US Bancorp DE Cuts Position in Power Integrations Inc (NASDAQ:POWI)

US Bancorp DE cut its position in shares of Power Integrations Inc (NASDAQ:POWI) by 9.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,611 shares of the semiconductor company’s stock after selling 979 shares during the period. US Bancorp DE’s holdings in Power Integrations were worth $700,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of Power Integrations by 22.7% in the first quarter. Victory Capital Management Inc. now owns 2,210 shares of the semiconductor company’s stock worth $145,000 after buying an additional 409 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Power Integrations during the first quarter valued at about $156,000. PEAK6 Investments L.P. purchased a new stake in Power Integrations during the first quarter valued at about $212,000. State of Alaska Department of Revenue boosted its stake in Power Integrations by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 3,250 shares of the semiconductor company’s stock valued at $213,000 after buying an additional 90 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Power Integrations by 3.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,452 shares of the semiconductor company’s stock valued at $227,000 after buying an additional 118 shares in the last quarter. 95.41% of the stock is currently owned by hedge funds and other institutional investors.

Power Integrations Inc (NASDAQ POWI) traded up 0.93% during midday trading on Monday, hitting $70.80. 21,877 shares of the company’s stock traded hands. The company has a market capitalization of $2.11 billion, a PE ratio of 39.36 and a beta of 1.23. Power Integrations Inc has a 52 week low of $56.03 and a 52 week high of $82.80. The company has a 50 day moving average of $74.21 and a 200-day moving average of $67.90.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The firm had revenue of $107.56 million for the quarter, compared to the consensus estimate of $107.85 million. Power Integrations had a return on equity of 10.35% and a net margin of 12.92%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 EPS. Equities research analysts predict that Power Integrations Inc will post $2.77 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.56 annualized dividend and a yield of 0.80%. Power Integrations’s payout ratio is presently 29.95%.

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Several research firms have issued reports on POWI. Deutsche Bank AG cut shares of Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Tuesday, July 25th. BidaskClub raised shares of Power Integrations from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Drexel Hamilton set a $84.00 price target on shares of Power Integrations and gave the stock a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research cut shares of Power Integrations from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 price target (up from $75.00) on shares of Power Integrations in a research note on Friday, June 30th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Power Integrations presently has a consensus rating of “Buy” and a consensus price target of $78.50.

In other Power Integrations news, insider Balu Balakrishnan sold 65,000 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $78.06, for a total transaction of $5,073,900.00. Following the sale, the insider now owns 319,576 shares in the company, valued at approximately $24,946,102.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP David Mh Matthews sold 776 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $67.04, for a total value of $52,023.04. Following the sale, the vice president now owns 44,405 shares in the company, valued at approximately $2,976,911.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,981 shares of company stock worth $10,093,383. Corporate insiders own 4.30% of the company’s stock.

About Power Integrations

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. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.

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

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