M&T Bank Corp Sells 36,481 Shares of Power Integrations, Inc. (NASDAQ:POWI)

M&T Bank Corp lessened its holdings in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 68.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,191 shares of the semiconductor company's stock after selling 36,481 shares during the period. M&T Bank Corp's holdings in Power Integrations were worth $867,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of POWI. Quadrant Capital Group LLC boosted its stake in 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 period. Global X Japan Co. Ltd. purchased a new stake in shares of Power Integrations during the first quarter valued at $42,000. Johnson Financial Group Inc. purchased a new stake in shares of Power Integrations during the fourth quarter valued at $51,000. UMB Bank n.a. boosted its stake 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 valued at $61,000 after purchasing an additional 576 shares during the period. Finally, Covestor Ltd boosted its stake 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 valued at $100,000 after purchasing an additional 234 shares during the period.

Analysts Set New Price Targets

POWI has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Power Integrations from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Benchmark reissued a "buy" rating and set a $70.00 target price on shares of Power Integrations in a research note on Wednesday. Finally, Stifel Nicolaus boosted their target price on shares of Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.33.

Power Integrations Stock Up 0.5%

NASDAQ:POWI traded up $0.26 during mid-day trading on Friday, reaching $54.42. The company's stock had a trading volume of 126,671 shares, compared to its average volume of 478,633. Power Integrations, Inc. has a 1 year low of $40.78 and a 1 year high of $77.32. The stock has a fifty day moving average of $54.81 and a 200-day moving average of $55.61. The firm has a market capitalization of $3.06 billion, a PE ratio of 83.77, a price-to-earnings-growth ratio of 2.20 and a beta of 1.31.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The semiconductor company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.03. The company had revenue of $105.53 million during the quarter, compared to analyst estimates of $105.44 million. Power Integrations had a net margin of 8.56% and a return on equity of 5.12%. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. On average, analysts expect that Power Integrations, Inc. will post 0.93 earnings per share for the current year.

Power Integrations Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 1.54%. Power Integrations's dividend payout ratio is presently 129.23%.

Power Integrations 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.