Power Integrations (NASDAQ:POWI) Director Sells $3,809,854.80 in Stock

by · The Cerbat Gem

Power Integrations, Inc. (NASDAQ:POWIGet Free Report) Director Balu Balakrishnan sold 53,880 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $70.71, for a total transaction of $3,809,854.80. Following the completion of the sale, the director owned 522,376 shares in the company, valued at approximately $36,937,206.96. This trade represents a 9.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Power Integrations Stock Up 18.7%

POWI stock traded up $13.24 during mid-day trading on Tuesday, hitting $84.09. 3,876,227 shares of the company were exchanged, compared to its average volume of 1,037,983. The firm has a market capitalization of $4.69 billion, a P/E ratio of 280.31, a PEG ratio of 4.31 and a beta of 1.54. The business has a fifty day simple moving average of $60.70 and a 200-day simple moving average of $47.77. Power Integrations, Inc. has a 12-month low of $30.86 and a 12-month high of $84.90.

Power Integrations (NASDAQ:POWIGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Power Integrations had a net margin of 3.72% and a return on equity of 5.34%. The business had revenue of $108.31 million for the quarter, compared to the consensus estimate of $106.75 million. During the same period in the previous year, the firm earned $0.31 EPS. The business’s revenue was up 2.6% on a year-over-year basis. Research analysts predict that Power Integrations, Inc. will post 0.64 EPS for the current year.

Power Integrations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a $0.215 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.0%. Power Integrations’s payout ratio is presently 286.67%.

Institutional Investors Weigh In On Power Integrations

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd lifted its position in shares of Power Integrations by 13.8% during the 4th quarter. Covestor Ltd now owns 2,064 shares of the semiconductor company’s stock worth $73,000 after purchasing an additional 251 shares during the last quarter. Baird Financial Group Inc. increased its holdings in Power Integrations by 5.4% in the first quarter. Baird Financial Group Inc. now owns 5,053 shares of the semiconductor company’s stock valued at $255,000 after buying an additional 261 shares during the last quarter. Cetera Investment Advisers increased its holdings in Power Integrations by 2.7% in the fourth quarter. Cetera Investment Advisers now owns 12,972 shares of the semiconductor company’s stock valued at $461,000 after buying an additional 340 shares during the last quarter. First National Bank of Omaha raised its position in shares of Power Integrations by 0.8% during the 4th quarter. First National Bank of Omaha now owns 46,047 shares of the semiconductor company’s stock worth $1,637,000 after acquiring an additional 366 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in Power Integrations by 77.6% during the third quarter. Hantz Financial Services Inc. now owns 849 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 371 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on POWI. Benchmark increased their target price on Power Integrations from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. Susquehanna boosted their price target on shares of Power Integrations from $70.00 to $85.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Power Integrations in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Power Integrations in a research note on Friday, May 8th. Finally, Stifel Nicolaus upped their target price on shares of Power Integrations from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $64.50.

Read Our Latest Analysis on POWI

Power Integrations Company Profile

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Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company’s products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm’s product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.

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