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

Power Integrations, Inc. (NASDAQ:POWI - Get Free Report) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.21 per share by the semiconductor company on Tuesday, December 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.27%. 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 raised its dividend by an average of 22.4% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Power Integrations has a dividend payout ratio of 44.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.4 %

Power Integrations stock traded up $0.93 during mid-day trading on Friday, reaching $66.31. 535,858 shares of the company's stock were exchanged, compared to its average volume of 408,870. The firm has a market capitalization of $3.77 billion, a PE ratio of 99.68, a P/E/G ratio of 5.34 and a beta of 1.10. The business's fifty day simple moving average is $62.30 and its 200 day simple moving average is $68.00. Power Integrations has a one year low of $56.63 and a one year high of $89.68.

Power Integrations (NASDAQ:POWI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. Power Integrations had a net margin of 9.27% and a return on equity of 4.15%. The business had revenue of $106.20 million during the quarter, compared to the consensus estimate of $105.02 million. During the same quarter last year, the company posted $0.27 earnings per share. The firm's quarterly revenue was down 13.8% compared to the same quarter last year. On average, sell-side analysts forecast that Power Integrations will post 0.59 earnings per share for the current year.

Insider Buying and Selling at Power Integrations

In other news, VP Sunil Gupta sold 2,127 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $65.90, for a total value of $140,169.30. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 2,398 shares of company stock valued at $157,847. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Susquehanna lowered their target price on shares of Power Integrations from $80.00 to $77.00 and set a "positive" rating on the stock in a research note on Thursday. TD Cowen dropped their price objective on shares of Power Integrations from $80.00 to $70.00 and set a "hold" rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Power Integrations from $73.00 to $68.00 and set a "hold" rating on the stock in a research note on Wednesday, August 7th. Benchmark reiterated a "buy" rating and issued a $78.00 price objective on shares of Power Integrations in a report on Friday. Finally, Stifel Nicolaus reiterated a "buy" rating and issued a $95.00 price objective (down previously from $100.00) on shares of Power Integrations in a report on Monday, August 5th. Three research 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $78.00.

About Power Integrations

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.