US Bancorp DE Decreases Holdings in Power Integrations Inc (NASDAQ:POWI)

US Bancorp DE lowered its position in Power Integrations Inc (NASDAQ:POWI) by 5.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,736 shares of the semiconductor company’s stock after selling 390 shares during the period. US Bancorp DE’s holdings in Power Integrations were worth $471,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Power Integrations by 1.6% during the third quarter. JPMorgan Chase & Co. now owns 82,682 shares of the semiconductor company’s stock worth $5,225,000 after purchasing an additional 1,332 shares during the period. Teachers Advisors LLC lifted its holdings in Power Integrations by 3.4% in the third quarter. Teachers Advisors LLC now owns 56,149 shares of the semiconductor company’s stock valued at $3,549,000 after buying an additional 1,860 shares during the period. Morgan Stanley increased its stake in Power Integrations by 33.0% in the third quarter. Morgan Stanley now owns 112,673 shares of the semiconductor company’s stock valued at $7,122,000 after purchasing an additional 27,982 shares in the last quarter. Bank of Montreal Can increased its stake in Power Integrations by 6.2% in the fourth quarter. Bank of Montreal Can now owns 3,560 shares of the semiconductor company’s stock valued at $217,000 after purchasing an additional 208 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Power Integrations by 20.5% during the fourth quarter. Rhumbline Advisers now owns 83,288 shares of the semiconductor company’s stock worth $5,079,000 after acquiring an additional 14,143 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Power Integrations stock opened at $70.72 on Thursday. Power Integrations Inc has a fifty-two week low of $47.35 and a fifty-two week high of $81.37. The stock has a market cap of $2.10 billion, a P/E ratio of 33.05 and a beta of 1.19.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.19. Power Integrations had a net margin of 15.67% and a return on equity of 10.86%. The business had revenue of $89.19 million for the quarter, compared to analysts’ expectations of $90.10 million. During the same period in the previous year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was down 13.5% compared to the same quarter last year. As a group, analysts predict that Power Integrations Inc will post 1.66 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, May 30th. Power Integrations’s payout ratio is 31.78%.

Several research firms have recently commented on POWI. Zacks Investment Research raised shares of Power Integrations from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Friday, May 3rd. Northland Securities reissued a “hold” rating and set a $52.00 target price on shares of Power Integrations in a research report on Friday, April 26th. BidaskClub raised shares of Power Integrations from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 19th. Finally, Loop Capital boosted their target price on shares of Power Integrations to $78.00 and gave the stock an “in-line” rating in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Power Integrations presently has a consensus rating of “Hold” and an average price target of $70.25.

In related news, CFO Sandeep Nayyar sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $79.94, for a total transaction of $399,700.00. Following the sale, the chief financial officer now directly owns 82,512 shares in the company, valued at approximately $6,596,009.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Radu Barsan sold 1,625 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $70.66, for a total transaction of $114,822.50. Following the sale, the vice president now owns 64,052 shares in the company, valued at $4,525,914.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,286 shares of company stock worth $2,006,147. Corporate insiders own 4.10% of the company’s stock.

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Power Integrations Profile

Power Integrations, Inc designs, develops, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 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, and other consumer and industrial applications, as well as light-emitting diode lighting.

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Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

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