Northern Trust Corp Purchases 79,036 Shares of Power Integrations, Inc. $POWI

Key Points

• Northern Trust Corp increased its position in Power Integrations, Inc., acquiring 7.9% more shares to own approximately 1.89% of the company worth about $54.29 million.
• Insiders at Power Integrations sold a total of 36,014 shares last quarter, indicating a significant decrease in their ownership, with one executive reducing their stake by 25.06%.
• Power Integrations recently announced a $0.21 quarterly dividend set to be paid on September 30th, reflecting an annual yield of 1.8% and a payout ratio of 144.83%.

Northern Trust Corp increased its position in Power Integrations, Inc. (NASDAQ:POWI - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,075,076 shares of the semiconductor company's stock after buying an additional 79,036 shares during the quarter. Northern Trust Corp owned 1.89% of Power Integrations worth $54,291,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Allworth Financial LP increased its stake in shares of Power Integrations by 257.8% in the first quarter. Allworth Financial LP now owns 594 shares of the semiconductor company's stock worth $30,000 after buying an additional 428 shares during the period. Bayforest Capital Ltd increased its stake in shares of Power Integrations by 54.3% in the first quarter. Bayforest Capital Ltd now owns 631 shares of the semiconductor company's stock worth $32,000 after buying an additional 222 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Power Integrations by 841.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 781 shares of the semiconductor company's stock worth $39,000 after buying an additional 698 shares during the period. Global X Japan Co. Ltd. purchased a new position in shares of Power Integrations in the first quarter worth $42,000. Finally, Larson Financial Group LLC purchased a new position in shares of Power Integrations in the first quarter worth $45,000.

Analyst Ratings Changes

A number of research analysts have issued reports on POWI shares. Benchmark reduced their price objective on shares of Power Integrations from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Stifel Nicolaus boosted their price objective on shares of Power Integrations from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Wall Street Zen downgraded shares of Power Integrations from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Susquehanna reduced their price objective on shares of Power Integrations from $70.00 to $55.00 and set a "positive" rating on the stock in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $61.67.

Insider Transactions at Power Integrations

In related news, VP Gagan Jain sold 2,036 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $46.05, for a total value of $93,757.80. Following the transaction, the vice president owned 18,812 shares in the company, valued at $866,292.60. The trade was a 9.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Doug Bailey sold 16,989 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $46.41, for a total transaction of $788,459.49. Following the completion of the transaction, the vice president owned 50,798 shares in the company, valued at approximately $2,357,535.18. The trade was a 25.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,014 shares of company stock worth $1,678,322. 1.40% of the stock is currently owned by company insiders.

Power Integrations Stock Down 2.7%

Shares of NASDAQ:POWI traded down $1.24 during midday trading on Monday, reaching $45.10. The company's stock had a trading volume of 442,676 shares, compared to its average volume of 664,473. The firm has a 50 day moving average of $51.28 and a 200-day moving average of $52.64. The firm has a market capitalization of $2.53 billion, a P/E ratio of 77.76, a PEG ratio of 2.95 and a beta of 1.38. Power Integrations, Inc. has a 12-month low of $39.53 and a 12-month high of $69.53.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its earnings results on Wednesday, August 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The firm had revenue of $115.85 million for the quarter, compared to the consensus estimate of $115.02 million. Power Integrations had a net margin of 7.59% and a return on equity of 5.86%. The company's revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. On average, research analysts predict that Power Integrations, Inc. will post 0.93 EPS for the current year.

Power Integrations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a $0.21 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a yield of 1.9%. Power Integrations's payout ratio is presently 144.83%.

Power Integrations Profile

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.