Power Integrations, Inc. (NASDAQ:POWI) Increases Dividend to $0.21 Per Share

Power Integrations, Inc. (NASDAQ:POWI) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Friday, November 29th will be given a dividend of 0.21 per share by the semiconductor company on Tuesday, December 31st. This represents a $0.84 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, November 29th. This is an increase from Power Integrations’s previous quarterly dividend of $0.20.

Power Integrations has increased its dividend by an average of 22.4% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Power Integrations has a dividend payout ratio of 44.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Power Integrations to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 70.8%.

Power Integrations Price Performance

NASDAQ:POWI opened at $65.00 on Friday. The stock has a market cap of $3.69 billion, a P/E ratio of 87.17, a PEG ratio of 5.10 and a beta of 1.10. Power Integrations has a one year low of $56.63 and a one year high of $89.68. The company has a fifty day moving average price of $62.30 and a 200 day moving average price of $68.00.

Power Integrations (NASDAQ:POWI) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $106.20 million for the quarter, compared to analyst estimates of $105.02 million. Power Integrations had a net margin of 10.38% and a return on equity of 4.86%. The business’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 EPS. As a group, equities research analysts anticipate that Power Integrations will post 0.59 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Benchmark reissued a “buy” rating and issued a $78.00 price target on shares of Power Integrations in a report on Wednesday, September 11th. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a report on Friday, November 1st. TD Cowen lowered their price target on shares of Power Integrations from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Finally, Northland Securities raised shares of Power Integrations from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Power Integrations has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Insider Transactions at Power Integrations

In other news, VP Sunil Gupta sold 2,127 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $65.90, for a total value of $140,169.30. Following the sale, the vice president now owns 51,899 shares of the company’s stock, valued at approximately $3,420,144.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 2,398 shares of company stock valued at $157,847. 1.50% of the stock is owned by insiders.

Power Integrations Company Profile

Power Integrations, Inc designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company provides a range of alternating current to direct current power conversion products that address power supply ranging from less than one 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, LED lighting, and various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.