Spin waves in insulating magnets are ideal carriers for spin currents with low energy dissipation. An electric field can modify the dispersion of spin waves, by directly affecting, via spin-orbit coupling, the electrons that mediate the interaction between magnetic ions. Our microscopic calculations based on the super-exchange model indicate that this effect of the electric field is sufficiently large to be used to effectively control spin currents. We apply these findings to the design of a spinwave interferometric device, which acts as a logic inverter and can be used as a building block for room-temperature, low-dissipation logic circuits.One of the major challenges of contemporary electronics is to reduce dissipation as the size of devices shrinks to the nanometric scale. In this context, spin-wave spintronics, so called magnonics, with insulating magnets offers interesting possibilities [1,2]. While in metals and semiconductors the spin current is carried by mobile conduction electrons/holes, which inevitably dissipate energy as they move, in a magnetic insulator, such as Y 3 F e 5 O 12 (YIG), the spin current is carried by a collective motion of magnetic moments -a spin wave -with no charge displaced. The spin current propagating in these insulating material is thus totally free of energy dissipation from Joule heating, and almost free of dissipation from other sources (e.g. electron-magnon scattering): the coherence length can be as large as several centimeters [2]. For these reasons, magnetic insulators have attracted considerable attention in recent theoretical [3][4][5] and experimental [2, 6] work. For example, Kajiwara et al. [2], have demonstrated injection and extraction of spin waves into and out of a YIG wave guide [8]. Kostylev et al. [9], have designed an ingenious scheme of spin-wave logic, based on the interference between spin waves traveling along different arms of a Mach-Zehnder interferometer (a schematic illustration of a Mach-Zehnder spin wave interferometer is shown in Fig. 1).A crucial element of magnonics [1] is the phase shifter -a device that changes the phase of propagating spin waves. Several mechanisms have been proposed in the past to implement controlled phase shifts on spin waves. The simplest and most direct, is the application of a magnetic field, which shifts the dispersion [10], thus changing the wave vector at constant frequency [9]. More sophisticated mechanisms exploited the Berry phase accumulated by spin waves that propagate on a non-collinear magnetic texture [4,11]. In a parallel development, Cao et al.[12] studied the effect on spin waves of an electric field-induced Aharonov-Casher (AC) phase [13]. More recently, the influence of electric fields on spin waves has been studied both theoretically [14] and experimentally [15] and a strong shift of spin-wave dispersion induced by an electric field has been reported [15].In this Letter we directly tackle the problem of controlling the phase of a spin wave (and hence the spin Figure 1. A Mach-Zehnder spin-wave interfer...