Power Integrations has been recognized by the Global Semiconductor Alliance (GSA) as the Best Financially Managed Semiconductor Company with revenues up to $1 billion.
The recognition, announced last week at GSA’s virtual awards ceremony, is based on the organization’s evaluation of the financial health and performance of public semiconductor companies.
Commented Sandeep Nayyar, the company’s chief financial officer: “We are proud of our long track record of profitable growth and cash flow, our strong balance sheet and our history of delivering value for our stockholders by offering innovative, differentiated products for our customers. We thank the GSA for this recognition.”
Power Integrations has a strong balance sheet with more than $400 million in cash and investments and no debt and grew its revenues ten percent year-over-year through the first nine months of 2020.