Power Integrations Adds $50 Million to Stock-Repurchase Program

May 29, 2014

SAN JOSÉ, Calif.--(BUSINESS WIRE)-- Power Integrations (Nasdaq: POWI) today announced that its board of directors has expanded the company’s stock-repurchase program, authorizing the use of an additional $50 million for the repurchase of the company’s common stock. Purchases will continue to be made according to price/volume guidelines set by the board of directors. The action follows a prior authorization of $50 million in October 2012, of which the company has utilized $41 million, repurchasing approximately 1.1 million shares at an average price of about $38 per share. This total includes 415,000 shares repurchased in the current quarter. Power Integrations had $217.7 million in cash and investments as of March 31, 2014.

The expanded repurchase authorization follows a previously announced increase in the company’s quarterly dividend, which will rise to $0.12 per share of common stock beginning in the third quarter of 2014. A dividend of $0.10 per share is to be paid out on June 30, 2014, to stockholders of record as of May 30, 2014.

About Power Integrations

Power Integrations, Inc. is a Silicon Valley-based supplier of high-performance electronic components used in high-voltage power-conversion systems. The company’s integrated circuits and diodes enable compact, energy-efficient AC-DC power supplies for a vast range of electronic products including mobile devices, TVs, PCs, appliances, smart utility meters and LED lights. CONCEPT IGBT drivers enhance the efficiency, reliability and cost of high-power applications such as industrial motor drives, solar and wind energy systems, electric vehicles and high-voltage DC transmission. Since its introduction in 1998, Power Integrations’ EcoSmart® energy-efficiency technology has prevented billions of dollars’ worth of energy waste and millions of tons of carbon emissions. Reflecting the environmental benefits of the company’s products, Power Integrations’ stock is included in the NASDAQ® Clean Edge® Green Energy Index, The Cleantech Index®, and the Ardour Global IndexSM. For more information, including design-support tools and resources, please visit www.powerint.com; visit Power Integrations’ Green Room for a comprehensive guide to energy-efficiency standards around the world.

Power Integrations, EcoSmart and the Power Integrations logo are trademarks or registered trademarks of Power Integrations, Inc. All other trademarks are property of their respective owners.

Source: Power Integrations, Inc.

Power Integrations, Inc.

Joe Shiffler, 408-414-8528

jshiffler@powerint.com

NASDAQ: POWI $119.08 -1.23
-1.02% Volume: 129,556 August 7, 2020

Contact Us

Joe Shiffler
Director, Investor Relations & Corporate Communications
(408) 414-8528
joe@power.com

Literature Requests
ir@power.com

Mailing Address:
Power Integrations
Attn: Investor Relations
5245 Hellyer Avenue San Jose, CA. 95138

Transfer Agent:
Computershare
P.O. Box 30170
College Station, TX 77842
Phone: (781) 575-2879




Subscribe to Investor Alerts

Email Address *
Mailing Lists *



 
Enter the code shown above.