Power Integrations, Inc. Declares Quarterly Dividend of $0.18 (NASDAQ:POWI)

Power Integrations, Inc. (NASDAQ:POWIGet Rating) announced a quarterly dividend on Thursday, April 28th, Zacks reports. Investors of record on Tuesday, May 31st will be given a dividend of 0.18 per share by the semiconductor company on Thursday, June 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, May 27th.

Power Integrations has raised its dividend by an average of 19.1% annually over the last three years and has raised its dividend every year for the last 8 years. Power Integrations has a payout ratio of 18.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Power Integrations to earn $3.34 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 21.6%.

POWI opened at $80.00 on Friday. Power Integrations has a fifty-two week low of $72.50 and a fifty-two week high of $110.66. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 28.57 and a beta of 0.98. The firm has a 50 day simple moving average of $87.73 and a 200 day simple moving average of $90.76.

Power Integrations (NASDAQ:POWIGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The semiconductor company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.06. The company had revenue of $182.15 million during the quarter, compared to analyst estimates of $180.20 million. Power Integrations had a net margin of 23.38% and a return on equity of 18.97%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. As a group, equities analysts anticipate that Power Integrations will post 3.16 earnings per share for the current fiscal year.

In related news, CFO Sandeep Nayyar sold 1,875 shares of the company’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $91.26, for a total transaction of $171,112.50. Following the sale, the chief financial officer now owns 80,140 shares in the company, valued at $7,313,576.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Balu Balakrishnan sold 2,644 shares of the company’s stock in a transaction dated Wednesday, February 2nd. The stock was sold at an average price of $80.24, for a total value of $212,154.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,758 shares of company stock worth $5,130,929. Corporate insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in POWI. Neo Ivy Capital Management bought a new stake in Power Integrations during the fourth quarter worth about $35,000. Mackenzie Financial Corp increased its position in Power Integrations by 21.0% during the fourth quarter. Mackenzie Financial Corp now owns 4,273 shares of the semiconductor company’s stock worth $397,000 after buying an additional 741 shares during the last quarter. MML Investors Services LLC increased its position in Power Integrations by 24.9% during the fourth quarter. MML Investors Services LLC now owns 6,066 shares of the semiconductor company’s stock worth $563,000 after buying an additional 1,208 shares during the last quarter. Glenmede Trust Co. NA increased its position in Power Integrations by 1.2% during the fourth quarter. Glenmede Trust Co. NA now owns 17,675 shares of the semiconductor company’s stock worth $1,641,000 after buying an additional 218 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY increased its position in Power Integrations by 57.5% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 24,888 shares of the semiconductor company’s stock worth $2,312,000 after buying an additional 9,091 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

POWI has been the topic of several recent analyst reports. Susquehanna Bancshares reiterated a “buy” rating and set a $105.00 target price on shares of Power Integrations in a report on Friday. Susquehanna reiterated a “buy” rating and set a $105.00 target price on shares of Power Integrations in a report on Friday. StockNews.com initiated coverage on Power Integrations in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research lowered Power Integrations from a “buy” rating to a “hold” rating in a report on Tuesday, April 12th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Power Integrations has an average rating of “Buy” and an average target price of $105.17.

Power Integrations Company Profile (Get Rating)

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.

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Dividend History for Power Integrations (NASDAQ:POWI)

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