Power Integrations Inc. (POWI) VP Sells $61,564.80 in Stock
Power Integrations Inc. (NASDAQ:POWI) VP Doug Bailey sold 960 shares of Power Integrations stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $64.13, for a total value of $61,564.80. Following the sale, the vice president now directly owns 27,259 shares in the company, valued at approximately $1,748,119.67. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Doug Bailey also recently made the following trade(s):
- On Monday, September 19th, Doug Bailey sold 460 shares of Power Integrations stock. The shares were sold at an average price of $60.00, for a total value of $27,600.00.
- On Wednesday, September 14th, Doug Bailey sold 500 shares of Power Integrations stock. The shares were sold at an average price of $57.70, for a total value of $28,850.00.
- On Tuesday, August 23rd, Doug Bailey sold 192 shares of Power Integrations stock. The stock was sold at an average price of $58.42, for a total value of $11,216.64.
- On Tuesday, August 9th, Doug Bailey sold 500 shares of Power Integrations stock. The stock was sold at an average price of $55.76, for a total value of $27,880.00.
Power Integrations Inc. (NASDAQ:POWI) opened at 62.44 on Wednesday. The stock’s 50 day moving average price is $60.42 and its 200 day moving average price is $53.27. The company has a market cap of $1.80 billion, a P/E ratio of 41.52 and a beta of 1.13. Power Integrations Inc. has a 52-week low of $39.53 and a 52-week high of $64.73.
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Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.09. The company had revenue of $97.20 million for the quarter, compared to the consensus estimate of $91.22 million. Power Integrations had a return on equity of 11.64% and a net margin of 12.36%. Power Integrations’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 earnings per share. Analysts expect that Power Integrations Inc. will post $2.33 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 0.83%. Power Integrations’s dividend payout ratio is currently 34.44%.
A number of research firms have issued reports on POWI. Zacks Investment Research downgraded Power Integrations from a “buy” rating to a “hold” rating in a research note on Saturday, July 30th. Deutsche Bank AG lifted their price objective on Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Finally, Sidoti downgraded Power Integrations from a “buy” rating to a “neutral” rating in a research note on Thursday, June 23rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Power Integrations presently has an average rating of “Buy” and an average price target of $60.40.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Power Integrations by 125.5% in the first quarter. BlackRock Inc. now owns 2,142 shares of the company’s stock worth $106,000 after buying an additional 1,192 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Power Integrations during the second quarter worth about $175,000. PineBridge Investments L.P. increased its position in shares of Power Integrations by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,653 shares of the company’s stock worth $183,000 after buying an additional 144 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Power Integrations by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,976 shares of the company’s stock worth $199,000 after buying an additional 482 shares in the last quarter. Finally, Globeflex Capital L P acquired a new position in shares of Power Integrations during the second quarter worth about $215,000. Institutional investors own 97.78% of the company’s stock.
About Power Integrations
Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs) and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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