M&T Bank Corp Buys 728,517 Shares of Power Integrations, Inc. $POWI

M&T Bank Corp boosted its stake in Power Integrations, Inc. (NASDAQ:POWI) by 3,635.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 748,555 shares of the semiconductor company’s stock after acquiring an additional 728,517 shares during the period. M&T Bank Corp’s holdings in Power Integrations were worth $26,604,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its position in Power Integrations by 576.3% in the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 536 shares during the period. Hantz Financial Services Inc. raised its position in Power Integrations by 77.6% in the third quarter. Hantz Financial Services Inc. now owns 849 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 371 shares during the period. Global X Japan Co. Ltd. raised its position in Power Integrations by 98.0% in the fourth quarter. Global X Japan Co. Ltd. now owns 1,998 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 989 shares during the period. Huntington National Bank raised its position in Power Integrations by 42.6% in the third quarter. Huntington National Bank now owns 1,871 shares of the semiconductor company’s stock worth $75,000 after acquiring an additional 559 shares during the period. Finally, Osaic Holdings Inc. raised its position in Power Integrations by 76.2% in the second quarter. Osaic Holdings Inc. now owns 1,721 shares of the semiconductor company’s stock worth $92,000 after acquiring an additional 744 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Power Integrations from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Zacks Research raised shares of Power Integrations from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Benchmark lifted their price objective on shares of Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Power Integrations in a research note on Monday, December 29th. Finally, Northland Securities downgraded shares of Power Integrations from an “outperform” rating to a “market perform” rating and set a $46.00 target price for the company. in a research note on Monday, April 6th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Power Integrations currently has a consensus rating of “Hold” and a consensus price target of $56.50.

Insider Buying and Selling at Power Integrations

In related news, VP Gagan Jain sold 3,481 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $48.22, for a total transaction of $167,853.82. Following the completion of the transaction, the vice president owned 30,769 shares of the company’s stock, valued at approximately $1,483,681.18. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sunil Gupta sold 2,168 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $45.58, for a total transaction of $98,817.44. Following the transaction, the vice president directly owned 95,766 shares of the company’s stock, valued at approximately $4,365,014.28. This represents a 2.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,831 shares of company stock worth $1,936,896 over the last three months. Company insiders own 1.40% of the company’s stock.

Power Integrations Stock Up 6.5%

POWI opened at $71.73 on Thursday. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 183.93, a PEG ratio of 5.11 and a beta of 1.30. The firm has a 50-day moving average price of $50.34 and a 200-day moving average price of $43.41. Power Integrations, Inc. has a twelve month low of $30.86 and a twelve month high of $76.22.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, February 5th. The semiconductor company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. The firm had revenue of $103.20 million during the quarter, compared to the consensus estimate of $103.02 million. Power Integrations had a net margin of 4.98% and a return on equity of 5.15%. The company’s revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. On average, sell-side analysts expect that Power Integrations, Inc. will post 0.64 earnings per share for the current fiscal year.

Power Integrations Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th were paid a $0.215 dividend. The ex-dividend date was Friday, February 27th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.21. This represents a $0.86 annualized dividend and a dividend yield of 1.2%. Power Integrations’s dividend payout ratio is 220.51%.

Power Integrations Company Profile

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.