Power Integrations Inc. (POWI) reported first quarter non-GAAP net income of $0.36 per share after the close Thursday, down from $0.40 per share last year. The consensus estimate was for EPS of $0.27.
Power Integrations gapped open higher Friday and has risen sharply in early trade. Shares are now up 5.78 at $42.99 on above average volume. The stock has surged past resistance and has set a new high for the year.
by RTT Staff Writer
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