11,809 Shares in Power Integrations, Inc. $POWI Bought by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. acquired a new position in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,809 shares of the semiconductor company's stock, valued at approximately $660,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in Power Integrations by 257.8% during the 1st quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 428 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Power Integrations by 364.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 622 shares of the semiconductor company's stock valued at $35,000 after buying an additional 488 shares during the period. Geneos Wealth Management Inc. grew its position in Power Integrations by 576.3% during the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company's stock worth $32,000 after buying an additional 536 shares in the last quarter. Bayforest Capital Ltd increased its stake in Power Integrations by 54.3% during the first quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 222 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Power Integrations by 841.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 781 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 698 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Power Integrations from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Susquehanna dropped their price target on shares of Power Integrations from $70.00 to $55.00 and set a "positive" rating for the company in a research report on Thursday, August 7th. Benchmark restated a "buy" rating and set a $55.00 price target on shares of Power Integrations in a research note on Tuesday, September 23rd. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Power Integrations in a report on Saturday. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.67.

Power Integrations Trading Down 1.6%

Shares of POWI stock opened at $43.01 on Friday. The firm's 50 day moving average is $43.41 and its 200-day moving average is $48.97. Power Integrations, Inc. has a 1 year low of $34.55 and a 1 year high of $69.53. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 74.16, a PEG ratio of 2.81 and a beta of 1.37.

Power Integrations (NASDAQ:POWI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Power Integrations had a return on equity of 5.86% and a net margin of 7.59%.The firm had revenue of $115.85 million during the quarter, compared to analysts' expectations of $115.02 million. During the same period in the previous year, the business posted $0.28 EPS. The company's quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 2.0%. Power Integrations's dividend payout ratio (DPR) is currently 144.83%.

Insider Transactions at Power Integrations

In related news, VP Doug Bailey sold 16,989 shares of Power Integrations stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $46.41, for a total value of $788,459.49. Following the sale, the vice president owned 50,798 shares of the company's stock, valued at approximately $2,357,535.18. This trade represents a 25.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gagan Jain sold 2,036 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $46.05, for a total transaction of $93,757.80. Following the sale, the vice president directly owned 18,812 shares in the company, valued at $866,292.60. This trade represents a 9.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,470 shares of company stock worth $1,697,214. Corporate insiders own 1.40% 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.

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