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Sandeep Nayyar, the Chief Financial Officer of Power Integrations Inc. (NASDAQ:POWI), has sold shares in the company valued at approximately $98,160. The transaction, which took place on April 2, involved the sale of 1,929 shares of common stock at an average price of $50.89 per share. This sale was conducted to cover the tax liability associated with the vesting of a Restricted Stock Award. Following this transaction, Nayyar’s direct ownership stands at 107,357 shares.The sale comes as POWI trades near its 52-week low of $41.19, with the stock experiencing a significant 14.32% decline over the past week. According to InvestingPro analysis, the company maintains strong financial health with a current ratio of 9.29 and has consistently raised its dividend for 12 consecutive years. InvestingPro subscribers have access to 15 additional exclusive insights about POWI, including detailed valuation metrics and growth forecasts.
In other recent news, Power Integrations reported its Q4 2024 earnings, revealing an 18% year-over-year revenue increase to $105 million, although this was below the forecasted $119.74 million. The company’s non-GAAP EPS was $0.30, missing the expected $0.40. For the full year, revenue was $419 million, marking a 6% decline from the previous year. The company highlighted its leadership in GaN technology, which it expects to drive future growth, particularly in the automotive and industrial sectors. CEO Balu Balakrishnan announced his intention to retire, with a search for his successor underway. Additionally, Greg Lowe, former CEO of Wolfspeed (NYSE:WOLF), has joined the company’s board. Power Integrations also provided guidance for Q1 2025, anticipating flat sequential revenue growth with potential fluctuations of ±5%. The company projects significant growth in the industrial market segment and expects GaN technology to contribute more than 10% of sales in 2025.
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