Trust Point Inc. Sells 5,269 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Trust Point Inc. lowered its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 27.1% in the first quarter, Holdings Channel reports. The firm owned 14,205 shares of the semiconductor company’s stock after selling 5,269 shares during the period. Trust Point Inc.’s holdings in Power Integrations were worth $717,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in shares of Power Integrations by 110.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 537 shares of the semiconductor company’s stock worth $33,000 after buying an additional 282 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Power Integrations by 133.2% during the fourth quarter. Quadrant Capital Group LLC now owns 674 shares of the semiconductor company’s stock worth $42,000 after buying an additional 385 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Power Integrations during the fourth quarter worth approximately $51,000. UMB Bank n.a. lifted its holdings in shares of Power Integrations by 91.6% during the first quarter. UMB Bank n.a. now owns 1,205 shares of the semiconductor company’s stock worth $61,000 after buying an additional 576 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Power Integrations by 16.9% during the fourth quarter. Covestor Ltd now owns 1,619 shares of the semiconductor company’s stock worth $100,000 after buying an additional 234 shares during the last quarter.

Power Integrations Trading Up 2.8%

Shares of NASDAQ POWI opened at $56.69 on Tuesday. The business has a fifty day simple moving average of $51.04 and a 200 day simple moving average of $56.72. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 99.46, a PEG ratio of 4.08 and a beta of 1.29. Power Integrations, Inc. has a one year low of $40.78 and a one year high of $79.13.

Power Integrations (NASDAQ:POWI) last issued its earnings results on Monday, May 12th. The semiconductor company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. Power Integrations had a return on equity of 4.48% and a net margin of 7.69%. The business had revenue of $105.53 million during the quarter, compared to analyst estimates of $105.44 million. During the same period in the prior year, the company posted $0.18 earnings per share. Power Integrations’s revenue was up 15.1% on a year-over-year basis. On average, research analysts anticipate that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 1.48%. Power Integrations’s dividend payout ratio is currently 129.23%.

Insiders Place Their Bets

In other Power Integrations news, CFO Sandeep Nayyar sold 1,929 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $50.89, for a total transaction of $98,166.81. Following the completion of the transaction, the chief financial officer now directly owns 107,357 shares in the company, valued at $5,463,397.73. This represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Clifford Walker sold 1,088 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $50.89, for a total value of $55,368.32. Following the transaction, the vice president now owns 141,765 shares of the company’s stock, valued at $7,214,420.85. This represents a 0.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,561 shares of company stock worth $642,092 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

POWI has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price target on Power Integrations from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Wall Street Zen upgraded Power Integrations from a “hold” rating to a “buy” rating in a report on Saturday. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.67.

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.