M&T Bank Corp Raises Position in Power Integrations, Inc. (NASDAQ:POWI)

M&T Bank Corp lifted its stake in shares of Power Integrations, Inc. (NASDAQ:POWI) by 28.9% during the fourth quarter, Holdings Channel reports. The fund owned 53,672 shares of the semiconductor company’s stock after acquiring an additional 12,037 shares during the period. M&T Bank Corp’s holdings in Power Integrations were worth $3,312,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in Power Integrations by 110.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 537 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 282 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Power Integrations by 1,618.2% during the 4th quarter. Versant Capital Management Inc now owns 567 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 534 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Power Integrations by 43.9% during the fourth quarter. UMB Bank n.a. now owns 629 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 192 shares in the last quarter. Truvestments Capital LLC purchased a new position in Power Integrations in the third quarter valued at $87,000. Finally, KBC Group NV increased its holdings in Power Integrations by 32.0% in the third quarter. KBC Group NV now owns 1,782 shares of the semiconductor company’s stock valued at $114,000 after buying an additional 432 shares during the last quarter.

Insider Activity at Power Integrations

In other news, CFO Sandeep Nayyar sold 5,152 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $60.75, for a total value of $312,984.00. Following the completion of the sale, the chief financial officer now directly owns 110,394 shares of the company’s stock, valued at approximately $6,706,435.50. This represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Clifford Walker sold 1,131 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $58.01, for a total value of $65,609.31. Following the transaction, the vice president now directly owns 143,718 shares in the company, valued at approximately $8,337,081.18. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,544 shares of company stock worth $2,433,105 in the last 90 days. 1.50% of the stock is owned by insiders.

Power Integrations Stock Performance

Shares of POWI stock opened at $62.78 on Friday. The stock’s 50-day moving average is $61.36 and its two-hundred day moving average is $62.55. Power Integrations, Inc. has a 1 year low of $56.63 and a 1 year high of $79.13. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 110.14, a PEG ratio of 4.08 and a beta of 1.11.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.16 earnings per share (EPS) 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, research analysts predict that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a $0.21 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.84 annualized dividend and a yield of 1.34%. Power Integrations’s dividend payout ratio (DPR) is 147.37%.

Analysts Set New Price Targets

A number of analysts have issued reports on POWI shares. StockNews.com downgraded Power Integrations from a “buy” rating to a “hold” rating in a report on Friday. Benchmark restated a “buy” rating and set a $78.00 target price on shares of Power Integrations in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Power Integrations presently has an average rating of “Moderate Buy” and a consensus price target of $78.00.

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.