Fifth Third Bancorp Sells 256 Shares of Power Integrations, Inc. (NASDAQ:POWI)

Fifth Third Bancorp lowered its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 13.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,657 shares of the semiconductor company’s stock after selling 256 shares during the period. Fifth Third Bancorp’s holdings in Power Integrations were worth $102,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Van ECK Associates Corp increased its position in Power Integrations by 55.6% during the 3rd quarter. Van ECK Associates Corp now owns 34,431 shares of the semiconductor company’s stock worth $2,138,000 after purchasing an additional 12,297 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Power Integrations by 97.5% during the third quarter. GSA Capital Partners LLP now owns 26,028 shares of the semiconductor company’s stock worth $1,669,000 after buying an additional 12,847 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Power Integrations by 214.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,860 shares of the semiconductor company’s stock valued at $2,684,000 after acquiring an additional 28,548 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Power Integrations by 43.9% during the 4th quarter. UMB Bank n.a. now owns 629 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 192 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Power Integrations by 89.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 57,165 shares of the semiconductor company’s stock worth $3,665,000 after acquiring an additional 27,016 shares during the last quarter.

Insiders Place Their Bets

In other news, VP Doug Bailey sold 8,549 shares of Power Integrations stock in a transaction on Monday, November 11th. The shares were sold at an average price of $64.96, for a total value of $555,343.04. Following the completion of the sale, the vice president now owns 86,375 shares in the company, valued at $5,610,920. The trade was a 9.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Clifford Walker sold 10,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $64.36, for a total transaction of $643,600.00. Following the transaction, the vice president now directly owns 130,934 shares in the company, valued at approximately $8,426,912.24. This represents a 7.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,655 shares of company stock worth $1,205,566. 1.70% of the stock is owned by corporate insiders.

Power Integrations Stock Performance

Shares of NASDAQ POWI opened at $62.32 on Friday. The company’s 50 day moving average price is $62.96 and its 200-day moving average price is $63.68. Power Integrations, Inc. has a 52-week low of $56.63 and a 52-week high of $85.00. The company has a market capitalization of $3.54 billion, a P/E ratio of 94.43, a price-to-earnings-growth ratio of 3.86 and a beta of 1.12.

Power Integrations (NASDAQ:POWI) last released its earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Power Integrations had a net margin of 9.27% and a return on equity of 4.14%. The business had revenue of $115.84 million for the quarter, compared to analyst estimates of $114.83 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. Power Integrations’s revenue for the quarter was down 7.7% on a year-over-year basis. Analysts forecast that Power Integrations, Inc. will post 0.54 earnings per share for the current year.

Power Integrations Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.84 annualized dividend and a yield of 1.35%. This is a boost from Power Integrations’s previous quarterly dividend of $0.20. Power Integrations’s dividend payout ratio (DPR) is currently 127.27%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on POWI shares. StockNews.com upgraded Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Benchmark reiterated a “buy” rating and issued a $78.00 price objective on shares of Power Integrations in a report on Friday, November 8th. Finally, Susquehanna reduced their target price on shares of Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Power Integrations Company 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.