Bank of New York Mellon Corp Makes New $39.08 Million Investment in Power Integrations, Inc. $POWI

Key Points

• Bank of New York Mellon acquired 466,513 shares of Power Integrations, valued at approximately $39.1 million, giving it an estimated 0.84% stake in the semiconductor company.
• Power Integrations reported quarterly EPS of $0.37, beating estimates by $0.05, while revenue rose 2.6% year over year to $118.94 million. Shares opened at $51.51, well below their 50-day average of $66.75.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $72.67, although several firms recently reduced their targets to $80.

Bank of New York Mellon Corp bought a new position in Power Integrations, Inc. (NASDAQ:POWI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 466,513 shares of the semiconductor company's stock, valued at approximately $39,075,000. Bank of New York Mellon Corp owned approximately 0.84% of Power Integrations as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in POWI. Geneos Wealth Management Inc. boosted its stake in Power Integrations by 576.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 536 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of Power Integrations in the second quarter worth $33,000. Kestra Advisory Services LLC bought a new position in shares of Power Integrations during the fourth quarter valued at $36,000. UMB Bank n.a. lifted its holdings in shares of Power Integrations by 61.7% during the fourth quarter. UMB Bank n.a. now owns 1,074 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 410 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Power Integrations by 125.5% during the first quarter. EverSource Wealth Advisors LLC now owns 814 shares of the semiconductor company's stock valued at $42,000 after buying an additional 453 shares during the last quarter.

Power Integrations Stock Performance

Shares of NASDAQ:POWI opened at $51.51 on Friday. The stock's 50-day simple moving average is $66.75 and its two-hundred day simple moving average is $63.31. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 114.47 and a beta of 1.58. Power Integrations, Inc. has a 52-week low of $30.86 and a 52-week high of $91.18.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. Power Integrations had a net margin of 5.58% and a return on equity of 5.50%. The firm had revenue of $118.94 million during the quarter, compared to analyst estimates of $117.44 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities analysts forecast that Power Integrations, Inc. will post 0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

POWI has been the subject of a number of recent analyst reports. Zacks Research lowered Power Integrations from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Stifel Nicolaus reduced their price target on shares of Power Integrations from $95.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Needham & Company LLC decreased their price objective on shares of Power Integrations from $90.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Power Integrations in a research report on Friday, May 8th. Finally, Susquehanna raised their target price on shares of Power Integrations from $70.00 to $85.00 and gave the stock a "positive" rating in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $72.67.

Power Integrations Company Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company's products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm's product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.

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