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 up at the open Friday and spiked higher in early trade, before settling into a range. Shares finished up by 4.60 at $41.81 on the highest volume of the year. The stock surged past resistance and set a new high for the year.
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