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    Power Integrations Inc (POWI)

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    Power Integrations, Inc. (POWI) designs, develops, and markets analog and mixed-signal integrated circuits (ICs) and other electronic components used in high-voltage power conversion. Their products are primarily utilized in power converters that transform electricity from a high-voltage source to the type of power required for downstream applications. This conversion typically involves functions such as converting alternating current (AC) to direct current (DC) or vice versa, adjusting voltage levels, and regulating output voltage and/or current according to customer specifications.

    1. AC-DC Power Supply ICs - Convert high-voltage AC from wall outlets to low-voltage DC required by electronic devices. Applications include appliances, industrial controls, mobile devices, electronic utility meters, battery-powered tools, and home automation or IoT devices.

    2. High-Voltage Gate Drivers - Operate high-voltage switches such as insulated-gate bipolar transistors (IGBTs) and silicon-carbide (SiC) MOSFETs. Applications include industrial motors, solar and wind power systems, electric locomotives, electric vehicles, and high-voltage DC transmission systems.

    3. Motor-Driver ICs - Used for brushless DC (BLDC) motors in consumer appliances, HVAC systems, ceiling fans, and industrial applications.

    4. High-Voltage LED Drivers - Specifically designed for lighting applications utilizing light-emitting diodes (LEDs).

    Revenue by Geography - in Millions of USDFY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Americas1.828.6765.015.2815.515.0920.895.717
    - United States--------
    EMEA10.6350.86012.211.00511.5110.244.9111.291
    - Germany3.7323.0415.895.0595.325.7822.056.116
    - Other EMEA6.927.8196.315.9466.194.4222.875.175
    APAC81.19385.00274.0295.87198.8284.46353.1788.521
    - Hong Kong/China50.1265.93649.6863.12465.4360.25238.4856.488
    - India6.8334.5585.386.4008.577.4727.825.327
    - Korea7.5524.9569.528.9339.769.5837.7912.269
    - Taiwan4.3215.7744.765.2947.474.6822.207.002
    - Japan--------
    - Other APAC21.7343.7782.686.1617.59-2.3714.067.435
    Total Revenue89.53444.53891.69106.198115.84105.24418.97105.529
    KPIs - Metric (Unit, Scale)FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Headcount in R&D (employees)-282299305319-311294
    Headcount in S&M (employees)-317322328325-330330
    Headcount in G&A (employees)-7974---8483
    NamePositionExternal RolesShort Bio

    Balu Balakrishnan

    ExecutiveBoard

    Executive Chairman

    Balu Balakrishnan has been a key leader at POWI; he served as CEO from January 2002 and was appointed Chairman in May 2023, and now serves as Executive Chairman, bringing over 45 years of experience and over 200 U.S. patents to the company.

    Clifford Walker

    Executive

    Vice President of Corporate Development

    Clifford Walker is the Vice President of Corporate Development at Power Integrations, having served since June 1995. He brings over three decades of experience in corporate development, including previous roles as Vice President at Reach Software Corporation and President at Morgan Walker International.

    Douglas Bailey

    Executive

    Vice President of Marketing

    Douglas Bailey is the Vice President of Marketing at POWI since November 2004. He signed an Amended and Restated Executive Officer Benefits Agreement on January 28, 2025.

    Gagan Jain

    Executive

    Vice President, Worldwide Sales

    Gagan Jain leads global sales at POWI as Vice President, Worldwide Sales since September 2024, and has previously contributed to POWI's operations in Japan and the Americas.

    Radu Barsan

    Executive

    Vice President of Technology

    Radu Barsan has over 48 years of experience in semiconductor and photonic components development, and he has been serving as Vice President of Technology at Power Integrations since January 2013. Previously, he held key roles including Chairman and CEO at Redfern Integrated Optics, Inc, contributing significantly to the laser and photonics industry.

    Sandeep Nayyar

    Executive

    Vice President, Finance and Chief Financial Officer

    Director and Audit-Committee Chairman of Penguin Solutions, Inc. since 2014

    Sandeep Nayyar has been serving as the Vice President, Finance and Chief Financial Officer of Power Integrations since June 2010. He also holds an external position as Director and Audit-Committee Chairman of Penguin Solutions, Inc. since 2014.

    Sunil Gupta

    Executive

    Vice President of Operations

    Sunil Gupta is the Vice President of Operations at Power Integrations since August 2020, overseeing global operations. He previously led operations at Renesas Electronics Corporation and held senior roles at Intersil Corporation.

    Anita Ganti

    Board

    Lead Director - Cybersecurity

    Exro Technologies, Inc. (Board Member); Silvaco, Inc. (Board Member)

    Anita Ganti has served as the Lead Director - Cybersecurity of Power Integrations since January 2025 and as a director since April 2020. She also has held key leadership roles at Wipro Limited, Flex Ltd., and Texas Instruments.

    Balakrishnan S. Iyer

    Board

    Lead Independent Director

    Chairman of Cato Supply

    Balakrishnan S. Iyer has served at POWI since February 2004 and assumed the role of Lead Independent Director in May 2023, where he oversees independent board governance. He brings extensive expertise from prior roles including CFO at Conexant Systems, adding significant financial and corporate governance experience.

    Gregg Lowe

    Board

    Director

    Silicon Laboratories, Inc.; The Rock & Roll Hall of Fame Museum; North Carolina A&T University

    Gregg Lowe was appointed as a Director at Power Integrations effective February 15, 2025. He previously served as President & CEO of Wolfspeed, Inc. from September 2017 to November 2024 and as President & CEO of Freescale Semiconductor from June 2012 to 2015, with a long tenure at Texas Instruments.

    Nancy Gioia

    Board

    Director

    Exro Technologies, Inc.; University of Michigan – Dearborn ESEE Dean’s Advisory Committee

    Nancy Gioia has served as a Director at POWI since January 1, 2023, bringing decades of leadership experience from her tenure at Ford Motor Company, where she notably served as Director of Global Electrification. She also contributes her expertise as a member of the Compensation Committee at POWI, reflecting her long-standing involvement in guiding strategic governance.

    Nicholas E. Brathwaite

    Board

    Director

    Founding Managing Partner at Celesta Capital; Founding Partner at Riverwood Capital; Board Director at Northwestern Mutual

    Nicholas E. Brathwaite has served as a director of Power Integrations since January 2000 and is recognized for his leadership as Chair of the Nominating and Governance Committee. He is a semiconductor industry veteran with extensive experience in executive leadership and mergers and acquisitions.

    Ravi Vig

    Board

    Director

    Member of the Board of Trustees, Committee for Economic Development of the Conference Board; Trustee and Finance Committee Member, Endicott College

    Ravi Vig has been serving as a Director at POWI since April 1, 2023. Previously, he led Allegro MicroSystems as CEO from 2017 until his retirement in June 2022 and has extensive experience in board and trustee roles.

    Wendy Arienzo

    Board

    Director

    Director at Ichor Holdings, Ltd.

    Wendy Arienzo has served as a Director at POWI since April 2017, bringing over three decades of technical and managerial experience in the semiconductor and power-electronics industries. She is actively involved on key committees including the Audit Committee, Nominating and Governance Committee, and serves as Chair of the Compensation Committee.

    1. In Q1, you mentioned a one-quarter delay in a specific high-power design ramp—what concrete steps are you taking to mitigate any potential revenue impact from this delay, and are there other projects that might be vulnerable to similar setbacks?
    2. You stated that a 10% swing in the yen can impact gross margins by 100 to 120 basis points; can you elaborate on your hedging strategy to manage these currency risks given the current volatility?
    3. With evidence of customers front-running orders due to impending tariffs, how sustainable is your current revenue pipeline once tariff-induced pull-in diminishes, and what adjustments are you preparing for in Q2?
    4. Channel inventories are at 7.9 weeks and appear normal on average, yet certain segments like consumer are below normal—what measures will you employ to balance inventory levels across segments to safeguard sequential growth?
    5. In automotive, you mentioned exclusive design wins and potential adoption by a European customer; how do you plan to convert these wins into meaningful near-term revenue given the overall slowdown in EV demand forecasts?
    Program DetailsProgram 1
    Approval DateApril 2025
    End Date/DurationNo expiration date
    Total additional amount$50.0 million
    Remaining authorization amount$50.0 million
    DetailsRepurchases executed according to pre-defined price/volume guidelines. Purpose includes returning value to shareholders and optimizing capital structure.

    Competitors mentioned in the company's latest 10K filing.

    CompanyDescription

    Competes with the company's high-voltage ICs for the power-supply market through monolithic and hybrid ICs, as well as PWM-controller chips paired with discrete high-voltage silicon or GaN transistors.

    Offers competing monolithic and hybrid ICs for the power-supply market, PWM-controller chips paired with discrete high-voltage silicon or GaN transistors, and gate-driver products.

    Sanken Electric Company

    Provides monolithic and hybrid ICs as alternatives to the company's high-voltage ICs for the power-supply market.

    Produces PWM-controller chips paired with discrete high-voltage silicon or GaN transistors, competing with the company's high-voltage ICs.

    Competes in the power-supply market with PWM-controller chips paired with discrete high-voltage silicon or GaN transistors.

    On-Bright Electronics

    Offers PWM-controller chips paired with discrete high-voltage silicon or GaN transistors, competing with the company's products.

    MediaTek Inc.

    Provides PWM-controller chips paired with discrete high-voltage silicon or GaN transistors as alternatives to the company's high-voltage ICs.

    Renesas Electronics

    Competes in the power-supply market with PWM-controller chips paired with discrete high-voltage silicon or GaN transistors.

    Southchip Semiconductor

    A Chinese supplier offering PWM-controller chips paired with discrete high-voltage silicon or GaN transistors, competing with the company's products.

    Chipown Microelectronics

    A Chinese supplier competing with the company's high-voltage ICs through PWM-controller chips paired with discrete high-voltage silicon or GaN transistors.

    Hangzhou Silan Microelectronics Co.

    A Chinese supplier providing PWM-controller chips paired with discrete high-voltage silicon or GaN transistors, competing with the company's products.

    Mitsubishi Electric

    Competes with the company's gate-driver products and motor-driver ICs through its offerings in these markets.

    Fuji Electric

    Provides alternatives to the company's gate-driver products in the high-power applications market.

    Semikron

    Competes with the company's gate-driver products in high-power applications.

    Hangzhou Firstack Technology Co.

    Offers competing gate-driver products for high-power applications.

    Competes with the company's motor-driver ICs through its power modules for BLDC motor applications.

    CustomerRelationshipSegmentDetails

    Avnet

    Key Distributor

    All

    2024: 30% of net revenue → $125.69M ( )<br>2024: 32% of A/R → $8.70M ( )

    Honestar Technologies

    Key Distributor

    All

    2024: 11% of net revenue → $46.09M ( )<br>2024: 12% of A/R → $3.26M ( )

    Salcomp Group

    Major Customer

    All

    2023: 10% of net revenue ( )<br>2024: 13% of A/R → $3.53M ( )

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Odyssey Semiconductor Technologies

    2024

    The acquisition was completed in 2024 by Power Integrations for $9.52 million in cash, strategically aimed at boosting its high-power GaN switching technology capabilities by acquiring key assets including vertical GaN transistor technology, a clean room facility, and key personnel while also adding $3.422 million in goodwill and $4.930 million in in-process R&D as intangible assets.

    No recent press releases or 8-K filings found for POWI.