Power Integrations Trading Down 2.3% After Insider Selling (POWI)
Power Integrations (NASDAQ:POWI)’s share price was down 2.3% during mid-day trading on Wednesday after an insider sold shares in the company, Analyst Ratings News reports. The company traded as low as $57.65 and last traded at $58.15, with a volume of 192,135 shares changing hands. The stock had previously closed at $59.54.
Specifically, VP Doug Bailey sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $59.25, for a total value of $171,825.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on POWI. Analysts at Raymond James reiterated an “outperform” rating on shares of Power Integrations in a research note on Friday, June 6th. They now have a $59.00 price target on the stock, up previously from $55.00. Separately, analysts at Zacks downgraded shares of Power Integrations from a “neutral” rating to an “underperform” rating in a research note on Monday, May 12th. They now have a $47.40 price target on the stock. Finally, analysts at Deutsche Bank upgraded shares of Power Integrations from a “hold” rating to a “buy” rating in a research note on Wednesday, April 30th. They now have a $52.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $55.57.
The stock has a 50-day moving average of $51. and a 200-day moving average of $57.59. The company has a market cap of $1.772 billion and a P/E ratio of 31.24.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.59 by $0.03. The company had revenue of $83.07 million for the quarter, compared to the consensus estimate of $89.53 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts expect that Power Integrations will post $2.41 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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