Power Integrations Inc. (POWI) VP Doug Bailey Sells 960 Shares of Stock
Power Integrations Inc. (NASDAQ:POWI) VP Doug Bailey sold 960 shares of the business’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $64.13, for a total value of $61,564.80. Following the completion of the transaction, the vice president now directly owns 27,259 shares of the company’s stock, valued at $1,748,119.67. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Doug Bailey also recently made the following trade(s):
- On Monday, September 19th, Doug Bailey sold 460 shares of Power Integrations stock. The stock was sold at an average price of $60.00, for a total value of $27,600.00.
- On Wednesday, September 14th, Doug Bailey sold 500 shares of Power Integrations stock. The shares were sold at an average price of $57.70, for a total value of $28,850.00.
- On Tuesday, August 23rd, Doug Bailey sold 192 shares of Power Integrations stock. The shares were sold at an average price of $58.42, for a total value of $11,216.64.
- On Tuesday, August 9th, Doug Bailey sold 500 shares of Power Integrations stock. The shares were sold at an average price of $55.76, for a total value of $27,880.00.
Shares of Power Integrations Inc. (NASDAQ:POWI) opened at 61.97 on Thursday. The stock has a market cap of $1.79 billion, a P/E ratio of 41.20 and a beta of 1.13. The firm’s 50-day moving average price is $60.53 and its 200 day moving average price is $53.34. Power Integrations Inc. has a 1-year low of $39.53 and a 1-year high of $64.73.
Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.51 by $0.09. Power Integrations had a return on equity of 11.64% and a net margin of 12.36%. The business earned $97.20 million during the quarter, compared to analyst estimates of $91.22 million. During the same period last year, the business posted $0.47 earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis. On average, equities analysts expect that Power Integrations Inc. will post $2.33 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, August 31st were issued a $0.13 dividend. The ex-dividend date was Monday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 0.84%. Power Integrations’s dividend payout ratio (DPR) is presently 34.44%.
Several research analysts recently issued reports on POWI shares. Sidoti lowered Power Integrations from a “buy” rating to a “neutral” rating in a research report on Thursday, June 23rd. Zacks Investment Research raised Power Integrations from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Wednesday, July 20th. Finally, Deutsche Bank AG upped their target price on 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 issued a buy rating to the company. Power Integrations currently has an average rating of “Buy” and a consensus target price of $60.40.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in POWI. BlackRock Inc. raised its position in 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 period. Bank of Montreal Can bought a new position in Power Integrations during the second quarter worth about $175,000. PineBridge Investments L.P. raised its position in 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 period. Teacher Retirement System of Texas raised its position in 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 period. Finally, Globeflex Capital L P bought a new position in Power Integrations during the second quarter worth about $215,000. Hedge funds and other institutional investors own 97.78% 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. 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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