Thursday, 18 April 2024

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Power integrations CTO sells over $79k in stock By

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SAN JOSE, CA – Power Integrations Inc. (NASDAQ:), a leading company in the semiconductors and related devices industry, has reported a recent change in stock ownership by one of its top executives. David MH Matthews, the Chief Technical Officer (CTO) of Power Integrations, has executed a sale of company stock that has garnered attention from investors.

According to the latest filings, Matthews sold 1,153 shares of common stock on April 2nd, 2024, at an average price of $69.0412, resulting in a total transaction value of approximately $79,604. This sale was part of an automatic transaction to cover tax liabilities related to the vesting of a Restricted Stock Award, as noted in the footnotes of the filing.

The sale came just a day after Matthews was awarded 9,600 shares of common stock, which increased his total ownership to 69,382 shares. The awarded shares were valued at $0.0, indicating they were likely granted as part of a compensation package or a similar arrangement.

Investors often monitor insider transactions such as these for signals about executives’ confidence in their company’s future performance. While sales to cover tax obligations are common and typically scheduled in advance, they still represent changes in an insider’s investment position.

Power Integrations, based at 5245 Hellyer Ave, San Jose, CA, is known for its innovations in the semiconductor industry, providing integrated circuits for power conversion. The company’s stock performance is closely watched by investors interested in the tech sector, particularly those focused on semiconductor technologies.

David Matthews, as CTO, holds a significant role in guiding the company’s technological advancements and strategic direction. His transactions in Power Integrations stock are thus of interest to shareholders and potential investors alike.

For those following Power Integrations, the company’s stock can be tracked under the ticker symbol NASDAQ:POWI. As with all investments, shareholders and potential investors are encouraged to consider the full range of information available when making investment decisions.

InvestingPro Insights

Power Integrations Inc. (NASDAQ:POWI) has been navigating a challenging market environment, as reflected in their recent financial metrics. With a market capitalization of approximately $3.95 billion and a trailing twelve-month P/E ratio standing at 70.94, the company is trading at a premium relative to earnings. Despite these figures, Power Integrations…

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