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Power One’s Steven D. Hogge Buys 40,000 Shares (PWER)

Steven D. Hogge, President of Power Solutions Strategic Business Unit at Power One Inc. (NASDAQ: PWER), this week, bought $161,152 worth of PWER shares.

Hogge bought 40,000 shares of PWER common stock at $4.03 per share.

Power One shares are sharply higher in trading today. At last check, the stock was trading 7.03% higher at $4.18 on volume of 1.16 million. Year-to-date, PWER shares have gained 7.42%.

Based in Camarillo, California, Power One is a designer and manufacturer of inverters for the renewable energy industry.

Power One reported its most recent quarterly results (Q1) earlier this month. PWER reported first-quarter net sales of $226 million. The company’s Renewable Energy Solutions contributed $149 million to total sales. Power Solutions posted sales of $77 for the quarter.

Power One reported first-quarter net income of $5 million, or $0.03 per share, which included a loss, net of tax, of $0.04 per share on foreign currency reimbursement.

Commenting on the first-quarter results, Richard Thompson, CEO of Power-One, said earlier this month that in the first quarter of 2012, PWER was able to exceed its revenue guidance forecast as a result of higher demand for residential and commercial inverters in Europe. Thompson said that the company expects these trends will continue into the second quarter as customers commission PV assets ahead of announced of expected reductions in subsidies.


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All stories in are for informational purposes only. This is NOT a stock recommendation. This story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at . About is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.