PNC Financial Services Group Inc. Buys 231 Shares of Power Integrations, Inc. (NASDAQ:POWI)

PNC Financial Services Group Inc. grew its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,385 shares of the semiconductor company’s stock after acquiring an additional 231 shares during the period. PNC Financial Services Group Inc.’s holdings in Power Integrations were worth $606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Janney Montgomery Scott LLC raised its stake in Power Integrations by 12.8% in the third quarter. Janney Montgomery Scott LLC now owns 2,686 shares of the semiconductor company’s stock worth $205,000 after buying an additional 305 shares in the last quarter. HighTower Advisors LLC raised its stake in Power Integrations by 16.8% in the third quarter. HighTower Advisors LLC now owns 3,617 shares of the semiconductor company’s stock worth $272,000 after buying an additional 519 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Power Integrations in the third quarter worth approximately $389,000. Envestnet Asset Management Inc. raised its stake in Power Integrations by 41.9% in the third quarter. Envestnet Asset Management Inc. now owns 207,066 shares of the semiconductor company’s stock worth $15,801,000 after buying an additional 61,137 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in Power Integrations by 8.1% in the third quarter. Stifel Financial Corp now owns 54,693 shares of the semiconductor company’s stock worth $4,174,000 after buying an additional 4,075 shares in the last quarter.

Insider Activity

In other news, VP Clifford Walker sold 1,096 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $69.04, for a total transaction of $75,667.84. Following the sale, the vice president now directly owns 140,834 shares of the company’s stock, valued at $9,723,179.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Power Integrations news, VP Clifford Walker sold 1,096 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $69.04, for a total value of $75,667.84. Following the sale, the vice president now directly owns 140,834 shares of the company’s stock, valued at $9,723,179.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Balu Balakrishnan sold 9,799 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $68.61, for a total transaction of $672,309.39. Following the completion of the sale, the chief executive officer now directly owns 552,161 shares in the company, valued at $37,883,766.21. The disclosure for this sale can be found here. Insiders have sold 46,094 shares of company stock valued at $3,443,600 over the last ninety days. 1.50% of the stock is currently owned by insiders.

Power Integrations Trading Down 0.1 %

Shares of POWI stock opened at $70.27 on Thursday. The company has a market cap of $3.99 billion, a PE ratio of 76.38, a PEG ratio of 3.92 and a beta of 1.18. Power Integrations, Inc. has a 12-month low of $62.13 and a 12-month high of $99.60. The business’s fifty day simple moving average is $72.78 and its 200-day simple moving average is $74.44.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.08 earnings per share for the quarter. The firm had revenue of $91.69 million for the quarter, compared to analyst estimates of $89.98 million. Power Integrations had a net margin of 12.28% and a return on equity of 6.13%. On average, equities analysts forecast that Power Integrations, Inc. will post 0.73 earnings per share for the current year.

Power Integrations Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Friday, May 31st. Power Integrations’s dividend payout ratio (DPR) is presently 86.96%.

Analyst Upgrades and Downgrades

Separately, Benchmark reaffirmed a “buy” rating and set a $90.00 price target on shares of Power Integrations in a research report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.40.

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.