Power Integrations (NASDAQ: POWI) has announced the appointment of Nancy Erba as its new Chief Financial Officer effective January 5, 2026. Erba, who brings over 25 years of corporate finance experience, most recently served as CFO at Infinera Corporation before its acquisition by Nokia earlier this year.
In the previous period, Power Integrations' revenue increased to $166.3 million, reflecting a 15% growth year-over-year. The gross margin also improved to 53.7% compared to the previous period's 52.1%. Operating income stood at $29.8 million, marking a 13% growth, and net income was $25.6 million, indicating a 9% growth.
Furthermore, the company's cash and investments amounted to $276.6 million, showing an increase from the previous period's $250.4 million. Total assets also rose to $570.1 million compared to the previous period's $536.9 million.
Power Integrations' CEO, Jen Lloyd, expressed excitement over Erba's appointment, highlighting her financial stewardship and experience in the technology sector. Erba, in turn, conveyed her enthusiasm for joining the company during this pivotal time, emphasizing the accelerating demand for high-voltage semiconductors driven by trends such as AI, electrification, and decarbonization.
Power Integrations, Inc. is recognized as a leading innovator in semiconductor technologies for high-voltage power-conversion, playing a crucial role in the clean-power ecosystem. The company's products enable the generation of renewable energy and the efficient transmission and consumption of power across various applications. As a result of these announcements, the company's shares have moved -1.43% on the market, and are now trading at a price of $31.83. For more information, read the company's full 8-K submission here.
