Revenue Update on Power Integrations Inc(NASDAQ:POWI)

Power Integrations Inc(NASDAQ:POWI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $97.17M. Analysts estimated a revenue of $91.22M. Earnings per share were $0.60. Analysts had estimated an EPS of $0.50.

In a different note, On Jun 23, 2016, Sidoti & Co. said it Downgrades its rating on Power Integrations Inc. The shares have been rated ‘Neutral’ by the firm.

Power Integrations Inc (POWI) made into the market gainers list on Thursdays trading session with the shares advancing 0.07% or 0.04 points. Due to strong positive momentum, the stock ended at $55.41, which is also near the day’s high of $55.74. The stock began the session at $55.39 and the volume stood at 84,010 shares. The 52-week high of the shares is $59.61 and the 52 week low is $36.04. The company has a current market capitalization of $1,601 M and it has 2,88,88,357 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 12, 2016, Doug Bailey (VP Marketing) sold 500 shares at $51.25 per share price.Also, On May 27, 2016, Wolfgang Ademmer (VP, High Power Products) sold 6,191 shares at $49.54 per share price.On May 25, 2016, Radu Barsan (VP of Technology, Engineering) sold 187 shares at $50.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Power Integrations Inc. (Power Integrations) 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. The Company’s AC-DC power conversion products are TinySwitch LinkSwitch Hiper and InnoSwitch families. Its Insulated-gate bipolar transistors (IGBT) drivers products are the SCALE and SCALE-2 product-families. The Company’s High-voltage DC-DC products are DPA-Switch family. The Company’s power supplies are used with various electronic products including mobile phones computers entertainment and networking equipment appliances utility meters industrial controls and light emitting diodes (LED) lights. It sells its products to original equipment manufacturers (OEMs) and merchant power supply manufacturers.

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