Power Integrations, Inc. (POWI) to Issue Quarterly Dividend of $0.14 on September 29th
Power Integrations, Inc. (NASDAQ:POWI) declared a quarterly dividend on Friday, July 28th, Zacks reports. Investors of record on Thursday, August 31st will be given a dividend of 0.14 per share by the semiconductor company on Friday, September 29th. This represents a $0.56 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Tuesday, August 29th.
Shares of Power Integrations (NASDAQ:POWI) opened at 70.55 on Monday. The firm’s 50-day moving average price is $73.33 and its 200-day moving average price is $67.88. The stock has a market capitalization of $2.10 billion, a P/E ratio of 39.22 and a beta of 1.23. Power Integrations has a one year low of $56.74 and a one year high of $82.80.
Power Integrations (NASDAQ:POWI) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $107.56 million for the quarter, compared to the consensus estimate of $107.85 million. Power Integrations had a net margin of 13.37% and a return on equity of 12.08%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. Equities research analysts anticipate that Power Integrations will post $2.77 EPS for the current fiscal year.
In other news, VP Doug Bailey sold 4,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $72.93, for a total transaction of $291,720.00. Following the transaction, the vice president now owns 46,976 shares in the company, valued at approximately $3,425,959.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Balu Balakrishnan sold 50,000 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the transaction, the insider now owns 319,576 shares in the company, valued at approximately $23,968,200. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,649 shares of company stock worth $10,210,062. Insiders own 4.30% of the company’s stock.
Several research analysts recently commented on the stock. BidaskClub downgraded shares of Power Integrations from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $82.00 target price (up previously from $75.00) on shares of Power Integrations in a report on Friday, June 30th. Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Saturday, June 24th. Sidoti upgraded shares of Power Integrations from a “neutral” rating to a “buy” rating in a report on Monday, May 15th. Finally, Drexel Hamilton set a $84.00 target price on shares of Power Integrations and gave the stock a “buy” rating in a report on Friday, July 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $78.50.
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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. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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