Power Integrations Inc (NASDAQ:POWI) VP Radu Barsan sold 4,144 shares of Power Integrations stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $69.00, for a total transaction of $285,936.00. Following the completion of the transaction, the vice president now directly owns 38,067 shares in the company, valued at approximately $2,626,623. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Radu Barsan also recently made the following trade(s):
- On Wednesday, January 31st, Radu Barsan sold 3,643 shares of Power Integrations stock. The stock was sold at an average price of $74.58, for a total transaction of $271,694.94.
Shares of Power Integrations Inc (POWI) traded down $0.80 on Thursday, reaching $67.20. 171,300 shares of the company were exchanged, compared to its average volume of 172,994. Power Integrations Inc has a 52-week low of $60.55 and a 52-week high of $86.60. The stock has a market capitalization of $2,028.75, a P/E ratio of 74.28 and a beta of 1.17.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Wednesday, February 28th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This is a boost from Power Integrations’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 0.95%. Power Integrations’s payout ratio is 71.11%.
Power Integrations announced that its board has initiated a share buyback plan on Thursday, February 1st that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Several brokerages have recently issued reports on POWI. Zacks Investment Research raised shares of Power Integrations from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Wednesday, November 1st. Susquehanna Bancshares assumed coverage on shares of Power Integrations in a research report on Wednesday, December 13th. They issued a “neutral” rating and a $80.00 target price on the stock. They noted that the move was a valuation call. BidaskClub downgraded shares of Power Integrations from a “sell” rating to a “strong sell” rating in a research report on Wednesday, February 7th. Finally, Sidoti downgraded shares of Power Integrations from a “buy” rating to a “neutral” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $81.40.
Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its stake in shares of Power Integrations by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 22,400 shares of the semiconductor company’s stock worth $1,633,000 after buying an additional 1,046 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Power Integrations by 6.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,519 shares of the semiconductor company’s stock valued at $184,000 after purchasing an additional 150 shares during the last quarter. First Trust Advisors LP raised its stake in Power Integrations by 32.7% during the 3rd quarter. First Trust Advisors LP now owns 56,393 shares of the semiconductor company’s stock valued at $4,128,000 after purchasing an additional 13,888 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in Power Integrations during the 3rd quarter valued at $410,000. Finally, Copeland Capital Management LLC raised its stake in Power Integrations by 1.6% during the 3rd quarter. Copeland Capital Management LLC now owns 271,264 shares of the semiconductor company’s stock valued at $19,857,000 after purchasing an additional 4,250 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This story was first published by Ticker Report and is the property of of Ticker Report. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.tickerreport.com/banking-finance/3230839/power-integrations-inc-powi-vp-sells-285936-00-in-stock.html.
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.
Receive News & Ratings for Power Integrations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Power Integrations and related companies with MarketBeat.com's FREE daily email newsletter.