Power Integrations Inc. (NASDAQ:POWI) declared a quarterly dividend on Thursday, July 28th. Investors of record on Wednesday, August 31st will be given a dividend of 0.13 per share on Friday, September 30th. This represents a $0.52 annualized dividend and a yield of 0.91%.
In related news, CEO Balu Balakrishnan sold 2,353 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $46.38, for a total transaction of $109,132.14. Following the sale, the chief executive officer now owns 205,730 shares in the company, valued at approximately $9,541,757.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Raja Petrakian sold 1,103 shares of the stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $46.81, for a total transaction of $51,631.43. Following the sale, the vice president now owns 20,328 shares in the company, valued at approximately $951,553.68. The disclosure for this sale can be found here.
POWI has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Wednesday, July 20th. Sidoti cut shares of Power Integrations from a “buy” rating to a “neutral” rating in a research report on Thursday, June 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $56.60.
Power Integrations (NASDAQ:POWI) last announced its earnings results on Thursday, July 28th. The company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. During the same period in the prior year, the business posted $0.47 earnings per share. The business had revenue of $97.20 million for the quarter, compared to the consensus estimate of $91.22 million. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities research analysts predict that Power Integrations will post $2.20 EPS for the current year.
Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs) and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
