Power Integrations Inc (POWI) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.60 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $0.50. The company posted revenue of $97.20 million in the period, compared to analysts expectations of $90.98 million. The company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.
Power Integrations Inc opened for trading at $56.26 and hit $56.95 on the upside on Thursday, eventually ending the session at $56.86, with a gain of 0.82% or 0.46 points. The heightened volatility saw the trading volume jump to 2,94,174 shares. Company has a market cap of $1,638 M.
In a different news, on Jul 12, 2016, Doug Bailey (VP Marketing) sold 500 shares at $51.25 per share price. According to the SEC, 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.