Comerica Bank Reduces Stock Holdings in Power Integrations, Inc. (NASDAQ:POWI)

Comerica Bank trimmed its position in Power Integrations, Inc. (NASDAQ:POWI) by 6.3% during the 4th quarter, HoldingsChannel reports. The firm owned 22,429 shares of the semiconductor company’s stock after selling 1,496 shares during the period. Comerica Bank’s holdings in Power Integrations were worth $1,384,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of POWI. AQR Capital Management LLC raised its stake in shares of Power Integrations by 138.0% in the fourth quarter. AQR Capital Management LLC now owns 89,814 shares of the semiconductor company’s stock worth $5,542,000 after buying an additional 52,079 shares during the period. Northern Trust Corp increased its stake in Power Integrations by 9.1% in the 4th quarter. Northern Trust Corp now owns 996,040 shares of the semiconductor company’s stock worth $61,456,000 after acquiring an additional 83,186 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in Power Integrations in the 4th quarter worth approximately $51,000. Snyder Capital Management L P increased its position in shares of Power Integrations by 22.3% during the 4th 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 during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of Power Integrations by 3.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 31,114 shares of the semiconductor company’s stock valued at $1,920,000 after purchasing an additional 1,043 shares during the last quarter.

Power Integrations Price Performance

Shares of NASDAQ POWI opened at $54.15 on Monday. The stock has a market capitalization of $3.08 billion, a P/E ratio of 95.00, a price-to-earnings-growth ratio of 4.08 and a beta of 1.31. Power Integrations, Inc. has a 1-year low of $40.78 and a 1-year high of $79.13. The business has a fifty day moving average price of $51.04 and a 200 day moving average price of $58.58.

Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.12). Power Integrations had a return on equity of 4.48% and a net margin of 7.69%. As a group, equities research analysts anticipate that Power Integrations, Inc. will post 0.93 earnings per share for the current fiscal year.

Power Integrations Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.55%. The ex-dividend date was Friday, February 28th. Power Integrations’s dividend payout ratio is currently 147.37%.

Wall Street Analysts Forecast Growth

POWI has been the subject of a number of recent analyst reports. Benchmark restated a “buy” rating and set a $78.00 price objective on shares of Power Integrations in a report on Friday, February 7th. Stifel Nicolaus lowered their target price on Power Integrations from $90.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, StockNews.com cut Power Integrations from a “buy” rating to a “hold” rating in a report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.83.

Insider Activity at Power Integrations

In related news, VP Clifford Walker sold 1,088 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.89, for a total transaction of $55,368.32. Following the transaction, the vice president now directly owns 141,765 shares of the company’s stock, valued at $7,214,420.85. This represents a 0.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Radu Barsan sold 10,393 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $66.08, for a total value of $686,769.44. Following the transaction, the vice president now directly owns 45,295 shares in the company, valued at $2,993,093.60. This represents a 18.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,954 shares of company stock valued at $1,328,862 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

About Power Integrations

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.