POWI - Earnings call 3 2023 | Power Integrations, Inc.

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Operator

Thank you for standing by. We do apologize for the delay in starting today. My name is Christina, and I will be your conference operator.

At this time, I would like to welcome everyone to the Power Integrations Q3 Earnings Conference Call. [Operator Instructions]. I would now like to turn the floor over to Joe Shiffler, Director of Investor Relations. your begin may you conference. Joe,

Joe Shiffler

and afternoon, Thank With and for Chief Integrations; us. Thanks on you. CEO Officer. the Power Chairman Good me Balakrishnan, call joining Balu our everyone. today Nayyar, Sandeep of Financial are

to of to of acquisition-related During measures GAAP according press the intangible our for third assets not measures non-GAAP compensation stock-based effects financial quarter the and Non-GAAP will exclude included GAAP. these expenses, is calculated reconciliation in we the call, release. measures items. refer A to amortization results tax of today's

that filed the will may uncertainties Our will, risks Such actual discussion and subject in to today, recent cause or differ performance. our today's include release results February outlook, prospects including forward-looking and should, look believe, projected expressions those denoted the materially press vision, like with or and Q&A most toward risks words similar SEC statements forecast, XX-K uncertainties events on from anticipate, X, session, implied. and Such XXXX. by are expect, are in view, statements discussed would, to that future Form

of expressly Finally, and any is Power this of the prohibited Integrations. Integrations, about is written rebroadcast or call recording the consent Power property

to I'll Balu. it Now turn over

Balu Balakrishnan

Thank you, Joe, and good afternoon.

were $XX decrease at range. the And revenues for sequential fourth the X% the quarter the guidance a up quarter at at in prior to million. $XXX Third we midpoint low from our but came the range end of million quarter, of expect

category, of to has broader wins, seeing in have market broad-based the weakened Our the this by season. many peers are results cited industrial as of strength weakness industrial peers the thanks earnings but recent noted. several reflects energy, largely our our In renewable design and outlook we

residual revenues pulled appliance appliance by been pandemic of affected slowdown which sales accounts our of has now forward. many purchases for the market, were in and effects X/X home the the about The when

quarter, reflects believe the and to revenues late backlog an of computer We OEM part also component fourth quarter on had the cancellation affecting in this and quarter efforts both charger inventories. categories. We in unexpected reduce an third communications and

Notwithstanding eventual well demand, see feel ever design in wins strong and continue the as us growth for that design about outlook, short-term position upturn good prospects. the we activity long-term we our to as and

our motor We expanding vehicles, drives, are to dollar of by proprietary on technology. and host electric our track a market driven double renewable XXXX, energy, by products content featuring GaN upcoming addressable

road speed development and overtake but cost-effective suppliers ever technology greener rely long be confident to over leaving technology choice ahead affording are not little for of of We room the GaN only most them technology silicon as single more and high-voltage a on a than full GaN applications. more no GaN will that carbide Most also control silicon term. a foundry, the differentiation over on for alternative map. will

proprietary, that application. the performance we means tailor control map, our switch system can is GaN but also in Our which we road that optimal each GaN for not only

voltages than characteristics technology other in it better today. any unique market is that for higher Our GaN make technology with also the suited

of with map a GaN the on a X,XXX our step latest products. And featuring we introduced volt our the version next week, we March, In last XXX-volt road GaN InnoSwitch took InnoSwitch switch.

Such up and to our SAM address onboard to DC as applications. XX of industrial and as InnoSwitch voltage These unstable power with power DC many technologies chargers voltage vehicles. will us voltages EV enable higher in for for main Higher higher are kilowatts. that converters to geographies electric products ICs and applications GaN XXX-volt industrial ideal also supplies well expand a new with applications range as

efficiency. today alternative of necessary Many that delivers the there level applications served silicon no is viable by these of are because carbide

at solution in products have carbide. GaN level of much a offer that system-level than we However, higher our performance silicon pipeline will

is of temperatures. a carbide, lower-cost extremely to uses its tiny sustainable technology energy efficiency raw more which than and materials GaN makes produce portion because [indiscernible] needed manufacturer. silicon requires cost-effective That fraction benefits also own more a it at carbide is of in the high processed GaN a fundamentally silicon silicon than the carbide, which quants

road end map Our GaN at does XXXX volts. not

wider We viable and beyond applications. GaN it range can includes replacement in in introduce expect future, making for to to vision even silicon near higher a kilowatts, drive the voltage XX our carbide potential a of

beyond X making more and XXX-watt power pushing won uses our than QX, products smartphone for in PFS is incorporating current factor top are kilowatts notebook hyper a a both game GaN tandem dozen designs with InnoSwitch, longer-term in designed proposition, notebook a GaN chip OEM a switches. power gains XX We including While significant supplies. our in inbox which

in controls. We industrial including new number well a at for home audio multimillion lighting, won an GaN even of greater platform in top nonmobile designs designs design dollar applications European and appliance automation, as a OEM as a

prominently motor more GaN road the map technology, drive market to market. BridgeSwitch our to win headwinds continue products. proprietary double addressable will BridgeSwitch despite us current Meanwhile, which and appliance threaded silicon also strong products, enable designs features products our for for in in the our than incorporate

European is light BridgeSwitch low In offers in in exceptional of eco addition appliance in upcoming from customers design to the strong changes interest standby which efficiency standards. attracting very mode, active consumption,

XXXX, the products allowable mentioned expect the to electronic quarter, standards be especially standby appliance be in in impactful beginning we new will consumption As market. for a wide and of we the reduced last range

sand win share low EcoSmart appliance supplies. The the has performance of power Axillary BridgeSwitch us dominant perfectly our complements in by technology, which a helped

consumption our to less middle a LinkSwitch-XTX introduced [indiscernible] at a chipsets EcoSmart In of production SR, customer latest X refrigerator European milliwatts. in design in SR no-load a product, compressor of for we XXXX. QX, BridgeSwitch LinkSwitch-XTX won offers scheduled which than begin top and the we September, combining In

pipeline we again in content our said At the that reflects we than call, our as design quarter's selling dollar interest by been we applications and of in a has beat X quarter. past revenue by higher our the fact potential XX% quarter level, And the This average years. more rising last has stronger. the had in any that never customer broader that price history. record added to our products our evidenced increased almost we third addressing range over On are

which And India's years. we ramp win in recent well us once expected demand returns, over fixed a QX wins, will a significant the wireless are design positioned next design for give to thanks growth including role to rollout several is XG that

Finally, ICs a Challenge outback across in World Solar engineering the in we efficiency month Bridgestone InnoSwitch a of car. race Australian ruggedness GaN a of solar-powered students demonstrated we last co-sponsored in the the superior team and where

XX efficiency full With applications that XX% power team, rates a use. happy race, the was the car's implemented light DC X-day and at that to XXX-kilometer complete in only nearly entrants help in reducing greatly Foavi report improvement of energy load a [indiscernible] sponsored converter team solution, journey. compared almost the to our I'm of XX% the to the efficiency earlier X achieved of DC XX an to

every what are unchanged, of the long-term we we to To outlook conclude, is and spite the demand followed environment, control, playbook downturn. we sticking in on have tough focused our in

the the We upturn ready are and to turn among it that keeping for we foundry be knowing inventory elevated when strong retain capacity to the be will comes. to see first

will our growth, we and in growing products as motor flow automotive, next-generation buying managing dividend, the We knowing technologies continue long-term and back generate strong will but And prudently our that investing such expenses recover. that gate it's GaN, we our our and revenues stock are drivers. cash when are drive drive down as to

it turn review to will I over financials. for a of the that, With Sandeep

Sandeep Nayyar

and that environment, invest will continuing are of drive Thanks, the opportunities good weak managing the afternoon. prudently our we long-term expenses Balu, while in In face to demand growth.

moderating having an of million, the X% On and category foundry basis, the communication we manufacturing down $XXX.X mid-teens, with a for also as year-over-year. driven restocking but quarter our the when are up associated . Revenues from to comes. are always, the design China inventory prior We third by it handset channel and were to was maintaining sequential capacity wins market. upturn quarter volumes up cognizant and XX% respond

run we Chinese and low OEMs, sign market. several as further that a have past inventory and the distributors over in restocking ODMs at the quarters their normalization unsustainably of view of charger levels

mid-teens solar. Automotive, The scale driven in by was up while was power sequentially industrial high also up from where utility still quarter. also strong growth category small, prior seen we have the

than down to Computer notebooks revenues more aftermarket and extent, tablets lesser and XX% sequentially, charges. were driven by a

and mainly driven Consumer seasonality revenues overall conditioning continued the mid-single by digits, appliance softness air market. in the down and were

points basis weaker quarter but by the end our for XX% the XX% XX% manufacturing of nevertheless yen. expectation XX.X% was and Non-GAAP margin and to Revenue consumer computer. the communication, mix, XX% quarter prior market Industrial, by efficiency was increased modestly XXX below gross due driven mix from

by inventory for Distribution week, primarily for weeks up X.X customers, at the remain driven distributors XX.X to sell-through. ended markets at channel earlier, other quarter the elevated while mentioned restocking China as due levels end weaker from handsent prior

channel did in October. inventories in we see reduction a However,

spending down than hiring continue manage $X expenses Non-GAAP pace were million we $XX.X and forecast below of more the discretionary well adjust carefully. operating for to quarter and the million sequentially our as

Non-GAAP up earnings prior from operating prior points margin $X.XX $X.XX share, the the X the almost from per Non-GAAP up quarter diluted for XX%, quarter. were was quarter.

quarter balance sheet was quarter by rose flat were operations end X and to days on from the $XX.X the essentially XXX dollars for at from end. flow quarter prior of Cash the Inventory the days million.

The million quarter the matrix. more and quarter at by cash share the repurchase. end $X dictated the million of million quarter since for as buyback million preset and has $X volume during for price our of at $XX been for included significantly dividends remaining $XX active end, Uses CapEx,

increased press the the beginning December. board dividend As release, in fourth $X.XX our noted share quarter in with payout per has to our quarterly

Turning to outlook. the

QX or be of revenues the only similar be year a be of margin course Non-GAAP million. expect minus us should for a to We quarter Non-GAAP operating high plus X% around growth should puts to the $XX.X full on expenses year's this expense $X million, for XX.X%. level $XX That despite gross million. fourth inflation.

for effective rate to let's X%. tax fourth Q&A. the operator, around non-GAAP quarter the expect And I now begin be Finally,

Operator

comes And Tore [Operator your first from question Instructions] line of from Svanberg the Stifel.

Tore Svanberg

down you've channel first with inventory. this I come more. come Sandeep, mentioned Yes. on think was But quite the to up to it see quarter. sequentially. assume is question revenues, going obviously, the decline said And a you is I XX.X%, it you also started bit in My

the you be exit at expect inventory the to as do where So you year? channel

Sandeep Nayyar

quarter. So of X.X benefit coming I or weeks think get in the we should so a at least

definitely sell-through As I a us surprised think little I've the been was where Normally, we October quarter and last exceeded sell-through. it. off. this have on kind the bit you generally a quarter But welcome of little has the a know, the sell-in. But before, slowdown the

my think I weeks about So X.X down. guess is

Tore Svanberg

that, so. peak of to Very actually you good you don't And perhaps going this if a $XX but related where good. I Balu obviously And is. was for to a has even million Obviously, quarters more where now. the know consumption here, want few half answer true just have I'm for your wondering if up feel been is or

year? You in some had restocking about if and just up communications that the relief, guiding challenging talked have could But and first this And Or the down PC. of the profile? sort that bit for wondering half consumption? on of think of QX. perhaps sort from be Bandaid into you fits little ripping a of you a into obviously, companies $X hard have to million continue read do pretty true I'm any

Balu Balakrishnan

downturn And customers us May, through rebound. March demand really surprised I did thought as came And the people. other didn't on surprise up. strong show obviously, our We thought out has it Tore, a we bookings that well. So as are think in the when the

-- they reason -- . the in now appliances this a real become why with And industrial so markets. reset in has revenue inventories, stuck so still And especially us. and for that's have

per rate quarter. true COVID -- in what the in terms of normal in should demand before the our demand, the So is run $XXX if we to demand, somewhere be is that million go back

that's We well. the really other Nobody it rates doing so so Why taking what very economy a of number long. it is high. done would have modeling the are fact across say. than is interest The world the knows that not

we that's So and we are when. going is to know The back. trying question out. figure to what it's And struggling come

things onwards. the are a is think we to reset any to We do an thing But optimistic it [indiscernible] don't down going this to have number. QX further. expect to we that grow from recovering week the certainly QX, we inventory to start we're appropriate in will want and come And

Tore Svanberg

Great.

Just question GaN, more last one on obviously, term. longer bit a

more that about for GaN did like so say so XXXX obviously, X,XXX new introduced week. at opens in the So something forth. you you be the and could the And applications, that talked obviously, is When GaN switch up Volt earliest and Switch. door last on production markets that

Balu Balakrishnan

power are The X levels, into higher and go products. months those production usually build away, could that like then go the when be in to sometime and to production. DC the so that's so we'll forth. to centers. of The in we and get converters in XXXX it next and X years But also GaN products onboard takes to cars we months on X into developing mostly DC things But chargers process or into it cars Switch will in data be because to market. able much year industrial are X in

system at know, As you is we everything a level. do

And some takes time. it so

technology in the However, applications. silicon the replace fundamentally, to carbide attractive this is X,XXX-volt very

As are than for But don't regular very there no efficient. know, go that IGBTs may MOSFETs volts. the IGBTs. you solution silicon is to not X,XXX other

the silicon higher much provide carbide, performance. GaN solution have believe, replace is today silicon I So carbide, will and but only you

Operator

your David Company. line the Benchmark next Williams the And from comes from of question

David Williams

maybe to noted quarter chance OEM and an what recover? push if fourth Balu, little sizable sense could maybe you from was impacted a demand third that of think that a a and bit? if impact there fourth Can give the a the about you guess was -- as materializes that talk us we maybe rebound you a of or there I bit quarter. of kind out that maybe magnitude the Is quarter, does --

Balu Balakrishnan

Yes.

This try mid me mid-teens discuss million is be -- terms that want QX. answer very magnitude. we the sorry, only items. total QX in in any customer. to that But But the and and is -- a the by items. a in is is QX portion also Let I'd X question. careful impacted of in because dollars reduction magnitude, of specific was Part of larger don't other X dollars it's

being for QX I distributors items industrial shipments a China be stocking had will other in The demand bookings QX. is not in X strong mean, The we in cellphone last there an the itself. slowdown for unexpectedly that and consumer and business

distributors back this And the were because the with was low. customers inventory unusually orders, off the is cut came And guard. when the

the business that's the some they're one of from so And products get cell this up scrambled built to this is to went reasons And of normal overall, restocking get us the levels. and stage. phone up at inventory inventory of because the

David Williams

just And the then maybe one here on another GaN.

customers? been I little you're thoughts guess understand the about the You've released products quarter. a But congrats that. And and applications the of if what XXXX-volt over maybe it for quite customers seems with pace many early really feedback talk have GaN. we the And last products like is those the or a it like up. think what of Can bit you your picking you on bit new of hearing. seems And

Balu Balakrishnan

Yes.

very of surprised. I are them think most

do volts. You at actually GaN can XXXX

challenge suited for a And technology a even volts, they or is higher voltages. our while. struggled for have doing competitors XXX Our uniquely XXX were

And XXX-volt so were year. able earlier a introduce we product only to not this

Now able X,XXX. do we are to

and If you're the about needed in wondering applications, that's is be which volts, rated at industrial X,XXX what applications. is we derated X,XXX by many what XX% is that volts, X,XXX. is will X,XXX, magic why

time of flexible to so the that industry that voltages. can plan to these in offer we and GaN really voltage higher higher is Now we And the able that's technology even go types so is products. the to to go and even voltages do first

quite And the the XXXX we we are silicon development you the to, an when So can XX important applications. many go to about we level in the X,XXX you carbide go world. magic volts, is carbide can currently that, kilowatts, volt to in because silicon go what can we think is that, is power which to replace

breakthroughs but performance some higher carbide. potentially much even go believe more power carbide competition we term, but competitive and silicon very longer the at major of in a levels to become a GaN important, And we could with higher in to silicon

And world. is you into the voltage that. X,XXX that's exciting a getting what volt is about are carbide really where That magic silicon

David Williams

that that lower Or was there used power? the XXXX-volt? you've -- your that change architectural process lower your Is same on to Sure. to voltage an get

Balu Balakrishnan

very device breakthroughs the even fundamental in are said, which we the lot number had higher pushing be a us there same, that can of confident is Well, and but are obviously, we a we've to And that get higher will regard. it get of voltages to -- I we voltages. innovations as

David Williams

you real last the think like Okay. looks hit million the Sandeep? Great. to do just $XX one -- business midpoint quick. What fare, one for And turns

Sandeep Nayyar

for [indiscernible] XXs. this? Returns In low the

Balu Balakrishnan

XXs. Low

Operator

next from line your And from Susquehanna. the Christopher comes question of Rolland

Christopher Rolland

was snapback kind kind it here, if you next seasonality thoughts might I given you crazy of or when of year? Just on talk dynamics kind think could, maybe the for of inventory even can if versus the March the wondering about slope come. broad you

Balu Balakrishnan

question. That's a great

think You've -- we'll taking I of was been Whether no point. we I am in customers. And asking well be to our will ourselves the where this back. from will higher the to applications but that is our everything some way lot it's point we are on for QX grow. inventory when it hoping back, point, with because from . And GaN-based or come or the clear at is of customers. has know designs and continuing it are has demand and to it everybody solutions about as back in electric some you've from it that there from below don't that and This be. know, by surprised onwards, so to shape with trend continue so we that within is come is we demand win much. long than it's be us. how unfortunately, areas, to below not are line. to clear we is the at answer And appliances. But low And QX, comes obviously vehicles expecting heard lots BridgeSwitch appliances a fantastic a industrial because optimistic

lot designs. a have We of

because been out inventory. new to of products They old those before introduce they the have of products. simply some delayed clear want designs And the

these 'XX. designs So many in of go production -- into Q will

second out half that be the will so the it strong. And we come be will optimistic are of 'XX time it will maybe when

happens, if strongly always of ones first out to And out in we the come downturns. very we'll think are have like past However, it done it. the come I we just

Christopher Rolland

Great. And consumer I at overall, look high-volume right the now, is for of When perhaps market. another think spot market least, kind one the is sweet you. GaN the I for at

you I guys think point. a we $XX the story there? And that I gross inflection kind when And part a $XX think maybe or of at maybe of get meaningful well. kind here of as What's million margin a were think one other can million do there that than doing you stalled was macro?

little more It you a quarter further little and kind think lighter of was want about it a out? If talk margin. about little this gross to we bit how a should

Balu Balakrishnan

we or interest to is silicon watts. our about with of talk very significant And silicon reason the We a Sandeep GaN mobile believe the replace and the with all design better GaN. because that's a address it way beyond designed . of to a about to in. part. say, technology fastest computer for XX next our started most within we wins are continuing products going should are gross me margin use so. will products will expand in there's really is markets, Let the I appliances, that Actually, We industrial it But well seeing get new phones. new compete mobile It's year because and GaN then markets.

it's it's brings. a about sands, higher audio some because get some of voltage. don't in are it have it's because some interest is because we transient has the very can voltages even it And cases, In so I breakdown low need seeing lot that we in advantages you In doesn't this that in much efficiency simply again thought heat -- the necessary. cases, a fact can would care which handle sink. But cases, a some markets it property of it of many is never sharp GaN, cases,

a So you're damage transistor, if short the you it India, in products for interest where useful we areas. which grid, breakdown have of you to these all if is not unstable and places seeing of voltage lot exceed periods the incredibly different shipping so time, like does are

So what outside products, of the are think winning mobile within mobile. number we higher are of is designs I than winning we

handle we can about Sandeep, margin. And I talked gross in the conference think the you last call. maybe

Sandeep Nayyar

Yes.

and different year revenue even though totally on think for different think we I looking I'm we've next certain lots best for even not I the around also. modeling, are at done year, outlook for the XX.X% next non-GAAP modeling with -- of the

as the I mix term, Analyst at remember, had favorable. But long Now the talked is very in about Day favorable the place. even a yen go that is

you have So would yen running back normal come the the normal levels, model out, XXX. to it's in if at XXXs of to levels the versus have to model some you that

for the our of I 'XX, be up the moves even mix And as the I've I on think said somewhere higher always we'll we'll towards higher which is the around end of think end back the yen model. So margin. be and goes XX.X%,

Operator

next comes from your Cohen. And from the of Matt Ramsey TD line question

Matthew Ramsay

nnew tight million trying dig see around and before that was quarter of the all at wins little just bit wrap $XXX think, pandemic wanted And million around, against, my I the in built it gave more you you a you and quarter. to that that down? got sort Was juxtapose guess, into thereabouts that. top XXXX you the head higher. have. kind I of as based up I'm content bottom things design on things and what peak went how normal" guys historical around a to I some sort of Was to it of $XXX -- commentary I a

of that head normal like trying that you of might my sort it that pieces to forecasting sort that's So new the of around sort together to if I'm what put just indeed get get you're to be?

Balu Balakrishnan

Okay.

it. had have of several different we So modeling ways

I think multiple on and their done model have sales model. model, done has Marketing things. finance done is down. It own It's their their based has tops bottom-up own own

We both have done ways. .

we a we historically, In of taken normal increasing various said, the the you call have top then what that of this consumption look -- that. markets COVID market we terms add amount. by up, and then is And that, designs bottom before if and on of at SAM okay, have additional products to

it's like surprisingly, of on. be exact. going But on and quarter, all X XXX wars everything So so than, roughly them of and show a other geopolitics we else at that's should not that speaking, course,

So if with be of future. growth just the of take XXXX into trend would all that further our that as line away, you

It So all crazy on things doesn't into it's world. around take modeling just that exercise. a the account going the are

Matthew Ramsay

Thanks, it. appreciate

given guidance for just bit down just the Just break dislocation starting you Sandeep, by term. sure right want I amount of December could make segment the from place. all little maybe a the here. to we're shorter revenue

Sandeep Nayyar

Yes.

see, we segments significant about, decline will computer I will but communication decline you think the the should talked all what X be decline in and . more as

Operator

from Bank. comes Seymore question the next line from Ross of Your Deutsche

Ross Seymore

weeks, difficult that's and I up, it's still to about X, going know first matters just there? in wouldn't is even quarter, these extent going very at if the You you're talked some go seasonality predict and target at if days. XX But above hope end to your not channel XQ? headwind a weeks to inventory maybe And X we range, burn least that have why being to still also your the you

Sandeep Nayyar

Yes.

QX. are the the a be we of expecting talked I in rebound. about rebound there will think cancellations QX a on and We that one that. is things So And

primary sales, I the So and through where the that's through not channel. not think -- direct -- that's that's

at the are down level in -- expectation if come and and Also, are my appliances to normal will the if think levels. have hoping inventory channel even we X in really as in will given, the you guidance using come that appliances, the level now the we really we come That's QX the revenue I'm level. below that is category, by reaching appliances, down have where XXXX look really just you down,

of the Balu customer in are of rebound at better. that. will things as in QX, timing, talked but Those we'll I seasonally this are up, build hoping or QX certain the I'm that we Balu's getting So about, X% this than indicated, we're that air What and total reasons down but that better then be are think like X%, so cancellations. conditioning get I not start who negative we more saying, the be saying typically

So that's why directional Balo be these said, better items. of couple a we'll quarter. And because a that's little than this of

Ross Seymore

expect of gross asked 'XX? I that What side question about Prior you do about pretty know the OpEx the margin. the things you're tight in fourth in How quarter.

Sandeep Nayyar

Yes.

all and at years, with And at But we've are in a the if has been everything belt. our X pipeline. last this you a you where the inflation really really as products we can exciting we've has been, tightened real the look imagine, X So such point got challenge. or

GaN with investments investments the going other places. got seen are with make had there for to India we announcement We've automotive. other and You've we the for

from -- so make the for have current purposes, And the why we you and think that's investments. to those level. X% to grow next year -- expenses should will I modeling X% for And year,

with normal that we push you're is market. you year care this the out year. If million health And costs really aware going basically, here, that that million, next I'm cut in the sure think happening expenses raises on really higher $X our I $X nearly what's what of

which indicated, be typically, tightening we make a -- was going was we 'XX. RIM keeping is And once not different. This those been same to to these investments, about think time, it can, So been time know this are [indiscernible] in and come And much how back, had first tight have X you saw downturns problem, our We've it I and the belt Nokia situation. XXXX the we But been longer. we definitely I is it's in yen are quarters. one, have we going Ross, Balu strategic. think no away. and here this but this we've And as you invested. And

turn, eventually every we've they out and come turn, But we stronger. first. see it time And we

Operator

further this [Operator are at no Instructions] time. There questions

would to floor Joe the back I to So turn over like Shiffler.

Joe Shiffler

this Thank everyone, listening. for Christina, a again, of on right. be There thanks, website, investors.power.com. and good available will All afternoon. you, and Thanks our replay call

Operator

conference Thank does This conclude you. today's call.

a day. You disconnect. may great Have now

Power Integrations (POWI) 7 Nov 232023 Q3 Earnings call transcript