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Balakrishnan Balu, President and CEO of Power Integrations Inc. (NASDAQ:POWI), recently sold 9,544 shares of the company’s common stock. The shares were sold at an average price of $51.1867, bringing the total transaction value to approximately $488,525.
This sale was executed to cover the tax liability associated with the vesting of a Restricted Stock Award, as indicated in the filing. Following this transaction, Balu retains direct ownership of 590,580 shares, held indirectly by a trust. InvestingPro subscribers have access to 15 additional key insights about POWI, including detailed analysis of its valuation metrics and growth prospects.
In other recent news, Power Integrations Inc. reported its Q4 2024 earnings, revealing an 18% increase in revenue year-over-year to $105 million, although this figure did not meet the forecasted $119.74 million. The company’s non-GAAP EPS was $0.30, falling short of the expected $0.40. The full-year revenue was reported at $419 million, marking a 6% decline from the previous year, largely due to challenges in the broader market. Despite these shortfalls, Power Integrations emphasized its strategic focus on GaN technology, which is anticipated to drive significant growth in the future. The company projects that GaN technology will contribute more than 10% of sales in 2025. Additionally, CEO Balu Balakrishnan announced his intention to retire, with the board initiating a search for his successor. In terms of governance, Greg Lowe, former CEO of Wolfspeed (NYSE:WOLF), will join the board, bringing extensive experience in analog and power semiconductors. These developments highlight Power Integrations’ ongoing efforts to position itself for future growth in various market segments.
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