Bank of New York Mellon Corp Has $27.07 Million Stake in Power Integrations, Inc. (NASDAQ:POWI)

Bank of New York Mellon Corp lessened its stake in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 3.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 536,043 shares of the semiconductor company's stock after selling 18,957 shares during the period. Bank of New York Mellon Corp owned about 0.94% of Power Integrations worth $27,070,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of POWI. Norges Bank purchased a new stake in shares of Power Integrations in the fourth quarter valued at $19,663,000. Federated Hermes Inc. lifted its holdings in shares of Power Integrations by 40.0% in the fourth quarter. Federated Hermes Inc. now owns 711,017 shares of the semiconductor company's stock valued at $43,870,000 after purchasing an additional 203,309 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Power Integrations by 10.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,920,459 shares of the semiconductor company's stock valued at $118,492,000 after purchasing an additional 178,896 shares in the last quarter. Snyder Capital Management L P lifted its holdings in shares of Power Integrations by 22.3% in the fourth quarter. Snyder Capital Management L P now owns 882,518 shares of the semiconductor company's stock valued at $54,451,000 after purchasing an additional 160,784 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Power Integrations in the fourth quarter valued at $7,470,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on POWI shares. Stifel Nicolaus increased their target price on Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Wall Street Zen raised shares of Power Integrations from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Finally, Benchmark reaffirmed a "buy" rating and issued a $70.00 price target on shares of Power Integrations in a research note on Wednesday. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $73.33.

Power Integrations Stock Up 0.2%

POWI stock traded up $0.09 during mid-day trading on Friday, reaching $54.25. 350,385 shares of the stock traded hands, compared to its average volume of 481,017. Power Integrations, Inc. has a 52 week low of $40.78 and a 52 week high of $75.57. The business has a 50-day moving average of $54.82 and a two-hundred day moving average of $55.51. The firm has a market capitalization of $3.05 billion, a PE ratio of 83.46, a P/E/G ratio of 2.22 and a beta of 1.31.

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

Power Integrations Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Friday, May 30th. Power Integrations's dividend payout ratio is 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.