Power Integrations, Inc. was founded in 1988.
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The offering took place on December 12, 1997. The company sold 4,000,000 shares at a price of $8.00 per share. (The stock split 2-for-1 in 1999, so in today's terms the IPO price equates to $4.00 per share.)
No, Power Integrations does not offer a direct-purchase program.
Power Integrations initiated a quarterly dividend in the fourth quarter of 2008. In 2015, the company paid quarterly dividends of $0.12 per share on the last business day of each quarter. The company's board of directors has declared quarterly dividends of $0.13 per share for each of the four quarters of 2016; dividends are again to be paid on the last business day of each quarter.
Yes, the stock split 2-for-1 in 1999.
POWI's fiscal year ends December 31.
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A power supply is a device that converts the power provided by electric utilities (typically high-voltage alternating current) into power that can be used to operate an electronic device (typically lower-voltage direct current). Virtually every electronic device that plugs into a wall socket requires a power supply. Power supplies are found inside many electronic products (such as major appliances and desktop PCs), while others, such as mobile phones and cordless phones, use external adapters or chargers.
No, Power Integrations sells integrated circuits and diodes used in power supplies. Power supplies built with our components are typically smaller, lighter, easier to manufacture, and more energy-efficient than power supplies built with competing technologies, usually at an equal or lower cost. Also, while we do not manufacture or sell power supplies, we do have numerous patents related to power-supply design techniques.
Since virtually every electronic product that plugs into a wall needs a power supply, our addressable market is large and diverse. Our ICs can be found in all manner of electronic products, including consumer appliances, set-top boxes, mobile-phone chargers, LCD monitors and TVs, personal computers, LED lights, "smart" utility meters and many industrial applications. Our IGBT-driver products are used in high-power applications such as industrial motor drives, renewable energy systems, high-voltage DC transmission systems and electric locomotives.
As a fabless semiconductor company, we do not own facilities for processing silicon wafers. Our wafers are produced by our foundry partners, which include Lapis and Seiko Epson (located in Japan), and X-Fab (based in Germany). However, unlike many fabless semiconductor companies, our wafers are produced using our own proprietary process technology, which we have installed at the facilities of our foundry partners. Our chips are packaged and tested by subcontractors located in Asia; we also conduct some testing at our San Jose headquarters.Our IGBT-driver boards are assembled by an independent subcontractor in Sri Lanka.
We sell our ICs and diodes to companies that produce power supplies for electronic goods. Most of these companies are merchant power-supply manufacturers, who in turn sell to original equipment manufacturers (OEMs) that produce electronic products such as computers, TVs, appliances, etc. In some cases, OEMs make their own power supplies. Our ICs can be found in goods produced by many of the world's leading OEMs, such as Samsung, Electrolux, Dell, LG, Sony, and many more. Our IGBT drivers are used by many of the world's leading manufacturers of industrial equipment.
Overall, approximately 25% of our sales are made directly to power-supply manufacturers and OEMs, while the remainder are through distributors of electronic components.
A portion of the energy consumed by an electronic device is the power wasted in the process of converting high-voltage AC power from the wall socket into the low-voltage DC power required to run the device. Power Integrations' EcoSmart™ technology drastically reduces this waste compared to older power supply technologies. In particular, EcoSmart technology virtually eliminates the power wasted in standby mode, i.e., when a device is "off" or otherwise idle but still plugged into the wall. (For more information, visit our Green Room.) Our IGBT drivers also dramatically improve the efficiency of high-power applications such as industrial motors and inverters for renewable energy systems.
The company has made several acquisitions over the years, the largest of which was the purchase of CT-Concept Technologie AG (Concept) in 2012, for approximately $116 million in cash. Based in Biel, Switzerland, the company was a developer of highly integrated, energy-efficient drivers for high-voltage IGBT modules, which are used in a range of high-voltage power-conversion applications including industrial motor drives, renewable energy generation, electric trains and buses,high-voltage DC transmission and medical equipment. The acquisition added approximately $500 million to Power Integrations' addressable market and increased the company's revenues by approximately 10%.
In January 2015 Power Integrations acquired Cambridge Semiconductor, a UK-based supplier of controller chips for low-power AC-DC power supplies.
As of December 31, 2015, POWI had 595 employees.
As of December 31, 2015, POWI held 764 U.S. patents.
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Director, Investor Relations & Corporate Communications
Fax: (408) 414-8628
Attention: Investor Relations
5245 Hellyer Avenue
San Jose, CA. 95138