Power Integrations Inc - POWI STOCK NEWS

Power Integrations (Nasdaq: POWI) has announced the release of its second-quarter financial results for 2024, scheduled for August 6 after market hours. The company will host a conference call on the same day at 1:30 p.m. Pacific time to discuss the results. Investors can access a live and archived audio webcast of the call on the company's investor website. Additionally, a telephonic conference call option will be available for members of the investment community, accessible through a link that will be activated 30 minutes before the call starts. This link will be available on the investor website from 1:00 p.m. Pacific time on August 6.

Power Integrations (NASDAQ: POWI) has launched the BridgeSwitch-2 BLDC IC family, enhancing its hardware-software bundle for brushless DC motors (BLDC). The new ICs feature high- and low-side drivers, advanced FREDFETs, and deliver up to 99% inverter efficiency. The BridgeSwitch-2 family targets applications up to 1 HP (746 W) and reduces inverter sleep-mode consumption to less than 10 mW. It includes the MotorXpert software suite for speeding inverter development, and the IHB architecture that increases design flexibility and reliability while reducing component count and PCB space. The ICs also support emerging EU ERP regulations and offer robust built-in protections, eliminating the need for auxiliary power supplies. Pricing starts at $0.48 for 10,000-unit quantities.

Power Integrations (Nasdaq: POWI) has announced that it will present at two upcoming investor conferences. The first event is the TD Cowen 52nd Annual Technology, Media & Telecom Conference in New York on May 30 at 1:50 pm Eastern time. The second event is the Stifel Cross Sector Insight Conference in Boston on June 4 at 9:45 am Eastern time. Both presentations will be webcast live and accessible via the company's investor page at investors.power.com.

Power Integrations (NASDAQ: POWI) has launched the SCALE-iFlex™ XLT family of dual-channel plug-and-play gate drivers. These drivers are designed for 1.2 kV to 2.3 kV IGBT modules used in renewable energy installations such as wind, solar, and energy storage. The drivers enable active thermal management, improving system utilization by up to 30% and reducing hardware complexity. Using the SCALE-2 chip set, the new gate drivers minimize component count and enhance reliability. They also offer NTC temperature readout for accurate thermal management and protection against short-circuits. The SCALE-iFlex XLT drivers are available for sampling now.

Power Integrations (NASDAQ: POWI) reported quarterly revenues of $91.7 million, with GAAP earnings of $0.07 per diluted share and non-GAAP earnings of $0.18 per diluted share. Revenues were up 2% from the prior quarter but down 14% from the first quarter of 2023. The company's GAAP net income for the first quarter was $4.0 million. Power Integrations provided a positive outlook for the second quarter, expecting higher revenues and increased gross margin, driven by improved orders and efficiency enhancements in their power-conversion technology.

Power Integrations, a leader in high-voltage integrated circuits for energy-efficient power conversion, announced the acquisition of Odyssey Semiconductor Technologies, a developer of vertical gallium-nitride (GaN) transistor technology. The transaction is expected to close in July 2024, with all key Odyssey employees joining Power Integrations. This acquisition will support the development of Power Integrations' PowiGaN™ technology, enhancing their product families and expanding their voltage and power capabilities.

Power Integrations (POWI) to report Q1 financial results on May 7, 2024, with a conference call scheduled. Investors can register for the call online.

Power Integrations (POWI) launches InnoMux-2 family of ICs, combining AC-DC and DC-DC stages to cut power system losses by up to 50%. The new GaN-based switcher ICs offer up to three independently regulated outputs, reducing component count, PCB footprint, and increasing efficiency by 10%. InnoMux-2 devices deliver up to 90 watts of output power with accurate regulation, high system efficiency, and low power consumption, suitable for various applications like TVs, monitors, appliances, LED lighting, and industrial power supplies.

Power Integrations (POWI) reported a decline in quarterly revenues to $89.5 million, down 29% from the prior quarter and 28% from the fourth quarter of 2022. GAAP net income for the quarter was $14.3 million or $0.25 per diluted share. Full-year revenues were $444.5 million, with GAAP net income of $55.7 million. Non-GAAP net income for the fourth quarter was $12.7 million or $0.22 per diluted share, and $74.5 million or $1.29 per diluted share for the full year. The company repurchased 680 thousand shares during the quarter for $47 million.