Insider Selling: Balu Balakrishnan Sells 5,000 Shares of Power Integrations Stock (POWI)
Power Integrations (NASDAQ:POWI) CEO Balu Balakrishnan sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $62.50, for a total transaction of $312,500.00. Following the sale, the chief executive officer now directly owns 142,328 shares of the company’s stock, valued at approximately $8,895,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on POWI shares. 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Power Integrations currently has a consensus rating of “Buy” and a consensus price target of $61.08.
Power Integrations (NASDAQ:POWI) traded up 1.01% on Friday, hitting $59.18. The stock had a trading volume of 229,591 shares. Power Integrations has a 52-week low of $38.07 and a 52-week high of $68.87. The stock’s 50-day moving average is $55.50 and its 200-day moving average is $57.54. The company has a market cap of $1.781 billion and a price-to-earnings ratio of 29.50.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings data 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 in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts predict that Power Integrations will post $2.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Friday, August 29th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Wednesday, August 27th. This is a positive change 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.
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