Power Integrations (NASDAQ:POWI) Posts Earnings Results, Beats Expectations By $0.03 EPS

Power Integrations (NASDAQ:POWI) issued its quarterly earnings results on Thursday. The semiconductor company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03, RTT News reports. The company had revenue of $114.16 million during the quarter, compared to the consensus estimate of $114.20 million. Power Integrations had a net margin of 14.79% and a return on equity of 9.87%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 EPS.

POWI stock traded up $3.03 during trading on Thursday, reaching $88.76. 213,300 shares of the company were exchanged, compared to its average volume of 152,595. The company has a 50-day moving average of $90.54 and a two-hundred day moving average of $81.34. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 41.48 and a beta of 1.23. Power Integrations has a twelve month low of $47.35 and a twelve month high of $102.38.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.86%. This is a boost from Power Integrations’s previous quarterly dividend of $0.17. Power Integrations’s dividend payout ratio is currently 31.78%.

In other Power Integrations news, VP Ben Sutherland sold 364 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $83.77, for a total value of $30,492.28. Following the completion of the transaction, the vice president now directly owns 41,371 shares in the company, valued at approximately $3,465,648.67. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Balu Balakrishnan sold 400 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $93.00, for a total transaction of $37,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,146 shares of company stock valued at $8,936,493. 4.10% of the stock is owned by corporate insiders.

A number of equities analysts recently issued reports on POWI shares. Stifel Nicolaus set a $97.00 price objective on shares of Power Integrations and gave the stock a “buy” rating in a research report on Friday, July 26th. Deutsche Bank set a $80.00 price objective on shares of Power Integrations and gave the stock a “hold” rating in a research report on Friday, July 26th. Northland Securities reiterated an “underperform” rating and set a $70.00 price objective on shares of Power Integrations in a research report on Monday, July 29th. ValuEngine cut shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Power Integrations from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Saturday, October 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Power Integrations has a consensus rating of “Hold” and a consensus target price of $84.60.

About Power Integrations

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 worldwide. The company offers a range of alternating current to direct current (DC) power conversion products that address power supply ranging from less than 1 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, and other consumer and industrial applications, as well as light-emitting diode lighting.

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Earnings History for Power Integrations (NASDAQ:POWI)

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