Power Integrations, Inc. (NASDAQ:POWI) Stock Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in Power Integrations, Inc. (NASDAQ:POWI) by 21.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 555,000 shares of the semiconductor company’s stock after selling 154,792 shares during the quarter. Bank of New York Mellon Corp owned about 0.98% of Power Integrations worth $34,244,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its position in Power Integrations by 1.1% in the 3rd quarter. State Street Corp now owns 2,540,328 shares of the semiconductor company’s stock valued at $162,886,000 after purchasing an additional 27,488 shares during the last quarter. Wellington Management Group LLP lifted its position in Power Integrations by 25.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,340,328 shares of the semiconductor company’s stock valued at $150,062,000 after purchasing an additional 476,986 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Power Integrations by 4.0% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,111,663 shares of the semiconductor company’s stock valued at $135,400,000 after purchasing an additional 80,761 shares during the last quarter. Geode Capital Management LLC lifted its position in Power Integrations by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,575,437 shares of the semiconductor company’s stock valued at $101,033,000 after purchasing an additional 63,150 shares during the last quarter. Finally, Copeland Capital Management LLC lifted its position in Power Integrations by 1.2% in the 4th quarter. Copeland Capital Management LLC now owns 1,221,651 shares of the semiconductor company’s stock valued at $75,376,000 after purchasing an additional 14,530 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have commented on POWI. Benchmark restated a “buy” rating and set a $78.00 price target on shares of Power Integrations in a research report on Friday, February 7th. StockNews.com downgraded shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Power Integrations currently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Power Integrations Trading Up 5.2 %

POWI stock opened at $62.78 on Friday. The firm’s 50-day moving average is $61.37 and its two-hundred day moving average is $62.58. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 110.14, a price-to-earnings-growth ratio of 4.08 and a beta of 1.11. Power Integrations, Inc. has a 52 week low of $56.63 and a 52 week high of $79.13.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.12). Power Integrations had a return on equity of 4.48% and a net margin of 7.69%. On average, equities research analysts predict that Power Integrations, Inc. will post 0.93 earnings per share for the current year.

Power Integrations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.34%. Power Integrations’s dividend payout ratio is currently 147.37%.

Insider Transactions at Power Integrations

In other news, VP Clifford Walker sold 2,472 shares of Power Integrations stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $60.75, for a total value of $150,174.00. Following the transaction, the vice president now directly owns 142,145 shares of the company’s stock, valued at $8,635,308.75. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Balu Balakrishnan sold 12,507 shares of Power Integrations stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $60.64, for a total transaction of $758,424.48. Following the completion of the transaction, the chief executive officer now directly owns 600,002 shares in the company, valued at approximately $36,384,121.28. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,544 shares of company stock valued at $2,433,105 in the last quarter. Insiders own 1.50% of the company’s stock.

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.