Insider Selling: Balu Balakrishnan Unloads 4,826 Shares of Power Integrations Stock (POWI)
Power Integrations (NASDAQ:POWI) CEO Balu Balakrishnan sold 4,826 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $60.94, for a total transaction of $294,096.44. Following the sale, the chief executive officer now directly owns 103,962 shares of the company’s stock, valued at approximately $6,335,444. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Power Integrations (NASDAQ:POWI) traded down 2.66% on Friday, hitting $60.07. The stock had a trading volume of 270,340 shares. Power Integrations has a one year low of $37.02 and a one year high of $62.67. The stock’s 50-day moving average is $55.9 and its 200-day moving average is $53.92. The company has a market cap of $1.798 billion and a price-to-earnings ratio of 36.30.
Power Integrations (NASDAQ:POWI) last announced its earnings results on Wednesday, October 30th. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.66 by $0.05. The company had revenue of $91.72 million for the quarter, compared to the consensus estimate of $91.77 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Analysts expect that Power Integrations will post $2.41 EPS for the current fiscal year.
POWI has been the subject of a number of recent research reports. Analysts at Raymond James upgraded shares of Power Integrations from a “market perform” rating to an “outperform” rating in a research note to investors on Wednesday. They now have a $66.00 price target on the stock. Separately, analysts at Sidoti downgraded shares of Power Integrations from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, January 16th. Finally, analysts at Stifel Nicolaus raised their price target on shares of Power Integrations from $58.00 to $62.00 in a research note to investors on Friday, November 8th. They now have a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Power Integrations has a consensus rating of “Buy” and an average price target of $56.40.
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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