Power Integrations, Inc. $POWI Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon reduced its Power Integrations stake by 4.7% in the first quarter, selling 22,484 shares and retaining 455,065 shares worth approximately $23.3 million.
• Company insiders sold 334,772 shares worth $27.3 million over the past 90 days, including substantial sales by Vice President Sunil Gupta and Director Balu Balakrishnan.
• Power Integrations exceeded quarterly earnings and revenue estimates, reporting $0.25 EPS and $108.31 million in revenue. Analysts maintain a consensus “Hold” rating with a $76.20 price target, while the company pays a $0.215 quarterly dividend.

Bank of New York Mellon Corp cut its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 455,065 shares of the semiconductor company's stock after selling 22,484 shares during the period. Bank of New York Mellon Corp owned approximately 0.82% of Power Integrations worth $23,299,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in POWI. Geneos Wealth Management Inc. increased its holdings in shares of Power Integrations by 576.3% in the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company's stock valued at $32,000 after buying an additional 536 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Power Integrations in the 4th quarter worth $36,000. UMB Bank n.a. grew its holdings in shares of Power Integrations by 61.7% in the 4th quarter. UMB Bank n.a. now owns 1,074 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 410 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Power Integrations during the fourth quarter worth $48,000. Finally, Covestor Ltd raised its position in shares of Power Integrations by 13.8% during the fourth quarter. Covestor Ltd now owns 2,064 shares of the semiconductor company's stock worth $73,000 after purchasing an additional 251 shares during the period.

Insiders Place Their Bets

In related news, VP Sunil Gupta sold 6,860 shares of Power Integrations stock in a transaction on Friday, May 29th. The shares were sold at an average price of $83.67, for a total value of $573,976.20. Following the completion of the sale, the vice president owned 64,379 shares of the company's stock, valued at approximately $5,386,590.93. The trade was a 9.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Balu Balakrishnan sold 124,287 shares of the company's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $86.44, for a total transaction of $10,743,368.28. Following the completion of the sale, the director owned 279,516 shares of the company's stock, valued at $24,161,363.04. This represents a 30.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 334,772 shares of company stock valued at $27,322,535 over the last ninety days. Corporate insiders own 1.20% of the company's stock.

Power Integrations Price Performance

Shares of NASDAQ POWI opened at $59.20 on Wednesday. The business's 50-day moving average price is $76.30 and its two-hundred day moving average price is $61.08. Power Integrations, Inc. has a one year low of $30.86 and a one year high of $91.18. The company has a market capitalization of $3.30 billion, a P/E ratio of 197.34 and a beta of 1.57.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. The company had revenue of $108.31 million during the quarter, compared to the consensus estimate of $106.75 million. Power Integrations had a return on equity of 5.34% and a net margin of 3.72%.The business's quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. On average, equities analysts anticipate that Power Integrations, Inc. will post 0.76 EPS for the current year.

Power Integrations Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were paid a $0.215 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.86 dividend on an annualized basis and a yield of 1.5%. Power Integrations's payout ratio is 286.67%.

Analyst Ratings Changes

Several analysts have issued reports on POWI shares. Susquehanna boosted their price objective on Power Integrations from $70.00 to $85.00 and gave the stock a "positive" rating in a report on Friday, May 8th. Benchmark increased their target price on Power Integrations from $55.00 to $65.00 and gave the company a "buy" rating in a report on Monday, April 6th. Northland Securities downgraded Power Integrations from an "outperform" rating to a "market perform" rating and set a $46.00 price target on the stock. in a report on Monday, April 6th. Stifel Nicolaus upped their price target on Power Integrations from $82.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Power Integrations in a research note on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $76.20.

About Power Integrations

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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