Power Integrations, Inc. $POWI Position Boosted by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 232.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,123 shares of the semiconductor company’s stock after acquiring an additional 18,263 shares during the period. Fifth Third Bancorp’s holdings in Power Integrations were worth $1,337,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. UBS Group AG raised its position in shares of Power Integrations by 149.5% during the 4th quarter. UBS Group AG now owns 276,073 shares of the semiconductor company’s stock worth $9,812,000 after buying an additional 165,405 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Power Integrations by 248.4% in the fourth quarter. State of Alaska Department of Revenue now owns 30,924 shares of the semiconductor company’s stock valued at $1,098,000 after acquiring an additional 22,049 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Power Integrations by 108.7% in the fourth quarter. SG Americas Securities LLC now owns 44,351 shares of the semiconductor company’s stock valued at $1,576,000 after acquiring an additional 23,096 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Power Integrations during the fourth quarter valued at approximately $1,072,000. Finally, M&T Bank Corp increased its stake in shares of Power Integrations by 3,635.7% during the fourth quarter. M&T Bank Corp now owns 748,555 shares of the semiconductor company’s stock valued at $26,604,000 after acquiring an additional 728,517 shares during the period.

Insider Buying and Selling

In other Power Integrations news, Director Nicholas Brathwaite sold 1,728 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $86.62, for a total transaction of $149,679.36. Following the transaction, the director directly owned 22,226 shares in the company, valued at $1,925,216.12. This trade represents a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sunil Gupta sold 6,860 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $83.67, for a total value of $573,976.20. Following the completion of the sale, the vice president directly owned 64,379 shares of the company’s stock, valued at $5,386,590.93. This represents a 9.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 334,772 shares of company stock worth $27,322,535. Corporate insiders own 1.20% of the company’s stock.

Power Integrations Stock Performance

Shares of NASDAQ POWI opened at $63.46 on Friday. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 211.54, a PEG ratio of 3.63 and a beta of 1.57. The business has a 50 day simple moving average of $76.57 and a 200 day simple moving average of $60.62. Power Integrations, Inc. has a 52 week low of $30.86 and a 52 week high of $91.18.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Power Integrations had a net margin of 3.72% and a return on equity of 5.34%. The firm had revenue of $108.31 million for the quarter, compared to analyst estimates of $106.75 million. During the same quarter last year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts predict that Power Integrations, Inc. will post 0.76 EPS for the current year.

Power Integrations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were paid a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, May 29th. Power Integrations’s payout ratio is presently 286.67%.

Analyst Upgrades and Downgrades

POWI has been the subject of a number of research reports. Benchmark increased their price target on Power Integrations from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Power Integrations in a research note on Friday, May 8th. Stifel Nicolaus upped their price objective on Power Integrations from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Power Integrations in a research note on Friday, May 8th. Finally, Needham & Company LLC initiated coverage on Power Integrations in a report on Wednesday, June 10th. They set a “buy” rating and a $90.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.20.

Power Integrations Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.