The ADP2114 has built-in, pulse-skip circuitry that turns on during light loads, switching only as necessary to maintain the output voltage within regulation. This allows the converter to maintain high efficiency during light load operation by reducing the switching losses. In pulse-skip mode, when the output voltage dips below regulation, the ADP2114 enters PWM mode for a few oscillator cycles to increase the output voltage back to regulation. During the wait time between bursts, both power switches are off, and the output capacitor supplies all load current. Because the output voltage dips and recovers occasionally, the output voltage ripple in this mode is larger than the ripple in the PWM mode of operation. If the converter is configured to operate in forced PWM mode, the device operates with a fixed switching frequency, even at light loads.