Power Integrations (NASDAQ:POWI) Shares Gap Up After Dividend Announcement

Power Integrations, Inc. (NASDAQ:POWIGet Free Report)’s share price gapped up before the market opened on Friday after the company announced a dividend. The stock had previously closed at $78.29, but opened at $84.83. Power Integrations shares last traded at $83.31, with a volume of 127,876 shares.

The newly announced dividend which will be paid on Friday, March 29th. Shareholders of record on Thursday, February 29th will be given a $0.20 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.80 annualized dividend and a yield of 0.98%. Power Integrations’s dividend payout ratio is presently 82.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on POWI shares. Stifel Nicolaus increased their target price on Power Integrations from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. TD Cowen increased their target price on Power Integrations from $65.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday. Susquehanna increased their target price on Power Integrations from $80.00 to $100.00 and gave the company a “positive” rating in a research report on Monday, December 18th. Benchmark increased their target price on Power Integrations from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday. Finally, StockNews.com raised Power Integrations from a “sell” rating to a “hold” rating in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.67.

View Our Latest Report on POWI

Power Integrations Stock Up 4.2 %

The company has a market cap of $4.64 billion, a price-to-earnings ratio of 84.06 and a beta of 1.25. The firm has a 50 day moving average price of $79.50 and a two-hundred day moving average price of $79.03.

Insiders Place Their Bets

In other news, insider David Mh Matthews sold 5,475 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $76.14, for a total value of $416,866.50. Following the transaction, the insider now owns 69,194 shares in the company, valued at $5,268,431.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider David Mh Matthews sold 5,475 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $76.14, for a total value of $416,866.50. Following the transaction, the insider now owns 69,194 shares in the company, valued at $5,268,431.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Doug Bailey sold 3,273 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $78.43, for a total value of $256,701.39. Following the completion of the transaction, the vice president now owns 100,896 shares in the company, valued at approximately $7,913,273.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,121 shares of company stock worth $6,698,577. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Power Integrations

Hedge funds have recently bought and sold shares of the business. Belpointe Asset Management LLC lifted its holdings in Power Integrations by 59.8% during the first quarter. Belpointe Asset Management LLC now owns 342 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 128 shares during the period. GAMMA Investing LLC bought a new position in Power Integrations in the 4th quarter worth about $26,000. SRS Capital Advisors Inc. boosted its holdings in shares of Power Integrations by 369.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 408 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 321 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Power Integrations in the 3rd quarter worth about $65,000. Finally, Covestor Ltd boosted its holdings in shares of Power Integrations by 179.3% in the 1st quarter. Covestor Ltd now owns 863 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 554 shares in the last quarter.

About Power Integrations

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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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