Power Integrations Inc. (POWI) reported fourth quarter non-GAAP net income of $0.47 per share after the close Monday, compared to $0.29 per share last year. The consensus estimate was for EPS of $0.42. The company said its board of directors has increased its quarterly dividend by 60 percent for the upcoming year, to eight cents per share.
Power Integrations gapped up Tuesday and rose sharply in early trade. Shares advanced further going into the close and finished with a gain of 5.51 at $43.69 on strong volume. The stock closed challenging the highs of the year, trading at a 9-month high.
by RTT Staff Writer
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