Power Integrations, Inc. (POWI) To Go Ex-Dividend on November 29th
Power Integrations, Inc. (NASDAQ:POWI) announced a quarterly dividend on Thursday, October 26th, Zacks reports. Shareholders of record on Thursday, November 30th will be given a dividend of 0.14 per share by the semiconductor company on Friday, December 29th. This represents a $0.56 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, November 29th.
Shares of Power Integrations (POWI) opened at $81.10 on Friday. Power Integrations has a fifty-two week low of $61.44 and a fifty-two week high of $86.60. The stock has a market capitalization of $2,410.03, a PE ratio of 38.62 and a beta of 1.29.
Power Integrations (NASDAQ:POWI) last issued its earnings results on Thursday, October 26th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.05. Power Integrations had a return on equity of 11.95% and a net margin of 13.69%. The business had revenue of $111.30 million during the quarter, compared to analysts’ expectations of $111.82 million. During the same quarter in the previous year, the business earned $0.67 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. analysts expect that Power Integrations will post 2.06 earnings per share for the current year.
A number of brokerages have recently issued reports on POWI. Zacks Investment Research upgraded Power Integrations from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Wednesday, November 1st. Drexel Hamilton reissued a “buy” rating and set a $84.00 price target on shares of Power Integrations in a research report on Friday, October 27th. Stifel Nicolaus reissued a “buy” rating and set a $85.00 price target on shares of Power Integrations in a research report on Wednesday, October 4th. Finally, BidaskClub lowered Power Integrations from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Power Integrations currently has an average rating of “Buy” and a consensus target price of $83.50.
In other Power Integrations news, VP David Mh Matthews sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $71.22, for a total value of $71,220.00. Following the transaction, the vice president now directly owns 43,405 shares of the company’s stock, valued at approximately $3,091,304.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven Sharp sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.49, for a total value of $794,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 63,534 shares of company stock worth $5,103,863 over the last three months. 4.30% of the stock is currently owned by corporate insiders.
Power Integrations Company Profile
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.
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