In accordance with an embodiment, a semiconductor component includes a support and a plurality of leads. An insulated metal substrate having a first portion and a second portion bonded to the support. A semiconductor chip comprising a III-N semiconductor material is bonded to the first portion of the insulated metal substrate and a first electrical interconnect is coupled between a drain bond pad the first portion of the insulated metal substrate. A second semiconductor chip is bonded to the first electrical interconnect. A second electrical interconnect coupled between a lead of the plurality of leads and the second semiconductor chip. In accordance with another embodiment, a method of manufacturing a semiconductor component includes coupling a first semiconductor chip to a first electrically conductive layer and coupling a second semiconductor chip to a second electrically conductive layer.