Company
About Power Integrations
Power Integrations, Inc., is a leading innovator in semiconductor technologies for high-voltage power conversion. Our products are key building blocks in the clean-power ecosystem, enabling the generation of renewable energy as well as the efficient transmission and consumption of power in a vast range of applications including appliances, mobile devices, computers and countless industrial applications.
Energy-saving technologies such as our PowiGaN™ gallium-nitride technology and our EcoSmart™ energy-efficiency technology prevent billions of kilowatt-hours of energy waste each year, while our highly integrated chips save billions of electronic components each year. Reflecting the environmental benefits of our products, Power Integrations' stock is a component of clean-technology stock indices sponsored by Cleantech Group LLC and Clean Edge, and our Green Room provides a comprehensive guide to energy-efficiency standards around the world.
| PI Quick Facts | |
|---|---|
| Founded | 1988 |
| Headquarters | San Jose, California |
| Chief Executive | Balu Balakrishnan |
| Industry | Analog Semiconductors |
| Employees (as of Dec. 31, 2023) | 819 |
| 2023 Revenues | $445 million |
| Date of Initial Public Offering | December 1997 |
| Ticker Symbol (NASDAQ) | POWI |
Company Milestones
- 1988 – Power Integrations founded by Klas Eklund, Art Fury and Steve Sharp
- 1994 – TOPSwitch™ family debuted as company’s first commercial product
- 1997 – Initial public offering on NASDAQ at $4/share (split-adjusted)
- 1998 – Introduced TinySwitch™ family with EcoSmart energy-efficiency technology
- 1999 – TinySwitch received Discover Magazine Award for Technological Innovation
- 2002 – Introduced LinkSwitch™ family – industry’s first cost-effective replacement for linear transformers, or "energy vampires"
- 2002 – Balu Balakrishnan succeeded Howard Earhart as CEO; annual revenues surpass $100 million
- 2003 – Selected as one of the world’s top 20 “sustainable stocks” by SustainableBusiness.com
- 2005 – Energy savings from EcoSmart technology surpassed $1 billion; company again selected as one of world’s top 20 sustainable stocks by SustainableBusiness.com
- 2006 – Received ENERGY STAR® award
- 2007 – Company’s stock added to NASDAQ Clean Edge stock indices
- 2008 – Stock added to The Cleantech Index; company initiates quarterly dividend
- 2010 – Unveiled one of Silicon Valley’s largest solar installations at our San José headquarters
- 2012 – Acquired CT-Concept, Swiss provider of IGBT drivers, for $116 million
- 2012 – Introduced LYTSwitch™ family for LED lighting applications
- 2014 – Introduced revolutionary InnoSwitch product family
- 2015 – Acquired Cambridge Semiconductor, UK-based supplier of controller chips for AC-DC power supplies, for $23 million
- 2016 – Surpassed $100M in quarterly revenues for the first time (Q3)
- 2017 – Expanded Asian presence with new R&D and production-support center in Penang, Malaysia
- 2019 – Introduced InnoSwitch3 products utilizing gallium-nitride (GaN) transistors; shipped one-millionth GaN-based IC in September
- 2020 – InnoSwitch IC sales surpass one billion units
- 2021 – Surpassed $500M, $600M and $700M in revenue with growth of 44%
- 2022 – Introduced 1700 V InnoSwitch3-AQ ICs, industry’s first automotive-qualified power supply ICs with a silicon-carbide primary switching MOSFET
- 2023 – Introduced InnoSwitch ICs with 900-volt and 1250-volt PowiGaN gallium-nitride transistors
- 2024 – Introduced InnoMux™-2 ICs featuring the industry’s first 1700-volt GaN transistors
