The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Power Integrations Inc. shares valued at $672,286 were sold by BALAKRISHNAN BALU on Apr 02 ’24. At $68.61 per share, BALAKRISHNAN BALU sold 9,799 shares. The insider’s holdings dropped to 552,161 shares worth approximately $42.31 million following the completion of this transaction.
Also, NAYYAR SANDEEP sold 1,946 shares, netting a total of over 134,353 in proceeds. Following the sale of shares at $69.04 each, the insider now holds 95,037 shares.
Before that, Barsan Radu had sold 1,687 shares from its account. In a trade valued at $116,473, the VP of Technology, Engineering traded Power Integrations Inc. shares for $69.04 each. Upon closing the transaction, the insider’s holdings decreased to 1,687 shares, worth approximately $3.28 million.
As published in a research note from Northland Capital on February 26, 2024, Power Integrations Inc. [POWI] has been rated up from an Under perform to a Market perform and the price target has been revised to $67. Analysts at Northland Capital downgraded the stock from ‘”a Market perform”‘ to ‘”an Under perform”‘ outlook in a report released in mid February. As of February 09, 2024, TD Cowen has reiterated its “Market perform” rating for POWI. Earlier on July 17, 2023, Northland Capital downgraded its rating. Their new recommendation was “a Market perform” for POWI stock which previously was a “an Outperform”.
Analyzing POWI Stock Performance
During the last five days, there has been a surge of approximately 16.55%. Over the course of the year, Power Integrations Inc. shares have dropped approximately -6.67%. Shares of the company reached a 52-week high of $85.00 on 02/09/24 and a 52-week low of $62.13 on 04/19/24. A 50-day SMA is recorded $69.56, while a 200-day SMA reached $76.36. Nevertheless, trading volume fell to 1.11 million shares from 0.33 million shares the previous day.
Support And Resistance Levels for Power Integrations Inc. (POWI)
According to the 24-hour chart, there is a support level at 73.30, which, if violated, would cause prices to drop to 69.97. In the upper region, resistance lies at 78.46. The next price resistance is at 80.29. RSI (Relative Strength Index) is 70.94 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.64, which suggests the price will increase in the coming days. Percent R is at 2.22%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
