Power Integrations, Inc. to Issue Quarterly Dividend of $0.20 (NASDAQ:POWI)

Power Integrations, Inc. (NASDAQ:POWI) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Friday, May 31st will be given a dividend of 0.20 per share by the semiconductor company on Friday, June 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, May 31st.

Power Integrations has raised its dividend by an average of 22.4% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Power Integrations has a payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Power Integrations to earn $1.40 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 57.1%.

Power Integrations Price Performance

Power Integrations stock traded up $0.62 during trading hours on Thursday, hitting $77.25. The stock had a trading volume of 149,786 shares, compared to its average volume of 406,008. Power Integrations has a 1-year low of $62.13 and a 1-year high of $99.60. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 79.15 and a beta of 1.20. The stock’s fifty day moving average is $69.58 and its two-hundred day moving average is $74.26.

Power Integrations (NASDAQ:POWI) last posted its earnings results on Thursday, February 8th. The semiconductor company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.09. Power Integrations had a net margin of 12.54% and a return on equity of 6.46%. The firm had revenue of $89.51 million during the quarter, compared to the consensus estimate of $90.21 million. As a group, sell-side analysts anticipate that Power Integrations will post 0.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on POWI. Benchmark boosted their price target on Power Integrations from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Northland Securities raised shares of Power Integrations from an “under perform” rating to a “market perform” rating and set a $67.00 target price for the company in a research note on Monday, February 26th. TD Cowen increased their price objective on shares of Power Integrations from $65.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 9th. Finally, StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.40.

Insider Activity

In related news, CFO Sandeep Nayyar sold 2,812 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $79.99, for a total value of $224,931.88. Following the completion of the sale, the chief financial officer now owns 67,359 shares of the company’s stock, valued at $5,388,046.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Balu Balakrishnan sold 5,232 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $81.02, for a total transaction of $423,896.64. Following the completion of the sale, the chief executive officer now directly owns 508,461 shares of the company’s stock, valued at $41,195,510.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Nayyar sold 2,812 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $79.99, for a total transaction of $224,931.88. Following the completion of the transaction, the chief financial officer now owns 67,359 shares of the company’s stock, valued at $5,388,046.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,106 shares of company stock valued at $3,518,339. 1.50% of the stock is currently owned by company insiders.

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.