A semiconductor device may include a semiconductor substrate having a first dopant type. A first semiconductor region within the semiconductor substrate may have a plurality of first and second portions (44, 54). The first portions (44) may have a first thickness, and the second portions (54) may have a second thickness. The first semiconductor region may have a second dopant type. A plurality of second semiconductor regions (42) within the semiconductor substrate may each be positioned at least one of directly below and directly above a respective one of the first portions (44) of the first semiconductor region and laterally between a respective pair of the second portions (54) of the first semiconductor region. A third semiconductor region (56) within the semiconductor substrate may have the first dopant type. A gate electrode (64) may be over at least a portion of the first semiconductor region and at least a portion of the third semiconductor region (56).