Power Integrations, Inc. (POWI) CEO Balu Balakrishnan Sells 51,350 Shares
Power Integrations, Inc. (NASDAQ:POWI) CEO Balu Balakrishnan sold 51,350 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $80.71, for a total value of $4,144,458.50. Following the completion of the transaction, the chief executive officer now directly owns 268,226 shares in the company, valued at $21,648,520.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Power Integrations, Inc. (POWI) traded down $1.60 during trading hours on Tuesday, hitting $80.70. The stock had a trading volume of 107,444 shares, compared to its average volume of 193,235. Power Integrations, Inc. has a one year low of $61.44 and a one year high of $86.60. The firm has a market capitalization of $2,380.00, a price-to-earnings ratio of 38.17 and a beta of 1.28.
Power Integrations (NASDAQ:POWI) last issued its earnings results on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Power Integrations had a return on equity of 11.95% and a net margin of 13.69%. The company had revenue of $111.30 million for the quarter, compared to analyst estimates of $111.82 million. During the same period in the prior year, the firm earned $0.67 earnings per share. Power Integrations’s revenue for the quarter was up 9.5% on a year-over-year basis. sell-side analysts anticipate that Power Integrations, Inc. will post 2.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, November 29th. Power Integrations’s payout ratio is 29.17%.
Several equities analysts have issued reports on the company. Zacks Investment Research raised Power Integrations from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Wednesday, November 1st. Deutsche Bank AG lowered Power Integrations from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Tuesday, July 25th. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 price target on shares of Power Integrations in a research note on Wednesday, October 4th. Drexel Hamilton reaffirmed a “buy” rating and set a $84.00 target price on shares of Power Integrations in a research report on Friday, October 27th. Finally, BidaskClub lowered Power Integrations from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Power Integrations has an average rating of “Buy” and a consensus price target of $83.50.
Large investors have recently modified their holdings of the company. Huntington National Bank raised its position in shares of Power Integrations by 22.8% during the second quarter. Huntington National Bank now owns 1,504 shares of the semiconductor company’s stock worth $110,000 after purchasing an additional 279 shares during the period. Advisor Group Inc. raised its position in Power Integrations by 14.5% in the 2nd quarter. Advisor Group Inc. now owns 1,827 shares of the semiconductor company’s stock valued at $132,000 after buying an additional 231 shares during the last quarter. Riverhead Capital Management LLC raised its position in Power Integrations by 71.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,397 shares of the semiconductor company’s stock valued at $175,000 after buying an additional 997 shares during the last quarter. Turner Investments LLC purchased a new stake in Power Integrations in the 2nd quarter valued at $182,000. Finally, Ameritas Investment Partners Inc. raised its position in Power Integrations by 6.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,519 shares of the semiconductor company’s stock valued at $184,000 after buying an additional 150 shares during the last quarter. 98.01% of the stock is currently owned by institutional investors.
Power Integrations Company Profile
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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