US Bancorp DE Sells 3,719 Shares of Power Integrations, Inc. $POWI

US Bancorp DE trimmed its position in Power Integrations, Inc. (NASDAQ:POWI) by 23.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,903 shares of the semiconductor company’s stock after selling 3,719 shares during the period. US Bancorp DE’s holdings in Power Integrations were worth $665,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new stake in Power Integrations during the first quarter valued at $1,452,000. Foresight Group Ltd Liability Partnership bought a new position in Power Integrations in the 1st quarter worth about $11,271,000. SG Americas Securities LLC purchased a new stake in shares of Power Integrations in the 1st quarter valued at about $344,000. GAMMA Investing LLC boosted its position in shares of Power Integrations by 243.2% during the 1st quarter. GAMMA Investing LLC now owns 2,011 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 1,425 shares during the last quarter. Finally, Savvy Advisors Inc. bought a new stake in shares of Power Integrations during the 1st quarter valued at about $630,000.

Insider Activity at Power Integrations

In other news, VP Doug Bailey sold 16,989 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $46.41, for a total value of $788,459.49. Following the transaction, the vice president owned 50,798 shares in the company, valued at approximately $2,357,535.18. This trade represents a 25.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gagan Jain sold 2,036 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $46.05, for a total transaction of $93,757.80. Following the sale, the vice president owned 18,812 shares of the company’s stock, valued at $866,292.60. This represents a 9.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,470 shares of company stock worth $1,697,214. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on POWI. Susquehanna decreased their price objective on shares of Power Integrations from $70.00 to $55.00 and set a “positive” rating on the stock in a research report on Thursday, August 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Power Integrations in a report on Wednesday, October 8th. Wall Street Zen cut shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Power Integrations in a research report on Tuesday, September 23rd. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.67.

Power Integrations Stock Performance

POWI stock opened at $45.48 on Monday. The company has a market capitalization of $2.55 billion, a PE ratio of 78.42, a price-to-earnings-growth ratio of 2.97 and a beta of 1.37. Power Integrations, Inc. has a one year low of $34.55 and a one year high of $69.53. The company’s 50 day moving average price is $43.67 and its two-hundred day moving average price is $48.97.

Power Integrations (NASDAQ:POWI) last released its earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $115.85 million for the quarter, compared to analyst estimates of $115.02 million. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. On average, research analysts predict that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, August 29th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 1.8%. Power Integrations’s dividend payout ratio is currently 144.83%.

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.