In a filing, Power Integrations Inc. revealed its President and CEO BALAKRISHNAN BALU unloaded Company’s shares for reported $0.67 million on Apr 02 ’24. In the deal valued at $68.61 per share,9,799 shares were sold. As a result of this transaction, BALAKRISHNAN BALU now holds 552,161 shares worth roughly $39.57 million.
Then, NAYYAR SANDEEP sold 1,946 shares, generating $134,353 in total proceeds. Upon selling the shares at $69.04, the Chief Financial Officer now owns 95,037 shares.
Before that, Barsan Radu sold 1,687 shares. Power Integrations Inc. shares valued at $116,473 were divested by the VP of Technology, Engineering at a price of $69.04 per share. As a result of the transaction, Barsan Radu now holds 42,782 shares, worth roughly $3.07 million.
Northland Capital upgraded its Power Integrations Inc. [POWI] rating to a Market perform from a an Under perform in a research note published recently. A number of analysts have revised their coverage, including Northland Capital’s analysts, who decreased its forecast for the stock in mid February from “a Market perform” to “an Under perform”. TD Cowen also remained covering POWI and reiterated its “Market perform” recommendation on February 09, 2024. Northland Capital revised its rating on July 17, 2023. It rated POWI as “a Market perform” which previously was an “an Outperform”.
Price Performance Review of POWI
On Tuesday, Power Integrations Inc. [NASDAQ:POWI] saw its stock jump 3.06% to $71.67. Over the last five days, the stock has gained 3.93%. Power Integrations Inc. shares have fallen nearly -12.71% since the year began. Nevertheless, the stocks have fallen -8.42% over the past one year. While a 52-week high of $99.60 was reached on 02/09/24, a 52-week low of $66.90 was recorded on 04/03/24. SMA at 50 days reached $72.61, while 200 days put it at $79.05. A total of 0.25 million shares were traded, compared to the trading of 0.28 million shares in the previous session.
Levels Of Support And Resistance For POWI Stock
The 24-hour chart illustrates a support level at 70.83, which if violated will result in even more drops to 70.00. On the upside, there is a resistance level at 72.12. A further resistance level may holdings at 72.58. The Relative Strength Index (RSI) on the 14-day chart is 52.40, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.06, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.38%. Stochastics %K at 41.47% indicates the stock is a holding.
How much short interest is there in Power Integrations Inc.?
A steep rise in short interest was recorded in Power Integrations Inc. stocks on Mar 28, 2024, growing by 0.19 million shares to a total of 4.12 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 3.93 million shares. There was a rise of 4.61%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 9.76% of the overall stock float, the days-to-cover ratio (short ratio) rose to 10.89.
