Insider Selling: Power Integrations VP Sells 2,900 Shares of Stock (POWI)
Power Integrations (NASDAQ:POWI) VP Doug Bailey unloaded 2,900 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $59.25, for a total value of $171,825.00. Following the sale, the vice president now directly owns 20,350 shares of the company’s stock, valued at approximately $1,205,738. 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 Deutsche Bank raised their price target on shares of Power Integrations from $52.00 to $60.00 in a research note on Wednesday, July 30th. They now have a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of Power Integrations from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 29th. They now have a $54.40 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Power Integrations from $64.00 to $66.00 in a research note on Tuesday, July 1st. They now have a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $61.08.
Shares of Power Integrations (NASDAQ:POWI) traded down 1.06% on Thursday, hitting $58.59. 254,552 shares of the company’s stock traded hands. Power Integrations has a one year low of $38.07 and a one year high of $68.87. The stock’s 50-day moving average is $55.50 and its 200-day moving average is $57.53. The company has a market cap of $1.764 billion and a price-to-earnings ratio of 29.82.
Power Integrations (NASDAQ:POWI) last announced its earnings results on Tuesday, July 29th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The company had revenue of $89.00 million for the quarter, compared to the consensus estimate of $88.92 million. During the same quarter last year, the company posted $0.61 earnings per share. Power Integrations’s revenue was up 1.3% compared to the same quarter last year. Analysts expect that Power Integrations will post $2.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Wednesday, August 27th. This is an increase from Power Integrations’s previous quarterly dividend of $0.10.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.