CIRRUS LOGIC, INC., 10-Q filed on 2/3/2026
Quarterly Report
v3.25.4
Cover - shares
 9 Months Ended
Dec. 27, 2025
Jan. 30, 2026
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Dec. 27, 2025  
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, $0.001 par value  
Trading Symbol CRUS  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   51,007,389
Amendment Flag false  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q3  
Current Fiscal Year End Date --03-28  
Entity Central Index Key 0000772406  
v3.25.4
Consolidated Condensed Balance Sheets - USD ($)
$ in Thousands
Dec. 27, 2025
Mar. 29, 2025
Current assets:    
Cash and cash equivalents $ 778,083 $ 539,620
Marketable securities 44,280 56,160
Accounts receivable, net 278,989 216,009
Inventories 189,483 299,092
Prepaid assets 54,373 48,236
Prepaid wafers 32,873 52,560
Other current assets 31,268 28,057
Total current assets 1,409,349 1,239,734
Long-term marketable securities 259,564 239,036
Right-of-use lease assets 123,432 126,688
Property and equipment, net 148,352 159,900
Intangibles, net 22,619 27,461
Goodwill 435,936 435,936
Deferred tax assets 38,247 48,150
Long-term prepaid wafers 0 15,512
Other assets 19,021 34,656
Total assets 2,456,520 2,327,073
Current liabilities:    
Accounts payable 68,863 63,162
Accrued salaries and benefits 49,769 52,075
Software license agreements 26,803 26,745
Current lease liabilities 19,713 21,811
Other accrued liabilities 19,043 31,395
Total current liabilities 184,191 195,188
Long-term liabilities:    
Non-current lease liabilities 117,599 121,908
Non-current income taxes 46,033 44,040
Software license agreements 5,468 16,488
Total long-term liabilities 169,100 182,436
Stockholders' equity:    
Capital stock 1,925,238 1,860,281
Accumulated earnings 178,693 90,351
Accumulated other comprehensive loss (702) (1,183)
Total stockholders' equity 2,103,229 1,949,449
Total liabilities and stockholders' equity $ 2,456,520 $ 2,327,073
v3.25.4
Consolidated Condensed Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 27, 2025
Dec. 28, 2024
Income Statement [Abstract]        
Net sales $ 580,624 $ 555,738 $ 1,548,856 $ 1,471,621
Cost of sales 272,498 257,951 732,326 702,319
Gross profit 308,126 297,787 816,530 769,302
Operating expenses        
Research and development 113,553 112,976 326,466 331,264
Selling, general and administrative 41,646 39,042 119,979 113,625
Total operating expenses 155,199 152,018 446,445 444,889
Income from operations 152,927 145,769 370,085 324,413
Interest income 9,494 8,364 27,273 25,162
Interest expense (218) (218) (680) (680)
Other income (expense) 246 (214) (205) 1,414
Income before income taxes 162,449 153,701 396,473 350,309
Provision for income taxes 22,139 37,696 63,870 90,069
Net income $ 140,310 $ 116,005 $ 332,603 $ 260,240
Basic earnings per share (in dollars per share) $ 2.75 $ 2.19 $ 6.48 $ 4.89
Diluted earnings per share (in dollars per share) $ 2.66 $ 2.11 $ 6.27 $ 4.69
Basic weighted average common shares outstanding (in shares) 51,037 53,081 51,313 53,263
Diluted weighted average common shares outstanding (in shares) 52,698 55,076 53,041 55,529
v3.25.4
Consolidated Condensed Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 27, 2025
Dec. 28, 2024
Statement of Comprehensive Income [Abstract]        
Net income $ 140,310 $ 116,005 $ 332,603 $ 260,240
Other comprehensive income (loss), before tax        
Foreign currency translation gain (loss) (377) (937) 183 (578)
Unrealized gain (loss) on marketable securities (132) (3,116) 377 1,377
Benefit (provision) for income taxes 28 654 (79) (290)
Comprehensive income $ 139,829 $ 112,606 $ 333,084 $ 260,749
v3.25.4
Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Cash flows from operating activities:    
Net income $ 332,603 $ 260,240
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 38,954 37,801
Stock-based compensation expense 61,964 64,655
Deferred income taxes 9,824 7,466
Loss on retirement or write-off of long-lived assets 0 381
Other non-cash adjustments 26 812
Net change in operating assets and liabilities:    
Accounts receivable (62,980) (99,465)
Inventories 109,609 (48,310)
Prepaid wafers 35,199 58,296
Other assets 2,320 (4,080)
Accounts payable and other accrued liabilities (9,823) 17,749
Income taxes payable (18,517) 18,435
Net cash provided by operating activities 499,179 313,980
Cash flows from investing activities:    
Maturities and sales of available-for-sale marketable securities 113,439 25,904
Purchases of available-for-sale marketable securities (121,710) (117,505)
Purchases of property, equipment and software (11,592) (19,347)
Investments in technology (848) (225)
Net cash used in investing activities (20,711) (111,173)
Cash flows from financing activities:    
Net proceeds from the issuance of common stock 2,992 15,433
Repurchase of stock to satisfy employee tax withholding obligations (33,032) (33,538)
Repurchase and retirement of common stock (209,965) (161,022)
Net cash used in financing activities (240,005) (179,127)
Net increase in cash and cash equivalents 238,463 23,680
Cash and cash equivalents at beginning of period 539,620 502,764
Cash and cash equivalents at end of period $ 778,083 $ 526,444
v3.25.4
Consolidated Condensed Statements of Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-In Capital
Accumulated Earnings (Deficit)
Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Mar. 30, 2024   53,491      
Beginning 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 260,240     260,240  
Change in unrealized gain (loss) on marketable securities, net of tax 1,087       1,087
Change in foreign currency translation adjustments (578)       (578)
Issuance of stock under stock option plans and other, net of shares withheld for employee taxes (in shares)   1,044      
Issuance of stock under stock option plans and other, net of shares withheld for employee taxes (18,102) $ 1 15,435 (33,538)  
Repurchase and retirement of common stock (in shares)   (1,397)      
Repurchase and retirement of common stock (161,518) $ (1)   (161,517)  
Stock-based compensation 64,655   64,655    
Ending balance (in shares) at Dec. 28, 2024   53,138      
Ending balance at Dec. 28, 2024 1,962,798 $ 53 1,840,738 124,101 (2,094)
Beginning balance (in shares) at Sep. 28, 2024   53,132      
Beginning balance at Sep. 28, 2024 1,928,127 $ 53 1,819,536 107,233 1,305
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 116,005     116,005  
Change in unrealized gain (loss) on marketable securities, net of tax (2,462)       (2,462)
Change in foreign currency translation adjustments (937)       (937)
Issuance of stock under stock option plans and other, net of shares withheld for employee taxes (in shares)   685      
Issuance of stock under stock option plans and other, net of shares withheld for employee taxes (28,732) $ 1 379 (29,112)  
Repurchase and retirement of common stock (in shares)   (679)      
Repurchase and retirement of common stock (70,026) $ (1)   (70,025)  
Stock-based compensation 20,823   20,823    
Ending balance (in shares) at Dec. 28, 2024   53,138      
Ending balance at Dec. 28, 2024 1,962,798 $ 53 1,840,738 124,101 (2,094)
Beginning balance (in shares) at Mar. 29, 2025   52,291      
Beginning balance at Mar. 29, 2025 1,949,449 $ 52 1,860,229 90,351 (1,183)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 332,603     332,603  
Change in unrealized gain (loss) on marketable securities, net of tax 298       298
Change in foreign currency translation adjustments 183       183
Issuance of stock under stock option plans and other, net of shares withheld for employee taxes (in shares)   677      
Issuance of stock under stock option plans and other, net of shares withheld for employee taxes (30,037) $ 1 2,994 (33,032)  
Repurchase and retirement of common stock (in shares)   (1,967)      
Repurchase and retirement of common stock (211,231) $ (2)   (211,229)  
Stock-based compensation 61,964   61,964    
Ending balance (in shares) at Dec. 27, 2025   51,001      
Ending balance at Dec. 27, 2025 2,103,229 $ 51 1,925,187 178,693 (702)
Beginning balance (in shares) at Sep. 27, 2025   51,018      
Beginning balance at Sep. 27, 2025 2,042,442 $ 51 1,903,587 139,025 (221)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 140,310     140,310  
Change in unrealized gain (loss) on marketable securities, net of tax (104)       (104)
Change in foreign currency translation adjustments (377)       (377)
Issuance of stock under stock option plans and other, net of shares withheld for employee taxes (in shares)   574      
Issuance of stock under stock option plans and other, net of shares withheld for employee taxes (29,678) $ 1 1,042 (30,721)  
Repurchase and retirement of common stock (in shares)   (591)      
Repurchase and retirement of common stock (69,922) $ (1)   (69,921)  
Stock-based compensation 20,558   20,558    
Ending balance (in shares) at Dec. 27, 2025   51,001      
Ending balance at Dec. 27, 2025 $ 2,103,229 $ 51 $ 1,925,187 $ 178,693 $ (702)
v3.25.4
Basis of Presentation
 9 Months Ended
Dec. 27, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation Basis of PresentationThe unaudited consolidated condensed financial statements have been prepared by Cirrus Logic, Inc. (“Cirrus Logic,” “we,” “us,” “our,” or the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (the “Commission”).  The accompanying unaudited consolidated condensed financial statements do not include complete footnotes and financial presentations.  As a result, these financial statements should be read along with the audited consolidated financial statements and notes thereto for the year ended March 29, 2025, included in our Annual Report on Form 10-K filed with the Commission on May 23, 2025.  In our opinion, the financial statements reflect all material adjustments, including normal recurring adjustments, necessary for a fair presentation of the financial position, operating results and cash flows for those periods presented.  The preparation of financial statements in conformity with United States (“U.S.”) generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect reported assets, liabilities, revenues and expenses.  Actual results could differ from those estimates and assumptions.  Moreover, the results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the entire year.
v3.25.4
Recently Issued Accounting Pronouncements
 9 Months Ended
Dec. 27, 2025
Accounting Policies [Abstract]  
Recently Issued Accounting Pronouncements Recently Issued Accounting Pronouncements
In December 2023, the Financial Accounting Standards Board (“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 and expects to provide these disclosures in the fourth quarter of fiscal year 2026.
In November 2024, the 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.
In September 2025, the FASB issued ASU 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (Topic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which removes references to software development stages, or “project stages,” in assessing the timing of software cost capitalization. The amendments are effective for annual reporting periods beginning after December 15, 2027, and interim periods within those annual reporting periods. Early adoption is permitted using the prospective, modified, or retrospective adoption methods. The Company is currently evaluating the impact of this guidance on financial statement disclosures.
In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities, which provides guidance on the recognition, measurement, and presentation of government grants. The amendments are effective for annual reporting periods beginning after December 15, 2028, and interim periods within those annual reporting periods. Early adoption is permitted using the modified prospective, modified retrospective, or full retrospective adoption methods. The Company is currently evaluating the impact of this guidance on financial statement disclosures.
v3.25.4
Marketable Securities
 9 Months Ended
Dec. 27, 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 Condensed Balance Sheet as “Marketable securities,” within the short-term or long-term classification, as appropriate, based on the original maturity.
The following table is a summary of available-for-sale securities at December 27, 2025 (in thousands):
As of December 27, 2025Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
(Net Carrying
Amount)
Corporate debt securities$301,177 $2,043 $(50)$303,170 
U.S. Treasury securities668 6 — 674 
Total securities$301,845 $2,049 $(50)$303,844 

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 were $0.1 million related to securities with total amortized costs of approximately $34.6 million at December 27, 2025. There were no securities in a continuous unrealized loss position for more than 12 months as of December 27, 2025. 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 December 27, 2025, the Company does not consider any of its investments to be impaired.

The following table is a summary of available-for-sale securities at March 29, 2025 (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'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. As of March 29, 2025, the Company did not consider any of its investments to be impaired.

The cost and estimated fair value of available-for-sale securities by contractual maturities were as follows (in thousands):
December 27, 2025March 29, 2025
AmortizedEstimatedAmortizedEstimated
CostFair ValueCostFair Value
Within 1 year$43,982 $44,280 $56,044 $56,160 
After 1 year257,863 259,564 237,530 239,036 
Total$301,845 $303,844 $293,574 $295,196 
v3.25.4
Fair Value of Financial Instruments
 9 Months Ended
Dec. 27, 2025
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
The Company has determined that the only material 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 (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, debt securities, and U.S Treasury securities, and are reflected on our Consolidated Condensed Balance Sheets 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 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 revolving credit 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 December 27, 2025, there are no amounts drawn under the facility and the fair value is zero.

As of December 27, 2025 and March 29, 2025, the Company has no Level 3 assets or liabilities.  There were no transfers between Level 1, Level 2, or Level 3 measurements for the three months ended December 27, 2025. 

The following summarizes the fair value of our financial instruments at December 27, 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$721,568 $— $— $721,568 
Available-for-sale securities    
Corporate debt securities$— $303,170 $— $303,170 
U.S. Treasury securities674 — — 674 
$674 $303,170 $— $303,844 
The following summarizes the fair value of our financial instruments at March 29, 2025 (in thousands):
Quoted Prices
in Active
Markets for
Identical
Assets
Level 1		Significant
Other
Observable
Inputs
Level 2		Significant
Unobservable
Inputs
Level 3		Total
Assets:
Cash equivalents    
Money market funds491,467 — — 491,467 
Available-for-sale securities    
Corporate debt securities$— $286,465 $— $286,465 
U.S. Treasury securities8,731 — — 8,731 
$8,731 $286,465 $— $295,196 
v3.25.4
Derivative Financial Instruments
 9 Months Ended
Dec. 27, 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 Condensed Statements of Income. The Company does not apply hedge accounting to these foreign currency derivative instruments.

As of December 27, 2025, the Company held one foreign currency forward contract denominated in British Pound Sterling with a notional value of $18.5 million. The fair value of this contract was not material as of December 27, 2025.

The before-tax effect of derivative instruments not designated as hedging instruments was as follows (in thousands):

Three Months EndedNine Months Ended
December 27,December 28,December 27,December 28,
2025202420252024Location
Gain (loss) recognized in income:
Foreign currency forward contracts$(80)$(1,220)$817 $(568)Other income (expense)
v3.25.4
Accounts Receivable, net
 9 Months Ended
Dec. 27, 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):
December 27,March 29,
20252025
Gross accounts receivable$278,989 $216,009 
Allowance for doubtful accounts— — 
Accounts receivable, net$278,989 $216,009 

The increase in accounts receivable is due to the timing of collections and billings during the year.
v3.25.4
Inventories
 9 Months Ended
Dec. 27, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories are comprised of the following (in thousands):
December 27,March 29,
20252025
Work in process$139,138 $216,173 
Finished goods50,345 82,919 
$189,483 $299,092 
v3.25.4
Revolving Credit Facility
 9 Months Ended
Dec. 27, 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 Term SOFR, for the purposes of calculating interest under the terms of the Second Amended Credit Agreement.

Borrowings under the Revolving Credit Facility may bear interest, at Cirrus Logic’s election, 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 customary negative covenants limiting the ability of Cirrus Logic or any Subsidiary 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 December 27, 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.
v3.25.4
Revenues
 9 Months Ended
Dec. 27, 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 respective 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).
Three Months EndedNine Months Ended
December 27,December 28,December 27,December 28,
2025202420252024
Audio Products$344,455 $346,272 $902,713 $881,830 
HPMS Products236,169 209,466 646,143 589,791 
$580,624 $555,738 $1,548,856 $1,471,621 

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):
Three Months EndedNine Months Ended
December 27,December 28,December 27,December 28,
2025202420252024
China$357,155 $373,449 $850,060 $904,899 
United States3,272 5,638 10,953 13,325 
Rest of World220,197 176,651 687,843 553,397 
$580,624 $555,738 $1,548,856 $1,471,621 
v3.25.4
Income Taxes
 9 Months Ended
Dec. 27, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Our provision for income taxes is based on estimated effective tax rates derived from an estimate of annual consolidated earnings before taxes, adjusted for nondeductible expenses, other permanent items, and any applicable income tax credits.

The following table presents the provision for income taxes (in thousands) and the effective tax rates:
Three Months EndedNine Months Ended
December 27,December 28,December 27,December 28,
2025202420252024
Income before income taxes$162,449 $153,701 $396,473 $350,309 
Provision for income taxes$22,139 $37,696 $63,870 $90,069 
Effective tax rate13.6 %24.5 %16.1 %25.7 %

Our income tax expense was $22.1 million and $37.7 million for the third quarters of fiscal years 2026 and 2025, respectively, resulting in effective tax rates of 13.6 percent and 24.5 percent, respectively. Our income tax expense was $63.9 million and $90.1 million for the first nine months of fiscal years 2026 and 2025, respectively, resulting in effective tax rates of 16.1 percent and 25.7 percent, respectively.

Effective tax rates for fiscal year 2025 were unfavorably impacted by a provision in the Tax Cuts and Jobs Act of 2017 that required research and development (“R&D”) expenditures incurred in tax years beginning after December 31, 2021 to be capitalized and amortized ratably over five or fifteen years depending on the location in which the research activities are conducted, which resulted in increased GILTI inclusions in these periods. In addition, those periods were unfavorably impacted by U.S. tax rules related to refundable tax credits, including R&D expenditure credits available to us in the United Kingdom, that reduce the amount of foreign tax credits available to offset GILTI.

The effective tax rates for the third quarter and first nine months of fiscal year 2026 were lower than the prior periods presented primarily due to U.S. R&D expenditures no longer being capitalized within GILTI (also known as net controlled foreign corporation tested income) beginning in fiscal year 2026 as a result of the One Big Beautiful Bill Act (“OBBBA”) enacted on July 4, 2025.

The Company records unrecognized tax benefits for the estimated risk associated with tax positions taken on tax returns.  At December 27, 2025, the Company had unrecognized tax benefits of $32.1 million, all of which would impact the effective tax rate if recognized.  The Company’s total unrecognized tax benefits are classified as “Non-current income taxes” in
the Consolidated Condensed Balance Sheets. The Company recognizes interest and penalties related to unrecognized tax benefits in the provision for income taxes.  As of December 27, 2025, the balance of accrued interest and penalties, net of tax, was $14.0 million. 

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 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 in 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 Company and its subsidiaries are subject to U.S. federal income tax as well as income tax in multiple state and foreign jurisdictions. 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. The Company does not agree with the IRS's positions and has not accrued an additional liability. In July 2024, the Company entered the administrative dispute process with the IRS Independent Office of Appeals (“IRS Appeals”). The Company continues to vigorously dispute the proposed adjustments, including through ongoing discussions as part of the administrative process with IRS Appeals. If an acceptable outcome cannot be reached with IRS Appeals, the Company is prepared to pursue judicial remedies, which could take a number of years to resolve. Although the final resolution of these matters is uncertain, the Company believes adequate amounts have been reserved in accordance with ASC 740 for any adjustments to the provision for income taxes that may ultimately result. However, the ultimate amount of assessed tax, interest, and penalties, if any, could be material and may 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.
v3.25.4
Net Income Per Share
 9 Months Ended
Dec. 27, 2025
Earnings Per Share [Abstract]  
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 restricted stock units and outstanding stock options.

The following table details the calculation of basic and diluted earnings per share for the three and nine months ended December 27, 2025 and December 28, 2024 (in thousands, except per share amounts):
Three Months EndedNine Months Ended
December 27,December 28,December 27,December 28,
2025202420252024
Numerator:    
Net income$140,310 $116,005 $332,603 $260,240 
Denominator:    
Weighted average shares outstanding51,037 53,081 51,313 53,263 
Effect of dilutive securities1,661 1,995 1,728 2,266 
Weighted average diluted shares52,698 55,076 53,041 55,529 
Basic earnings per share$2.75 $2.19 $6.48 $4.89 
Diluted earnings per share$2.66 $2.11 $6.27 $4.69 
The weighted outstanding shares excluded from our diluted calculation for the three and nine months ended December 27, 2025 were 44 thousand and 167 thousand, respectively, as the shares were anti-dilutive. The weighted outstanding shares excluded from our diluted calculation for the three and nine months ended December 28, 2024 were 228 thousand and 224 thousand, respectively, as the shares were anti-dilutive.
v3.25.4
Commitment and Contingencies
 9 Months Ended
Dec. 27, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
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 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 $10 million as of December 27, 2025, and is recorded in “Other current assets” on the Consolidated Condensed Balance Sheets. 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 $33 million at December 27, 2025, and is currently recorded in “Prepaid wafers” on the Consolidated Condensed Balance Sheets.
v3.25.4
Legal Matters
 9 Months Ended
Dec. 27, 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 in order 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.  However, we are engaged in various legal actions in the normal course of business.  There can be no assurances in light of the inherent uncertainties involved in any potential legal proceedings, some of which are beyond our control, and an adverse outcome in any legal proceeding could be material to our results of operations or cash flows for any particular reporting period.
v3.25.4
Stockholders' Equity
 9 Months Ended
Dec. 27, 2025
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Stockholders' Equity
Common Stock

The Company issued a net 0.6 million and 0.7 million shares of common stock during the three and nine months ended December 27, 2025, respectively, and issued a net 0.7 million and 1.0 million shares of common stock for the three and nine months ended December 28, 2024, respectively, pursuant to the Company's equity incentive plans.

Share Repurchase Program 

The Company's net stock repurchases are subject to a 1 percent excise tax under the Inflation Reduction Act, which is included as a reduction to accumulated earnings in the Consolidated Condensed Statements of Stockholders' Equity. As of December 27, 2025, approximately $1.2 million is accrued related to this excise tax. Disclosure of repurchased amounts and related average costs exclude the impact of excise taxes.

In July 2022, the Board of Directors authorized the repurchase of up to $500 million of the Company's stock. During the three months ended June 28, 2025, the Company completed share repurchases under the 2022 authorization. In March 2025, the Board of Directors authorized the repurchase of up to an additional $500 million of the Company's common stock. As of December 27, 2025, approximately $155.9 million of the Company's common stock has been repurchased, leaving approximately $344.1 million available for repurchase under the 2025 authorization. During the three months ended
December 27, 2025, the Company repurchased 0.6 million shares of the Company's common stock for $70.0 million, at an average cost of $118.33 per share under the 2025 authorization. During the nine months ended December 27, 2025, the Company repurchased 2.0 million of the Company's common stock for $210.0 million, at an average cost of $106.76 per share under the combined share authorizations.
v3.25.4
Segment Information
 9 Months Ended
Dec. 27, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
We determine our operating segments in accordance with FASB guidelines.  Our Chief Executive Officer (“CEO”) has been identified as the chief operating decision maker (“CODM”) under these guidelines. 

The Company operates and tracks its results in one reportable segment, but reports revenue 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 evaluates Company performance based on net income, and 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 expenses. 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):

Three Months EndedNine Months Ended
December 27, 2025December 28, 2024December 27, 2025December 28, 2024
Personnel-related (1)$97,914 $94,617 $277,381 $268,395 
Product development (2)15,094 16,899 45,375 49,312 
Other segment items (3)42,191 40,502 123,689 127,182 
Total Operating Expense$155,199 $152,018 $446,445 $444,889 

(1) Personnel-related expenses include variable compensation and employee-related expenses, which primarily include employee base pay and benefit 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 are included below.
The following illustrates net sales by ship to location of the customer (in thousands):
Three Months EndedNine Months Ended
December 27, 2025December 28, 2024December 27, 2025December 28, 2024
China$357,155 $373,449 $850,060 $904,899 
India87,043 55,946 232,237 135,628 
Hong Kong46,945 49,024 165,455 153,029 
Vietnam45,271 22,490 138,998 91,024 
South Korea27,100 28,612 94,231 114,204 
United States3,272 5,638 10,953 13,325 
Rest of World13,838 20,579 56,922 59,512 
Total consolidated sales$580,624 $555,738 $1,548,856 $1,471,621 
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 27, 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 third quarter of fiscal year 2026. None of our directors or Section 16 officers entered into or terminated a non-Rule 10b5-1 trading arrangement during the third quarter of fiscal year 2026.

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)
Scott ThomasAdoptionRule 10b5-1(c)November 14, 2025November 06, 2026
up to 19,123 to be sold
EVP, General Counsel
(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
Scott Thomas [Member]  
Trading Arrangements, by Individual  
Name Scott Thomas
Title EVP, General Counsel
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 14, 2025
Expiration Date November 06, 2026
Arrangement Duration 357 days
Aggregate Available 19,123
v3.25.4
Recently Issued Accounting Pronouncements (Policies)
 9 Months Ended
Dec. 27, 2025
Accounting Policies [Abstract]  
Recently Issued Accounting Pronouncements
In December 2023, the Financial Accounting Standards Board (“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 and expects to provide these disclosures in the fourth quarter of fiscal year 2026.
In November 2024, the 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.
In September 2025, the FASB issued ASU 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (Topic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which removes references to software development stages, or “project stages,” in assessing the timing of software cost capitalization. The amendments are effective for annual reporting periods beginning after December 15, 2027, and interim periods within those annual reporting periods. Early adoption is permitted using the prospective, modified, or retrospective adoption methods. The Company is currently evaluating the impact of this guidance on financial statement disclosures.
In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities, which provides guidance on the recognition, measurement, and presentation of government grants. The amendments are effective for annual reporting periods beginning after December 15, 2028, and interim periods within those annual reporting periods. Early adoption is permitted using the modified prospective, modified retrospective, or full retrospective adoption methods. 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 Condensed Balance Sheet as “Marketable securities,” within the short-term or long-term classification, as appropriate, based on the original maturity.
Fair Value of Financial Instruments
The Company has determined that the only material 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 (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, debt securities, and U.S Treasury securities, and are reflected on our Consolidated Condensed Balance Sheets 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 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.
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 respective product line categories of Audio and High-Performance Mixed-Signal (“HPMS”).
Segment Information
We determine our operating segments in accordance with FASB guidelines.  Our Chief Executive Officer (“CEO”) has been identified as the chief operating decision maker (“CODM”) under these guidelines. 

The Company operates and tracks its results in one reportable segment, but reports revenue 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.
v3.25.4
Marketable Securities (Tables)
 9 Months Ended
Dec. 27, 2025
Marketable Securities [Abstract]  
Schedule of Available-for-sale Securities
The following table is a summary of available-for-sale securities at December 27, 2025 (in thousands):
As of December 27, 2025Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
(Net Carrying
Amount)
Corporate debt securities$301,177 $2,043 $(50)$303,170 
U.S. Treasury securities668 6 — 674 
Total securities$301,845 $2,049 $(50)$303,844 
The following table is a summary of available-for-sale securities at March 29, 2025 (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 
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 securities by contractual maturities were as follows (in thousands):
December 27, 2025March 29, 2025
AmortizedEstimatedAmortizedEstimated
CostFair ValueCostFair Value
Within 1 year$43,982 $44,280 $56,044 $56,160 
After 1 year257,863 259,564 237,530 239,036 
Total$301,845 $303,844 $293,574 $295,196 
v3.25.4
Fair Value of Financial Instruments (Tables)
 9 Months Ended
Dec. 27, 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 December 27, 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$721,568 $— $— $721,568 
Available-for-sale securities    
Corporate debt securities$— $303,170 $— $303,170 
U.S. Treasury securities674 — — 674 
$674 $303,170 $— $303,844 
The following summarizes the fair value of our financial instruments at March 29, 2025 (in thousands):
Quoted Prices
in Active
Markets for
Identical
Assets
Level 1		Significant
Other
Observable
Inputs
Level 2		Significant
Unobservable
Inputs
Level 3		Total
Assets:
Cash equivalents    
Money market funds491,467 — — 491,467 
Available-for-sale securities    
Corporate debt securities$— $286,465 $— $286,465 
U.S. Treasury securities8,731 — — 8,731 
$8,731 $286,465 $— $295,196 
v3.25.4
Derivative Financial Instruments (Tables)
 9 Months Ended
Dec. 27, 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):

Three Months EndedNine Months Ended
December 27,December 28,December 27,December 28,
2025202420252024Location
Gain (loss) recognized in income:
Foreign currency forward contracts$(80)$(1,220)$817 $(568)Other income (expense)
v3.25.4
Accounts Receivable, net (Tables)
 9 Months Ended
Dec. 27, 2025
Accounts Receivable, after Allowance for Credit Loss [Abstract]  
Schedule of Accounts Receivable, net
The following are the components of accounts receivable, net (in thousands):
December 27,March 29,
20252025
Gross accounts receivable$278,989 $216,009 
Allowance for doubtful accounts— — 
Accounts receivable, net$278,989 $216,009 
v3.25.4
Inventories (Tables)
 9 Months Ended
Dec. 27, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories are comprised of the following (in thousands):
December 27,March 29,
20252025
Work in process$139,138 $216,173 
Finished goods50,345 82,919 
$189,483 $299,092 
v3.25.4
Revenues (Tables)
 9 Months Ended
Dec. 27, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Total net sales based on the product line disaggregation criteria described above are shown in the table below (in thousands).
Three Months EndedNine Months Ended
December 27,December 28,December 27,December 28,
2025202420252024
Audio Products$344,455 $346,272 $902,713 $881,830 
HPMS Products236,169 209,466 646,143 589,791 
$580,624 $555,738 $1,548,856 $1,471,621 

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):
Three Months EndedNine Months Ended
December 27,December 28,December 27,December 28,
2025202420252024
China$357,155 $373,449 $850,060 $904,899 
United States3,272 5,638 10,953 13,325 
Rest of World220,197 176,651 687,843 553,397 
$580,624 $555,738 $1,548,856 $1,471,621 
v3.25.4
Income Taxes (Tables)
 9 Months Ended
Dec. 27, 2025
Income Tax Disclosure [Abstract]  
Schedule of Provision for Income Taxes and Effective Tax Rates
The following table presents the provision for income taxes (in thousands) and the effective tax rates:
Three Months EndedNine Months Ended
December 27,December 28,December 27,December 28,
2025202420252024
Income before income taxes$162,449 $153,701 $396,473 $350,309 
Provision for income taxes$22,139 $37,696 $63,870 $90,069 
Effective tax rate13.6 %24.5 %16.1 %25.7 %
v3.25.4
Net Income Per Share (Tables)
 9 Months Ended
Dec. 27, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table details the calculation of basic and diluted earnings per share for the three and nine months ended December 27, 2025 and December 28, 2024 (in thousands, except per share amounts):
Three Months EndedNine Months Ended
December 27,December 28,December 27,December 28,
2025202420252024
Numerator:    
Net income$140,310 $116,005 $332,603 $260,240 
Denominator:    
Weighted average shares outstanding51,037 53,081 51,313 53,263 
Effect of dilutive securities1,661 1,995 1,728 2,266 
Weighted average diluted shares52,698 55,076 53,041 55,529 
Basic earnings per share$2.75 $2.19 $6.48 $4.89 
Diluted earnings per share$2.66 $2.11 $6.27 $4.69 
v3.25.4
Segment Information (Tables)
 9 Months Ended
Dec. 27, 2025
Segment Reporting [Abstract]  
Schedule of Significant Segment Operating Expenses
The table below presents the Company's significant segment operating expenses (in thousands):

Three Months EndedNine Months Ended
December 27, 2025December 28, 2024December 27, 2025December 28, 2024
Personnel-related (1)$97,914 $94,617 $277,381 $268,395 
Product development (2)15,094 16,899 45,375 49,312 
Other segment items (3)42,191 40,502 123,689 127,182 
Total Operating Expense$155,199 $152,018 $446,445 $444,889 

(1) Personnel-related expenses include variable compensation and employee-related expenses, which primarily include employee base pay and benefit 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):
Three Months EndedNine Months Ended
December 27, 2025December 28, 2024December 27, 2025December 28, 2024
China$357,155 $373,449 $850,060 $904,899 
India87,043 55,946 232,237 135,628 
Hong Kong46,945 49,024 165,455 153,029 
Vietnam45,271 22,490 138,998 91,024 
South Korea27,100 28,612 94,231 114,204 
United States3,272 5,638 10,953 13,325 
Rest of World13,838 20,579 56,922 59,512 
Total consolidated sales$580,624 $555,738 $1,548,856 $1,471,621 
v3.25.4
Marketable Securities (Schedule of Available-for-sale Securities) (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Mar. 29, 2025
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost $ 301,845 $ 293,574
Gross Unrealized Gains 2,049 1,680
Gross Unrealized Losses (50) (58)
Estimated Fair Value (Net Carrying Amount) 303,844 295,196
Corporate debt securities    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 301,177 284,885
Gross Unrealized Gains 2,043 1,635
Gross Unrealized Losses (50) (55)
Estimated Fair Value (Net Carrying Amount) 303,170 286,465
U.S. Treasury securities    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 668 8,689
Gross Unrealized Gains 6 45
Gross Unrealized Losses 0 (3)
Estimated Fair Value (Net Carrying Amount) $ 674 $ 8,731
v3.25.4
Marketable Securities (Narrative) (Details) - USD ($)
$ in Thousands
 9 Months Ended
Dec. 27, 2025
Mar. 29, 2025
Debt Securities, Available-for-sale [Line Items]    
Gross unrealized losses $ 50 $ 58
Amortized cost on available for sale securities held at gross unrealized loss $ 34,600 29,800
Securities in a continuous unrealized loss position for more than 12 months, amortized cost   $ 1,900
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  
v3.25.4
Marketable Securities (Schedule of Cost and Estimated Fair Value of Available-for-sale Securities by Contractual Maturity) (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Mar. 29, 2025
Amortized Cost    
Within 1 year $ 43,982 $ 56,044
After 1 year 257,863 237,530
Amortized Cost 301,845 293,574
Estimated Fair Value    
Within 1 year 44,280 56,160
After 1 year 259,564 239,036
Estimated Fair Value (Net Carrying Amount) $ 303,844 $ 295,196
v3.25.4
Fair Value of Financial Instruments (Narrative) (Details) - USD ($)
Mar. 20, 2023
Dec. 27, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Amounts drawn under the credit facility   $ 0
Credit 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 rate 0.10%  
v3.25.4
Fair Value of Financial Instruments (Schedule of Fair Value of Financial Assets and Liabilities) (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Mar. 29, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities $ 303,844 $ 295,196
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 674 8,731
Significant Other Observable Inputs Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale securities 303,170 286,465
Significant Unobservable Inputs Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
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 303,170 286,465
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 303,170 286,465
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 674 8,731
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 674 8,731
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
Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 721,568 491,467
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 721,568 491,467
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
v3.25.4
Derivative Financial Instruments (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 27, 2025
USD ($)
derivativeContract
Dec. 28, 2024
USD ($)
Dec. 27, 2025
USD ($)
derivativeContract
Dec. 28, 2024
USD ($)
Derivative Instruments, Gain (Loss) [Line Items]        
Number of foreign currency derivatives held | derivativeContract 1   1  
Notional value of foreign currency forward contract $ 18,500   $ 18,500  
Foreign currency forward contracts | Not Designated as Hedging Instrument        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (loss) recognized in income $ (80) $ (1,220) $ 817 $ (568)
v3.25.4
Accounts Receivable, net (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Mar. 29, 2025
Accounts Receivable, after Allowance for Credit Loss [Abstract]    
Gross accounts receivable $ 278,989 $ 216,009
Allowance for doubtful accounts 0 0
Accounts receivable, net $ 278,989 $ 216,009
v3.25.4
Inventories (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Mar. 29, 2025
Inventory Disclosure [Abstract]    
Work in process $ 139,138 $ 216,173
Finished goods 50,345 82,919
Total inventories $ 189,483 $ 299,092
v3.25.4
Revolving Credit Facility (Details) - Second Amended Credit Agreement Revolving Credit Facility - USD ($)
Mar. 20, 2023
Dec. 27, 2025
Jul. 08, 2021
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 rate 0.10%    
Secured Overnight Financing Rate (SOFR) | Minimum | Revolving Credit Facility | Line of Credit      
Line of Credit Facility [Line Items]      
Basis spread on variable rate 1.00%    
Secured Overnight Financing Rate (SOFR) | Maximum | Revolving Credit Facility | Line of Credit      
Line of Credit Facility [Line Items]      
Basis spread on variable rate 1.75%    
Variable Rate Component Two | Minimum | Revolving Credit Facility | Line of Credit      
Line of Credit Facility [Line Items]      
Basis spread on variable rate 0.00%    
Variable Rate Component Two | Maximum | Revolving Credit Facility | Line of Credit      
Line of Credit Facility [Line Items]      
Basis spread on variable rate 0.75%    
v3.25.4
Revenues (Product Line Disaggregation of Revenue) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 27, 2025
Dec. 28, 2024
Disaggregation of Revenue [Line Items]        
Net sales $ 580,624 $ 555,738 $ 1,548,856 $ 1,471,621
Audio Products        
Disaggregation of Revenue [Line Items]        
Net sales 344,455 346,272 902,713 881,830
HPMS Products        
Disaggregation of Revenue [Line Items]        
Net sales $ 236,169 $ 209,466 $ 646,143 $ 589,791
v3.25.4
Revenues (Geographic Disaggregation of Revenue) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 27, 2025
Dec. 28, 2024
Disaggregation of Revenue [Line Items]        
Net sales $ 580,624 $ 555,738 $ 1,548,856 $ 1,471,621
China        
Disaggregation of Revenue [Line Items]        
Net sales 357,155 373,449 850,060 904,899
United States        
Disaggregation of Revenue [Line Items]        
Net sales 3,272 5,638 10,953 13,325
Rest of World        
Disaggregation of Revenue [Line Items]        
Net sales $ 220,197 $ 176,651 $ 687,843 $ 553,397
v3.25.4
Income Taxes (Provision for Income Taxes) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 27, 2025
Dec. 28, 2024
Income Tax Disclosure [Abstract]        
Income before income taxes $ 162,449 $ 153,701 $ 396,473 $ 350,309
Provision for income taxes $ 22,139 $ 37,696 $ 63,870 $ 90,069
Effective tax rate 13.60% 24.50% 16.10% 25.70%
v3.25.4
Income Taxes (Narrative) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 27, 2025
Dec. 28, 2024
Income Tax Disclosure [Abstract]        
Income tax expense $ 22,139 $ 37,696 $ 63,870 $ 90,069
Effective tax rate 13.60% 24.50% 16.10% 25.70%
Gross unrecognized tax benefits $ 32,100   $ 32,100  
Accrued penalties and interest $ 14,000   14,000  
Estimate of possible loss     168,300  
Estimate of possible loss, penalties expense     $ 63,700  
v3.25.4
Net Income Per Share (Calculation of Basic and Diluted Earnings Per Share) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 27, 2025
Dec. 28, 2024
Numerator:        
Net income $ 140,310 $ 116,005 $ 332,603 $ 260,240
Denominator:        
Weighted average shares outstanding (in shares) 51,037 53,081 51,313 53,263
Effect of dilutive securities (in shares) 1,661 1,995 1,728 2,266
Weighted average diluted shares (in shares) 52,698 55,076 53,041 55,529
Basic earnings per share (in dollars per share) $ 2.75 $ 2.19 $ 6.48 $ 4.89
Diluted earnings per share (in dollars per share) $ 2.66 $ 2.11 $ 6.27 $ 4.69
v3.25.4
Net Income Per Share (Narrative) (Details) - shares
shares in Thousands
 3 Months Ended 9 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 27, 2025
Dec. 28, 2024
Earnings Per Share [Abstract]        
Weighted average shares excluded from diluted calculation (in shares) 44 228 167 224
v3.25.4
Commitment and Contingencies (Details) - USD ($)
$ in Millions
Jul. 28, 2021
Dec. 27, 2025
Commitments and Contingencies Disclosure [Abstract]    
Capacity reservation fee $ 60  
Capacity reservation fee remaining   $ 10
Prepaid wafers $ 195  
Prepaid wafers balance   $ 33
v3.25.4
Stockholders' Equity (Details) - USD ($)
$ / shares in Units, $ in Thousands, shares in Millions
 3 Months Ended 9 Months Ended 10 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 27, 2025
Dec. 28, 2024
Dec. 27, 2025
Mar. 31, 2025
Jul. 31, 2022
Share Repurchase Program [Line Items]              
Common stock issued as part of stock incentive plan (in shares) 0.6 0.7 0.7 1.0      
Accrued excise tax $ 1,200   $ 1,200   $ 1,200    
Common stock repurchased 69,922 $ 70,026 211,231 $ 161,518      
2025 and 2022 Repurchase Program              
Share Repurchase Program [Line Items]              
Common stock repurchased     $ 210,000        
Common stock repurchased (in shares)     2.0        
Average cost per share repurchased (in dollars per share)     $ 106.76        
July 2022 Repurchase Program              
Share Repurchase Program [Line Items]              
Repurchase and retirement of common stock, value             $ 500,000
2025 Repurchase Program              
Share Repurchase Program [Line Items]              
Repurchase and retirement of common stock, value           $ 500,000  
Common stock repurchased 70,000       155,900    
Common stock available for repurchase $ 344,100   $ 344,100   $ 344,100    
Common stock repurchased (in shares) 0.6            
Average cost per share repurchased (in dollars per share) $ 118.33            
v3.25.4
Segment Information (Narrative) (Details)
 9 Months Ended
Dec. 27, 2025
segment
product_line
Segment Reporting [Abstract]  
Number of reportable segments | segment 1
Number of product lines | product_line 2
v3.25.4
Segment Information (Schedule of Significant Segment Operating Expenses) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 27, 2025
Dec. 28, 2024
Segment Reporting Information [Line Items]        
Total operating expenses $ 155,199 $ 152,018 $ 446,445 $ 444,889
Reportable Segment        
Segment Reporting Information [Line Items]        
Personnel-related 97,914 94,617 277,381 268,395
Product development 15,094 16,899 45,375 49,312
Other segment items 42,191 40,502 123,689 127,182
Total operating expenses $ 155,199 $ 152,018 $ 446,445 $ 444,889
v3.25.4
Segment Information (Schedule of Sales by Geographic Location Based on Customer Ship Location) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 27, 2025
Dec. 28, 2024
Segment Reporting Information [Line Items]        
Net sales $ 580,624 $ 555,738 $ 1,548,856 $ 1,471,621
China        
Segment Reporting Information [Line Items]        
Net sales 357,155 373,449 850,060 904,899
India        
Segment Reporting Information [Line Items]        
Net sales 87,043 55,946 232,237 135,628
Hong Kong        
Segment Reporting Information [Line Items]        
Net sales 46,945 49,024 165,455 153,029
Vietnam        
Segment Reporting Information [Line Items]        
Net sales 45,271 22,490 138,998 91,024
South Korea        
Segment Reporting Information [Line Items]        
Net sales 27,100 28,612 94,231 114,204
United States        
Segment Reporting Information [Line Items]        
Net sales 3,272 5,638 10,953 13,325
Rest of World        
Segment Reporting Information [Line Items]        
Net sales $ 13,838 $ 20,579 $ 56,922 $ 59,512