A semiconductor device has a power rail that provides a rail voltage. The power rail is electrically coupled to a plurality of voltage regulators, and each voltage regulator includes an output interface electrically coupled to the power rail, and a first drive path and a second drive path both coupled to the output interface, and an intra-regulator balancing circuit. The first and second drive paths are coupled in parallel with each other, and operate during a first phase and a second phase, at an operating frequency, to provide a first path current and a second path current to the power rail, respectively. The intra-regulator balancing circuit senses the first and second path currents and controls a first duty cycle of the first phase and/or a second duty cycle of the second phase based on a difference of the first and second path currents.