Insider Selling: Power Integrations CEO Sells 6,170 Shares of Stock (POWI)
Power Integrations (NASDAQ:POWI) CEO Balu Balakrishnan sold 6,170 shares of Power Integrations stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.78, for a total transaction of $368,842.60. Following the completion of the sale, the chief executive officer now directly owns 136,427 shares in the company, valued at approximately $8,155,606. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Power Integrations (NASDAQ:POWI) traded down 0.45% during mid-day trading on Wednesday, hitting $57.39. The stock had a trading volume of 361,367 shares. Power Integrations has a 52 week low of $37.63 and a 52 week high of $62.67. The stock’s 50-day moving average is $57.2 and its 200-day moving average is $54.59. The company has a market cap of $1.717 billion and a P/E ratio of 33.91.
Power Integrations (NASDAQ:POWI) last announced its earnings results on Monday, February 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $90.40 million for the quarter, compared to the consensus estimate of $89.23 million. During the same quarter last year, the company posted $0.47 earnings per share. Power Integrations’s revenue was up 14.2% compared to the same quarter last year. Analysts expect that Power Integrations will post $2.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of 0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.08.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus raised their price target on shares of Power Integrations from $62.00 to $66.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Power Integrations from $48.00 to $52.00 in a research note to investors on Tuesday. They now have a “hold” rating on the stock. Finally, analysts at Zacks upgraded shares of Power Integrations from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, January 27th. They now have a $62.50 price target on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $58.07.
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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