Power Integrations Inc (NASDAQ:POWI) Declares Quarterly Dividend of $0.19

Power Integrations Inc (NASDAQ:POWI) announced a quarterly dividend on Thursday, October 24th, RTT News reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.19 per share by the semiconductor company on Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Wednesday, November 27th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.17.

Shares of POWI opened at $92.78 on Tuesday. Power Integrations has a twelve month low of $55.80 and a twelve month high of $102.38. The firm’s fifty day simple moving average is $91.76 and its 200-day simple moving average is $83.82. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 43.36 and a beta of 1.25.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, October 24th. The semiconductor company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. Power Integrations had a net margin of 14.50% and a return on equity of 9.64%. The business had revenue of $114.16 million for the quarter, compared to analyst estimates of $114.20 million. During the same period last year, the business earned $0.77 EPS. The company’s revenue was up 3.7% on a year-over-year basis. Equities research analysts expect that Power Integrations will post 1.86 EPS for the current year.

Several brokerages recently commented on POWI. Northland Securities reiterated an “underperform” rating and set a $70.00 price target on shares of Power Integrations in a research note on Monday, July 29th. ValuEngine lowered shares of Power Integrations from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Loop Capital upgraded shares of Power Integrations from a “hold” rating to a “buy” rating and lifted their price target for the stock from $83.00 to $102.00 in a research note on Friday, October 25th. Stifel Nicolaus set a $104.00 price target on shares of Power Integrations and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Saturday, October 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $91.20.

In other Power Integrations news, Director Balakrishnan S. Iyer sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $89.00, for a total transaction of $356,000.00. Following the transaction, the director now directly owns 20,240 shares of the company’s stock, valued at approximately $1,801,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David Mh Matthews sold 1,141 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $89.21, for a total transaction of $101,788.61. Following the transaction, the vice president now directly owns 58,198 shares in the company, valued at $5,191,843.58. The disclosure for this sale can be found here. Insiders have sold a total of 94,699 shares of company stock worth $8,768,306 over the last quarter. 4.10% of the stock is owned by company insiders.

About Power Integrations

Power Integrations, Inc designs, develops, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, and other consumer and industrial applications, as well as light-emitting diode lighting.

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Dividend History for Power Integrations (NASDAQ:POWI)

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