secwatch.observer — SEC 8-K summary
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Issuer:     POWER INTEGRATIONS INC (POWI)
CIK:        0000833640
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001157523-23-000742
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Power Integrations Q1 revenue $106.3M, down 42% YoY; sees Q2 rebound to $122M
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- GAAP EPS $0.12 ($0.77 YoY); non-GAAP EPS $0.25 ($0.93 YoY); revenue fell 15% QoQ and 42% YoY.
- Q2 guidance: revenue $122M ±$5M; GAAP gross margin ~51.5%; non-GAAP gross margin ~52%.
- Dividend maintained at $0.19/share; payable June 30 to holders of record May 31, 2023.
- CEO cites 'revenues have bottomed' and cyclical recovery; orders improving; distributor inventories reduced.
- Introduced first 900V GaN ICs for EV and industrial; gaining share in motor-drive and automotive.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/833640/000115752323000742/0001157523-23-000742-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/833640/000115752323000742/a53394165.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000742

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