Power Integrations (NASDAQ:POWI) Director Sells $10,743,368.28 in Stock

Key Points

• Power Integrations director Balu Balakrishnan sold 124,287 shares on May 28 for about $10.74 million at an average price of $86.44, reducing his ownership by 30.78%.
• The director has also sold shares earlier in the week, including 118,573 shares on May 26 and 53,880 shares on May 21, indicating a series of large insider sales.
• The stock was down 3.5% to $84.00 in Friday trading after reaching a 52-week high of $89.00, while the company recently beat quarterly EPS estimates and announced a quarterly dividend of $0.215 per share.

Power Integrations, Inc. (NASDAQ:POWI - Get Free Report) Director Balu Balakrishnan sold 124,287 shares of the business's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $86.44, for a total transaction of $10,743,368.28. Following the transaction, the director directly owned 279,516 shares of the company's stock, valued at $24,161,363.04. The trade was a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, May 26th, Balu Balakrishnan sold 118,573 shares of Power Integrations stock. The shares were sold at an average price of $81.72, for a total transaction of $9,689,785.56.
• On Thursday, May 21st, Balu Balakrishnan sold 53,880 shares of Power Integrations stock. The shares were sold at an average price of $70.71, for a total transaction of $3,809,854.80.

Power Integrations Trading Down 3.5%

Power Integrations stock traded down $3.07 during midday trading on Friday, reaching $84.00. 1,898,932 shares of the stock traded hands, compared to its average volume of 1,420,976. Power Integrations, Inc. has a fifty-two week low of $30.86 and a fifty-two week high of $89.00. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 280.01, a PEG ratio of 3.79 and a beta of 1.54. The firm has a fifty day moving average price of $63.79 and a two-hundred day moving average price of $49.05.

Power Integrations (NASDAQ:POWI - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. Power Integrations had a net margin of 3.72% and a return on equity of 5.34%. The company had revenue of $108.31 million for the quarter, compared to the consensus estimate of $106.75 million. During the same period in the previous year, the firm earned $0.31 EPS. Power Integrations's revenue was up 2.6% on a year-over-year basis. Analysts anticipate that Power Integrations, Inc. will post 0.89 earnings per share for the current year.

Power Integrations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, May 29th. Power Integrations's payout ratio is 286.67%.

Wall Street Analyst Weigh In

POWI has been the topic of a number of recent analyst reports. Benchmark boosted their price target on shares of Power Integrations from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, April 6th. Stifel Nicolaus boosted their price target on shares of Power Integrations from $56.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Susquehanna boosted their price target on shares of Power Integrations from $70.00 to $85.00 and gave the stock a "positive" rating in a research report on Friday, May 8th. Zacks Research upgraded shares of Power Integrations from a "strong sell" rating to a "hold" rating in a report on Thursday, February 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Power Integrations in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $64.50.

Institutional Trading of Power Integrations

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its position in shares of Power Integrations by 576.3% in the first quarter. Geneos Wealth Management Inc. now owns 629 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 536 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Power Integrations by 77.6% in the third quarter. Hantz Financial Services Inc. now owns 849 shares of the semiconductor company's stock worth $34,000 after acquiring an additional 371 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Power Integrations in the fourth quarter worth approximately $36,000. UMB Bank n.a. increased its position in shares of Power Integrations by 61.7% in the fourth quarter. UMB Bank n.a. now owns 1,074 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 410 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Power Integrations by 125.5% in the first quarter. EverSource Wealth Advisors LLC now owns 814 shares of the semiconductor company's stock worth $42,000 after acquiring an additional 453 shares in the last quarter.

About Power Integrations

Power Integrations, Inc, based in Hillsboro, Oregon, specializes in the design and development of high-performance analog and mixed-signal integrated circuits for energy-efficient power conversion. The company's products are used to convert and regulate electrical power in a wide range of applications, from consumer electronics and industrial systems to communications equipment and electric vehicle charging. By providing compact, reliable, and highly integrated solutions, Power Integrations aims to reduce system size, improve efficiency, and simplify thermal management for its customers.

The firm's product portfolio encompasses isolated and non-isolated switching controllers for both AC-DC and DC-DC power conversion.

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