Power Integrations, Inc. (NASDAQ:POWI) Insider David Mh Matthews Sells 6,000 Shares of Stock

Posted by Defense World Staff on May 24th, 2023

Power Integrations, Inc. (NASDAQ:POWI – Get Rating) insider David Mh Matthews sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $86.61, for a total value of $519,660.00. Following the completion of the transaction, the insider now owns 93,622 shares in the company, valued at $8,108,601.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

David Mh Matthews also recently made the following trade(s):

On Tuesday, April 4th, David Mh Matthews sold 1,550 shares of Power Integrations stock. The shares were sold at an average price of $81.46, for a total value of $126,263.00.
On Monday, February 27th, David Mh Matthews sold 5,964 shares of Power Integrations stock. The stock was sold at an average price of $82.47, for a total value of $491,851.08.

Power Integrations Trading Down 2.4 %

Shares of NASDAQ:POWI opened at $84.75 on Wednesday. The company has a 50 day moving average of $80.03 and a 200-day moving average of $79.62. The firm has a market cap of $4.86 billion, a P/E ratio of 37.17 and a beta of 1.19. Power Integrations, Inc. has a twelve month low of $59.16 and a twelve month high of $91.98.

Power Integrations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, May 31st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.90%. The ex-dividend date is Tuesday, May 30th. Power Integrations’s dividend payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on POWI. Cowen lifted their price target on shares of Power Integrations from $65.00 to $85.00 and gave the company a “market perform” rating in a research report on Tuesday, February 7th. StockNews.com assumed coverage on shares of Power Integrations in a report on Thursday, May 18th. They set a “hold” rating on the stock. Benchmark boosted their price objective on shares of Power Integrations from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Susquehanna boosted their price objective on shares of Power Integrations from $95.00 to $100.00 in a research report on Friday, May 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Power Integrations from $75.00 to $80.00 in a research report on Friday, May 5th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.43.

Institutional Trading of Power Integrations

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Disciplined Growth Investors Inc. MN lifted its position in shares of Power Integrations by 30.7% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,402,973 shares of the semiconductor company’s stock valued at $154,559,000 after acquiring an additional 564,838 shares in the last quarter. Morgan Stanley lifted its position in shares of Power Integrations by 109.7% in the 4th quarter. Morgan Stanley now owns 1,024,483 shares of the semiconductor company’s stock valued at $73,476,000 after acquiring an additional 535,900 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Power Integrations by 23.3% in the 4th quarter. JPMorgan Chase & Co. now owns 2,717,189 shares of the semiconductor company’s stock valued at $194,876,000 after buying an additional 514,149 shares during the period. Norges Bank acquired a new position in Power Integrations in the 4th quarter valued at approximately $35,392,000. Finally, Brown Advisory Inc. increased its stake in Power Integrations by 79.7% in the 3rd quarter. Brown Advisory Inc. now owns 990,374 shares of the semiconductor company’s stock valued at $63,701,000 after buying an additional 439,344 shares during the period. 99.00% of the stock is owned by institutional investors and hedge funds.

About Power Integrations

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Power Integrations, Inc designs and develops mixed-signal integrated circuits and other electronic components and circuitry used in high-voltage power conversion. Its products include AC-DC Conversion, LED Drivers, Gate Drivers, Motor Drivers, and Automotive Solutions. The company was founded by Klas Eklund, Art Fury and Steven J.