Power Integrations Inc (NASDAQ:POWI) CEO Balu Balakrishnan sold 9,367 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $93.15, for a total transaction of $872,536.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Power Integrations stock opened at $85.98 on Thursday. The business has a 50-day simple moving average of $82.07. Power Integrations Inc has a twelve month low of $47.35 and a twelve month high of $102.38. The company has a market cap of $2.60 billion, a P/E ratio of 40.18 and a beta of 1.29.
Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, July 25th. The semiconductor company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. Power Integrations had a net margin of 14.79% and a return on equity of 9.87%. The firm had revenue of $102.87 million for the quarter, compared to the consensus estimate of $100.04 million. During the same period in the previous year, the firm posted $0.74 EPS. The business’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, analysts forecast that Power Integrations Inc will post 1.78 earnings per share for the current year.
Several brokerages have commented on POWI. Northland Securities reiterated an “underperform” rating and issued a $70.00 price target on shares of Power Integrations in a research note on Monday, July 29th. Loop Capital reiterated a “hold” rating and issued a $76.00 price target on shares of Power Integrations in a research note on Tuesday, June 18th. Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “strong-buy” rating and set a $105.00 target price on the stock in a report on Wednesday, July 31st. BidaskClub upgraded shares of Power Integrations from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 27th. Finally, Deutsche Bank set a $80.00 target price on shares of Power Integrations and gave the stock a “hold” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Power Integrations currently has a consensus rating of “Buy” and an average target price of $85.60.
Institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in shares of Power Integrations by 13.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 68,391 shares of the semiconductor company’s stock worth $4,783,000 after buying an additional 7,988 shares during the last quarter. Bank of Montreal Can grew its holdings in Power Integrations by 5.0% during the 1st quarter. Bank of Montreal Can now owns 3,739 shares of the semiconductor company’s stock valued at $261,000 after purchasing an additional 179 shares during the last quarter. Amalgamated Bank bought a new position in Power Integrations during the 4th quarter valued at about $273,000. Victory Capital Management Inc. bought a new position in Power Integrations during the 1st quarter valued at about $264,000. Finally, Eqis Capital Management Inc. grew its holdings in Power Integrations by 2.6% during the 2nd quarter. Eqis Capital Management Inc. now owns 5,726 shares of the semiconductor company’s stock valued at $459,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 97.52% 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 worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, and other consumer and industrial applications, as well as light-emitting diode lighting.
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