Integrations, Inc. has a 1-year low of $34.55 and a 1-year high of $69.53. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 81.09, a price-to-earnings-growth ratio of 3.19 and a beta of 1.37. The firm’s fifty day moving average price is $43.65 and its two-hundred day moving average price is $49.00.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings data on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The firm had revenue of $115.85 million for the quarter, compared to analyst estimates of $115.02 million. During the same period last year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts forecast that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Power Integrations’s dividend payout ratio (DPR) is 144.83%.

Analyst Upgrades and Downgrades

POWI has been the topic of a number of analyst reports. Susquehanna reduced their price objective on shares of Power Integrations from $70.00 to $55.00 and set a “positive” rating on the stock in a research note on Thursday, August 7th. Wall Street Zen lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Benchmark reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Power Integrations in a research note on Tuesday, September 23rd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Power Integrations in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Power Integrations presently has an average rating of “Moderate Buy” and a consensus target price of $61.67.

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.