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SAN JOSE, CA—Power Integrations Inc. (NASDAQ:POWI) recently reported that Doug Bailey, Vice President of Marketing, sold 1,088 shares of the company’s common stock. The transaction, which took place on April 2, was filed with the Securities and Exchange Commission in a Form 4 report. The sale comes as the stock trades near its 52-week low of $41.19, having declined over 14% in the past week.
Bailey sold the shares at an average price of $50.89, resulting in a total transaction value of $55,364. This sale was an automatic transaction to cover tax liabilities associated with the vesting of a Restricted Stock Award. Following the sale, Bailey retains direct ownership of 84,776 shares in the company, demonstrating continued alignment with shareholders in a company that has maintained dividend payments for 18 consecutive years.
Power Integrations, a leader in semiconductor technologies, continues to be a key player in the industry, with its headquarters located in San Jose, California. The company maintains a strong financial position with a current ratio of 9.29 and more cash than debt on its balance sheet. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro.
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 fell short of the forecasted $119.74 million. The company also reported a non-GAAP EPS of $0.30, missing the expected $0.40. The full-year revenue was $419 million, marking a 6% decline from the previous year. Power Integrations highlighted its strategic focus on GaN technology, which is anticipated to significantly contribute to sales in 2025. CEO Balu Balakrishnan announced his intention to retire, with the board beginning the search for a successor. Additionally, Greg Lowe will join the board, bringing extensive experience in analog and power semiconductors. The company anticipates flat sequential revenue growth for Q1 2025, with potential fluctuations of ±5%. Analysts from firms such as The Benchmark Company and Deutsche Bank (ETR:DBKGn) have shown interest in Power Integrations’ developments in GaN technology and its potential applications in various markets.
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