CIRRUS LOGIC, INC., 10-K filed on 5/23/2025
Annual Report
v3.25.1
Cover - USD ($)
 12 Months Ended
Mar. 29, 2025
May 21, 2025
Sep. 28, 2024
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Mar. 29, 2025    
Current Fiscal Year End Date --03-29    
Document Transition Report false    
Entity File Number 0-17795    
Entity Registrant Name CIRRUS LOGIC, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 77-0024818    
Entity Address, Address Line One 800 W. 6th Street    
Entity Address, City or Town Austin,    
Entity Address, State or Province TX    
Entity Address, Postal Zip Code 78701    
City Area Code (512)    
Local Phone Number 851-4000    
Title of 12(b) Security Common stock, $0.001 par value    
Trading Symbol CRUS    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Smaller Reporting Company false    
Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 4,316,767,046
Entity Common Stock, Shares Outstanding (in shares)   51,560,135  
Documents Incorporated by Reference
Certain information contained in the registrant’s proxy statement for its annual meeting of stockholders to be held July 29, 2025 is incorporated by reference in Part III of this Annual Report on Form 10-K.
    
Amendment Flag false    
Entity Central Index Key 0000772406    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
v3.25.1
Audit Information
 12 Months Ended
Mar. 29, 2025
Audit Information [Abstract]  
Auditor Firm ID 42
Auditor Name Ernst & Young LLP
Auditor Location Austin, Texas
v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 29, 2025
Mar. 30, 2024
Current assets:    
Cash and cash equivalents $ 539,620 $ 502,764
Marketable securities 56,160 23,778
Accounts receivable, net 216,009 162,478
Inventories 299,092 227,248
Prepaid assets 48,236 48,047
Prepaid wafers 52,560 86,679
Other current assets 28,057 55,198
Total current assets 1,239,734 1,106,192
Long-term marketable securities 239,036 173,374
Right-of-use lease assets 126,688 138,288
Property and equipment, net 159,900 170,175
Intangibles, net 27,461 29,578
Goodwill 435,936 435,936
Deferred tax assets 48,150 48,649
Long-term prepaid wafers 15,512 60,750
Other assets 34,656 68,634
Total assets 2,327,073 2,231,576
Current liabilities:    
Accounts payable 63,162 55,545
Accrued salaries and benefits 52,075 47,612
Software license agreements 26,745 31,866
Current lease liabilities 21,811 20,640
Other accrued liabilities 31,395 30,730
Total current liabilities 195,188 186,393
Long-term liabilities:    
Non-current lease liabilities 121,908 134,576
Non-current income taxes 44,040 52,013
Software license agreements 16,488 41,073
Other long-term liabilities 0 507
Total long-term liabilities 182,436 228,169
Stockholders’ equity:    
Preferred stock, 5,000 shares authorized but unissued 0 0
Common stock, $0.001 par value, 280,000 shares authorized, 52,291 shares and 53,491 shares issued and outstanding at March 29, 2025 and March 30, 2024, respectively 52 53
Additional paid-in capital 1,860,229 1,760,648
Accumulated earnings 90,351 58,916
Accumulated other comprehensive loss (1,183) (2,603)
Total stockholders’ equity 1,949,449 1,817,014
Total liabilities and stockholders’ equity $ 2,327,073 $ 2,231,576
v3.25.1
Consolidated Balance Sheets (Parenthetical) - $ / shares
shares in Thousands
Mar. 29, 2025
Mar. 30, 2024
Statement of Financial Position [Abstract]    
Preferred stock, shares authorized (in shares) 5,000 5,000
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 280,000 280,000
Common stock, shares outstanding (in shares) 52,291 53,491
Common stock, shares issued (in shares) 52,291 53,491
v3.25.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Income Statement [Abstract]      
Net sales $ 1,896,077 $ 1,788,890 $ 1,897,617
Cost of sales 900,039 872,818 940,638
Gross profit 996,038 916,072 956,979
Operating expenses      
Research and development 434,684 426,475 458,412
Selling, general and administrative 150,995 144,172 153,144
Restructuring 0 1,959 10,632
Intangibles impairment 0 0 85,760
Total operating expenses 585,679 572,606 707,948
Income from operations 410,359 343,466 249,031
Interest income 33,984 21,493 9,985
Interest expense (898) (915) (898)
Other income (expense) 1,469 (108) (3,379)
Income before income taxes 444,914 363,936 254,739
Provision for income taxes 113,407 89,364 78,036
Net income $ 331,507 $ 274,572 $ 176,703
Basic earnings per share (in dollars per share) $ 6.24 $ 5.06 $ 3.18
Diluted earnings per share (in dollars per share) $ 6.00 $ 4.90 $ 3.09
Basic weighted average common shares outstanding (in shares) 53,135 54,290 55,614
Diluted weighted average common shares outstanding (in shares) 55,241 56,021 57,226
v3.25.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Statement of Comprehensive Income [Abstract]      
Net income $ 331,507 $ 274,572 $ 176,703
Other comprehensive income (loss), before tax      
Foreign currency translation loss (566) (850) (834)
Unrealized gain on marketable securities 2,514 996 430
Provision for income taxes (528) (210) (90)
Comprehensive income $ 332,927 $ 274,508 $ 176,209
v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Cash flows from operating activities:      
Net income $ 331,507 $ 274,572 $ 176,703
Adjustments to net cash provided by operating activities:      
Depreciation and amortization 50,951 48,292 71,202
Stock-based compensation expense 84,146 89,271 81,641
Deferred income taxes (31) (13,304) (34,513)
Loss on retirement or write-off of long-lived assets 382 76 656
Other non-cash charges 779 2,362 3,102
Restructuring 0 1,959 10,632
Intangibles impairment 0 0 85,760
Net change in operating assets and liabilities:      
Accounts receivable, net (53,531) (12,767) 89,791
Inventories (71,844) 6,204 (95,014)
Prepaid wafers 79,357 47,571 0
Other assets 7,261 18,303 1,852
Accounts payable 9,148 (23,943) (34,307)
Accrued salaries and benefits 4,463 (6,279) (15,108)
Income taxes payable 15,577 15,108 (6,019)
Acquisition-related liabilities 0 (21,361) 12,654
Other accrued liabilities (13,799) (4,390) (9,464)
Net cash provided by operating activities 444,366 421,674 339,568
Cash flows from investing activities:      
Maturities and sales of available-for-sale marketable securities 35,296 37,032 18,683
Purchases of available-for-sale marketable securities (130,827) (161,699) (15,299)
Purchases of property, equipment and software (22,776) (37,650) (35,090)
Investments in technology (5,977) (695) (1,624)
Net cash used in investing activities (124,284) (163,012) (33,330)
Cash flows from financing activities:      
Payment of acquisition-related holdback 0 0 (30,949)
Issuance of common stock, net of shares withheld for taxes 15,433 3,329 10,145
Repurchase of stock to satisfy employee tax withholding obligations (37,637) (19,016) (18,082)
Repurchase and retirement of common stock (261,022) (185,995) (191,382)
Net cash used in financing activities (283,226) (201,682) (230,268)
Net increase in cash and cash equivalents 36,856 56,980 75,970
Cash and cash equivalents at beginning of period 502,764 445,784 369,814
Cash and cash equivalents at end of period 539,620 502,764 445,784
Cash payments during the year for:      
Income taxes 51,709 43,377 91,955
Interest $ 404 $ 658 $ 537
v3.25.1
Consolidated Statements of Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-In Capital
Accumulated Earnings (Deficit)
Accumulated Other Comprehensive Income / (Loss)
Beginning balance (in shares) at Mar. 26, 2022   56,596      
Beginning balance at Mar. 26, 2022 $ 1,599,817 $ 57 $ 1,578,370 $ 23,435 $ (2,045)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 176,703     176,703  
Change in unrealized gain (loss) on marketable securities, net of tax 340       340
Change in foreign currency translation adjustments (834)       (834)
Issuance of stock under stock option plans and other, net of shares withheld for employee taxes (in shares)   861      
Issuance of stock under stock option plans and other, net of shares withheld for employee taxes (7,936) $ 1 10,141 (18,078)  
Repurchase and retirement of common stock (in shares)   (2,359)      
Repurchase and retirement of common stock (191,383) $ (3)   (191,380)  
Amortization of deferred stock compensation 81,575   81,575    
Ending balance (in shares) at Mar. 25, 2023   55,098      
Ending balance at Mar. 25, 2023 1,658,282 $ 55 1,670,086 (9,320) (2,539)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 274,572     274,572  
Change in unrealized gain (loss) on marketable securities, net of tax 786       786
Change in foreign currency translation adjustments (850)       (850)
Issuance of stock under stock option plans and other, net of shares withheld for employee taxes (in shares)   699      
Issuance of stock under stock option plans and other, net of shares withheld for employee taxes (15,680) $ 1 3,331 (19,012)  
Repurchase and retirement of common stock (in shares)   (2,306)      
Repurchase and retirement of common stock (187,327) $ (3)   (187,324)  
Amortization of deferred stock compensation $ 87,231   87,231    
Ending balance (in shares) at Mar. 30, 2024 53,491 53,491      
Ending balance at Mar. 30, 2024 $ 1,817,014 $ 53 1,760,648 58,916 (2,603)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 331,507     331,507  
Change in unrealized gain (loss) on marketable securities, net of tax 1,986       1,986
Change in foreign currency translation adjustments (566)       (566)
Issuance of stock under stock option plans and other, net of shares withheld for employee taxes (in shares)   1,124      
Issuance of stock under stock option plans and other, net of shares withheld for employee taxes (22,202) $ 1 15,435 (37,638)  
Repurchase and retirement of common stock (in shares)   (2,324)      
Repurchase and retirement of common stock (262,436) $ (2)   (262,434)  
Amortization of deferred stock compensation $ 84,146   84,146    
Ending balance (in shares) at Mar. 29, 2025 52,291 52,291      
Ending balance at Mar. 29, 2025 $ 1,949,449 $ 52 $ 1,860,229 $ 90,351 $ (1,183)
v3.25.1
Description of Business
 12 Months Ended
Mar. 29, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business Description of Business
Description of Business
Cirrus Logic, Inc. (“Cirrus Logic,” “We,” “Us,” “Our,” or the “Company”) is a leader in low-power, high-precision mixed-signal processing solutions that create innovative user experiences for the world’s top mobile and consumer applications.
We were incorporated in California in 1984, became a public company in 1989, and were reincorporated in the State of Delaware in February 1999. Our primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas. We also have offices in various other locations in the United States, United Kingdom, and Asia, including the People’s Republic of China, South Korea, Japan, Singapore, and Taiwan. Our common stock, which has been publicly traded since 1989, is listed on the NASDAQ's Global Select Market under the symbol CRUS.
Basis of Presentation
We prepare financial statements on a 52- or 53-week year that ends on the last Saturday in March. Fiscal years 2025 and 2023 were 52-week years. Fiscal year 2024 was a 53-week year.
Principles of Consolidation
The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated.
Use of Estimates
The preparation of financial statements in accordance with U.S. GAAP requires the use of management estimates. These estimates are subjective in nature and involve judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at fiscal year-end and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates.
v3.25.1
Summary of Significant Accounting Policies
 12 Months Ended
Mar. 29, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Cash and Cash Equivalents
Cash and cash equivalents consist primarily of money market funds, U.S. Government Treasury and Agency instruments with original maturities of three months or less at the date of purchase.
Leases
We account for leases under ASC 842, Leases. Our leases generally contain fixed rental payments, with additional variable payments linked to actual common area maintenance costs incurred by the landlord. These variable payments are not included within the lease liability and right-of-use ("ROU") asset, but are recognized as an expense when incurred. As our leases typically do not provide an implicit rate, the Company determines the Incremental Borrowing Rate ("IBR") for each lease based on the information available at the commencement date, taking into consideration necessary adjustments for collateral, currency, and lease term.
Operating leases in excess of 12 months are recognized on the balance sheet, with future lease payments recognized as a liability, measured at present value, and the ROU asset recognized for the lease term. Lease expense is recognized in the income statement over the lease term.
Inventories
Inventories are stated at the lower of cost or net realizable value on a first-in, first-out basis. Cost is computed using standard costs, which approximate actual cost. One of the factors we consistently evaluate in the application of this method is the extent to which products are accepted into the marketplace. By policy, we evaluate market acceptance based on known business factors and conditions by comparing forecasted customer unit demand for our products over a specific future period, or demand horizon, to quantities on hand at the end of each accounting period.
On a quarterly and annual basis, we analyze inventories on a part-by-part basis. Product life cycles and the competitive nature of the industry are factors considered in the evaluation of customer unit demand at the end of each quarterly accounting
period. Inventory on-hand in excess of forecasted demand is considered to have reduced market value and, therefore, the cost basis is adjusted to net realizable value. Typically, market values for excess or obsolete inventories are considered to be zero. Inventory charges recorded for excess and obsolete inventory, including scrapped inventory, were $4.2 million in fiscal year 2025, related to a combination of quality issues and inventory exceeding demand. Net inventory reserve releases of $1.0 million in fiscal year 2024, primarily related to the sale of previously reserved inventory, offset by charges for excess and obsolete inventory.

Inventories were comprised of the following (in thousands):
 
March 29, 2025March 30, 2024
Work in process$216,173 $130,842 
Finished goods82,919 96,406 
$299,092 $227,248 
Property, Plant and Equipment, net
Property, plant and equipment is recorded at cost, net of depreciation and amortization. Depreciation and amortization is calculated on a straight-line basis over estimated economic lives, ranging from 3 to 39 years. Leasehold improvements are depreciated over the shorter of the term of the lease or the estimated useful life. Furniture, fixtures, machinery, and equipment are all depreciated over a useful life of 3 to 10 years, while buildings are depreciated over a period of up to 39 years. In general, our capitalized software is amortized over a useful life of 3 years, with capitalized enterprise resource planning software being amortized over a useful life of 10 years. Gains or losses related to retirements or dispositions of fixed assets are recognized in the period incurred. Additionally, if impairment indicators exist, the Company will assess the carrying value in relation to the calculated fair value of the associated asset. There were no material disposal charges for property, plant and equipment in fiscal years 2025 or 2024.
Property, plant and equipment was comprised of the following (in thousands):
March 29, 2025March 30, 2024
Land$23,853 $23,853 
Buildings64,148 64,056 
Furniture and fixtures29,875 30,462 
Leasehold improvements80,683 81,118 
Machinery and equipment208,567 200,999 
Capitalized software21,709 23,092 
Construction in progress and other734 9 
Total property, plant and equipment429,569 423,589 
Less: Accumulated depreciation and amortization(269,669)(253,414)
Property, plant and equipment, net$159,900 $170,175 
Depreciation and amortization expense on property, plant, and equipment for fiscal years 2025, 2024, and 2023 was $31.1 million, $28.1 million, and $27.1 million, respectively.

Goodwill
Goodwill is recorded at the time of an acquisition and is calculated as the difference between the aggregate consideration paid for an acquisition and the fair value of the net tangible and intangible assets acquired. The Company tests goodwill for impairment on an annual basis or more frequently if the Company believes indicators of impairment exist. Impairment evaluations involve management’s assessment of qualitative factors to determine whether it is more likely than not that goodwill is impaired. If management concludes from its assessment of qualitative factors that it is more likely than not that impairment exists, then a quantitative impairment test will be performed involving management estimates of future cash flows. Significant management judgment is required in the forecasts of future operating results that are used in these evaluations. Following the quantitative test, an impairment charge would be recorded for the amount the carrying value exceeds the calculated fair value. We elected to perform the qualitative assessment of impairment for fiscal year 2025, and based on this assessment, we concluded it was not more likely than not that the fair value of the reporting unit was less than its carrying amount. The Company has recorded no goodwill impairment in fiscal years 2025, 2024, and 2023.
Long-Lived Assets
Intangible assets include purchased technology licenses and patents that are reported at cost and are amortized on a straight-line basis over their useful lives, generally ranging from 1 to 5 years. Acquired intangibles include existing technology, core technology or patents, license agreements, in-process research & development, trademarks, tradenames, customer relationships, and non-compete agreements. These assets are amortized on a straight-line basis over lives ranging from 1 to 15 years.
We regularly review whether facts or circumstances exist that indicate the carrying values of property, plant and equipment or other long-lived assets, including intangible assets, are impaired. We assess the recoverability of assets by comparing the projected undiscounted net cash flows associated with those assets to their respective carrying amounts. We measure any impairment loss by comparing the fair value of the asset to its carrying amount. We estimate fair value based on discounted future cash flows, quoted market prices, or independent appraisals. See Note 7 — Intangibles, net and Goodwill for further detail. There were no material intangible asset impairments recorded in fiscal years 2025 or 2024.
Foreign Currency Translation
Some of the Company's subsidiaries utilize the local currency as the functional currency. The Company’s main entities, including the entities that generate the majority of sales and employ the majority of employees, are U.S. dollar functional.
Concentration of Credit Risk
Financial instruments that potentially subject us to material concentrations of credit risk consist primarily of cash equivalents, marketable securities, long-term marketable securities, and trade accounts receivable. We are exposed to credit risk to the extent of the amounts recorded on the balance sheet. By policy, our cash equivalents, marketable securities, and long-term marketable securities are subject to certain nationally recognized credit standards, issuer concentrations, sovereign risk, and marketability or liquidity considerations.
In evaluating our trade receivables, we perform credit evaluations of our major customers’ financial condition and monitor closely all of our receivables to limit our financial exposure by limiting the length of time and amount of credit extended. In certain situations, we may require payment in advance or utilize letters of credit to reduce credit risk. By policy, we establish a reserve for trade accounts receivable based on the type of business in which a customer is engaged, the length of time a trade account receivable is outstanding, and other knowledge that we may possess relating to the probability that a trade receivable is at risk for non-payment.
We had two contract manufacturers aggregated at their parent level, Foxconn and Luxsan, who represented 41 percent and 21 percent, respectively, of our consolidated gross trade accounts receivable as of the end of fiscal year 2025. We had three contract manufacturers aggregated at their parent level, Foxconn, Luxshare Precision, and Pegatron, who represented 43 percent, 11 percent, and 10 percent, respectively, of our consolidated gross trade accounts receivable as of the end of fiscal year 2024. No other distributor or contract manufacturer had receivable balances that represented more than 10 percent of consolidated gross trade accounts receivable as of the end of fiscal year 2025 or 2024.
Since the components we produce are largely proprietary and generally not available from second sources, we consider our end customer to be the entity specifying the use of our component in their design. These end customers may then purchase our products directly from us, from a distributor, or through a third-party manufacturer contracted to produce their end product. For fiscal years 2025, 2024 and 2023, our ten largest end customers represented approximately 96 percent, 95 percent and 92 percent of our net sales, respectively. For fiscal years 2025, 2024, and 2023, we had one end customer, Apple Inc., who purchased through multiple contract manufacturers and represented approximately 89 percent, 87 percent, and 83 percent, of the Company’s total net sales, respectively. No other customer or distributor represented more than 10 percent of net sales in fiscal years 2025, 2024, or 2023.
Revenue Recognition
We recognize revenue upon the transfer of promised goods or services to customers, in an amount that reflects the consideration the Company expects to be entitled in exchange for those goods or services.
Performance Obligations
The Company’s single performance obligation is the delivery of promised goods to the customer. The promised goods are explicitly stated in the customer contract and are comprised of a single type of good. This performance obligation is satisfied upon transfer of control of the promised goods to the customer, as defined per the shipping terms within the customer’s contract. The vast majority of the Company’s contracts with customers have an original expected term of one year or less.
Contract balances
Payments are typically due within 30 to 60 days of invoicing and terms do not include a significant financing component or noncash consideration. There have been no material impairment losses on accounts receivable. There are no material contract liabilities recorded on the consolidated balance sheets.
Transaction price
The transaction price is the amount of consideration to which the Company expects to be entitled in exchange for transferring the promised goods to the customer. Fixed pricing is the consideration that is agreed upon in the customer contract. Variable pricing includes rights of return, price protection and stock rotation. Rights of return costs are estimated using the "most likely amount" method by reviewing historical returns to determine the most likely customer return rate and applying materiality thresholds. Price protection includes price adjustments available to certain distributors based upon established book price and a stated adjustment period. Stock rotation is also available to certain distributors based on a stated maximum of prior billings.
The Company estimates all variable consideration at the most likely amount which it expects to be entitled. The estimate is based on current and historical information available to the Company, including recent sales activity and pricing. Variable consideration is only included in the transaction price to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The Company defers all variable consideration that does not meet the revenue recognition criteria.
Shipping Costs
Our shipping and handling costs are included in cost of sales for all periods presented in the consolidated statements of income.
Advertising Costs
Advertising costs are expensed as incurred. Advertising costs were $0.3 million, $0.3 million, and $0.5 million, in fiscal years 2025, 2024, and 2023, respectively.
Stock-Based Compensation
Stock-based compensation is measured at the grant date based on the grant-date fair value of the awards and is recognized as an expense, on a ratable basis, over the vesting period, which is generally between 1 and 4 years. Determining the amount of stock-based compensation to be recorded requires the Company to develop estimates used in calculating the grant-date fair value of stock options and market stock units. The Company calculates the grant-date fair value for stock options and market stock units ("MSUs") using the Black-Scholes valuation model and the Monte Carlo simulation, respectively. The use of valuation models requires the Company to make estimates of assumptions such as expected volatility, expected term, risk-free interest rate, expected dividend yield, and forfeiture rates. The grant-date fair value of restricted stock units ("RSUs") is the market value at grant date multiplied by the number of units. The grant-date fair value of performance stock units ("PSUs") is the market value at grant date multiplied by the target number of award units.
Income Taxes
We are required to calculate income taxes in each of the jurisdictions in which we operate. This process involves calculating the actual current tax liability as well as assessing temporary differences in the recognition of income or loss for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included in our consolidated balance sheet. We record a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized.  The Company evaluates the ability to realize its deferred tax assets based on all the facts and circumstances, including projections of future taxable income and expiration dates of carryover tax attributes.
The calculation of our tax liabilities involves assessing uncertainties with respect to the application of complex tax rules and the potential for future adjustment of our uncertain tax positions by the U.S. Internal Revenue Service or other taxing jurisdiction. We recognize liabilities for uncertain tax positions based on the required two-step process. The first step requires us to determine if the weight of available evidence indicates that the tax position has met the threshold for recognition; therefore, we must evaluate whether it is more likely than not that the position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step requires us to measure the tax benefit of the tax position taken, or expected to be taken, in an income tax return as the largest amount that is more than 50 percent likely of being realized upon ultimate settlement. We reevaluate the uncertain tax positions each quarter based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, expirations of statutes of limitation, effectively settled issues under audit, and new audit activity. A change in the recognition step or measurement step would result in the recognition of a tax benefit or an additional charge to the tax provision in the period.
Although we believe the measurement of our liabilities for uncertain tax positions is reasonable, we cannot assure that the final outcome of these matters will not be different than what is reflected in the historical income tax provisions and accruals. If additional taxes are assessed as a result of an audit or litigation, it could have a material effect on our income tax provision and net income in the period or periods for which that determination is made. We operate within multiple taxing jurisdictions and are subject to audit in these jurisdictions. These audits can involve complex issues which may require an extended period of time to resolve and could result in additional assessments of income tax. We believe adequate provisions for income taxes have been made for all periods. See Note 17 - Income Taxes for further detail.
Government Assistance
The Company benefits from the Research and Development Expenditure Credit (“RDEC”) program in the United Kingdom. The RDEC is recorded as an offset to research and development expenses in the consolidated statements of income, $43.0 million, $40.9 million, and $26.2 million in fiscal years 2025, 2024, and 2023, respectively. The RDEC is first settled against the Company's United Kingdom quarterly income tax payments with any remainder paid in cash on an annual basis. The RDEC receivable as of March 30, 2024 totaled $27.9 million, presented within "Other current Assets" on the consolidated balance sheets. There was no RDEC receivable as of March 29, 2025. While the duration of RDEC benefits is indefinite, the program is subject to future policy changes and RDEC claims are subject to regular audits by the United Kingdom government.
Net Income Per Share
Basic net income per share is based on the weighted effect of common shares issued and outstanding and is calculated by dividing net income by the basic weighted average shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average number of common shares used in the basic net income per share calculation, plus the equivalent number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding. These potentially dilutive items consist primarily of outstanding stock options and restricted stock grants.
The following table details the calculation of basic and diluted earnings per share for fiscal years 2025, 2024, and 2023, (in thousands, except per share amounts):
 
 Fiscal Years Ended
March 29, 2025March 30, 2024March 25, 2023
Numerator:
Net income$331,507 $274,572 $176,703 
Denominator:
Weighted average shares outstanding53,135 54,290 55,614 
Effect of dilutive securities2,106 1,731 1,612 
Weighted average diluted shares55,241 56,021 57,226 
Basic earnings per share$6.24 $5.06 $3.18 
Diluted earnings per share$6.00 $4.90 $3.09 
The weighted outstanding shares excluded from our diluted calculation for the years ended March 29, 2025, March 30, 2024, and March 25, 2023 were 225 thousand, 325 thousand, and 268 thousand, respectively, as the exercise price of certain outstanding stock options exceeded the average market price during the period.
Accumulated Other Comprehensive Loss
Our accumulated other comprehensive loss is comprised of foreign currency translation adjustments and unrealized gains and losses on investments classified as available-for-sale. See Note 16 — Accumulated Other Comprehensive Loss for additional discussion.
Recently Adopted Accounting Pronouncements
In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU requires interim and annual disclosure of significant segment expenses that are regularly provided to the CODM and included within each reported measure of a segment’s profit or loss, requires interim disclosures about a reportable segment’s profit or loss and assets that are currently required annually and requires disclosure of the position and title of the CODM and how the CODM uses segment profit or loss information in assessing segment performance and deciding how to allocate resources. In the event the CODM uses more than one measure of a segment's profit or loss in assessing performance and allocation of resources, clarification of disclosure requirements is provided. Additionally, a company with a single reportable segment is required to provide all the disclosures prescribed under this ASU. The guidance is
effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, to be applied retrospectively to all periods presented. The Company retrospectively adopted this standard for the fiscal year ending March 29, 2025. See Note 18 - Segment Information. The adoption of this standard had no impact on our results of operations, cash flows or financial position.
Recently Issued Accounting Pronouncements
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. The guidance provides qualitative and quantitative updates to the rate reconciliation and income taxes paid disclosures, requiring more consistent categories and greater disaggregation of information by jurisdiction. This ASU is effective for financial statements issued for annual periods beginning after December 15, 2024, with early adoption permitted, to be applied on a prospective basis, although retrospective application is also permitted. The Company is currently evaluating the impact of this guidance on financial statement disclosures.
In November 2024, FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Topic 220-40): Disaggregation of Income Statement Expenses, which requires disaggregation of certain expense categories in the notes to the financial statements in order to provide enhanced transparency into the expense captions presented on the face of the income statement. The amendments are effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption and prospective or retrospective application permitted. The Company is currently evaluating the impact of this guidance on financial statement disclosures.
v3.25.1
Marketable Securities
 12 Months Ended
Mar. 29, 2025
Marketable Securities [Abstract]  
Marketable Securities Marketable Securities
The Company’s investments have been classified as available-for-sale securities in accordance with U.S. GAAP. Marketable securities are categorized on the consolidated balance sheet as “Marketable securities” within the short-term or long-term classification, as appropriate.
The following table is a summary of available-for-sale securities (in thousands):
 
As of March 29, 2025Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Estimated Fair Value
(Net Carrying Amount)
Corporate debt securities$284,885 $1,635 $(55)$286,465 
U.S. Treasury securities8,689 45 (3)8,731 
Total securities$293,574 $1,680 $(58)$295,196 

The Company typically invests in highly-rated securities with original maturities generally ranging from one to three years. The Company's specifically identified gross unrealized losses of $0.1 million related to securities with total amortized costs of approximately $29.8 million at March 29, 2025. Securities in a continuous unrealized loss position for more than 12 months as of March 29, 2025 had an aggregate amortized cost of $1.9 million and an immaterial aggregate unrealized loss. The Company may sell certain of its marketable securities prior to their stated maturities for strategic reasons including, but not limited to, anticipated or actual changes in credit rating and duration management.  The Company records an allowance for credit loss when a decline in investment market value is due to credit-related factors. When evaluating an investment for impairment, the Company reviews factors including the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, changes in market interest rates and whether it is more likely than not the Company will be required to sell the investment before recovery of the investment’s cost basis. As of March 29, 2025, the Company does not consider any of its investments to be impaired.
 
As of March 30, 2024Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Estimated Fair Value
(Net Carrying Amount)
Corporate debt securities$186,194 $115 $(916)$185,393 
U.S. Treasury securities9,850 — (81)9,769 
Agency discount notes1,135 — (11)1,124 
Commercial paper866 — — 866 
Total securities$198,045 $115 $(1,008)$197,152 
The Company’s specifically identified gross unrealized losses of $1.0 million related to securities with total amortized costs of approximately $172.1 million at March 30, 2024. Securities in a continuous unrealized loss position for more than 12
months as of March 30, 2024 had an aggregate amortized cost of $25.0 million and an aggregate unrealized loss of $0.3 million as of March 30, 2024. As of March 30, 2024, the Company did not consider any of its investments to be impaired.
The cost and estimated fair value of available-for-sale investments by contractual maturity were as follows:
 
 March 29, 2025March 30, 2024
Amortized
Cost		Estimated
Fair Value		Amortized
Cost		Estimated
Fair Value
Within 1 year$56,044 $56,160 $24,071 $23,778 
After 1 year237,530 239,036 173,974 173,374 
Total$293,574 $295,196 $198,045 $197,152 
v3.25.1
Fair Value of Financial Instruments
 12 Months Ended
Mar. 29, 2025
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
The Company has determined that the assets and liabilities in the Company’s financial statements that are required to be measured at fair value on a recurring basis are the Company’s cash equivalents and marketable securities portfolio. The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).
▪Level 1 — Quoted prices in active markets for identical assets or liabilities.
▪Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
▪Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
The Company’s cash equivalents and marketable securities portfolio consist of money market funds, commercial paper, debt securities, non-U.S government securities, U.S Treasury securities, and securities of U.S. government-sponsored enterprises, and are reflected on our consolidated balance sheet under the headings cash and cash equivalents, marketable securities, and long-term marketable securities. The Company determines the fair value of its marketable securities portfolio by obtaining non-binding market prices from its third-party pricing providers on the last day of the quarter, whose sources may use quoted prices in active markets for identical assets (Level 1 inputs) or inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs) in determining fair value.
The Company’s long-term revolving facility, described in Note 8 - Revolving Credit Facility, bears interest at a base rate plus applicable margin or forward-looking secured overnight financing rate ("Term SOFR") plus 10 basis points plus applicable margin.  As of March 29, 2025, there are no amounts drawn under the facility and the fair value is zero.
As of March 29, 2025 and March 30, 2024, the Company has no material Level 3 assets or liabilities. There were no transfers between Level 1, Level 2, or Level 3 measurements for the years ending March 29, 2025 and March 30, 2024.
The following summarizes the fair value of our financial instruments at March 29, 2025 (in thousands):
 
Quoted Prices
in Active
Markets for
Identical
Assets
Level 1		Significant
Other
Observable
Inputs
Level 2		Significant
Unobservable
Inputs
Level 3		Total
Assets:
Cash equivalents
Money market funds$491,467 $— $— $491,467 
Available-for-sale securities
Corporate debt securities$— $286,465 $— $286,465 
U.S. Treasury securities8,731 — — 8,731 
$8,731 $286,465 $— $295,196 

The following summarizes the fair value of our financial instruments at March 30, 2024 (in thousands):
Quoted Prices
in Active
Markets for
Identical
Assets
Level 1		Significant
Other
Observable
Inputs
Level 2		Significant
Unobservable
Inputs
Level 3		Total
Assets:
Cash equivalents
Money market funds$439,065 $— $— $439,065 
Certificates of deposit— 400 — 400 
$439,065 $400 $— $439,465 
Available-for-sale securities
Corporate debt securities$— $185,393 $— $185,393 
U.S. Treasury securities9,769 — — 9,769 
Agency discount notes— 1,124 — 1,124 
Commercial paper$— $866 $— $866 
$9,769 $187,383 $— $197,152 
v3.25.1
Derivative Financial Instruments
 12 Months Ended
Mar. 29, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
Foreign Currency Forward Contracts
The Company uses foreign currency forward contracts to reduce the earnings impact that exchange rate fluctuations have on non-functional currency balance sheet exposures. The Company recognizes both the gains and losses on foreign currency forward contracts and the gains and losses on the remeasurement of non-functional currency assets and liabilities within "Other income (expense)" in the consolidated statements of income. The Company does not apply hedge accounting to these foreign currency derivative instruments.
As of March 29, 2025, the Company held one foreign currency forward contract denominated in British Pound Sterling with a notional value of $21.5 million. The fair value of this contract was not material as of March 29, 2025.

The before-tax effect of derivative instruments not designated as hedging instruments was as follows (in thousands):
Fiscal Years Ended
March 29, 2025March 30, 2024March 25, 2023Location
Loss recognized in income
Foreign currency forward contracts$(2)$(431)$(564)Other income (expense)
v3.25.1
Accounts Receivable, net
 12 Months Ended
Mar. 29, 2025
Accounts Receivable, after Allowance for Credit Loss [Abstract]  
Accounts Receivable, net Accounts Receivable, net
The following are the components of accounts receivable, net (in thousands):
 
March 29, 2025March 30, 2024
Gross accounts receivable$216,009 $162,478 
Allowance for doubtful accounts— — 
Accounts receivable, net$216,009 $162,478 
The Company regularly evaluates the collectability of accounts receivable based on age, historical customer payment trends and ongoing customer relations. The allowance for doubtful accounts and recoveries on bad debt were immaterial for fiscal years 2025, 2024, and 2023.
v3.25.1
Intangibles, net and Goodwill
 12 Months Ended
Mar. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangibles, net and Goodwill Intangibles, net and Goodwill
The following information details the gross carrying amount, accumulated amortization, and net carrying value of our intangible assets subject to amortization (in thousands): 
 March 29, 2025March 30, 2024
Intangible Category /
Weighted-Average Remaining Amortization
Period (in years)		Gross
Amount		Accumulated
Amortization		Net Carrying ValueGross
Amount		Accumulated
Amortization		Net Carrying Value
Existing technology (3.3)
146,146 (124,183)21,963 146,146 (117,595)28,551 
Customer relationships (a)
15,381 (15,381)— 15,381 (14,840)541 
Technology licenses (9.2)
16,029 (10,531)5,498 10,692 (10,206)486 
Total$177,556 $(150,095)$27,461 $172,219 $(142,641)$29,578 
 
(a)Intangible assets are fully amortized as of March 29, 2025.


Amortization expense for intangibles in fiscal years 2025, 2024, and 2023 was $7.6 million, $9.0 million, and $33.7 million, respectively. The following table details the estimated aggregate amortization expense for all intangibles owned as of March 29, 2025, for each of the five succeeding fiscal years and in the aggregate thereafter (in thousands):
 
Fiscal Year
2026$7,290 
2027$7,210 
2028$7,057 
2029$2,613 
2030$417 
Thereafter$2,874 
The goodwill balance included on the consolidated balance sheet was $435.9 million and $435.9 million at March 29, 2025 and March 30, 2024, respectively.
v3.25.1
Revolving Credit Facility
 12 Months Ended
Mar. 29, 2025
Debt Disclosure [Abstract]  
Revolving Credit Facility Revolving Credit Facility
On July 8, 2021, the Company entered into a second amended and restated credit agreement (the “Second Amended Credit Agreement”) with Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto. The Second Amended Credit Agreement provides for a $300 million senior secured revolving credit facility (the “Revolving Credit Facility”). The Revolving Credit Facility matures on July 8, 2026 (the “Maturity Date”). The Revolving Credit Facility is required to be guaranteed by all of Cirrus Logic’s material domestic subsidiaries (the "Subsidiary Guarantors"). The Revolving Credit Facility is secured by substantially all the assets of Cirrus Logic and any Subsidiary Guarantors, except for certain excluded assets.
On March 20, 2023, the Company, entered into the First Amendment (the "Amendment") to its Second Amended Credit Agreement, with the lending institutions party thereto and Wells Fargo Bank, National Association, as administrative agent. The Amendment updates the benchmark interest rate provisions to replace the London interbank offered rate ("LIBOR") with the forward-looking secured overnight financing rate ("Term SOFR"), for the purposes of calculating interest under the terms of the Second Amended Credit Agreement.
Borrowings under the Revolving Credit Facility may, at Cirrus Logic’s election, bear interest at either (a) a base rate plus the applicable margin ("Base Rate Loans") or (b) a Term SOFR rate plus a 10 basis point credit spread adjustment plus the applicable margin. The applicable margin ranges from 0% to 0.75% per annum for Base Rate Loans and 1.00% to 1.75% per annum for SOFR Loans based on the ratio of consolidated funded indebtedness to consolidated EBITDA for the most recently ended period of four consecutive fiscal quarters (the “Consolidated Leverage Ratio”). A Commitment Fee accrues at a rate per annum ranging from 0.175% to 0.275% (based on the Consolidated Leverage Ratio) on the average daily unused portion of the commitment of the lenders.
The Revolving Credit Facility contains certain financial covenants providing that (a) the ratio of consolidated funded indebtedness (minus up to $200 million of unrestricted cash and cash equivalents available on such date) to consolidated EBITDA for the prior four consecutive quarters must not be greater than 3.00 to 1.00 (the “Consolidated Net Leverage Ratio”) and (b) the ratio of consolidated EBITDA for the prior four consecutive quarters to consolidated interest expense paid or payable in cash for the prior four consecutive quarters must not be less than 3.00 to 1.00 (the “Consolidated Interest Coverage Ratio”). The Second Amended Credit Agreement also contains negative covenants limiting the Company's or any Subsidiary's ability to, among other things, incur debt, grant liens, make investments, effect certain fundamental changes, make certain asset dispositions, and make certain restricted payments. Further, the Second Amended Credit Agreement contains customary affirmative covenants, including, among others, covenants regarding the payment of taxes and other obligations, maintenance of insurance, reporting requirements, and compliance with applicable laws and regulations.
As of March 29, 2025, the Company had no amounts outstanding under the Revolving Credit Facility and was in compliance with all covenants under the Second Amended Credit Agreement. 
As of March 29, 2025, future interest payment obligations based on forecasted commitment fees under the Revolving Credit Facility were as follows (in thousands):  

Fiscal Year
2026$532 
2027277 
2028— 
2029— 
2030— 
Thereafter— 
Total$809 
v3.25.1
Revenues
 12 Months Ended
Mar. 29, 2025
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Disaggregation of revenue
We disaggregate revenue from contracts with customers by product line and ship to location of the customer. Sales are designated in the product line categories of Audio and High-Performance Mixed-Signal ("HPMS").
Total net sales based on the product line disaggregation criteria described above are shown in the table below (in thousands).
Fiscal Years Ended
March 29, 2025March 30, 2024March 25, 2023
Audio Products$1,137,157 $1,083,939 $1,172,007 
HPMS Products758,920 704,951 725,610 
Total$1,896,077 $1,788,890 $1,897,617 

The geographic regions that are reviewed are China, the United States, and the rest of the world.
Total net sales based on the geographic disaggregation criteria described are as follows (in thousands):

Fiscal Years Ended
March 29,March 30,March 25,
202520242023
China$1,126,367 $1,114,310 $1,230,602 
United States15,838 17,971 52,688 
Rest of World753,872 656,609 614,327 
Total$1,896,077 $1,788,890 $1,897,617 

See Note 2 - Summary of Significant Accounting Policies for additional discussion surrounding revenue recognition considerations.
v3.25.1
Leases
 12 Months Ended
Mar. 29, 2025
Leases [Abstract]  
Leases Leases
The Company has operating leases for corporate offices and certain office equipment. Our leases have remaining lease terms of 1 year to 24 years, some of which include options to extend the leases that are considered reasonably certain to be exercised. There are no residual value guarantees in any of our leases. No restrictions or covenants have been imposed on the Company as a result of the lease agreements in place. All of the Company’s leases have been classified as operating leases.

The components of net operating lease expense were as follows (in thousands):
Fiscal Years Ended
March 29, 2025March 30, 2024
Operating lease - in excess of 12 months$19,750 $17,498 
Variable lease6,137 5,259 
Short-term lease351 853 
Operating lease income(944)(164)
Total net operating lease expense$25,294 $23,446 
Supplemental operating lease information:
Fiscal Years Ended
March 29, 2025March 30, 2024
Balance Sheet Information (in thousands)
Operating lease right-of-use assets$126,688 $138,288 
Operating lease liabilities$143,719 $155,216 
Cash Flow Information (in thousands)
Operating cash outflows from operating leases$21,965 $19,189 
Non-Cash Information
Right-of-use assets obtained in exchange for new operating lease liabilities3,538 24,784 
Lease remeasurements(1,078)(1,606)
Lease impairments and other related charges— (563)
Operating Lease Information
Weighted-average remaining lease term - operating leases (in years)1112
Weighted-average discount rate - operating leases4 %4 %
As of March 29, 2025, we have an additional operating lease that has not yet commenced with an estimated lease obligation of approximately $5 million. This operating lease will commence in fiscal year 2026 with a lease term of approximately 10 years.
Future lease commitments and income under non-cancellable leases, including extension options reasonably anticipated to be exercised as of March 29, 2025, are as follows (in thousands):

Fiscal YearOperating Lease CommitmentsOperating Lease Income
2026$21,915 $(1,578)
202719,239 (1,889)
202819,702 (2,029)
202919,487 (1,418)
203016,945 — 
Thereafter86,104 — 
Total$183,392 $(6,914)
Less imputed interest and other(39,673)— 
Total$143,719 $(6,914)

Operating lease liabilities consisted of the following (in thousands):
March 29, 2025March 30, 2024
Current lease liabilities$21,811 $20,640 
Non-current lease liabilities121,908 134,576 
Total operating lease liabilities$143,719 $155,216 
v3.25.1
Postretirement Benefit Plans
 12 Months Ended
Mar. 29, 2025
Retirement Benefits [Abstract]  
Postretirement Benefit Plans Postretirement Benefit Plans
We have Defined Contribution Plans (“the Plans”) covering all of our qualifying employees. Under the Plans, employees may elect to contribute any percentage of their annual compensation up to the annual regulatory limits. The Company made matching employee contributions of $11.3 million, $11.0 million, and $10.2 million during fiscal years 2025, 2024, and 2023, respectively.
v3.25.1
Equity Compensation
 12 Months Ended
Mar. 29, 2025
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Equity Compensation Equity Compensation
The Company is currently granting equity awards from the 2018 Long Term Incentive Plan (the “Plan”), which was approved by stockholders in August 2018 and subsequently amended and restated on July 26, 2024. The Plan provides for granting of stock options, restricted stock awards, restricted stock units, performance awards, and bonus stock awards, or any combination of the foregoing.  To date, the Company has granted stock options, restricted stock units, and performance awards (including market stock units and performance stock units). Each stock option granted reduces the total shares available for grant under the Plan by one share. Each full value award granted (including restricted stock awards, restricted stock units, market stock units, and performance stock units) reduces the total shares available for grant under the Plan by 1.5 shares. Stock options generally vest between one and four years, and are exercisable for a period of ten years from the date of grant.  Restricted stock units are generally subject to vesting from one to three years, depending upon the terms of the grant. Market stock units are subject to a vesting schedule of three years. Performance stock units are generally subject to vesting from one to three years, depending upon the terms of the grant.
The following table summarizes the activity in total shares available for grant (in thousands):
 
 Shares
 Available for
 Grant
Balance, March 26, 20222,617 
Shares added2,090 
Granted(2,536)
Forfeited303 
Balance, March 25, 20232,474 
Shares added— 
Granted(1,813)
Forfeited317 
Balance, March 30, 2024978 
Shares added2,670 
Granted(1,322)
Forfeited214 
Balance, March 29, 20252,540 
Stock-based Compensation Expense

The following table summarizes the effects of stock-based compensation on cost of goods sold, research and development, sales, general and administrative, pre-tax income, and net income after taxes for shares granted under the Plan (in thousands, except per share amounts):
 
 Fiscal Year
 202520242023
Cost of sales$1,332 $1,403 $1,270 
Research and development59,184 63,678 57,312 
Sales, general and administrative23,630 24,190 23,059 
Effect on pre-tax income84,146 89,271 81,641 
Income Tax Benefit(19,152)(20,646)(15,184)
Total stock-based compensation expense (net of taxes)64,994 68,625 66,457 
Stock-based compensation effects on basic earnings per share$1.22 $1.26 $1.19 
Stock-based compensation effects on diluted earnings per share1.18 1.22 1.16 

The total stock-based compensation expense included in the table above and which is attributable to restricted stock units, performance based stock units, and market stock units was $80.7 million, $85.1 million, $78.0 million, for fiscal years 2025, 2024, and 2023, respectively. Stock-based compensation expense is presented within operating activities in the consolidated statement of cash flows.
As of March 29, 2025, there was $138.7 million of compensation costs related to non-vested stock options, restricted stock units, market stock units, and performance stock units granted under the Company’s equity incentive plans not yet recognized in the Company’s financial statements. The unrecognized compensation cost is expected to be recognized over a weighted average period of 1.48 years for stock options, 1.45 years for restricted stock units, 1.92 years for market stock units, and 2.16 years for performance stock units.
In addition to the income tax benefit of stock-based compensation expense shown in the table above, the Company recognized excess tax benefits of $9.4 million, $0.2 million and $1.4 million in fiscal years 2025, 2024, and 2023 respectively.


Stock Options
We estimate the fair value of each stock option on the date of grant using the Black-Scholes option-pricing model using a dividend yield of zero and the following additional assumptions:

 
March 29, 2025March 30, 2024March 25, 2023
Expected stock price volatility
35.70%
34.53% - 39.92%
35.18% - 46.50%
Risk-free interest rate
4.33%
3.99% - 4.11%
2.47% - 3.96%
Expected term (in years)
3.73
3.85 - 4.07
4.04 - 4.33
The Black-Scholes valuation calculation requires us to estimate key assumptions such as stock price volatility, expected term, risk-free interest rate and dividend yield. The expected stock price volatility is based upon implied volatility from traded options on our stock in the marketplace. The expected term of options granted is derived from an analysis of historical exercises and remaining contractual life of stock options, and represents the period of time that options granted are expected to be outstanding after becoming vested. The risk-free interest rate reflects the yield on zero-coupon U.S. Treasury securities for a period that is commensurate with the expected term assumption. Finally, we have never paid cash dividends, do not currently intend to pay cash dividends, and thus have assumed a zero percent dividend yield.
Using the Black-Scholes option valuation model, the weighted average estimated fair values of stock options granted in fiscal years 2025, 2024, and 2023, were $54.04, $39.61, and $42.37, respectively.
During fiscal years 2025, 2024, and 2023, we received a net $15.4 million, $3.3 million, and $10.1 million, respectively, from the exercise of 0.3 million, 0.1 million, and 0.2 million, respectively, stock options granted under the Company’s Stock Plan.
The total intrinsic value of stock options exercised during fiscal year 2025, 2024, and 2023, was $14.7 million, $2.8 million, and $11.4 million, respectively. Intrinsic value represents the difference between the market value of the Company’s common stock at the time of exercise and the strike price of the stock option.
Additional information with respect to stock option activity is as follows (in thousands, except per share amounts):
 
 Outstanding Options
NumberWeighted
Average
Exercise Price
Balance, March 26, 2022820 $57.75 
Options granted143 96.33 
Options exercised(225)45.10 
Options forfeited(18)71.14 
Options expired— — 
Balance, March 25, 2023720 $69.03 
Options granted132 92.69 
Options exercised(66)50.39 
Options forfeited— — 
Options expired— — 
Balance, March 30, 2024786 $74.56 
Options granted4 129.24 
Options exercised(257)59.93 
Options forfeited(29)91.26 
Options expired— — 
Balance, March 29, 2025504 $81.53 
Additional information with regards to outstanding options that are vesting, expected to vest, or exercisable as of March 29, 2025 is as follows (in thousands, except years and per share amounts):
 
Number of
Options		Weighted
Average
Exercise price		Weighted Average
Remaining Contractual
Term (years)		Aggregate
Intrinsic Value
Vested and expected to vest495 $81.27 6.63$9,404 
Exercisable337 $74.72 5.87$8,497 
In accordance with U.S. GAAP, stock options outstanding that are expected to vest are presented net of estimated future option forfeitures, which are estimated as compensation costs are recognized. Options with a fair value of $4.3 million, $4.2 million, and $3.0 million, became vested during fiscal years 2025, 2024, and 2023, respectively.
The following table summarizes information regarding outstanding and exercisable options as of March 29, 2025 (in thousands, except per share amounts):
 
 Options OutstandingOptions Exercisable
Weighted Average
Remaining
Contractual Life		Weighted
Average Exercise		NumberWeighted
Average
Range of Exercise PricesNumber(years)PriceExercisableExercise Price
$31.25 - $68.43
88 3.32$44.27 88 $44.27 
$68.56 - $78.00
95 5.4474.51 95 74.51 
$79.16 - $88.00
111 7.0085.69 80 85.76 
$93.24
113 8.8793.24 28 93.24 
$102.37
93 7.86102.37 46 102.37 
$129.24
4 9.33129.24 — — 
504 6.66$81.53 337 $74.72 
As of March 29, 2025, March 30, 2024, and March 25, 2023, the number of options exercisable was 0.3 million, 0.5 million, and 0.5 million respectively.
Restricted Stock Units
Restricted stock units (“RSUs”) are valued as of the grant date and amortized over the requisite vesting period. Generally, RSUs vest 100 percent on the first to third anniversary of the grant date depending on the vesting specifications. A summary of the activity for RSUs in fiscal year 2025, 2024, and 2023 is presented below (in thousands, except per share amounts):
 
SharesWeighted
Average
Fair Value
March 26, 20222,576 $74.45 
Granted1,574 75.97 
Vested(877)70.02 
Forfeited(183)75.58 
March 25, 20233,090 $76.42 
Granted1,099 71.12 
Vested(879)73.54 
Forfeited(211)75.70 
March 30, 20243,099 $75.41 
Granted711 105.87 
Vested(1,163)81.45 
Forfeited(115)78.41 
March 29, 20252,532 $81.04 

The aggregate intrinsic value of RSUs outstanding as of March 29, 2025, March 30, 2024, and March 25, 2023 was $252.0 million, $286.9 million, and $326.3 million, respectively. Intrinsic value is calculated using the closing stock price on the last day of trading in fiscal 2025. Additional information with regards to outstanding RSUs that are expected to vest as of March 29, 2025, is as follows (in thousands, except year and per share amounts):
 
SharesWeighted
Average
Fair Value		Weighted Average
Remaining Contractual
Term (years)
Expected to vest2,396 $80.75 1.43
RSUs outstanding that are expected to vest are presented net of estimated future forfeitures, which are estimated as compensation costs are recognized. RSUs with a fair value of $94.7 million, $64.6 million, and $61.4 million became vested during fiscal years 2025, 2024, and 2023, respectively. The majority of RSUs that vested in 2025, 2024 and 2023 were net settled such that the Company withheld a portion of the shares to satisfy tax withholding requirements. In fiscal years 2025, 2024, and 2023 the vesting of RSUs reduced the authorized and unissued share balance by approximately 1.2 million, 0.9 million, and 0.9 million, respectively. Total shares withheld and subsequently retired out of the Plan were approximately 0.3 million, 0.3 million, and 0.2 million and total payments for the employees’ tax obligations to taxing authorities were $36.4 million, $18.9 million, and $18.0 million for fiscal years 2025, 2024, and 2023, respectively.
Market Stock Units
Market stock units (“MSUs”) granted prior to February 2024 vest based upon the relative total shareholder return (“TSR”) of the Company as compared to that of the Philadelphia Semiconductor Index, while MSUs granted after February 2024 vest based on the TSR of the Company as compared to that of the Russell 3000 Index (collectively referred to as the "Indexes". The requisite service period for these MSUs is also the vesting period, which is three years. The fair value of each MSU granted was determined on the date of grant using the Monte Carlo simulation, which calculates the present value of the potential outcomes of future stock prices of the Company and the Indexes over the requisite service period. The fair value is based on the risk-free rate of return, the volatility of the stock price of the Company and the Indexes, the correlation of the stock price of the Company with the Indexes, and the dividend yield.
The fair values estimated from the Monte Carlo simulation were calculated using a dividend yield of zero and the following additional assumptions:
 
 Fiscal Years Ended
March 29,
2025		March 30,
2024		March 25,
2023
Expected stock price volatility
39.34% - 41.61%
34.53%
35.18% - 46.50%
Risk-free interest rate
3.97% - 4.15%
4.12%
2.67% - 3.92%
Expected term (in years)3.003.003.00

Using the Monte Carlo simulation, the weighted average estimated fair value of the MSUs granted in fiscal year 2025 was $151.8. A summary of the activity for MSUs in fiscal year 2025, 2024, and 2023 is presented below (in thousands, except per share amounts):
 
SharesWeighted
Average
Fair Value
March 26, 202285 $95.75 
Granted38 135.87 
Vested(10)87.43 
Forfeited(24)94.80 
March 25, 202389 $113.83 
Granted35 141.48 
Vested(9)83.96 
Forfeited(14)83.96 
March 30, 2024101 $130.46 
Granted59 151.80 
Vested(47)109.18 
Forfeited(9)128.36 
March 29, 2025104 $152.23 
The aggregate intrinsic value of MSUs outstanding as of March 29, 2025, March 30, 2024, and March 25, 2023 was $10.4 million, $9.4 million, and $9.3 million, respectively. Intrinsic value is calculated using the closing stock price on the last day of trading in fiscal 2025. Additional information with regard to outstanding MSUs that are expected to vest as of March 29, 2025 is as follows (in thousands, except year and per share amounts):

 
SharesWeighted
Average
Fair Value		Weighted Average
Remaining Contractual
Term (years)
Expected to vest97 $151.73 1.89
MSUs with a fair value of $5.1 million, $0.8 million, and $0.8 million became vested during fiscal year 2025, 2024, and 2023 respectively.
Performance Stock Units
Performance stock units ("PSUs") consist of performance-based restricted stock units subject to a three-fiscal-year performance period, with annual vesting based on performance achieved each fiscal year. The number of shares earned is based on the Company’s strategic revenue during fiscal year 2026 and the year-over-year growth of such strategic revenue over fiscal years 2027 and 2028 relative to goals established by the Compensation Committee. PSUs are valued at the Company's closing stock price on the date of grant.
A summary of the activity for PSUs in fiscal year 2025 is presented below (in thousands, except per share amounts):

SharesWeighted Average Fair Value
March 30, 2024— $— 
Granted109 104.41 
Vested— — 
Forfeited— — 
March 29, 2025109 $104.41 


The aggregate intrinsic value of PSUs outstanding as of March 29, 2025 was $10.9 million, which is calculated using the closing stock price on the last day of trading in fiscal 2025. Additional information with regard to outstanding PSUs that are expected to vest as of March 29, 2025 is as follows (in thousands, except year and per share amounts):

 
SharesWeighted Average Fair ValueWeighted Average Remaining Contractual Term (years)
Expected to vest100 $104.41 2.14
No PSUs vested during fiscal year 2025.
v3.25.1
Commitments and Contingencies
 12 Months Ended
Mar. 29, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Facilities and Equipment Under Operating Lease Agreements
We currently own our corporate headquarters and select surrounding properties. We lease certain of our other facilities and certain equipment under operating lease agreements, some of which have renewal options. Certain of these arrangements provide for lease payment increases based upon future fair market rates. As of March 29, 2025, our principal facilities are located in Austin, Texas and Edinburgh, Scotland, United Kingdom.
Total rent expense under operating leases was approximately $26.2 million, $23.6 million, and $24.4 million, for fiscal years 2025, 2024, and 2023, respectively. Rental income was $0.9 million, $0.2 million, and $0.5 million, for fiscal years 2025, 2024, and 2023, respectively.
See Note 10 - Leases for minimum future rental commitments and income under all operating leases as of March 29, 2025.
Capacity Reservation Agreement
On July 28, 2021, the Company entered into a Capacity Reservation and Wafer Supply Commitment Agreement (the “Capacity Reservation Agreement”) with GLOBALFOUNDRIES Singapore Pte. Ltd. (“GlobalFoundries”) to provide the Company a wafer capacity commitment and wafer pricing for Company products for calendar years 2022-2026 (the “Commitment Period”). On February 18, 2025, the Capacity Reservation Agreement was amended (the "Amendment") to define the quarterly spread of the remaining wafer quantities under the agreement.
The Capacity Reservation Agreement requires GlobalFoundries to provide, and the Company to purchase, a defined number of wafers on a quarterly basis for the Commitment Period, subject to shortfall payments. In exchange for GlobalFoundries’ capacity commitment, the Company paid a $60 million non-refundable capacity reservation fee, which is amortized over the Commitment Period. The balance of this reservation fee is $16 million as of March 29, 2025, and is recorded in "Other current assets" and "Other assets" on the consolidated balance sheets within the short-term or long-term classification, as appropriate. In addition, the Company pre-paid GlobalFoundries $195 million for future wafer purchases, which are credited back to the Company as a portion of the price of wafers purchased, which began in the Company's second fiscal quarter of 2024. The balance of the prepayment is $68 million at March 29, 2025, and is currently recorded in "Prepaid wafers" and "Long-term prepaid wafers" on the consolidated balance sheets. As of March 29, 2025, the Company estimates its remaining purchase obligation to be approximately $450 million of wafers from GlobalFoundries under the Capacity Reservation Agreement.
Purchase Commitments
We rely primarily on third-party foundries for our wafer manufacturing needs. With the exception of the terms of the Capacity Reservation Agreement described above, generally, our foundry agreements do not have volume purchase commitments and primarily provide for purchase commitments based on purchase orders. Cancellation fees or other charges may apply and are generally dependent upon whether wafers have been started or the stage of the manufacturing process at which the notice of cancellation is given.
In addition to our wafer supply arrangements, we contract with third-party assembly vendors to package the wafer die into finished products. Assembly and test vendors provide fixed-cost-per-unit pricing, as is common in the semiconductor industry.
The Company's purchase commitments primarily include the Company's obligations to purchase wafers and related assembly and testing services described above, in addition to future payments related to multi-year tool commitments.
Total future unconditional purchase commitments as of March 29, 2025 were as follows (in thousands):
Fiscal Year
2026$405,585 
2027205,787 
20285,525 
2029— 
2030— 
Thereafter— 
Total$616,897 
v3.25.1
Legal Matters
 12 Months Ended
Mar. 29, 2025
Loss Contingency, Information about Litigation Matters [Abstract]  
Legal Matters Legal Matters
From time to time, we are involved in legal proceedings concerning matters arising in connection with the conduct of our business activities. We regularly evaluate the status of legal proceedings in which we are involved to assess whether a loss is probable or there is a reasonable possibility that a loss or additional loss may have been incurred and to determine if accruals are appropriate. We further evaluate each legal proceeding to assess whether an estimate of possible loss or range of loss can be made. Based on current knowledge, management does not believe that there are any pending matters that could potentially have a material adverse effect on our business, financial condition, results of operations or cash flows.
v3.25.1
Stockholders' Equity
 12 Months Ended
Mar. 29, 2025
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Stockholders' Equity
Share Repurchase Program
Beginning in fiscal year 2024, the Company's net stock repurchases are subject to a 1 percent excise tax under the Inflation Reduction Act, included as a reduction to accumulated earnings in the Consolidated Statements of Stockholders' Equity. As of March 29, 2025, the Company has accrued approximately $1.4 million related to this excise tax. Disclosure of repurchased amounts and related average costs below exclude the impact of excise taxes.
In July 2022, the Company announced that the Board of Directors authorized the repurchase of up to $500 million of the Company's common stock. During the fiscal year ended March 29, 2025, the Company repurchased 2.3 million shares of its common stock under the 2022 authorization for $261.0 million, at an average cost of $112.33 per share. All of these shares were repurchased in the open market and were funded from existing cash. All shares of our common stock that were repurchased were retired as of March 29, 2025. As of March 29, 2025, $54.1 million remains available for repurchase under the 2022 authorization. Additionally, in March 2025, the Board of Directors authorized the repurchase of up to an additional $500 million of the Company's common stock. No shares have been repurchased under the 2025 authorization as of March 29, 2025.
Preferred Stock
We have 5.0 million shares of Preferred Stock authorized. As of March 29, 2025, we have not issued any of the authorized shares.
v3.25.1
Accumulated Other Comprehensive Loss
 12 Months Ended
Mar. 29, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss
Our accumulated other comprehensive loss is comprised of foreign currency translation adjustments, unrealized gains and losses on investments classified as available-for-sale, and cumulative effects of adopting new accounting standards.
The following table summarizes the changes in the components of accumulated other comprehensive loss, net of tax (in thousands):
Foreign
Currency		Unrealized Gains
(Losses) on Securities
Cumulative Effect of Adoption of ASU 2018-02
Total
Balance, March 25, 2023$(1,047)$(1,235)$(257)$(2,539)
Current period foreign exchange translation(850)— — (850)
Current period marketable securities activity— 996 — 996 
Tax effect— (210)— (210)
Balance, March 30, 2024$(1,897)$(449)$(257)$(2,603)
Current period foreign exchange translation(566)— — (566)
Current period marketable securities activity— 2,514 — 2,514 
Tax effect— (528)— (528)
Balance, March 29, 2025$(2,463)$1,537 $(257)$(1,183)
v3.25.1
Income Taxes
 12 Months Ended
Mar. 29, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Income (loss) before income taxes consisted of (in thousands):
 Fiscal Years Ended
March 29,
2025		March 30,
2024		March 25,
2023
U.S.$538 $(10,343)$(141,670)
Non-U.S.444,376 374,279 396,409 
$444,914 $363,936 $254,739 

The provision (benefit) for income taxes consists of (in thousands):
 Fiscal Years Ended
March 29,
2025		March 30,
2024		March 25,
2023
Current:
U.S.$39,932 $42,184 $60,603 
Non-U.S.73,573 60,615 52,023 
Total current tax provision$113,505 $102,799 $112,626 
Deferred:
U.S.1,575 (5,178)(28,529)
Non-U.S.(1,673)(8,257)(6,061)
Total deferred tax provision(98)(13,435)(34,590)
Total tax provision$113,407 $89,364 $78,036 
The effective income tax rates differ from the rates computed by applying the statutory federal rate to pretax income as follows (in percentages):
 Fiscal Years Ended
March 29,
2025		March 30,
2024		March 25,
2023
U.S. federal statutory rate21.0 21.0 21.0 
Foreign income taxed at different rates(3.5)(7.1)(14.4)
Stock-based compensation(1.7)(0.1)(0.3)
Foreign-derived intangible income deduction— (0.2)— 
GILTI and Subpart F income14.1 14.6 30.6 
Foreign tax credits(5.6)(4.1)(7.7)
Change in valuation allowance— — 0.2 
Release of prior year unrecognized tax benefits— (0.2)— 
Interest related to unrecognized tax benefits0.6 0.7 0.7 
U.S. research and development credit— (0.7)— 
Other0.6 0.7 0.5 
Effective tax rate25.5 24.6 30.6 
Under the legislation commonly referred to as the Tax Cuts and Jobs Act ("Tax Act"), research and development expenses incurred for tax years beginning after December 31, 2021 must be capitalized and amortized over five or fifteen years for tax purposes, depending on where the research activities are conducted. Because the Company elected to treat global intangible low-taxed income ("GILTI") as a period cost, the capitalization of research and development costs in the computation of GILTI resulted in an increase in the Company's provision for income taxes in fiscal years 2023, 2024 and 2025.
The Tax Act also required companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax-deferred. We elected to pay the transition tax over the eight-year period provided in the Tax Act. As of March 29, 2025, the remaining balance of our transition tax obligation was $10.7 million, which will be paid as the final installment in fiscal year 2026.
Significant components of our deferred tax assets and liabilities as of March 29, 2025 and March 30, 2024 are (in thousands): 
March 29,
2025		March 30,
2024
Deferred tax assets:
Accrued expenses and allowances$3,939 $3,559 
Net operating loss carryforwards889 932 
Research and development tax credit carryforwards12,024 12,547 
Stock-based compensation23,099 28,437 
Lease liabilities23,562 25,564 
Capitalized research and development10,461 11,307 
Depreciation and amortization6,823 994 
Other714 938 
Total deferred tax assets$81,511 $84,278 
Valuation allowance for deferred tax assets(12,475)(12,508)
Net deferred tax assets$69,036 $71,770 
Deferred tax liabilities:
Right of use asset20,302 22,279 
Acquisition intangibles134 845 
Other450 — 
Total deferred tax liabilities$20,886 $23,124 
Total net deferred tax assets$48,150 $48,646 
Deferred tax assets and liabilities are recorded for the estimated tax impact of temporary differences between the tax basis and book basis of assets and liabilities. A valuation allowance is established against a deferred tax asset when it is more likely than not that the deferred tax asset will not be realized.
At March 29, 2025, the Company had gross federal net operating loss carryforwards of $1.5 million, all of which are subject to certain limitations under Section 382 of the Internal Revenue Code and expire in fiscal years 2026 through 2031. At March 29, 2025 the Company had gross foreign net operating loss carryforwards of $0.2 million that do not expire and gross state net operating loss carryforwards of $6.2 million that expire in fiscal years 2026 through 2030. In addition, the Company had $12.1 million of state business tax, minimum tax, and research and development tax credit carryforwards. Certain of these state tax credits will expire in fiscal years 2026 through 2034, and others do not expire.
The Company maintains a valuation allowance for certain deferred tax assets primarily relating to certain state net operating loss and state tax credit carryforwards due to the likelihood that they will expire or go unutilized. Our valuation allowance decreased by $33 thousand in fiscal year 2025, which was the net effect of a gross increase of $206 thousand that affected the effective tax rate and a gross decrease of $239 thousand that was offset by a corresponding reduction in deferred tax assets on the balance sheet.  Management believes that the Company’s results from future operations will generate sufficient taxable income in the appropriate jurisdictions and of the appropriate character such that it is more likely than not that the remaining deferred tax assets will be realized.
At March 29, 2025, unremitted earnings of our foreign subsidiaries that can be distributed without tax consequence, other than withholding taxes that may apply based on the jurisdiction of the subsidiary, are not expected to be indefinitely reinvested. We accrued an immaterial amount of withholding taxes on foreign earnings expected to be remitted in the next year due to the planned liquidation of a foreign entity. No other taxes have been accrued for potential foreign withholding taxes on other foreign earnings as these amounts are not material. We have not provided additional income taxes for other outside basis differences inherent in our foreign entities, as these amounts continue to be indefinitely reinvested in foreign operations. Determining the amount of unrecognized deferred tax liability related to all other outside basis differences in these entities is not practicable at this time.
On July 27, 2015, the U.S. Tax Court issued an opinion in Altera Corp. et al. v. Commissioner which concluded that the regulations relating to the treatment of stock-based compensation expense in intercompany cost-sharing arrangements were invalid. In 2016 the U.S. Internal Revenue Service appealed the decision to the U.S. Court of Appeals for the Ninth Circuit (the “Ninth Circuit”). On July 24, 2018, the Ninth Circuit issued a decision that was subsequently withdrawn and a reconstituted panel conferred on the appeal. On June 7, 2019, the Ninth Circuit reversed the decision of the U.S. Tax Court and upheld the cost-sharing regulations. On February 10, 2020, Altera Corp. filed a Petition for a Writ of Certiorari with the Supreme Court of the United States, which was denied by the Supreme Court on June 22, 2020. Although the issue is now resolved within the Ninth Circuit, the Ninth Circuit's opinion is not binding in other circuits. The potential impact of this issue on the Company, which is not located within the jurisdiction of the Ninth Circuit, is unclear at this time. We will continue to monitor developments related to this issue and the potential impact of those developments on the Company's current and prior fiscal years.
The following table summarizes the changes in the unrecognized tax benefits (in thousands): 
March 29,
2025		March 30,
2024
Beginning balance$32,077 $32,879 
Additions based on tax positions related to the current year— — 
Reduction for the lapse of applicable statute of limitations— (802)
Ending balance$32,077 $32,077 
At March 29, 2025, the Company had gross unrecognized tax benefits of $32.1 million, all of which would impact the effective tax rate if recognized. The Company’s unrecognized tax benefits are classified as “Non-current income taxes” in the consolidated balance sheet. The Company recognizes interest and penalties related to unrecognized tax benefits in the provision for income taxes. During fiscal years 2025 and 2024 we recognized interest expense, net of tax, of approximately $2.8 million and $2.4 million, respectively. The total amount of interest accrued as of March 29, 2025 was $12.0 million.
The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax in multiple state and foreign jurisdictions including the United Kingdom. Fiscal years 2017 through 2019 and 2022 through 2025 remain open to examination by the major taxing jurisdictions in which the Company operates. 
The Company's fiscal year 2017, 2018, and 2019 federal income tax returns are under examination by the U.S. Internal Revenue Service ("IRS").  The IRS has proposed adjustments that would increase U.S. taxable income related to transfer pricing matters with respect to our U.S. and U.K. affiliated companies. The final Revenue Agent’s Report asserted additional tax of approximately $168.3 million, excluding interest, and imposed penalties of approximately $63.7 million. We do not
agree with the IRS's positions and have not accrued an additional liability. We intend to vigorously dispute the proposed adjustments. We are pursuing resolution through the administrative process with the IRS Independent Office of Appeals and, if necessary, through judicial remedies. We expect it could take a number of years to reach resolution on these matters. Although the final resolution of these matters is uncertain, the Company believes adequate amounts have been reserved for any adjustments to the provision for income taxes that may ultimately result. However, if the IRS prevails in these matters, the assessed tax, interest, and penalties, if any, could have an adverse impact on our financial position, results of operations, and cash flows in future periods. The Company is not under an income tax audit in any other major taxing jurisdiction.
v3.25.1
Segment Information
 12 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
We determine our operating segments in accordance with Financial Accounting Standards Board (“FASB”) guidelines. Our Chief Executive Officer (“CEO”) has been identified as the CODM under these guidelines.
The Company operates and tracks its results in one reportable segment, but reports revenue performance in two product lines: Audio and HPMS. Our CEO receives and uses enterprise-wide financial information to assess financial performance and allocate resources. Our product lines have similar characteristics and customers and share operations support functions such as sales, public relations, supply chain management, various research and development and engineering support, in addition to the general and administrative functions of human resources, legal, finance and information technology. Therefore, there is no complete, discrete financial information maintained for these product lines. Revenue by product line is disclosed in Note 9 - Revenues.
The CODM allocates resources and evaluates Company performance based on net income. This information is used to measure profitability, make budgeting and forecasting decisions, monitor performance trends, and to compare actual results to forecasts. The CODM regularly reviews the consolidated statement of income and a disaggregation of operating expenses, with a focus on personnel-related and product development costs. The measure of segment assets is reported on the balance sheet as total consolidated assets.
The table below presents the Company's significant segment operating expenses (in thousands):
Fiscal Years Ended
March 29,
2025		March 30,
2024		March 25,
2023
Personnel-related (1)353,338 333,559 339,192 
Product development (2)64,946 65,912 71,245 
Other segment items (3)167,395 173,135 297,511 
Total Operating Expense$585,679 $572,606 $707,948 

(1) Personnel-related expenses include employee base pay, benefits, variable compensation and other employee-related expenses.
(2) Product development costs include software, engineering mask sets, wafers, and boards, as well as outside design services.
(3) Other segment items primarily include stock-based compensation, facilities-related costs, depreciation and amortization, and non-recurring charges, offset by the benefit received from research and development expenditure credits.
Geographic Area
The Company's geographic details of revenue and property, plant and equipment are included below.
The following illustrates net sales by ship to location of the customer (in thousands):
 Fiscal Years Ended
March 29,
2025		March 30,
2024		March 25,
2023
China$1,126,367 $1,114,310 $1,230,602 
India205,902 125,138 69,343 
Hong Kong196,530 219,053 223,405 
South Korea142,655 119,532 93,177 
Vietnam123,073 96,080 93,760 
United States15,838 17,971 52,688 
Rest of World85,712 96,806 134,642 
Total consolidated net sales$1,896,077 $1,788,890 $1,897,617 

The following illustrates property, plant and equipment, net, by geographic locations, based on physical location (in thousands):
 Fiscal Years Ended
March 29,
2025		March 30,
2024
United States$133,383 $140,300 
United Kingdom13,570 16,822 
Rest of World12,947 13,053 
Total consolidated property, plant and equipment, net$159,900 $170,175 
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Pay vs Performance Disclosure      
Net income $ 331,507 $ 274,572 $ 176,703
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 29, 2025
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
The following table details contracts, instructions and written plans for the purchase or sale of securities, which were entered into during the fourth quarter of fiscal year 2025. None of our directors or Section 16 officers entered into or terminated a non-Rule 10b5-1 trading arrangement during the fourth quarter of fiscal year 2025.

Name and TitleAction
Trading Arrangement (1)
Date of AdoptionExpiration Date
Aggregate Number of Securities to be Purchased or Sold Pursuant to the Trading Arrangement (2)
Carl Alberty - EVP, MSP
AdoptionRule 10b5-1(c)February 28, 2025March 31, 2026
up to 8,648 to be sold
(1) Except as indicated by footnote, each trading arrangement marked as "Rule 10b5-1(c)" is intended to satisfy the affirmative defense of Rule 10b5-1(c), as amended.
(2) Includes shares to be acquired upon the exercise of employee stock options.
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Carl Alberty [Member]  
Trading Arrangements, by Individual  
Name Carl Alberty
Title EVP, MSP
Rule 10b5-1 Arrangement Adopted true
Adoption Date February 28, 2025
Arrangement Duration 396 days
Aggregate Available 8,648
v3.25.1
Insider Trading Policies and Procedures
 12 Months Ended
Mar. 29, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Mar. 29, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We have policies and processes in place that are designed to assess, identify and manage material risks from cybersecurity threats. We regularly assess risks from cybersecurity threats, including any potential unauthorized occurrence on or conducted through our information systems that may result in adverse effects on the confidentiality, integrity or availability of our information systems or any information residing therein. We use recognized industry frameworks and standards as guides in identifying, assessing and managing cybersecurity risks relevant to our operations. For example, we primarily use NIST CSF (National Institute of Standards and Technology Cybersecurity Framework) for this purpose.
Key components of our cybersecurity risk management strategy include:

•We have a dedicated Information Security team principally responsible for implementing and managing our cybersecurity strategy and controls.
•We use industry standard technologies and tools appropriate to our operations which are designed to prevent and detect unauthorized access to, or compromise of, our network, servers, endpoints and external applications, such as multi-factor authentication, malware protection, firewalls and monitoring controls.
•We regularly train our personnel on cybersecurity awareness and conduct periodic additional awareness and training activities such as simulated phishing campaigns.
•We have in place an Incident Response Plan that governs how we respond to and manage cybersecurity incidents. We conduct regular tabletop exercises to test our response to potential incidents.
•We use third-party service providers where appropriate to design, implement and support aspects of our security processes as well as to monitor and test our safeguards.
Our cybersecurity risk management strategy forms part of our overall enterprise risk management program. We conduct regular risk assessments designed to identify cybersecurity threats and other risks to the company. These risk assessments include identifying reasonably foreseeable potential internal and external risks, the likelihood of occurrence, and any potential damage that could result from such risks. We also evaluate the sufficiency of our existing internal controls and monitor the effectiveness of such safeguards. In response, we adjust our processes and controls as necessary.
Our risk management process also encompasses cybersecurity risks associated with our use of third-party service providers. For example, as part of our contract management process, we conduct IT security reviews, and require executive approval by the General Counsel, Chief Financial Officer and Executive Vice President of Global Operations in relation to products or services that could potentially expose our company to cybersecurity risks.
As of the end of fiscal year 2025, we have not identified any risks from known cybersecurity threats (including as a result of any prior cybersecurity incidents) that have materially affected, or are reasonably likely to materially affect, our business strategy, results of operations or financial conditions. While our cybersecurity risk management strategy is intended to assess, identify and manage material risks from cybersecurity threats, it may not adequately do so in every instance, particularly given the evolving nature of the cybersecurity threat landscape. We expect that our policies and processes will continue to be subject to update as the risks from cybersecurity threats change. For more information about risks from cybersecurity threats, and whether they are reasonably likely to materially affect our business strategy, results of operations or financial conditions, please see the Risk factors discussion in Item 1A of this Form 10-K, including “Risks related to system security, cyber-attacks and data breaches”.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
We have policies and processes in place that are designed to assess, identify and manage material risks from cybersecurity threats. We regularly assess risks from cybersecurity threats, including any potential unauthorized occurrence on or conducted through our information systems that may result in adverse effects on the confidentiality, integrity or availability of our information systems or any information residing therein. We use recognized industry frameworks and standards as guides in identifying, assessing and managing cybersecurity risks relevant to our operations. For example, we primarily use NIST CSF (National Institute of Standards and Technology Cybersecurity Framework) for this purpose.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
The Board of Directors’ overall risk oversight function includes receiving reports on the Company’s cybersecurity risks and our risk management processes, and assessing whether our risk management strategies are reasonably designed to address such risks. The Board has delegated this oversight responsibility to our Audit Committee, which reports periodically to the Board as appropriate.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Board has delegated this oversight responsibility to our Audit Committee, which reports periodically to the Board as appropriate.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
Our Director of Information Security meets with the Audit Committee at least twice a year to discuss our cybersecurity risks, strategy, and activities, including cybersecurity incidents and responses, cybersecurity systems testing, third-party activities and related topics. In addition, we have governance and compliance structures that are designed to elevate issues relating to cybersecurity to executive officers, and, as appropriate, to the Audit Committee and Board.
Cybersecurity Risk Role of Management [Text Block]
The Board of Directors’ overall risk oversight function includes receiving reports on the Company’s cybersecurity risks and our risk management processes, and assessing whether our risk management strategies are reasonably designed to address such risks. The Board has delegated this oversight responsibility to our Audit Committee, which reports periodically to the Board as appropriate.
Our Executive Vice President of Global Operations and our Director of Information Security are responsible for ongoing assessment and supervision of cybersecurity risks, supported by a dedicated Information Security team who reports up to those individuals. Our Director of Information Security has primary oversight of material risks from cybersecurity threats, has over 25 years of experience in cybersecurity-related roles and holds industry-recognized certifications. Our Executive Vice President of Global Operations and Director of Information Security review and evaluate our cybersecurity readiness through internal cybersecurity measures and metrics, as well as third-party penetration tests and control assessments against industry standards. We also employ various defensive and continuous monitoring techniques designed to escalate potential issues in a timely manner to our Director of Information Security.
Our Director of Information Security meets with the Audit Committee at least twice a year to discuss our cybersecurity risks, strategy, and activities, including cybersecurity incidents and responses, cybersecurity systems testing, third-party activities and related topics. In addition, we have governance and compliance structures that are designed to elevate issues relating to cybersecurity to executive officers, and, as appropriate, to the Audit Committee and Board.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
Our Executive Vice President of Global Operations and our Director of Information Security are responsible for ongoing assessment and supervision of cybersecurity risks, supported by a dedicated Information Security team who reports up to those individuals. Our Director of Information Security has primary oversight of material risks from cybersecurity threats, has over 25 years of experience in cybersecurity-related roles and holds industry-recognized certifications. Our Executive Vice President of Global Operations and Director of Information Security review and evaluate our cybersecurity readiness through internal cybersecurity measures and metrics, as well as third-party penetration tests and control assessments against industry standards. We also employ various defensive and continuous monitoring techniques designed to escalate potential issues in a timely manner to our Director of Information Security.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our Director of Information Security has primary oversight of material risks from cybersecurity threats, has over 25 years of experience in cybersecurity-related roles and holds industry-recognized certifications.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
Our Executive Vice President of Global Operations and our Director of Information Security are responsible for ongoing assessment and supervision of cybersecurity risks, supported by a dedicated Information Security team who reports up to those individuals. Our Director of Information Security has primary oversight of material risks from cybersecurity threats, has over 25 years of experience in cybersecurity-related roles and holds industry-recognized certifications. Our Executive Vice President of Global Operations and Director of Information Security review and evaluate our cybersecurity readiness through internal cybersecurity measures and metrics, as well as third-party penetration tests and control assessments against industry standards. We also employ various defensive and continuous monitoring techniques designed to escalate potential issues in a timely manner to our Director of Information Security.
Our Director of Information Security meets with the Audit Committee at least twice a year to discuss our cybersecurity risks, strategy, and activities, including cybersecurity incidents and responses, cybersecurity systems testing, third-party activities and related topics. In addition, we have governance and compliance structures that are designed to elevate issues relating to cybersecurity to executive officers, and, as appropriate, to the Audit Committee and Board.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.1
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Mar. 29, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
We prepare financial statements on a 52- or 53-week year that ends on the last Saturday in March. Fiscal years 2025 and 2023 were 52-week years. Fiscal year 2024 was a 53-week year.
Principles of Consolidation
Principles of Consolidation
The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated.
Use of Estimates
Use of Estimates
The preparation of financial statements in accordance with U.S. GAAP requires the use of management estimates. These estimates are subjective in nature and involve judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at fiscal year-end and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates.
Cash and Cash Equivalents
Cash and Cash Equivalents
Cash and cash equivalents consist primarily of money market funds, U.S. Government Treasury and Agency instruments with original maturities of three months or less at the date of purchase.
Leases
Leases
We account for leases under ASC 842, Leases. Our leases generally contain fixed rental payments, with additional variable payments linked to actual common area maintenance costs incurred by the landlord. These variable payments are not included within the lease liability and right-of-use ("ROU") asset, but are recognized as an expense when incurred. As our leases typically do not provide an implicit rate, the Company determines the Incremental Borrowing Rate ("IBR") for each lease based on the information available at the commencement date, taking into consideration necessary adjustments for collateral, currency, and lease term.
Operating leases in excess of 12 months are recognized on the balance sheet, with future lease payments recognized as a liability, measured at present value, and the ROU asset recognized for the lease term. Lease expense is recognized in the income statement over the lease term.
Inventories
Inventories
Inventories are stated at the lower of cost or net realizable value on a first-in, first-out basis. Cost is computed using standard costs, which approximate actual cost. One of the factors we consistently evaluate in the application of this method is the extent to which products are accepted into the marketplace. By policy, we evaluate market acceptance based on known business factors and conditions by comparing forecasted customer unit demand for our products over a specific future period, or demand horizon, to quantities on hand at the end of each accounting period.
On a quarterly and annual basis, we analyze inventories on a part-by-part basis. Product life cycles and the competitive nature of the industry are factors considered in the evaluation of customer unit demand at the end of each quarterly accounting
period. Inventory on-hand in excess of forecasted demand is considered to have reduced market value and, therefore, the cost basis is adjusted to net realizable value. Typically, market values for excess or obsolete inventories are considered to be zero. Inventory charges recorded for excess and obsolete inventory, including scrapped inventory, were $4.2 million in fiscal year 2025, related to a combination of quality issues and inventory exceeding demand. Net inventory reserve releases of $1.0 million in fiscal year 2024, primarily related to the sale of previously reserved inventory, offset by charges for excess and obsolete inventory.
Property, Plant and Equipment, net
Property, Plant and Equipment, net
Property, plant and equipment is recorded at cost, net of depreciation and amortization. Depreciation and amortization is calculated on a straight-line basis over estimated economic lives, ranging from 3 to 39 years. Leasehold improvements are depreciated over the shorter of the term of the lease or the estimated useful life. Furniture, fixtures, machinery, and equipment are all depreciated over a useful life of 3 to 10 years, while buildings are depreciated over a period of up to 39 years. In general, our capitalized software is amortized over a useful life of 3 years, with capitalized enterprise resource planning software being amortized over a useful life of 10 years. Gains or losses related to retirements or dispositions of fixed assets are recognized in the period incurred. Additionally, if impairment indicators exist, the Company will assess the carrying value in relation to the calculated fair value of the associated asset.
Goodwill
Goodwill
Goodwill is recorded at the time of an acquisition and is calculated as the difference between the aggregate consideration paid for an acquisition and the fair value of the net tangible and intangible assets acquired. The Company tests goodwill for impairment on an annual basis or more frequently if the Company believes indicators of impairment exist. Impairment evaluations involve management’s assessment of qualitative factors to determine whether it is more likely than not that goodwill is impaired. If management concludes from its assessment of qualitative factors that it is more likely than not that impairment exists, then a quantitative impairment test will be performed involving management estimates of future cash flows. Significant management judgment is required in the forecasts of future operating results that are used in these evaluations. Following the quantitative test, an impairment charge would be recorded for the amount the carrying value exceeds the calculated fair value.
Long-Lived Assets
Long-Lived Assets
Intangible assets include purchased technology licenses and patents that are reported at cost and are amortized on a straight-line basis over their useful lives, generally ranging from 1 to 5 years. Acquired intangibles include existing technology, core technology or patents, license agreements, in-process research & development, trademarks, tradenames, customer relationships, and non-compete agreements. These assets are amortized on a straight-line basis over lives ranging from 1 to 15 years.
We regularly review whether facts or circumstances exist that indicate the carrying values of property, plant and equipment or other long-lived assets, including intangible assets, are impaired. We assess the recoverability of assets by comparing the projected undiscounted net cash flows associated with those assets to their respective carrying amounts. We measure any impairment loss by comparing the fair value of the asset to its carrying amount. We estimate fair value based on discounted future cash flows, quoted market prices, or independent appraisals. See Note 7 — Intangibles, net and Goodwill for further detail. There were no material intangible asset impairments recorded in fiscal years 2025 or 2024.
Foreign Currency Translation
Foreign Currency Translation
Some of the Company's subsidiaries utilize the local currency as the functional currency. The Company’s main entities, including the entities that generate the majority of sales and employ the majority of employees, are U.S. dollar functional.
Concentration of Credit Risk
Concentration of Credit Risk
Financial instruments that potentially subject us to material concentrations of credit risk consist primarily of cash equivalents, marketable securities, long-term marketable securities, and trade accounts receivable. We are exposed to credit risk to the extent of the amounts recorded on the balance sheet. By policy, our cash equivalents, marketable securities, and long-term marketable securities are subject to certain nationally recognized credit standards, issuer concentrations, sovereign risk, and marketability or liquidity considerations.
In evaluating our trade receivables, we perform credit evaluations of our major customers’ financial condition and monitor closely all of our receivables to limit our financial exposure by limiting the length of time and amount of credit extended. In certain situations, we may require payment in advance or utilize letters of credit to reduce credit risk. By policy, we establish a reserve for trade accounts receivable based on the type of business in which a customer is engaged, the length of time a trade account receivable is outstanding, and other knowledge that we may possess relating to the probability that a trade receivable is at risk for non-payment.
We had two contract manufacturers aggregated at their parent level, Foxconn and Luxsan, who represented 41 percent and 21 percent, respectively, of our consolidated gross trade accounts receivable as of the end of fiscal year 2025. We had three contract manufacturers aggregated at their parent level, Foxconn, Luxshare Precision, and Pegatron, who represented 43 percent, 11 percent, and 10 percent, respectively, of our consolidated gross trade accounts receivable as of the end of fiscal year 2024. No other distributor or contract manufacturer had receivable balances that represented more than 10 percent of consolidated gross trade accounts receivable as of the end of fiscal year 2025 or 2024.
Since the components we produce are largely proprietary and generally not available from second sources, we consider our end customer to be the entity specifying the use of our component in their design. These end customers may then purchase our products directly from us, from a distributor, or through a third-party manufacturer contracted to produce their end product. For fiscal years 2025, 2024 and 2023, our ten largest end customers represented approximately 96 percent, 95 percent and 92 percent of our net sales, respectively. For fiscal years 2025, 2024, and 2023, we had one end customer, Apple Inc., who purchased through multiple contract manufacturers and represented approximately 89 percent, 87 percent, and 83 percent, of the Company’s total net sales, respectively. No other customer or distributor represented more than 10 percent of net sales in fiscal years 2025, 2024, or 2023.
Revenue Recognition, Shipping Costs
Revenue Recognition
We recognize revenue upon the transfer of promised goods or services to customers, in an amount that reflects the consideration the Company expects to be entitled in exchange for those goods or services.
Performance Obligations
The Company’s single performance obligation is the delivery of promised goods to the customer. The promised goods are explicitly stated in the customer contract and are comprised of a single type of good. This performance obligation is satisfied upon transfer of control of the promised goods to the customer, as defined per the shipping terms within the customer’s contract. The vast majority of the Company’s contracts with customers have an original expected term of one year or less.
Contract balances
Payments are typically due within 30 to 60 days of invoicing and terms do not include a significant financing component or noncash consideration. There have been no material impairment losses on accounts receivable. There are no material contract liabilities recorded on the consolidated balance sheets.
Transaction price
The transaction price is the amount of consideration to which the Company expects to be entitled in exchange for transferring the promised goods to the customer. Fixed pricing is the consideration that is agreed upon in the customer contract. Variable pricing includes rights of return, price protection and stock rotation. Rights of return costs are estimated using the "most likely amount" method by reviewing historical returns to determine the most likely customer return rate and applying materiality thresholds. Price protection includes price adjustments available to certain distributors based upon established book price and a stated adjustment period. Stock rotation is also available to certain distributors based on a stated maximum of prior billings.
The Company estimates all variable consideration at the most likely amount which it expects to be entitled. The estimate is based on current and historical information available to the Company, including recent sales activity and pricing. Variable consideration is only included in the transaction price to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The Company defers all variable consideration that does not meet the revenue recognition criteria.
Shipping Costs
Our shipping and handling costs are included in cost of sales for all periods presented in the consolidated statements of income.
Disaggregation of revenue
We disaggregate revenue from contracts with customers by product line and ship to location of the customer. Sales are designated in the product line categories of Audio and High-Performance Mixed-Signal ("HPMS").
Advertising Costs
Advertising Costs
Advertising costs are expensed as incurred.
Stock-Based Compensation
Stock-Based Compensation
Stock-based compensation is measured at the grant date based on the grant-date fair value of the awards and is recognized as an expense, on a ratable basis, over the vesting period, which is generally between 1 and 4 years. Determining the amount of stock-based compensation to be recorded requires the Company to develop estimates used in calculating the grant-date fair value of stock options and market stock units. The Company calculates the grant-date fair value for stock options and market stock units ("MSUs") using the Black-Scholes valuation model and the Monte Carlo simulation, respectively. The use of valuation models requires the Company to make estimates of assumptions such as expected volatility, expected term, risk-free interest rate, expected dividend yield, and forfeiture rates. The grant-date fair value of restricted stock units ("RSUs") is the market value at grant date multiplied by the number of units. The grant-date fair value of performance stock units ("PSUs") is the market value at grant date multiplied by the target number of award units.
Income Taxes
Income Taxes
We are required to calculate income taxes in each of the jurisdictions in which we operate. This process involves calculating the actual current tax liability as well as assessing temporary differences in the recognition of income or loss for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included in our consolidated balance sheet. We record a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized.  The Company evaluates the ability to realize its deferred tax assets based on all the facts and circumstances, including projections of future taxable income and expiration dates of carryover tax attributes.
The calculation of our tax liabilities involves assessing uncertainties with respect to the application of complex tax rules and the potential for future adjustment of our uncertain tax positions by the U.S. Internal Revenue Service or other taxing jurisdiction. We recognize liabilities for uncertain tax positions based on the required two-step process. The first step requires us to determine if the weight of available evidence indicates that the tax position has met the threshold for recognition; therefore, we must evaluate whether it is more likely than not that the position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step requires us to measure the tax benefit of the tax position taken, or expected to be taken, in an income tax return as the largest amount that is more than 50 percent likely of being realized upon ultimate settlement. We reevaluate the uncertain tax positions each quarter based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, expirations of statutes of limitation, effectively settled issues under audit, and new audit activity. A change in the recognition step or measurement step would result in the recognition of a tax benefit or an additional charge to the tax provision in the period.
Although we believe the measurement of our liabilities for uncertain tax positions is reasonable, we cannot assure that the final outcome of these matters will not be different than what is reflected in the historical income tax provisions and accruals. If additional taxes are assessed as a result of an audit or litigation, it could have a material effect on our income tax provision and net income in the period or periods for which that determination is made. We operate within multiple taxing jurisdictions and are subject to audit in these jurisdictions. These audits can involve complex issues which may require an extended period of time to resolve and could result in additional assessments of income tax. We believe adequate provisions for income taxes have been made for all periods. See Note 17 - Income Taxes for further detail.
Government Assistance
The Company benefits from the Research and Development Expenditure Credit (“RDEC”) program in the United Kingdom. The RDEC is recorded as an offset to research and development expenses in the consolidated statements of income, $43.0 million, $40.9 million, and $26.2 million in fiscal years 2025, 2024, and 2023, respectively. The RDEC is first settled against the Company's United Kingdom quarterly income tax payments with any remainder paid in cash on an annual basis. The RDEC receivable as of March 30, 2024 totaled $27.9 million, presented within "Other current Assets" on the consolidated balance sheets. There was no RDEC receivable as of March 29, 2025. While the duration of RDEC benefits is indefinite, the program is subject to future policy changes and RDEC claims are subject to regular audits by the United Kingdom government.
Net Income Per Share
Net Income Per Share
Basic net income per share is based on the weighted effect of common shares issued and outstanding and is calculated by dividing net income by the basic weighted average shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average number of common shares used in the basic net income per share calculation, plus the equivalent number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding. These potentially dilutive items consist primarily of outstanding stock options and restricted stock grants.
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss
Our accumulated other comprehensive loss is comprised of foreign currency translation adjustments and unrealized gains and losses on investments classified as available-for-sale. See Note 16 — Accumulated Other Comprehensive Loss for additional discussion.
Recently Adopted Accounting Pronouncements / Recently Issued Accounting Pronouncements
Recently Adopted Accounting Pronouncements
In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU requires interim and annual disclosure of significant segment expenses that are regularly provided to the CODM and included within each reported measure of a segment’s profit or loss, requires interim disclosures about a reportable segment’s profit or loss and assets that are currently required annually and requires disclosure of the position and title of the CODM and how the CODM uses segment profit or loss information in assessing segment performance and deciding how to allocate resources. In the event the CODM uses more than one measure of a segment's profit or loss in assessing performance and allocation of resources, clarification of disclosure requirements is provided. Additionally, a company with a single reportable segment is required to provide all the disclosures prescribed under this ASU. The guidance is
effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, to be applied retrospectively to all periods presented. The Company retrospectively adopted this standard for the fiscal year ending March 29, 2025. See Note 18 - Segment Information. The adoption of this standard had no impact on our results of operations, cash flows or financial position.
Recently Issued Accounting Pronouncements
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. The guidance provides qualitative and quantitative updates to the rate reconciliation and income taxes paid disclosures, requiring more consistent categories and greater disaggregation of information by jurisdiction. This ASU is effective for financial statements issued for annual periods beginning after December 15, 2024, with early adoption permitted, to be applied on a prospective basis, although retrospective application is also permitted. The Company is currently evaluating the impact of this guidance on financial statement disclosures.
In November 2024, FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Topic 220-40): Disaggregation of Income Statement Expenses, which requires disaggregation of certain expense categories in the notes to the financial statements in order to provide enhanced transparency into the expense captions presented on the face of the income statement. The amendments are effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption and prospective or retrospective application permitted. The Company is currently evaluating the impact of this guidance on financial statement disclosures.
Marketable Securities
The Company’s investments have been classified as available-for-sale securities in accordance with U.S. GAAP. Marketable securities are categorized on the consolidated balance sheet as “Marketable securities” within the short-term or long-term classification, as appropriate.
Fair Value of Financial Instruments
The Company has determined that the assets and liabilities in the Company’s financial statements that are required to be measured at fair value on a recurring basis are the Company’s cash equivalents and marketable securities portfolio. The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).
▪Level 1 — Quoted prices in active markets for identical assets or liabilities.
▪Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
▪Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
The Company’s cash equivalents and marketable securities portfolio consist of money market funds, commercial paper, debt securities, non-U.S government securities, U.S Treasury securities, and securities of U.S. government-sponsored enterprises, and are reflected on our consolidated balance sheet under the headings cash and cash equivalents, marketable securities, and long-term marketable securities. The Company determines the fair value of its marketable securities portfolio by obtaining non-binding market prices from its third-party pricing providers on the last day of the quarter, whose sources may use quoted prices in active markets for identical assets (Level 1 inputs) or inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs) in determining fair value
Segment Information
We determine our operating segments in accordance with Financial Accounting Standards Board (“FASB”) guidelines. Our Chief Executive Officer (“CEO”) has been identified as the CODM under these guidelines.
The Company operates and tracks its results in one reportable segment, but reports revenue performance in two product lines: Audio and HPMS. Our CEO receives and uses enterprise-wide financial information to assess financial performance and allocate resources. Our product lines have similar characteristics and customers and share operations support functions such as sales, public relations, supply chain management, various research and development and engineering support, in addition to the general and administrative functions of human resources, legal, finance and information technology. Therefore, there is no complete, discrete financial information maintained for these product lines. Revenue by product line is disclosed in Note 9 - Revenues.
v3.25.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Mar. 29, 2025
Accounting Policies [Abstract]  
Schedule of Inventories
Inventories were comprised of the following (in thousands):
 
March 29, 2025March 30, 2024
Work in process$216,173 $130,842 
Finished goods82,919 96,406 
$299,092 $227,248 
Components of Property, Plant and Equipment
Property, plant and equipment was comprised of the following (in thousands):
March 29, 2025March 30, 2024
Land$23,853 $23,853 
Buildings64,148 64,056 
Furniture and fixtures29,875 30,462 
Leasehold improvements80,683 81,118 
Machinery and equipment208,567 200,999 
Capitalized software21,709 23,092 
Construction in progress and other734 9 
Total property, plant and equipment429,569 423,589 
Less: Accumulated depreciation and amortization(269,669)(253,414)
Property, plant and equipment, net$159,900 $170,175 
Schedule of Earnings Per Share, Basic and Diluted
The following table details the calculation of basic and diluted earnings per share for fiscal years 2025, 2024, and 2023, (in thousands, except per share amounts):
 
 Fiscal Years Ended
March 29, 2025March 30, 2024March 25, 2023
Numerator:
Net income$331,507 $274,572 $176,703 
Denominator:
Weighted average shares outstanding53,135 54,290 55,614 
Effect of dilutive securities2,106 1,731 1,612 
Weighted average diluted shares55,241 56,021 57,226 
Basic earnings per share$6.24 $5.06 $3.18 
Diluted earnings per share$6.00 $4.90 $3.09 
v3.25.1
Marketable Securities (Tables)
 12 Months Ended
Mar. 29, 2025
Marketable Securities [Abstract]  
Schedule of Available-for-sale Securities
The following table is a summary of available-for-sale securities (in thousands):
 
As of March 29, 2025Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Estimated Fair Value
(Net Carrying Amount)
Corporate debt securities$284,885 $1,635 $(55)$286,465 
U.S. Treasury securities8,689 45 (3)8,731 
Total securities$293,574 $1,680 $(58)$295,196 
As of March 30, 2024Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Estimated Fair Value
(Net Carrying Amount)
Corporate debt securities$186,194 $115 $(916)$185,393 
U.S. Treasury securities9,850 — (81)9,769 
Agency discount notes1,135 — (11)1,124 
Commercial paper866 — — 866 
Total securities$198,045 $115 $(1,008)$197,152 
Schedule of Cost and Estimated Fair Value of Available-for-sale Securities by Contractual Maturity
The cost and estimated fair value of available-for-sale investments by contractual maturity were as follows:
 
 March 29, 2025March 30, 2024
Amortized
Cost		Estimated
Fair Value		Amortized
Cost		Estimated
Fair Value
Within 1 year$56,044 $56,160 $24,071 $23,778 
After 1 year237,530 239,036 173,974 173,374 
Total$293,574 $295,196 $198,045 $197,152 
v3.25.1
Fair Value of Financial Instruments (Tables)
 12 Months Ended
Mar. 29, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Financial Assets and Liabilities
The following summarizes the fair value of our financial instruments at March 29, 2025 (in thousands):
 
Quoted Prices
in Active
Markets for
Identical
Assets
Level 1		Significant
Other
Observable
Inputs
Level 2		Significant
Unobservable
Inputs
Level 3		Total
Assets:
Cash equivalents
Money market funds$491,467 $— $— $491,467 
Available-for-sale securities
Corporate debt securities$— $286,465 $— $286,465 
U.S. Treasury securities8,731 — — 8,731 
$8,731 $286,465 $— $295,196 

The following summarizes the fair value of our financial instruments at March 30, 2024 (in thousands):
Quoted Prices
in Active
Markets for
Identical
Assets
Level 1		Significant
Other
Observable
Inputs
Level 2		Significant
Unobservable
Inputs
Level 3		Total
Assets:
Cash equivalents
Money market funds$439,065 $— $— $439,065 
Certificates of deposit— 400 — 400 
$439,065 $400 $— $439,465 
Available-for-sale securities
Corporate debt securities$— $185,393 $— $185,393 
U.S. Treasury securities9,769 — — 9,769 
Agency discount notes— 1,124 — 1,124 
Commercial paper$— $866 $— $866 
$9,769 $187,383 $— $197,152 
v3.25.1
Derivative Financial Instruments (Tables)
 12 Months Ended
Mar. 29, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Before-Tax Effect of Derivative Instruments Not Designated as Hedging Instruments
The before-tax effect of derivative instruments not designated as hedging instruments was as follows (in thousands):
Fiscal Years Ended
March 29, 2025March 30, 2024March 25, 2023Location
Loss recognized in income
Foreign currency forward contracts$(2)$(431)$(564)Other income (expense)
v3.25.1
Accounts Receivable, net (Tables)
 12 Months Ended
Mar. 29, 2025
Accounts Receivable, after Allowance for Credit Loss [Abstract]  
Components of Accounts Receivable, Net
The following are the components of accounts receivable, net (in thousands):
 
March 29, 2025March 30, 2024
Gross accounts receivable$216,009 $162,478 
Allowance for doubtful accounts— — 
Accounts receivable, net$216,009 $162,478 
v3.25.1
Intangibles, net and Goodwill (Tables)
 12 Months Ended
Mar. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Gross Carrying Amount and Amortization of Intangible Assets
The following information details the gross carrying amount, accumulated amortization, and net carrying value of our intangible assets subject to amortization (in thousands): 
 March 29, 2025March 30, 2024
Intangible Category /
Weighted-Average Remaining Amortization
Period (in years)		Gross
Amount		Accumulated
Amortization		Net Carrying ValueGross
Amount		Accumulated
Amortization		Net Carrying Value
Existing technology (3.3)
146,146 (124,183)21,963 146,146 (117,595)28,551 
Customer relationships (a)
15,381 (15,381)— 15,381 (14,840)541 
Technology licenses (9.2)
16,029 (10,531)5,498 10,692 (10,206)486 
Total$177,556 $(150,095)$27,461 $172,219 $(142,641)$29,578 
 
(a)Intangible assets are fully amortized as of March 29, 2025.
Schedule of Estimated Aggregate Amortization Expense for Intangibles The following table details the estimated aggregate amortization expense for all intangibles owned as of March 29, 2025, for each of the five succeeding fiscal years and in the aggregate thereafter (in thousands):
 
Fiscal Year
2026$7,290 
2027$7,210 
2028$7,057 
2029$2,613 
2030$417 
Thereafter$2,874 
v3.25.1
Revolving Credit Facility (Tables)
 12 Months Ended
Mar. 29, 2025
Debt Disclosure [Abstract]  
Schedule of Future Interest Payment Obligations
As of March 29, 2025, future interest payment obligations based on forecasted commitment fees under the Revolving Credit Facility were as follows (in thousands):  

Fiscal Year
2026$532 
2027277 
2028— 
2029— 
2030— 
Thereafter— 
Total$809 
v3.25.1
Revenues (Tables)
 12 Months Ended
Mar. 29, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Total net sales based on the product line disaggregation criteria described above are shown in the table below (in thousands).
Fiscal Years Ended
March 29, 2025March 30, 2024March 25, 2023
Audio Products$1,137,157 $1,083,939 $1,172,007 
HPMS Products758,920 704,951 725,610 
Total$1,896,077 $1,788,890 $1,897,617 

The geographic regions that are reviewed are China, the United States, and the rest of the world.
Total net sales based on the geographic disaggregation criteria described are as follows (in thousands):

Fiscal Years Ended
March 29,March 30,March 25,
202520242023
China$1,126,367 $1,114,310 $1,230,602 
United States15,838 17,971 52,688 
Rest of World753,872 656,609 614,327 
Total$1,896,077 $1,788,890 $1,897,617 
v3.25.1
Leases (Tables)
 12 Months Ended
Mar. 29, 2025
Leases [Abstract]  
Schedule of Operating Lease Expense
The components of net operating lease expense were as follows (in thousands):
Fiscal Years Ended
March 29, 2025March 30, 2024
Operating lease - in excess of 12 months$19,750 $17,498 
Variable lease6,137 5,259 
Short-term lease351 853 
Operating lease income(944)(164)
Total net operating lease expense$25,294 $23,446 
Schedule of Lease Expense and Other Information
Supplemental operating lease information:
Fiscal Years Ended
March 29, 2025March 30, 2024
Balance Sheet Information (in thousands)
Operating lease right-of-use assets$126,688 $138,288 
Operating lease liabilities$143,719 $155,216 
Cash Flow Information (in thousands)
Operating cash outflows from operating leases$21,965 $19,189 
Non-Cash Information
Right-of-use assets obtained in exchange for new operating lease liabilities3,538 24,784 
Lease remeasurements(1,078)(1,606)
Lease impairments and other related charges— (563)
Operating Lease Information
Weighted-average remaining lease term - operating leases (in years)1112
Weighted-average discount rate - operating leases4 %4 %
Schedule of Future Lease Commitments, Operating Lease Expense
Future lease commitments and income under non-cancellable leases, including extension options reasonably anticipated to be exercised as of March 29, 2025, are as follows (in thousands):

Fiscal YearOperating Lease CommitmentsOperating Lease Income
2026$21,915 $(1,578)
202719,239 (1,889)
202819,702 (2,029)
202919,487 (1,418)
203016,945 — 
Thereafter86,104 — 
Total$183,392 $(6,914)
Less imputed interest and other(39,673)— 
Total$143,719 $(6,914)
Schedule of Future Lease Commitments, Operating Lease Income
Future lease commitments and income under non-cancellable leases, including extension options reasonably anticipated to be exercised as of March 29, 2025, are as follows (in thousands):

Fiscal YearOperating Lease CommitmentsOperating Lease Income
2026$21,915 $(1,578)
202719,239 (1,889)
202819,702 (2,029)
202919,487 (1,418)
203016,945 — 
Thereafter86,104 — 
Total$183,392 $(6,914)
Less imputed interest and other(39,673)— 
Total$143,719 $(6,914)
Schedule of Lease Liabilities
Operating lease liabilities consisted of the following (in thousands):
March 29, 2025March 30, 2024
Current lease liabilities$21,811 $20,640 
Non-current lease liabilities121,908 134,576 
Total operating lease liabilities$143,719 $155,216 
v3.25.1
Equity Compensation (Tables)
 12 Months Ended
Mar. 29, 2025
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Summary of Activity in Total Stock Available for Grant
The following table summarizes the activity in total shares available for grant (in thousands):
 
 Shares
 Available for
 Grant
Balance, March 26, 20222,617 
Shares added2,090 
Granted(2,536)
Forfeited303 
Balance, March 25, 20232,474 
Shares added— 
Granted(1,813)
Forfeited317 
Balance, March 30, 2024978 
Shares added2,670 
Granted(1,322)
Forfeited214 
Balance, March 29, 20252,540 
Summary of Effect of Stock-Based Compensation
The following table summarizes the effects of stock-based compensation on cost of goods sold, research and development, sales, general and administrative, pre-tax income, and net income after taxes for shares granted under the Plan (in thousands, except per share amounts):
 
 Fiscal Year
 202520242023
Cost of sales$1,332 $1,403 $1,270 
Research and development59,184 63,678 57,312 
Sales, general and administrative23,630 24,190 23,059 
Effect on pre-tax income84,146 89,271 81,641 
Income Tax Benefit(19,152)(20,646)(15,184)
Total stock-based compensation expense (net of taxes)64,994 68,625 66,457 
Stock-based compensation effects on basic earnings per share$1.22 $1.26 $1.19 
Stock-based compensation effects on diluted earnings per share1.18 1.22 1.16 
Schedule of Fair Value of Stock Option Grants
We estimate the fair value of each stock option on the date of grant using the Black-Scholes option-pricing model using a dividend yield of zero and the following additional assumptions:

 
March 29, 2025March 30, 2024March 25, 2023
Expected stock price volatility
35.70%
34.53% - 39.92%
35.18% - 46.50%
Risk-free interest rate
4.33%
3.99% - 4.11%
2.47% - 3.96%
Expected term (in years)
3.73
3.85 - 4.07
4.04 - 4.33
Schedule of Stock Option Activity
Additional information with respect to stock option activity is as follows (in thousands, except per share amounts):
 
 Outstanding Options
NumberWeighted
Average
Exercise Price
Balance, March 26, 2022820 $57.75 
Options granted143 96.33 
Options exercised(225)45.10 
Options forfeited(18)71.14 
Options expired— — 
Balance, March 25, 2023720 $69.03 
Options granted132 92.69 
Options exercised(66)50.39 
Options forfeited— — 
Options expired— — 
Balance, March 30, 2024786 $74.56 
Options granted4 129.24 
Options exercised(257)59.93 
Options forfeited(29)91.26 
Options expired— — 
Balance, March 29, 2025504 $81.53 
Summary of Outstanding Options Vesting, Expected to Vest, or Exercisable
Additional information with regards to outstanding options that are vesting, expected to vest, or exercisable as of March 29, 2025 is as follows (in thousands, except years and per share amounts):
 
Number of
Options		Weighted
Average
Exercise price		Weighted Average
Remaining Contractual
Term (years)		Aggregate
Intrinsic Value
Vested and expected to vest495 $81.27 6.63$9,404 
Exercisable337 $74.72 5.87$8,497 
Summary of Outstanding and Exercisable Options
The following table summarizes information regarding outstanding and exercisable options as of March 29, 2025 (in thousands, except per share amounts):
 
 Options OutstandingOptions Exercisable
Weighted Average
Remaining
Contractual Life		Weighted
Average Exercise		NumberWeighted
Average
Range of Exercise PricesNumber(years)PriceExercisableExercise Price
$31.25 - $68.43
88 3.32$44.27 88 $44.27 
$68.56 - $78.00
95 5.4474.51 95 74.51 
$79.16 - $88.00
111 7.0085.69 80 85.76 
$93.24
113 8.8793.24 28 93.24 
$102.37
93 7.86102.37 46 102.37 
$129.24
4 9.33129.24 — — 
504 6.66$81.53 337 $74.72 
Summary of Restricted Stock and Restricted Stock Units Activity A summary of the activity for RSUs in fiscal year 2025, 2024, and 2023 is presented below (in thousands, except per share amounts):
 
SharesWeighted
Average
Fair Value
March 26, 20222,576 $74.45 
Granted1,574 75.97 
Vested(877)70.02 
Forfeited(183)75.58 
March 25, 20233,090 $76.42 
Granted1,099 71.12 
Vested(879)73.54 
Forfeited(211)75.70 
March 30, 20243,099 $75.41 
Granted711 105.87 
Vested(1,163)81.45 
Forfeited(115)78.41 
March 29, 20252,532 $81.04 
Summary of Restricted Stock Units Vesting or Expected to Vest Additional information with regards to outstanding RSUs that are expected to vest as of March 29, 2025, is as follows (in thousands, except year and per share amounts):
 
SharesWeighted
Average
Fair Value		Weighted Average
Remaining Contractual
Term (years)
Expected to vest2,396 $80.75 1.43
Summary of Monte Carlo Simulation Assumptions for Market Stock Units
The fair values estimated from the Monte Carlo simulation were calculated using a dividend yield of zero and the following additional assumptions:
 
 Fiscal Years Ended
March 29,
2025		March 30,
2024		March 25,
2023
Expected stock price volatility
39.34% - 41.61%
34.53%
35.18% - 46.50%
Risk-free interest rate
3.97% - 4.15%
4.12%
2.67% - 3.92%
Expected term (in years)3.003.003.00
Schedule of MSU and PSU Activity A summary of the activity for MSUs in fiscal year 2025, 2024, and 2023 is presented below (in thousands, except per share amounts):
 
SharesWeighted
Average
Fair Value
March 26, 202285 $95.75 
Granted38 135.87 
Vested(10)87.43 
Forfeited(24)94.80 
March 25, 202389 $113.83 
Granted35 141.48 
Vested(9)83.96 
Forfeited(14)83.96 
March 30, 2024101 $130.46 
Granted59 151.80 
Vested(47)109.18 
Forfeited(9)128.36 
March 29, 2025104 $152.23 
A summary of the activity for PSUs in fiscal year 2025 is presented below (in thousands, except per share amounts):

SharesWeighted Average Fair Value
March 30, 2024— $— 
Granted109 104.41 
Vested— — 
Forfeited— — 
March 29, 2025109 $104.41 
Summary of Outstanding MSUs and PSUs Expected to Vest Additional information with regard to outstanding MSUs that are expected to vest as of March 29, 2025 is as follows (in thousands, except year and per share amounts):
 
SharesWeighted
Average
Fair Value		Weighted Average
Remaining Contractual
Term (years)
Expected to vest97 $151.73 1.89
Additional information with regard to outstanding PSUs that are expected to vest as of March 29, 2025 is as follows (in thousands, except year and per share amounts):
 
SharesWeighted Average Fair ValueWeighted Average Remaining Contractual Term (years)
Expected to vest100 $104.41 2.14
v3.25.1
Commitment and Contingencies (Tables)
 12 Months Ended
Mar. 29, 2025
Commitments and Contingencies Disclosure [Abstract]  
Long-term Purchase Commitment
Total future unconditional purchase commitments as of March 29, 2025 were as follows (in thousands):
Fiscal Year
2026$405,585 
2027205,787 
20285,525 
2029— 
2030— 
Thereafter— 
Total$616,897 
v3.25.1
Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Mar. 29, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Summary of Changes in the Components of Accumulated Other Comprehensive Income (Loss)
The following table summarizes the changes in the components of accumulated other comprehensive loss, net of tax (in thousands):
Foreign
Currency		Unrealized Gains
(Losses) on Securities
Cumulative Effect of Adoption of ASU 2018-02
Total
Balance, March 25, 2023$(1,047)$(1,235)$(257)$(2,539)
Current period foreign exchange translation(850)— — (850)
Current period marketable securities activity— 996 — 996 
Tax effect— (210)— (210)
Balance, March 30, 2024$(1,897)$(449)$(257)$(2,603)
Current period foreign exchange translation(566)— — (566)
Current period marketable securities activity— 2,514 — 2,514 
Tax effect— (528)— (528)
Balance, March 29, 2025$(2,463)$1,537 $(257)$(1,183)
v3.25.1
Income Taxes (Tables)
 12 Months Ended
Mar. 29, 2025
Income Tax Disclosure [Abstract]  
Summary of Income Before Income Taxes
Income (loss) before income taxes consisted of (in thousands):
 Fiscal Years Ended
March 29,
2025		March 30,
2024		March 25,
2023
U.S.$538 $(10,343)$(141,670)
Non-U.S.444,376 374,279 396,409 
$444,914 $363,936 $254,739 
Summary of Provision (Benefit) for Income Taxes
The provision (benefit) for income taxes consists of (in thousands):
 Fiscal Years Ended
March 29,
2025		March 30,
2024		March 25,
2023
Current:
U.S.$39,932 $42,184 $60,603 
Non-U.S.73,573 60,615 52,023 
Total current tax provision$113,505 $102,799 $112,626 
Deferred:
U.S.1,575 (5,178)(28,529)
Non-U.S.(1,673)(8,257)(6,061)
Total deferred tax provision(98)(13,435)(34,590)
Total tax provision$113,407 $89,364 $78,036 
Summary of Provision (Benefit) for Income Taxes, Statutory Federal Rate Pretax Income Reconciliation
The effective income tax rates differ from the rates computed by applying the statutory federal rate to pretax income as follows (in percentages):
 Fiscal Years Ended
March 29,
2025		March 30,
2024		March 25,
2023
U.S. federal statutory rate21.0 21.0 21.0 
Foreign income taxed at different rates(3.5)(7.1)(14.4)
Stock-based compensation(1.7)(0.1)(0.3)
Foreign-derived intangible income deduction— (0.2)— 
GILTI and Subpart F income14.1 14.6 30.6 
Foreign tax credits(5.6)(4.1)(7.7)
Change in valuation allowance— — 0.2 
Release of prior year unrecognized tax benefits— (0.2)— 
Interest related to unrecognized tax benefits0.6 0.7 0.7 
U.S. research and development credit— (0.7)— 
Other0.6 0.7 0.5 
Effective tax rate25.5 24.6 30.6 
Significant Components of Deferred Tax Assets and Liabilities
Significant components of our deferred tax assets and liabilities as of March 29, 2025 and March 30, 2024 are (in thousands): 
March 29,
2025		March 30,
2024
Deferred tax assets:
Accrued expenses and allowances$3,939 $3,559 
Net operating loss carryforwards889 932 
Research and development tax credit carryforwards12,024 12,547 
Stock-based compensation23,099 28,437 
Lease liabilities23,562 25,564 
Capitalized research and development10,461 11,307 
Depreciation and amortization6,823 994 
Other714 938 
Total deferred tax assets$81,511 $84,278 
Valuation allowance for deferred tax assets(12,475)(12,508)
Net deferred tax assets$69,036 $71,770 
Deferred tax liabilities:
Right of use asset20,302 22,279 
Acquisition intangibles134 845 
Other450 — 
Total deferred tax liabilities$20,886 $23,124 
Total net deferred tax assets$48,150 $48,646 
Reconciliation of Unrecognized Tax Benefits
The following table summarizes the changes in the unrecognized tax benefits (in thousands): 
March 29,
2025		March 30,
2024
Beginning balance$32,077 $32,879 
Additions based on tax positions related to the current year— — 
Reduction for the lapse of applicable statute of limitations— (802)
Ending balance$32,077 $32,077 
v3.25.1
Segment Information (Tables)
 12 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Schedule of Significant Segment Operating Expense
The table below presents the Company's significant segment operating expenses (in thousands):
Fiscal Years Ended
March 29,
2025		March 30,
2024		March 25,
2023
Personnel-related (1)353,338 333,559 339,192 
Product development (2)64,946 65,912 71,245 
Other segment items (3)167,395 173,135 297,511 
Total Operating Expense$585,679 $572,606 $707,948 

(1) Personnel-related expenses include employee base pay, benefits, variable compensation and other employee-related expenses.
(2) Product development costs include software, engineering mask sets, wafers, and boards, as well as outside design services.
(3) Other segment items primarily include stock-based compensation, facilities-related costs, depreciation and amortization, and non-recurring charges, offset by the benefit received from research and development expenditure credits.
Schedule of Sales by Geographic Location Based on Customer Ship To Location
The following illustrates net sales by ship to location of the customer (in thousands):
 Fiscal Years Ended
March 29,
2025		March 30,
2024		March 25,
2023
China$1,126,367 $1,114,310 $1,230,602 
India205,902 125,138 69,343 
Hong Kong196,530 219,053 223,405 
South Korea142,655 119,532 93,177 
Vietnam123,073 96,080 93,760 
United States15,838 17,971 52,688 
Rest of World85,712 96,806 134,642 
Total consolidated net sales$1,896,077 $1,788,890 $1,897,617 
Schedule of Property, Plant, and Equipment, Net, by Geographic Location
The following illustrates property, plant and equipment, net, by geographic locations, based on physical location (in thousands):
 Fiscal Years Ended
March 29,
2025		March 30,
2024
United States$133,383 $140,300 
United Kingdom13,570 16,822 
Rest of World12,947 13,053 
Total consolidated property, plant and equipment, net$159,900 $170,175 
v3.25.1
Summary of Significant Accounting Policies (Narrative) (Details) - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Inventory Disclosure [Abstract]      
Inventory write-down $ 4,200    
Inventory reserve releases   $ (1,000)  
Property, Plant and Equipment, Net [Abstract]      
Gain on sale of assets 0 0  
Depreciation and amortization expense on property, plant and equipment 31,100 28,100 $ 27,100
Intangible Assets, Net (Including Goodwill) [Abstract]      
Impairment of goodwill 0 0 0
Intangibles impairment 0 0 85,760
Marketing and Advertising Expense [Abstract]      
Advertising costs $ 300 $ 300 $ 500
Government Assistance [Abstract]      
Government Assistance, Income, Increase (Decrease), Statement of Income or Comprehensive Income [Extensible Enumeration] Research and development Research and development Research and development
Earnings Per Share [Abstract]      
Weighted outstanding options excluded from diluted calculation (in shares) 225 325 268
Research and Development Expenditure Credit (“RDEC”)      
Government Assistance [Abstract]      
Government assistance, amount $ 43,000 $ 40,900 $ 26,200
Government assistance, amount, cumulative $ 0 $ 27,900  
Foxconn | Accounts Receivable | Customer Concentration Risk      
Concentration Of Credit Risk [Abstract]      
Concentration risk, percentage 41.00% 43.00%  
Luxsan | Accounts Receivable | Customer Concentration Risk      
Concentration Of Credit Risk [Abstract]      
Concentration risk, percentage 21.00%    
Luxshare Precision | Accounts Receivable | Customer Concentration Risk      
Concentration Of Credit Risk [Abstract]      
Concentration risk, percentage   11.00%  
Pegatron | Accounts Receivable | Customer Concentration Risk      
Concentration Of Credit Risk [Abstract]      
Concentration risk, percentage   10.00%  
Ten Largest Customers | Sales Revenue, Net | Customer Concentration Risk      
Concentration Of Credit Risk [Abstract]      
Concentration risk, percentage 96.00% 95.00% 92.00%
Apple, Inc. | Sales Revenue, Net | Customer Concentration Risk      
Concentration Of Credit Risk [Abstract]      
Concentration risk, percentage 89.00% 87.00% 83.00%
Capitalized Software      
Property, Plant and Equipment, Net [Abstract]      
Estimated useful life 3 years    
Capitalized Enterprise Resource Planning Software      
Property, Plant and Equipment, Net [Abstract]      
Estimated useful life 10 years    
Minimum      
Intangible Assets, Net (Including Goodwill) [Abstract]      
Intangible assets, useful life 1 year    
Acquired intangible assets, useful life 1 year    
Contract Balance Payment Terms [Abstract]      
Contract balance, payment term 30 days    
Share-based Compensation [Abstract]      
Share-based compensation, vesting period 1 year    
Minimum | Property, Plant and Equipment      
Property, Plant and Equipment, Net [Abstract]      
Estimated useful life 3 years    
Minimum | Furniture, Fixtures, Machinery and Equipment      
Property, Plant and Equipment, Net [Abstract]      
Estimated useful life 3 years    
Maximum      
Intangible Assets, Net (Including Goodwill) [Abstract]      
Intangible assets, useful life 5 years    
Acquired intangible assets, useful life 15 years    
Contract Balance Payment Terms [Abstract]      
Contract balance, payment term 60 days    
Share-based Compensation [Abstract]      
Share-based compensation, vesting period 4 years    
Maximum | Property, Plant and Equipment      
Property, Plant and Equipment, Net [Abstract]      
Estimated useful life 39 years    
Maximum | Furniture, Fixtures, Machinery and Equipment      
Property, Plant and Equipment, Net [Abstract]      
Estimated useful life 10 years    
Maximum | Buildings      
Property, Plant and Equipment, Net [Abstract]      
Estimated useful life 39 years    
v3.25.1
Summary of Significant Accounting Policies (Schedule of Inventories) (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Mar. 30, 2024
Accounting Policies [Abstract]    
Work in process $ 216,173 $ 130,842
Finished goods 82,919 96,406
Inventories $ 299,092 $ 227,248
v3.25.1
Summary of Significant Accounting Policies (Components of Property, Plant and Equipment) (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Mar. 30, 2024
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment $ 429,569 $ 423,589
Less: Accumulated depreciation and amortization (269,669) (253,414)
Property, plant and equipment, net 159,900 170,175
Land    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment 23,853 23,853
Buildings    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment 64,148 64,056
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment 29,875 30,462
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment 80,683 81,118
Machinery and equipment    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment 208,567 200,999
Capitalized software    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment 21,709 23,092
Construction in progress and other    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment $ 734 $ 9
v3.25.1
Summary of Significant Accounting Policies (Calculation of Basic and Diluted Earnings Per Share) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Numerator:      
Net income $ 331,507 $ 274,572 $ 176,703
Denominator:      
Weighted average shares outstanding (in shares) 53,135 54,290 55,614
Effect of dilutive securities (in shares) 2,106 1,731 1,612
Weighted average diluted shares (in shares) 55,241 56,021 57,226
Basic earnings per share (in dollars per share) $ 6.24 $ 5.06 $ 3.18
Diluted earnings per share (in dollars per share) $ 6.00 $ 4.90 $ 3.09
v3.25.1
Marketable Securities (Schedule of Available-for-sale Securities) (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Mar. 30, 2024
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost $ 293,574 $ 198,045
Gross Unrealized Gains 1,680 115
Gross Unrealized Losses (58) (1,008)
Estimated Fair Value (Net Carrying Amount) 295,196 197,152
Corporate debt securities    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 284,885 186,194
Gross Unrealized Gains 1,635 115
Gross Unrealized Losses (55) (916)
Estimated Fair Value (Net Carrying Amount) 286,465 185,393
U.S. Treasury securities    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 8,689 9,850
Gross Unrealized Gains 45 0
Gross Unrealized Losses (3) (81)
Estimated Fair Value (Net Carrying Amount) $ 8,731 9,769
Agency discount notes    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost   1,135
Gross Unrealized Gains   0
Gross Unrealized Losses   (11)
Estimated Fair Value (Net Carrying Amount)   1,124
Commercial paper    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost   866
Gross Unrealized Gains   0
Gross Unrealized Losses   0
Estimated Fair Value (Net Carrying Amount)   $ 866
v3.25.1
Marketable Securities (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Debt Securities, Available-for-sale [Line Items]    
Gross unrealized losses $ 58 $ 1,008
Amortized cost on available for sale securities held at gross unrealized loss 29,800 172,100
Securities in a continuous unrealized loss position for more than 12 months, amortized cost $ 1,900 25,000
Securities in a continuous unrealized loss position for more than 12 months, aggregate unrealized loss   $ 300
Minimum    
Debt Securities, Available-for-sale [Line Items]    
Maturity period for highly-rated securities 1 year  
Maximum    
Debt Securities, Available-for-sale [Line Items]    
Maturity period for highly-rated securities 3 years  
v3.25.1
Marketable Securities (Schedule of Cost and Estimated Fair Value of Available-for-sale Securities by Contractual Maturity) (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Mar. 30, 2024
Marketable Securities [Abstract]    
Within 1 year, Amortized Cost $ 56,044 $ 24,071
After 1 year, Amortized Cost 237,530 173,974
Amortized Cost 293,574 198,045
Within 1 year, Estimated Fair Value 56,160 23,778
After 1 year, Estimated Fair Value 239,036 173,374
Estimated Fair Value (Net Carrying Amount) $ 295,196 $ 197,152
v3.25.1
Fair Value of Financial Instruments (Narrative) (Details) - USD ($)
Mar. 20, 2023
Mar. 29, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-term line of credit   $ 0
Long-term revolving facility, fair value   $ 0
Second Amended Credit Agreement Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Revolving Credit Facility | Line of Credit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Basis spread on variable interest rate 0.10%  
v3.25.1
Fair Value of Financial Instruments (Schedule of Fair Value of Financial Assets and Liabilities) (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Mar. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   $ 439,465
Available-for-sale securities $ 295,196 197,152
Quoted Prices in Active Markets for Identical Assets Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   439,065
Available-for-sale securities 8,731 9,769
Significant Other Observable Inputs Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   400
Available-for-sale securities 286,465 187,383
Significant Unobservable Inputs Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   0
Available-for-sale securities 0 0
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities 286,465 185,393
Corporate debt securities | Quoted Prices in Active Markets for Identical Assets Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities 0 0
Corporate debt securities | Significant Other Observable Inputs Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities 286,465 185,393
Corporate debt securities | Significant Unobservable Inputs Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities 0 0
U.S. Treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities 8,731 9,769
U.S. Treasury securities | Quoted Prices in Active Markets for Identical Assets Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities 8,731 9,769
U.S. Treasury securities | Significant Other Observable Inputs Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities 0 0
U.S. Treasury securities | Significant Unobservable Inputs Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities 0 0
Agency discount notes    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities   1,124
Agency discount notes | Quoted Prices in Active Markets for Identical Assets Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities   0
Agency discount notes | Significant Other Observable Inputs Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities   1,124
Agency discount notes | Significant Unobservable Inputs Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities   0
Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities   866
Commercial paper | Quoted Prices in Active Markets for Identical Assets Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities   0
Commercial paper | Significant Other Observable Inputs Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities   866
Commercial paper | Significant Unobservable Inputs Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities   0
Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 491,467 439,065
Money market funds | Quoted Prices in Active Markets for Identical Assets Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 491,467 439,065
Money market funds | Significant Other Observable Inputs Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0 0
Money market funds | Significant Unobservable Inputs Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents $ 0 0
Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   400
Certificates of deposit | Quoted Prices in Active Markets for Identical Assets Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   0
Certificates of deposit | Significant Other Observable Inputs Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   400
Certificates of deposit | Significant Unobservable Inputs Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   $ 0
v3.25.1
Derivative Financial Instruments (Details)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
USD ($)
derivativeContract
Mar. 30, 2024
USD ($)
Mar. 25, 2023
USD ($)
Derivative Instruments, Gain (Loss) [Line Items]      
Number of foreign currency derivatives held | derivativeContract 1    
Notional value of foreign currency forward contract $ 21,500    
Foreign currency forward contracts | Not Designated as Hedging Instrument      
Derivative Instruments, Gain (Loss) [Line Items]      
Loss recognized in income, foreign currency forward contracts $ (2) $ (431) $ (564)
v3.25.1
Accounts Receivable, net (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Mar. 30, 2024
Accounts Receivable, after Allowance for Credit Loss [Abstract]    
Gross accounts receivable $ 216,009 $ 162,478
Allowance for doubtful accounts 0 0
Accounts receivable, net $ 216,009 $ 162,478
v3.25.1
Intangibles, net and Goodwill (Schedule of Gross Carrying Amount and Amortization of Intangible Assets) (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Mar. 30, 2024
Finite-Lived Intangible Assets [Line Items]    
Gross Amount $ 177,556 $ 172,219
Accumulated Amortization (150,095) (142,641)
Net Carrying Value $ 27,461 29,578
Existing technology    
Finite-Lived Intangible Assets [Line Items]    
Weighted-average amortization period 3 years 3 months 18 days  
Gross Amount $ 146,146 146,146
Accumulated Amortization (124,183) (117,595)
Net Carrying Value 21,963 28,551
Customer Relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross Amount 15,381 15,381
Accumulated Amortization (15,381) (14,840)
Net Carrying Value $ 0 541
Technology licenses    
Finite-Lived Intangible Assets [Line Items]    
Weighted-average amortization period 9 years 2 months 12 days  
Gross Amount $ 16,029 10,692
Accumulated Amortization (10,531) (10,206)
Net Carrying Value $ 5,498 $ 486
v3.25.1
Intangibles, net and Goodwill (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization expense for intangibles $ 7,600 $ 9,000 $ 33,700
Goodwill $ 435,936 $ 435,936  
v3.25.1
Intangibles, net and Goodwill (Schedule of Estimated Aggregate Amortization Expense for Intangibles) (Details)
$ in Thousands
Mar. 29, 2025
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2026 $ 7,290
2027 7,210
2028 7,057
2029 2,613
2030 417
Thereafter $ 2,874
v3.25.1
Revolving Credit Facility (Narrative) (Details) - Second Amended Credit Agreement Revolving Credit Facility - USD ($)
Mar. 20, 2023
Jul. 08, 2021
Mar. 29, 2025
Line of Credit Facility [Line Items]      
Line of credit facility maximum borrowing capacity   $ 300,000,000  
Debt covenant, exclusion of unrestricted cash and cash equivalents for ratio of consolidated funded indebtedness $ 200,000,000    
Debt covenant, maximum consolidated net leverage ratio 3.00    
Debt covenant, minimum consolidated interest coverage ratio 3.00    
Amount outstanding     $ 0
Minimum      
Line of Credit Facility [Line Items]      
Line of credit facility, unused capacity, commitment fee percentage   0.175%  
Maximum      
Line of Credit Facility [Line Items]      
Line of credit facility, unused capacity, commitment fee percentage   0.275%  
Secured Overnight Financing Rate (SOFR) | Revolving Credit Facility | Line of Credit      
Line of Credit Facility [Line Items]      
Basis spread on variable interest rate 0.10%    
Secured Overnight Financing Rate (SOFR) | Revolving Credit Facility | Line of Credit | Minimum      
Line of Credit Facility [Line Items]      
Basis spread on variable interest rate 1.00%    
Secured Overnight Financing Rate (SOFR) | Revolving Credit Facility | Line of Credit | Maximum      
Line of Credit Facility [Line Items]      
Basis spread on variable interest rate 1.75%    
Variable Rate Component Two | Revolving Credit Facility | Line of Credit | Minimum      
Line of Credit Facility [Line Items]      
Basis spread on variable interest rate   0.00%  
Variable Rate Component Two | Revolving Credit Facility | Line of Credit | Maximum      
Line of Credit Facility [Line Items]      
Basis spread on variable interest rate   0.75%  
v3.25.1
Revolving Credit Facility (Future Interest Payment Obligations) (Details)
$ in Thousands
Mar. 29, 2025
USD ($)
Future Interest Payment Obligations [Roll Forward]  
2026 $ 532
2027 277
2028 0
2029 0
2030 0
Thereafter 0
Total $ 809
v3.25.1
Revenues (Product Line Disaggregation of Revenue) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Disaggregation of Revenue [Line Items]      
Net sales $ 1,896,077 $ 1,788,890 $ 1,897,617
Audio Products      
Disaggregation of Revenue [Line Items]      
Net sales 1,137,157 1,083,939 1,172,007
HPMS Products      
Disaggregation of Revenue [Line Items]      
Net sales $ 758,920 $ 704,951 $ 725,610
v3.25.1
Revenues (Geographic Disaggregation of Revenue) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Disaggregation of Revenue [Line Items]      
Net sales $ 1,896,077 $ 1,788,890 $ 1,897,617
China      
Disaggregation of Revenue [Line Items]      
Net sales 1,126,367 1,114,310 1,230,602
United States      
Disaggregation of Revenue [Line Items]      
Net sales 15,838 17,971 52,688
Rest of World      
Disaggregation of Revenue [Line Items]      
Net sales $ 753,872 $ 656,609 $ 614,327
v3.25.1
Leases (Narrative) (Details)
$ in Millions
Mar. 29, 2025
USD ($)
Lessee, Lease, Description [Line Items]  
Operating lease undiscounted amount $ 5
Minimum  
Lessee, Lease, Description [Line Items]  
Lease term 1 year
Maximum  
Lessee, Lease, Description [Line Items]  
Lease term 24 years
Operating lease term of contract 10 years
v3.25.1
Leases (Schedule of Lease Expense, Lease Income, and Other Information) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Leases [Abstract]    
Operating lease - in excess of 12 months $ 19,750 $ 17,498
Variable lease 6,137 5,259
Short-term lease 351 853
Operating lease income (944) (164)
Total net operating lease expense $ 25,294 $ 23,446
Operating Lease Income Comprehensive Income Extensible List Not Disclosed Flag Operating lease income Operating lease income
Balance Sheet Information (in thousands)    
Operating lease right-of-use assets $ 126,688 $ 138,288
Operating lease liabilities 143,719 155,216
Cash Flow Information (in thousands)    
Operating cash outflows from operating leases 21,965 19,189
Non-Cash Information    
Right-of-use assets obtained in exchange for new operating lease liabilities 3,538 24,784
Lease remeasurements (1,078) (1,606)
Lease impairments and other related charges $ 0 $ (563)
Operating Lease Information    
Weighted-average remaining lease term - operating leases (in years) 11 years 12 years
Weighted-average discount rate - operating leases 4.00% 4.00%
v3.25.1
Leases (Schedule of Future Lease Commitments) (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Mar. 30, 2024
Operating Lease Commitments    
2026 $ 21,915  
2027 19,239  
2028 19,702  
2029 19,487  
2030 16,945  
Thereafter 86,104  
Total 183,392  
Less imputed interest and other (39,673)  
Total 143,719 $ 155,216
Operating Lease Income    
2026 (1,578)  
2027 (1,889)  
2028 (2,029)  
2029 (1,418)  
2030 0  
Thereafter 0  
Total (6,914)  
Less imputed interest and other 0  
Total $ (6,914)  
v3.25.1
Leases (Schedule of Lease Liabilities) (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Mar. 30, 2024
Leases [Abstract]    
Current lease liabilities $ 21,811 $ 20,640
Non-current lease liabilities 121,908 134,576
Total operating lease liabilities $ 143,719 $ 155,216
v3.25.1
Postretirement Benefit Plans (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Retirement Benefits [Abstract]      
Employee matching contribution $ 11.3 $ 11.0 $ 10.2
v3.25.1
Equity Compensation (Narrative) (Details)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Mar. 29, 2025
USD ($)
$ / shares
shares
Mar. 30, 2024
USD ($)
$ / shares
shares
Mar. 25, 2023
USD ($)
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares available for grant reduction ratio 1.5    
Stock-based compensation expense $ 84,146 $ 89,271 $ 81,641
Excess tax benefits, amount 9,400 200 1,400
Net amount received from exercise of stock options granted $ 15,400 $ 3,300 $ 10,100
Options exercised (in shares) | shares 257 66 225
Total intrinsic value of stock options exercised $ 14,700 $ 2,800 $ 11,400
Fair value of options that became vested during the period $ 4,300 $ 4,200 $ 3,000
Number of options exercisable (in shares) | shares 337 500 500
Weighted Average Estimated Fair Value Using Black-Scholes Option Valuation Model      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Fair value of stock options granted under the Black-Scholes valuation model (in dollars per share) | $ / shares $ 54.04 $ 39.61 $ 42.37
Employee Stock Option      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Compensation costs related to equity incentive plans, weighted average recognition period 1 year 5 months 23 days    
Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Compensation costs related to equity incentive plans, weighted average recognition period 1 year 5 months 12 days    
Vesting percentage 100.00%    
Intrinsic value of awards outstanding $ 252,000 $ 286,900 $ 326,300
Fair value of awards vested $ 94,700 $ 64,600 $ 61,400
Shares vested (in shares) | shares 1,163 879 877
Shares withheld to satisfy tax withholding requirements (in shares) | shares 300 300 200
Payment to taxing authorities $ 36,400 $ 18,900 $ 18,000
Weighted averaged estimated fair value of awards granted (in dollars per share) | $ / shares $ 105.87 $ 71.12 $ 75.97
Market Stock Unit (MSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation, vesting period 3 years    
Compensation costs related to equity incentive plans, weighted average recognition period 1 year 11 months 1 day    
Intrinsic value of awards outstanding $ 10,400 $ 9,400 $ 9,300
Fair value of awards vested $ 5,100 $ 800 $ 800
Shares vested (in shares) | shares 47 9 10
Weighted averaged estimated fair value of awards granted (in dollars per share) | $ / shares $ 151.80 $ 141.48 $ 135.87
Market Stock Unit (MSUs) | Weighted Average Estimated Fair Value Using Monte Carlo Simulation Model      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted averaged estimated fair value of awards granted (in dollars per share) | $ / shares $ 151.8    
Performance Stock Units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Compensation costs related to equity incentive plans, weighted average recognition period 2 years 1 month 28 days    
Intrinsic value of awards outstanding $ 10,900    
Shares vested (in shares) | shares 0    
Weighted averaged estimated fair value of awards granted (in dollars per share) | $ / shares $ 104.41    
RSUs PSUs and MSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation expense $ 80,700 $ 85,100 $ 78,000
Options RSUs MSUs and PSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Compensation costs related to equity incentive plans not yet recognized $ 138,700    
Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation, vesting period 1 year    
Minimum | Employee Stock Option      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation, vesting period 1 year    
Minimum | Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation, vesting period 1 year    
Minimum | Performance Stock Units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation, vesting period 1 year    
Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation, vesting period 4 years    
Maximum | Employee Stock Option      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation, vesting period 4 years    
Share based compensation, period from grant date options are exercisable 10 years    
Maximum | Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation, vesting period 3 years    
Maximum | Performance Stock Units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based compensation, vesting period 3 years    
v3.25.1
Equity Compensation (Summary of Activity in Total Stock Available for Grant) (Details) - shares
shares in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, AvailableGranted [Roll Forward]      
Shares available for grant, beginning balance (in shares) 978 2,474 2,617
Shares available for grant, shares added (in shares) 2,670 0 2,090
Shares available for grant, granted (in shares) (1,322) (1,813) (2,536)
Shares available for grant, forfeited (in shares) 214 317 303
Shares available for grant, ending balance (in shares) 2,540 978 2,474
v3.25.1
Equity Compensation (Summary of Effect of Stock-Based Compensation) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Effect on pre-tax income $ 84,146 $ 89,271 $ 81,641
Income Tax Benefit (19,152) (20,646) (15,184)
Total stock-based compensation expense (net of taxes) $ 64,994 $ 68,625 $ 66,457
Share based compensation effects on basic earnings per share (in dollars per share) $ 1.22 $ 1.26 $ 1.19
Share based compensation effects on diluted earnings per share (in dollars per share) $ 1.18 $ 1.22 $ 1.16
Cost of sales      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Effect on pre-tax income $ 1,332 $ 1,403 $ 1,270
Research and development      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Effect on pre-tax income 59,184 63,678 57,312
Sales, general and administrative      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Effect on pre-tax income $ 23,630 $ 24,190 $ 23,059
v3.25.1
Equity Compensation (Schedule of Fair Value of Stock Option Grants) (Details) - Employee Stock Option
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Dividend yield 0.00%    
Expected stock price volatility 35.70%    
Risk-free interest rate 4.33%    
Expected term (in years) 3 years 8 months 23 days    
Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected stock price volatility   34.53% 35.18%
Risk-free interest rate   3.99% 2.47%
Expected term (in years)   3 years 10 months 6 days 4 years 14 days
Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected stock price volatility   39.92% 46.50%
Risk-free interest rate   4.11% 3.96%
Expected term (in years)   4 years 25 days 4 years 3 months 29 days
v3.25.1
Equity Compensation (Schedule of Stock Option Activity) (Details) - $ / shares
shares in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Number      
Beginning balance (in shares) 786 720 820
Options granted (in shares) 4 132 143
Options exercised (in shares) (257) (66) (225)
Options forfeited (in shares) (29) 0 (18)
Options expired (in shares) 0 0 0
Ending balance (in shares) 504 786 720
Weighted Average Exercise Price      
Beginning balance (in dollars per share) $ 74.56 $ 69.03 $ 57.75
Options granted (in dollars per share) 129.24 92.69 96.33
Options exercised (in dollars per share) 59.93 50.39 45.10
Options forfeited (in dollars per share) 91.26 0 71.14
Options expired (in dollars per share) 0 0 0
Ending balance (in dollars per share) $ 81.53 $ 74.56 $ 69.03
v3.25.1
Equity Compensation (Summary of Outstanding Options Vesting, Expected to Vest, or Exercisable) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]      
Number of Options, Vested and expected to vest (in shares) 495    
Weighted Average Exercise Price, Vested and expected to vest (in dollars per share) $ 81.27    
Weighted Average Remaining Contractual Term, Vested and expected to vest 6 years 7 months 17 days    
Aggregate Intrinsic Value, Vested and expected to vest $ 9,404    
Number of Options, Exercisable (in shares) 337 500 500
Weighted Average Exercise Price, Exercisable (in dollars per share) $ 74.72    
Weighted Average Remaining Contractual Term, Exercisable 5 years 10 months 13 days    
Aggregate Intrinsic Value, Exercisable $ 8,497    
v3.25.1
Equity Compensation (Summary of Outstanding and Exercisable Options) (Details)
shares in Thousands
 12 Months Ended
Mar. 29, 2025
$ / shares
shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Options Outstanding, Number (in shares) | shares 504
Weighted Average Remaining Contractual Life 6 years 7 months 28 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share) $ 81.53
Options Exercisable, Number Exercisable (in shares) | shares 337
Options Exercisable, Weighted Average Exercise Price (in dollars per share) $ 74.72
$31.25 - $68.43 (in dollars per share)  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Range of Exercise Prices, lower limit (in dollars per share) 31.25
Range of Exercise Prices, upper limit (in dollars per share) $ 68.43
Options Outstanding, Number (in shares) | shares 88
Weighted Average Remaining Contractual Life 3 years 3 months 25 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share) $ 44.27
Options Exercisable, Number Exercisable (in shares) | shares 88
Options Exercisable, Weighted Average Exercise Price (in dollars per share) $ 44.27
$68.56 - $78.00 (in dollars per share)  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Range of Exercise Prices, lower limit (in dollars per share) 68.56
Range of Exercise Prices, upper limit (in dollars per share) $ 78.00
Options Outstanding, Number (in shares) | shares 95
Weighted Average Remaining Contractual Life 5 years 5 months 8 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share) $ 74.51
Options Exercisable, Number Exercisable (in shares) | shares 95
Options Exercisable, Weighted Average Exercise Price (in dollars per share) $ 74.51
$79.16 - $88.00 (in dollars per share)  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Range of Exercise Prices, lower limit (in dollars per share) 79.16
Range of Exercise Prices, upper limit (in dollars per share) $ 88.00
Options Outstanding, Number (in shares) | shares 111
Weighted Average Remaining Contractual Life 7 years
Options Outstanding, Weighted Average Exercise Price (in dollars per share) $ 85.69
Options Exercisable, Number Exercisable (in shares) | shares 80
Options Exercisable, Weighted Average Exercise Price (in dollars per share) $ 85.76
$93.24 (in dollars per share)  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Range of Exercise Prices, lower limit (in dollars per share) $ 93.24
Options Outstanding, Number (in shares) | shares 113
Weighted Average Remaining Contractual Life 8 years 10 months 13 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share) $ 93.24
Options Exercisable, Number Exercisable (in shares) | shares 28
Options Exercisable, Weighted Average Exercise Price (in dollars per share) $ 93.24
$102.37 (in dollars per share)  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Range of Exercise Prices, lower limit (in dollars per share) $ 102.37
Options Outstanding, Number (in shares) | shares 93
Weighted Average Remaining Contractual Life 7 years 10 months 9 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share) $ 102.37
Options Exercisable, Number Exercisable (in shares) | shares 46
Options Exercisable, Weighted Average Exercise Price (in dollars per share) $ 102.37
$129.24 (in dollars per share)  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Range of Exercise Prices, lower limit (in dollars per share) $ 129.24
Options Outstanding, Number (in shares) | shares 4
Weighted Average Remaining Contractual Life 9 years 3 months 29 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share) $ 129.24
Options Exercisable, Number Exercisable (in shares) | shares 0
Options Exercisable, Weighted Average Exercise Price (in dollars per share) $ 0
v3.25.1
Equity Compensation (Summary of Restricted Stock Unit Activity) (Details) - Restricted Stock Units (RSUs) - $ / shares
shares in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Shares      
Beginning balance (in shares) 3,099 3,090 2,576
Granted (in shares) 711 1,099 1,574
Vested (in shares) (1,163) (879) (877)
Forfeited (in shares) (115) (211) (183)
Ending balance (in shares) 2,532 3,099 3,090
Weighted Average Fair Value      
Beginning balance (in dollars per share) $ 75.41 $ 76.42 $ 74.45
Granted (in dollars per share) 105.87 71.12 75.97
Vested (in dollars per share) 81.45 73.54 70.02
Forfeited (in dollars per share) 78.41 75.70 75.58
Ending balance (in dollars per share) $ 81.04 $ 75.41 $ 76.42
v3.25.1
Equity Compensation (Summary of Restricted Stock Units Expected to Vest) (Details) - Restricted Stock Units (RSUs)
shares in Thousands
 12 Months Ended
Mar. 29, 2025
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Shares, expected to vest (in shares) | shares 2,396
Weighted Average Fair Value, expected to vest (in dollars per share) | $ / shares $ 80.75
Weighted Average Remaining Contractual Term, expected to vest 1 year 5 months 4 days
v3.25.1
Equity Compensation (Schedule of Fair Value Market Stock Units Assumptions) (Details) - Market Stock Unit (MSUs)
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Dividend yield 0.00%    
Expected stock price, minimum 39.34%   35.18%
Expected stock price, maximum 41.61%   46.50%
Expected stock price volatility   34.53%  
Risk free interest rate, minimum 3.97%   2.67%
Risk free interest rate, maximum 4.15%   3.92%
Risk-free interest rate   4.12%  
Expected term (in years) 3 years 3 years 3 years
v3.25.1
Equity Compensation (Summary of Market Stock Unit Activity) (Details) - Market Stock Unit (MSUs) - $ / shares
shares in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Shares      
Beginning balance (in shares) 101 89 85
Granted (in shares) 59 35 38
Vested (in shares) (47) (9) (10)
Forfeited (in shares) (9) (14) (24)
Ending balance (in shares) 104 101 89
Weighted Average Fair Value      
Beginning balance (in dollars per share) $ 130.46 $ 113.83 $ 95.75
Granted (in dollars per share) 151.80 141.48 135.87
Vested (in dollars per share) 109.18 83.96 87.43
Forfeited (in dollars per share) 128.36 83.96 94.80
Ending balance (in dollars per share) $ 152.23 $ 130.46 $ 113.83
v3.25.1
Equity Compensation (Summary of Market Stock Units Expected to Vest) (Details) - Market Stock Unit (MSUs)
shares in Thousands
 12 Months Ended
Mar. 29, 2025
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Shares, expected to vest (in shares) | shares 97
Weighted Average Fair Value, expected to vest (in dollars per share) | $ / shares $ 151.73
Weighted Average Remaining Contractual Term, expected to vest 1 year 10 months 20 days
v3.25.1
Equity Compensation (Summary of Performance Based Units) (Details) - Performance Stock Units
shares in Thousands
 12 Months Ended
Mar. 29, 2025
$ / shares
shares
Shares  
Beginning balance (in shares) | shares 0
Granted (in shares) | shares 109
Vested (in shares) | shares 0
Forfeited (in shares) | shares 0
Ending balance (in shares) | shares 109
Weighted Average Fair Value  
Beginning balance (in dollars per share) | $ / shares $ 0
Granted (in dollars per share) | $ / shares 104.41
Vested (in dollars per share) | $ / shares 0
Forfeited (in dollars per share) | $ / shares 0
Ending balance (in dollars per share) | $ / shares $ 104.41
v3.25.1
Equity Compensation (Summary of Performance Based Units Expected to Vest) (Details) - Performance Stock Units
shares in Thousands
 12 Months Ended
Mar. 29, 2025
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Shares, expected to vest (in shares) | shares 100
Weighted Average Fair Value, expected to vest (in dollars per share) | $ / shares $ 104.41
Weighted Average Remaining Contractual Term, expected to vest 2 years 1 month 20 days
v3.25.1
Commitments and Contingencies (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jul. 28, 2021
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Commitments [Line Items]        
Rent expense   $ 26,200 $ 23,600 $ 24,400
Rental income   900 $ 200 $ 500
Capacity reservation fee $ 60,000      
Reservation fees   16,000    
Prepaid wafers $ 195,000      
Prepaid balance   68,000    
Purchase obligation   616,897    
Minimum        
Commitments [Line Items]        
Purchase obligation   $ 450,000    
v3.25.1
Commitments and Contingencies (Purchase Commitments) (Details)
$ in Thousands
Mar. 29, 2025
USD ($)
Purchase Obligation, Fiscal Year Maturity [Abstract]  
2026 $ 405,585
2027 205,787
2028 5,525
2029 0
2030 0
Thereafter 0
Total $ 616,897
v3.25.1
Stockholders' Equity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Jul. 31, 2022
Equity, Class of Treasury Stock [Line Items]        
Accrued excise tax $ 1,400      
Repurchase and retirement of common stock, value $ 262,436 $ 187,327 $ 191,383  
Preferred stock, shares authorized (in shares) 5,000,000 5,000,000    
Preferred stock, shares issued (in shares) 0      
July 2022 Repurchase Authorization        
Equity, Class of Treasury Stock [Line Items]        
Share repurchase authorization, amount approved       $ 500,000
Repurchase and retirement of common stock (in shares) 2,300,000      
Repurchase and retirement of common stock, value $ 261,000      
Average cost per share repurchased (in dollars per share) $ 112.33      
Share repurchase authorization, remaining authorized repurchase amount $ 54,100      
2025 Repurchase Program        
Equity, Class of Treasury Stock [Line Items]        
Share repurchase authorization, amount approved $ 500,000      
Repurchase and retirement of common stock (in shares) 0      
v3.25.1
Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance $ 1,817,014 $ 1,658,282 $ 1,599,817
Current period foreign exchange translation (566) (850) (834)
Ending balance 1,949,449 1,817,014 1,658,282
Foreign Currency      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (1,897) (1,047)  
Current period foreign exchange translation (566) (850)  
Current period marketable securities activity 0 0  
Tax effect 0 0  
Ending balance (2,463) (1,897) (1,047)
Unrealized Gains (Losses) on Securities      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (449) (1,235)  
Current period foreign exchange translation 0 0  
Current period marketable securities activity 2,514 996  
Tax effect (528) (210)  
Ending balance 1,537 (449) (1,235)
Accumulated Other Comprehensive Income / (Loss)      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (2,603) (2,539) (2,045)
Current period foreign exchange translation (566) (850)  
Current period marketable securities activity 2,514 996  
Tax effect (528) (210)  
Ending balance (1,183) (2,603) (2,539)
Accumulated Other Comprehensive Income / (Loss) | Revision of Prior Period, Accounting Standards Update, Adjustment      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (257) (257)  
Current period foreign exchange translation 0 0  
Current period marketable securities activity 0 0  
Tax effect 0 0  
Ending balance $ (257) $ (257) $ (257)
v3.25.1
Income Taxes (Summary of Income Before Income Taxes) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Income Tax Disclosure [Abstract]      
U.S. $ 538 $ (10,343) $ (141,670)
Non-U.S. 444,376 374,279 396,409
Income before income taxes $ 444,914 $ 363,936 $ 254,739
v3.25.1
Income Taxes (Summary of Provision (Benefit) for Income Taxes) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Income Taxes [Line Items]      
Total current tax provision $ 113,505 $ 102,799 $ 112,626
Total deferred tax provision (98) (13,435) (34,590)
Total tax provision 113,407 89,364 78,036
U.S.      
Income Taxes [Line Items]      
Total current tax provision 39,932 42,184 60,603
Total deferred tax provision 1,575 (5,178) (28,529)
Non-U.S.      
Income Taxes [Line Items]      
Total current tax provision 73,573 60,615 52,023
Total deferred tax provision $ (1,673) $ (8,257) $ (6,061)
v3.25.1
Income Taxes (Summary of Provision (Benefit) for Income Taxes, Statutory Federal Rate Pretax Income Reconciliation) (Details)
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Income Tax Disclosure [Abstract]      
U.S. federal statutory rate 21.00% 21.00% 21.00%
Foreign income taxed at different rates (3.50%) (7.10%) (14.40%)
Stock-based compensation (1.70%) (0.10%) (0.30%)
Foreign-derived intangible income deduction 0.00% (0.20%) 0.00%
GILTI and Subpart F income 14.10% 14.60% 30.60%
Foreign tax credits (5.60%) (4.10%) (7.70%)
Change in valuation allowance 0.00% 0.00% 0.20%
Release of prior year unrecognized tax benefits 0.00% (0.20%) 0.00%
Interest related to unrecognized tax benefits 0.60% 0.70% 0.70%
U.S. research and development credit 0.00% (0.70%) 0.00%
Other 0.60% 0.70% 0.50%
Effective tax rate 25.50% 24.60% 30.60%
v3.25.1
Income Taxes (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Income Taxes [Line Items]      
Provision for one-time transition tax liability $ 10,700    
Decrease in valuation allowance (33)    
Valuation allowance increase 206    
Valuation allowance decrease 239    
Gross unrecognized tax benefits 32,077 $ 32,077 $ 32,879
Interest expense incurred during period 2,800 $ 2,400  
Interest Accrued 12,000    
Estimate of possible loss 168,300    
Income tax examination, estimate of possible loss, penalties expense 63,700    
Federal      
Income Taxes [Line Items]      
Net operating loss carryforwards 1,500    
Non-U.S.      
Income Taxes [Line Items]      
Net operating loss carryforwards 200    
State      
Income Taxes [Line Items]      
Net operating loss carryforwards 6,200    
Research Tax Credit Carryforward | State      
Income Taxes [Line Items]      
Tax credit carryforward $ 12,100    
v3.25.1
Income Taxes (Significant Components of Deferred Tax Assets and Liabilities) (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Mar. 30, 2024
Deferred tax assets:    
Accrued expenses and allowances $ 3,939 $ 3,559
Net operating loss carryforwards 889 932
Research and development tax credit carryforwards 12,024 12,547
Stock-based compensation 23,099 28,437
Lease liabilities 23,562 25,564
Capitalized research and development 10,461 11,307
Depreciation and amortization 6,823 994
Other 714 938
Total deferred tax assets 81,511 84,278
Valuation allowance for deferred tax assets (12,475) (12,508)
Net deferred tax assets 69,036 71,770
Deferred tax liabilities:    
Right of use asset 20,302 22,279
Acquisition intangibles 134 845
Other 450 0
Total deferred tax liabilities 20,886 23,124
Total net deferred tax assets $ 48,150 $ 48,646
v3.25.1
Income Taxes (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Unrecognized Tax Benefits [Roll Forward]    
Beginning balance $ 32,077 $ 32,879
Additions based on tax positions related to the current year 0 0
Reduction for the lapse of applicable statute of limitations 0 (802)
Ending balance $ 32,077 $ 32,077
v3.25.1
Segment Information (Narrative) (Details)
 12 Months Ended
Mar. 29, 2025
segment
product_line
Segment Reporting [Abstract]  
Number of reportable segments | segment 1
Number of product lines | product_line 2
v3.25.1
Segment Information (Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total Operating Expense $ 585,679 $ 572,606 $ 707,948
Reportable Segment      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Personnel-related 353,338 333,559 339,192
Product development 64,946 65,912 71,245
Other segment items 167,395 173,135 297,511
Total Operating Expense $ 585,679 $ 572,606 $ 707,948
v3.25.1
Segment Information (Schedule of Sales by Geographic Location Based on the Sales Office Location) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Mar. 25, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales $ 1,896,077 $ 1,788,890 $ 1,897,617
China      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales 1,126,367 1,114,310 1,230,602
India      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales 205,902 125,138 69,343
Hong Kong      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales 196,530 219,053 223,405
South Korea      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales 142,655 119,532 93,177
Vietnam      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales 123,073 96,080 93,760
United States      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales 15,838 17,971 52,688
Rest of World      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales $ 85,712 $ 96,806 $ 134,642
v3.25.1
Segment Information (Schedule of Property, Plant, and Equipment, Net, by Geographic Location) (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Mar. 30, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total consolidated property, plant and equipment, net $ 159,900 $ 170,175
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total consolidated property, plant and equipment, net 133,383 140,300
United Kingdom    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total consolidated property, plant and equipment, net 13,570 16,822
Rest of World    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total consolidated property, plant and equipment, net $ 12,947 $ 13,053