Truist Financial Corp Buys Shares of 2,583 Power Integrations, Inc. (NASDAQ:POWI)

Truist Financial Corp purchased a new position in Power Integrations, Inc. (NASDAQ:POWIFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,583 shares of the semiconductor company’s stock, valued at approximately $212,000.

Several other large investors also recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new stake in Power Integrations in the 4th quarter worth approximately $26,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Power Integrations in the third quarter worth $65,000. Headlands Technologies LLC boosted its holdings in shares of Power Integrations by 374.6% during the 3rd quarter. Headlands Technologies LLC now owns 1,082 shares of the semiconductor company’s stock worth $83,000 after buying an additional 854 shares during the period. Signaturefd LLC grew its stake in Power Integrations by 17.4% in the 3rd quarter. Signaturefd LLC now owns 1,421 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 211 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Power Integrations by 12.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 2,686 shares of the semiconductor company’s stock valued at $205,000 after buying an additional 305 shares during the last quarter.

Insiders Place Their Bets

In other news, CFO Sandeep Nayyar sold 1,946 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $69.04, for a total value of $134,351.84. Following the completion of the transaction, the chief financial officer now owns 95,037 shares in the company, valued at approximately $6,561,354.48. The sale was disclosed in a filing with the SEC, which is available at this link. In other Power Integrations news, VP Clifford Walker sold 1,096 shares of Power Integrations stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $69.04, for a total transaction of $75,667.84. Following the sale, the vice president now directly owns 140,834 shares of the company’s stock, valued at $9,723,179.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Nayyar sold 1,946 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $69.04, for a total value of $134,351.84. Following the completion of the transaction, the chief financial officer now directly owns 95,037 shares of the company’s stock, valued at $6,561,354.48. The disclosure for this sale can be found here. Insiders have sold 39,670 shares of company stock worth $2,910,286 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on POWI shares. Benchmark upped their price target on shares of Power Integrations from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 9th. Northland Securities upgraded Power Integrations from an “under perform” rating to a “market perform” rating and set a $67.00 target price for the company in a research note on Monday, February 26th. StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, TD Cowen increased their price objective on Power Integrations from $65.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, February 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Power Integrations has an average rating of “Moderate Buy” and a consensus price target of $87.40.

Check Out Our Latest Analysis on Power Integrations

Power Integrations Stock Down 0.9 %

Power Integrations stock opened at $77.11 on Wednesday. Power Integrations, Inc. has a 12 month low of $62.13 and a 12 month high of $99.60. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 83.82, a price-to-earnings-growth ratio of 4.22 and a beta of 1.20. The business has a 50 day moving average price of $70.26 and a two-hundred day moving average price of $74.72.

Power Integrations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.80 annualized dividend and a yield of 1.04%. Power Integrations’s dividend payout ratio (DPR) is currently 86.96%.

Power Integrations Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Power Integrations (NASDAQ:POWI)

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