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

Power Integrations, Inc. (NASDAQ:POWI) announced a quarterly dividend on Wednesday, November 27th,Zacks Dividends reports. Shareholders 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 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, November 29th. This is a boost from Power Integrations’s previous quarterly dividend of $0.20.

Power Integrations has raised its dividend by an average of 22.4% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Power Integrations has a dividend payout ratio of 54.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Power Integrations to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 93.3%.

Power Integrations Stock Performance

Shares of Power Integrations stock opened at $64.77 on Thursday. The stock has a market capitalization of $3.68 billion, a PE ratio of 98.14, a price-to-earnings-growth ratio of 7.37 and a beta of 1.10. Power Integrations has a 52 week low of $56.63 and a 52 week high of $89.68. The stock has a 50 day moving average price of $63.05 and a two-hundred day moving average price of $67.46.

Power Integrations (NASDAQ:POWI) last released its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The business had revenue of $115.84 million during the quarter, compared to the consensus estimate of $114.83 million. During the same quarter in the previous year, the business earned $0.35 EPS. The company’s quarterly revenue was down 7.7% on a year-over-year basis. Research analysts forecast that Power Integrations will post 0.54 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on POWI shares. Benchmark reissued a “buy” rating and set a $78.00 price objective on shares of Power Integrations in a report on Friday, November 8th. Stifel Nicolaus restated a “buy” rating and issued a $95.00 price objective (down from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. StockNews.com upgraded shares of Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Northland Capmk upgraded shares of Power Integrations from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price 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. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.00.

Insiders Place Their Bets

In other Power Integrations news, VP Doug Bailey sold 8,549 shares of Power Integrations stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $64.96, for a total transaction of $555,343.04. Following the completion of the sale, the vice president now owns 86,375 shares of the company’s stock, valued at $5,610,920. The trade was a 9.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.

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.