Power Integrations Inc. (POWI) VP Ben Sutherland Sells 4,848 Shares
Power Integrations Inc. (NASDAQ:POWI) VP Ben Sutherland sold 4,848 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $62.50, for a total transaction of $303,000.00. Following the transaction, the vice president now directly owns 24,705 shares of the company’s stock, valued at approximately $1,544,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Ben Sutherland also recently made the following trade(s):
- On Friday, July 29th, Ben Sutherland sold 2,216 shares of Power Integrations stock. The shares were sold at an average price of $57.97, for a total transaction of $128,461.52.
Shares of Power Integrations Inc. (NASDAQ:POWI) opened at 63.74 on Thursday. Power Integrations Inc. has a one year low of $39.53 and a one year high of $64.36. The stock has a market cap of $1.84 billion, a PE ratio of 42.38 and a beta of 1.13. The company has a 50-day moving average of $59.75 and a 200 day moving average of $52.85.
Power Integrations (NASDAQ:POWI) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.09. Power Integrations had a net margin of 12.36% and a return on equity of 11.64%. The business had revenue of $97.20 million for the quarter, compared to analyst estimates of $91.22 million. During the same quarter in the prior year, the business posted $0.47 EPS. Power Integrations’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, analysts predict that Power Integrations Inc. will post $2.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 0.82%. Power Integrations’s payout ratio is 34.44%.
A number of hedge funds and other institutional investors have recently modified their holdings of POWI. BlackRock Inc. raised its position in shares of Power Integrations by 125.5% in the first quarter. BlackRock Inc. now owns 2,142 shares of the company’s stock worth $106,000 after buying an additional 1,192 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Power Integrations during the second quarter worth about $175,000. PineBridge Investments L.P. raised its position in shares of Power Integrations by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,653 shares of the company’s stock worth $183,000 after buying an additional 144 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Power Integrations by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,976 shares of the company’s stock worth $199,000 after buying an additional 482 shares during the last quarter. Finally, Globeflex Capital L P bought a new position in shares of Power Integrations during the second quarter worth about $215,000. Institutional investors and hedge funds own 97.78% of the company’s stock.
POWI has been the subject of several analyst reports. Sidoti downgraded shares of Power Integrations from a “buy” rating to a “neutral” rating in a research report on Thursday, June 23rd. Zacks Investment Research raised shares of Power Integrations from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Wednesday, July 20th. Finally, Deutsche Bank AG raised their price target on shares of Power Integrations from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $60.40.
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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