Bank of New York Mellon Corp Has $34.24 Million Holdings in Power Integrations, Inc. (NASDAQ:POWI)

Bank of New York Mellon Corp cut its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 21.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 555,000 shares of the semiconductor company's stock after selling 154,792 shares during the period. Bank of New York Mellon Corp owned approximately 0.98% of Power Integrations worth $34,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of POWI. Van ECK Associates Corp lifted its stake in Power Integrations by 55.6% in the 3rd quarter. Van ECK Associates Corp now owns 34,431 shares of the semiconductor company's stock valued at $2,138,000 after buying an additional 12,297 shares in the last quarter. GSA Capital Partners LLP raised 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 valued at $1,669,000 after acquiring an additional 12,847 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Power Integrations by 214.5% in the third 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 in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Power Integrations in the fourth quarter worth approximately $288,000. Finally, UMB Bank n.a. increased its position 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.

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Insider Activity at Power Integrations

In other news, CFO Sandeep Nayyar sold 5,152 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $60.75, for a total transaction of $312,984.00. Following the completion of the sale, the chief financial officer now owns 110,394 shares in the company, valued at $6,706,435.50. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Radu Barsan sold 10,393 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $66.08, for a total transaction of $686,769.44. Following the completion of the sale, the vice president now owns 45,295 shares of the company's stock, valued at $2,993,093.60. This trade represents a 18.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,544 shares of company stock valued at $2,433,105 over the last three months. 1.70% of the stock is owned by corporate insiders.

Power Integrations Price Performance

POWI traded down $3.91 during trading hours on Tuesday, reaching $55.46. The company's stock had a trading volume of 786,362 shares, compared to its average volume of 409,371. The business's 50-day moving average is $61.31 and its 200-day moving average is $62.47. The stock has a market cap of $3.16 billion, a PE ratio of 97.30, a P/E/G ratio of 4.08 and a beta of 1.11. Power Integrations, Inc. has a fifty-two week low of $54.62 and a fifty-two week high of $79.13.

Power Integrations (NASDAQ:POWI - Get Free Report) last issued 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%. Analysts expect that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, February 28th. Power Integrations's payout ratio is 147.37%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on POWI shares. StockNews.com lowered 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 price target on shares of Power Integrations in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.