Power Integrations CEO Balu Balakrishnan Sells 17,506 Shares (POWI)
Power Integrations (NASDAQ:POWI) CEO Balu Balakrishnan unloaded 17,506 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $56.25, for a total transaction of $984,712.50. Following the completion of the sale, the chief executive officer now directly owns 108,788 shares in the company, valued at approximately $6,119,325. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
POWI has been the subject of a number of recent research reports. 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $48.13.
Shares of Power Integrations (NASDAQ:POWI) traded down 2.39% during mid-day trading on Wednesday, hitting $55.10. The stock had a trading volume of 154,973 shares. Power Integrations has a 52-week low of $27.20 and a 52-week high of $57.24. The stock has a 50-day moving average of $53.6 and a 200-day moving average of $46.1. The company’s market cap is $1.631 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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