Power Integrations CEO Balu Balakrishnan Sells 2,889 Shares (POWI)
Power Integrations (NASDAQ:POWI) CEO Balu Balakrishnan sold 2,889 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $56.29, for a total transaction of $162,621.81. Following the transaction, the chief executive officer now directly owns 108,788 shares of the company’s stock, valued at approximately $6,123,677. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on POWI shares. Analysts at Stifel Nicolaus raised their price target on shares of Power Integrations (NASDAQ:POWI) from $54.00 to $58.00 in a research note to investors on Thursday, August 1st. They now have a “buy” rating on the stock. Separately, analysts at Needham & Company raised their price target on shares of Power Integrations (NASDAQ:POWI) from $53.00 to $57.00 in a research note to investors on Thursday, August 1st. They now have a “buy” rating on the stock. Finally, analysts at TheStreet upgraded shares of Power Integrations (NASDAQ:POWI) from a “hold” rating to a “buy” rating in a research note to investors on Friday, July 19th.
Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $48.13.
Power Integrations (NASDAQ:POWI) traded up 1.47% on Tuesday, hitting $56.45. 146,760 shares of the company’s stock traded hands. Power Integrations has a 52-week low of $27.20 and a 52-week high of $57.24. The stock’s 50-day moving average is $53.61 and its 200-day moving average is $46.10. The company’s market cap is $1.671 billion.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.61 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.60 by $0.01. The company had revenue of $87.90 million for the quarter, compared to the consensus estimate of $87.46 million. During the same quarter last year, the company posted $0.49 earnings per share. Power Integrations’s revenue was up 15.2% compared to the same quarter last year. Analysts expect that Power Integrations will post $2.36 EPS for the current fiscal year.
Power Integrations, Inc, (NASDAQ:POWI) designs, develops, manufactures and markets high-voltage, analog and mixed-signal integrated-circuit (IC) products and high-voltage silicon diodes.
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