Power Integrations, Inc. (NASDAQ:POWI) Insider Sells $5,073,900.00 in Stock
Power Integrations, Inc. (NASDAQ:POWI) insider Balu Balakrishnan sold 65,000 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $78.06, for a total value of $5,073,900.00. Following the completion of the sale, the insider now owns 319,576 shares in the company, valued at $24,946,102.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Balu Balakrishnan also recently made the following trade(s):
- On Wednesday, June 28th, Balu Balakrishnan sold 50,000 shares of Power Integrations stock. The stock was sold at an average price of $75.00, for a total value of $3,750,000.00.
- On Tuesday, May 2nd, Balu Balakrishnan sold 1,836 shares of Power Integrations stock. The stock was sold at an average price of $63.68, for a total value of $116,916.48.
Shares of Power Integrations, Inc. (NASDAQ POWI) traded down 0.25% during midday trading on Tuesday, reaching $78.75. The company’s stock had a trading volume of 114,223 shares. The stock has a market capitalization of $2.34 billion, a PE ratio of 45.26 and a beta of 1.23. Power Integrations, Inc. has a 52 week low of $51.01 and a 52 week high of $78.80. The company has a 50 day moving average price of $67.23 and a 200-day moving average price of $66.50.
Power Integrations (NASDAQ:POWI) last released its earnings results on Thursday, April 27th. The semiconductor company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.11. Power Integrations had a return on equity of 12.19% and a net margin of 13.07%. The business had revenue of $104.70 million during the quarter, compared to analysts’ expectations of $102.21 million. During the same period last year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities research analysts expect that Power Integrations, Inc. will post $2.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Friday, May 26th. Power Integrations’s dividend payout ratio (DPR) is 31.29%.
A number of equities research analysts recently commented on POWI shares. Zacks Investment Research upgraded Power Integrations from a “sell” rating to a “hold” rating in a research report on Wednesday, April 5th. Sidoti started coverage on Power Integrations in a research report on Monday, April 17th. They issued a “neutral” rating on the stock. BidaskClub downgraded Power Integrations from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 16th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $82.00 target price (up from $75.00) on shares of Power Integrations in a research report on Friday, June 30th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $74.00.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in POWI. BlackRock Inc. raised its position in Power Integrations by 70,779.1% in the first quarter. BlackRock Inc. now owns 3,457,481 shares of the semiconductor company’s stock worth $227,330,000 after buying an additional 3,452,603 shares during the period. Norges Bank purchased a new stake in Power Integrations during the fourth quarter valued at approximately $19,531,000. Vanguard Group Inc. raised its stake in Power Integrations by 6.4% in the first quarter. Vanguard Group Inc. now owns 2,537,323 shares of the semiconductor company’s stock valued at $166,829,000 after buying an additional 153,103 shares during the last quarter. Pier Capital LLC purchased a new stake in Power Integrations during the first quarter valued at approximately $5,594,000. Finally, OppenheimerFunds Inc. raised its stake in Power Integrations by 30.5% in the first quarter. OppenheimerFunds Inc. now owns 331,386 shares of the semiconductor company’s stock valued at $21,789,000 after buying an additional 77,458 shares during the last quarter. 96.24% of the stock is currently owned by institutional investors and hedge funds.
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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