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

M&T Bank Corp reduced its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 68.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Teacher Retirement System of Texas purchased a new position in Power Integrations in the 1st quarter valued at about $1,452,000. SG Americas Securities LLC acquired a new stake in Power Integrations during the 1st quarter worth approximately $344,000. GAMMA Investing LLC increased its position in Power Integrations by 243.2% during the 1st quarter. GAMMA Investing LLC now owns 2,011 shares of the semiconductor company's stock worth $102,000 after purchasing an additional 1,425 shares in the last quarter. Bank of America Corp DE grew its position in Power Integrations by 18.5% in the fourth quarter. Bank of America Corp DE now owns 401,125 shares of the semiconductor company's stock valued at $24,749,000 after acquiring an additional 62,750 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Power Integrations by 31.9% in the first quarter. Fifth Third Bancorp now owns 2,186 shares of the semiconductor company's stock valued at $110,000 after acquiring an additional 529 shares in the last quarter.

Power Integrations Trading Down 0.6%

NASDAQ POWI traded down $0.35 during trading on Wednesday, reaching $53.70. 616,682 shares of the company's stock were exchanged, compared to its average volume of 480,487. The firm has a market capitalization of $3.02 billion, a PE ratio of 82.62, a P/E/G ratio of 2.22 and a beta of 1.31. The company's fifty day simple moving average is $54.77 and its 200-day simple moving average is $55.66. Power Integrations, Inc. has a fifty-two week low of $40.78 and a fifty-two week high of $78.69.

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

Power Integrations Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors 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 annualized dividend and a yield of 1.56%. Power Integrations's dividend payout ratio (DPR) is currently 129.23%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Stifel Nicolaus increased their target price on Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Benchmark reissued a "buy" rating and set a $70.00 price target on shares of Power Integrations in a report on Wednesday. Finally, Wall Street Zen raised Power Integrations from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Two investment 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $73.33.

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.