Power Integrations Inc. (POWI) Insider Balu Balakrishnan Sells 10,000 Shares

Power Integrations Inc. (NASDAQ:POWI) insider Balu Balakrishnan sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $55.90, for a total transaction of $559,000.00. Following the completion of the transaction, the insider now directly owns 205,730 shares in the company, valued at approximately $11,500,307. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Balu Balakrishnan also recently made the following trade(s):

• On Monday, July 25th, Balu Balakrishnan sold 5,000 shares of Power Integrations stock. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00.
• On Wednesday, July 20th, Balu Balakrishnan sold 5,000 shares of Power Integrations stock. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00.

Power Integrations Inc. (NASDAQ:POWI) traded up 0.82% during mid-day trading on Thursday, hitting $56.86. 294,758 shares of the company were exchanged. The firm has a 50 day moving average price of $52.49 and a 200 day moving average price of $48.25. Power Integrations Inc. has a 12 month low of $36.04 and a 12 month high of $56.95. The stock has a market cap of $1.64 billion and a price-to-earnings ratio of 40.24.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. During the same quarter in the prior year, the business posted $0.47 EPS. The company had revenue of $97.20 million for the quarter, compared to analysts’ expectations of $91.22 million. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. Analysts anticipate that Power Integrations Inc. will post $2.20 EPS for the current fiscal year.

A hedge fund recently raised its stake in Power Integrations stock. Rhumbline Advisers increased its position in Power Integrations Inc. (NASDAQ:POWI) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,661 shares of the company’s stock after buying an additional 2,085 shares during the period. Rhumbline Advisers owned 0.14% of Power Integrations worth $1,977,000 as of its most recent filing with the SEC.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, August 31st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.91%.

POWI has been the topic of a number of recent research reports. Sidoti lowered shares of Power Integrations from a “buy” rating to a “neutral” rating in a research note on Thursday, June 23rd. Zacks Investment Research upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a research note on Wednesday, April 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Power Integrations has an average rating of “Buy” and an average target price of $56.60.

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.