International Rectifier Corp. (NYSE:IRF) CFO Ilan Daskal sold 41,666 shares of the company’s stock on the open market in a transaction that occured on Thursday, August 22nd. The shares were sold at an average price of $24.81, for a total transaction of $1,033,733.46. Following the sale, the chief financial officer now directly owns 28,260 shares of the company’s stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on IRF shares. Analysts at Goldman Sachs Group Inc. reiterated a “sell” rating on shares of International Rectifier Corp. in a research note to investors on Tuesday, August 20th. Separately, analysts at Raymond James raised their price target on shares of International Rectifier Corp. from $26.00 to $29.00 in a research note to investors on Wednesday, August 14th. They now have a “strong-buy” rating on the stock. Finally, analysts at Raymond James upgraded shares of International Rectifier Corp. from a “market perform” rating to a “strong-buy” rating in a research note to investors on Tuesday, July 9th. They now have a $26.00 price target on the stock.
One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $24.33.
Shares of International Rectifier Corp. (NYSE:IRF) traded up 1.66% on Monday, hitting $25.12. The stock had a trading volume of 289,547 shares. International Rectifier Corp. has a one year low of $14.32 and a one year high of $25.96. The stock’s 50-day moving average is $23.96 and its 200-day moving average is $21.66. The company’s market cap is $1.778 billion.
International Rectifier Corp. (NYSE:IRF) last posted its quarterly earnings results on Monday, August 19th. The company reported ($0.02) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.10) by $0.08. The company had revenue of $275.50 million for the quarter, compared to the consensus estimate of $260.13 million. During the same quarter last year, the company posted ($0.20) earnings per share. International Rectifier Corp.’s revenue was up 2.5% compared to the same quarter last year. On average, analysts predict that International Rectifier Corp. will post $0.79 earnings per share for the current fiscal year.
International Rectifier Corporation (NYSE:IRF) designs, manufactures and markets power management semiconductors.
This article (Insider Selling: Ilan Daskal Sells 41,666 Shares of International Rectifier Corp. Stock (IRF)) was originally developed by and is property of American Banking News.
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