Fifth Third Bancorp Has $1.34 Million Stake in Power Integrations, Inc. $POWI

Fifth Third Bancorp raised its position in shares of Power Integrations, Inc. (NASDAQ:POWI) by 232.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,123 shares of the semiconductor company’s stock after acquiring an additional 18,263 shares during the period. Fifth Third Bancorp’s holdings in Power Integrations were worth $1,337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in POWI. Geneos Wealth Management Inc. increased its stake in shares of 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 purchasing an additional 536 shares during the period. Kestra Advisory Services LLC bought a new stake in Power Integrations during the 4th quarter valued at approximately $36,000. UMB Bank n.a. grew its holdings in Power Integrations by 61.7% in the 4th quarter. UMB Bank n.a. now owns 1,074 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 410 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Power Integrations in the 4th quarter valued at approximately $48,000. Finally, Global X Japan Co. Ltd. increased its position in Power Integrations by 98.0% in the 4th quarter. Global X Japan Co. Ltd. now owns 1,998 shares of the semiconductor company’s stock worth $71,000 after buying an additional 989 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently commented on POWI. Zacks Research lowered Power Integrations from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Benchmark raised their price objective on shares of Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. Needham & Company LLC started coverage on shares of Power Integrations in a research report on Wednesday, June 10th. They set a “buy” rating and a $90.00 target price on the stock. Stifel Nicolaus increased their price target on shares of Power Integrations from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $76.20.

Insider Buying and Selling at Power Integrations

In other Power Integrations news, Director Nicholas Brathwaite sold 1,728 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $86.62, for a total value of $149,679.36. Following the sale, the director owned 22,226 shares in the company, valued at approximately $1,925,216.12. The trade was a 7.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Sunil Gupta sold 6,860 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $83.67, for a total value of $573,976.20. Following the transaction, the vice president directly owned 64,379 shares of the company’s stock, valued at $5,386,590.93. This trade represents a 9.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 334,772 shares of company stock valued at $27,322,535 in the last 90 days. 1.20% of the stock is currently owned by company insiders.

Power Integrations Price Performance

Shares of Power Integrations stock opened at $63.46 on Friday. The firm has a market cap of $3.54 billion, a P/E ratio of 211.54, a P/E/G ratio of 3.63 and a beta of 1.57. Power Integrations, Inc. has a fifty-two week low of $30.86 and a fifty-two week high of $91.18. The firm has a 50 day simple moving average of $76.57 and a 200 day simple moving average of $60.62.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $108.31 million during the quarter, compared to analyst estimates of $106.75 million. Power Integrations had a return on equity of 5.34% and a net margin of 3.72%.The company’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. On average, sell-side analysts expect that Power Integrations, Inc. will post 0.76 EPS for the current year.

Power Integrations Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, May 29th. Power Integrations’s dividend payout ratio is 286.67%.

About Power Integrations

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.