Insider Selling: Power Integrations VP Unloads 4,000 Shares of Stock (POWI)
Power Integrations (NASDAQ:POWI) VP David Mh Matthews unloaded 4,000 shares of Power Integrations stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $58.42, for a total transaction of $233,680.00. Following the sale, the vice president now directly owns 18,170 shares in the company, valued at approximately $1,061,491. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Power Integrations (NASDAQ:POWI) traded up 0.53% during mid-day trading on Thursday, hitting $58.91. 140,465 shares of the company’s stock traded hands. Power Integrations has a 52-week low of $38.07 and a 52-week high of $68.87. The stock has a 50-day moving average of $55.67 and a 200-day moving average of $57.55. The company has a market cap of $1.773 billion and a price-to-earnings ratio of 29.51.
Power Integrations (NASDAQ:POWI) last announced its earnings results on Tuesday, July 29th. The company reported $0.61 earnings per share for the quarter, beating the analysts’ 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 $2.55 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 0.81%. The ex-dividend date is Wednesday, August 27th. This is an increase from Power Integrations’s previous quarterly dividend of $0.10.
POWI has been the subject of a number of recent research reports. 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 given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $61.08.
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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