Financial Analysis

7. COMMITMENTS AND CONTINGENT LIABILITIES Legal Matters The Company is involved in various legal proceedings and claims that have arisen in the ordinary course of business that have not been fully adjudicated. The Company accrues a liability for legal contingencies when it believes that it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company regularly evaluates developments in its legal matters that could affect the amount of the previously accrued liability and records adjustments as appropriate. Although it is not possible to predict with certainty the outcome of the unresolved legal matters, it is the opinion of management that these matters will not, individually or in the aggregate, have a material adverse effect on the Companys consolidated financial position or results of operations. The Company believes the aggregate range of reasonably possible losses in excess of accrued liabilities, if any, associated with these unresolved legal matters is not material. …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"5. DEBT The following table summarizes the Company's outstanding debt (in thousands): June 27, 2026 March 28, 2026 4.375% senior notes due 2029 $ 850,000 $ 850,000 3.375% senior notes due 2031 700,000 700,000 Unamortized premium and issuance costs, net (862) (846) Total long-term debt $ 1,549,138 $ 1,549,154 Credit Agreement On April 23, 2024, the Company entered into a five-year unsecured senior credit facility pursuant to a credit agreement with Bank of America, N.A., as administrative agent, swing line lender and letter of credit issuer and a syndicate of lenders (the ""Credit Agreement""), which replaced the previous credit agreement dated as of September 29, 2020. The Credit Agreement provides for a $325.0 million senior revolving line of credit (the ""Revolving Facility""). Up to $25.0 million of the Revolving Facility may be used for the issuance of standby letters of credit, and up to $10.0 million of the Revolving Facility may be used for swing line advances (i.e., short-term borrowings made available from the lead lender). The Company may request at any time that the Revolving Facility be increased by up to $325.0 million , subject to securing additional funding commitments from existing or new lenders. The Revolving Facility is available to finance working capital, capital expenditures and other lawful corporate purposes. The initial maturity date of the Revolving Facility is April 23, 2029, which may be extended by up to two years by exercising extension options …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Revenue by geographic region (based on the location of the customers' headquarters) is summarized as follows (in thousands): Three Months Ended June 27, 2026 June 28, 2025 United States $ 509,011 $ 425,260 Taiwan 92,537 96,926 Other Asia 81,189 122,241 China 77,012 155,895 Europe 25,046 18,456 Total revenue $ 784,795 $ 818,778 The Company also disaggregates revenue by operating segments (refer to Note 10).

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4. INTANGIBLE ASSETS The following table summarizes information regarding the gross carrying amounts and accumulated amortization of intangible assets (in thousands): June 27, 2026 March 28, 2026 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Developed technology $ 289,825 $ 206,473 $ 330,939 $ 239,563 Technology licenses 74,386 61,237 75,475 55,861 Customer relationships 26,900 17,261 39,900 29,588 Trade names 700 554 700 496 Total (1) $ 391,811 $ 285,525 $ 447,014 $ 325,508 (1) Amounts include the impact of foreign currency translation. At the beginning of each fiscal year, the Company removes the gross asset and accumulated amortization amounts of intangible assets that have reached the end of their useful lives and have been fully amortized. Useful lives are estimated based on the expected economic benefit to be derived from the intangible assets. The gross carrying amounts and accumulated amortization of fully impaired intangible assets are written off at the time of impairment.

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"11. INCOME TAXES The Companys income tax expense was $14.7 million and $6.1 million for the three months ended June 27, 2026 and June 28, 2025, respectively. The Companys effective tax rate was 14.6% and 19.2% for the three months ended June 27, 2026 and June 28, 2025, respectively. The Company's effective tax rate for the three months ended June 27, 2026 differed from the statutory rate primarily due to tax rate differences in foreign jurisdictions, the impact of global minimum taxes and Net Controlled Foreign Corporation Tested Income (formerly Global Intangible Low-Taxed Income (""GILTI"")), partially offset by domestic tax credits generated and discrete tax benefits. A discrete tax benefit of $3.3 million was recognized for the three months ended June 27, 2026, primarily related to the tax effects of merger-related costs (refer to Note 2 for additional information) and restructuring-related charges (refer to Note 9 for additional information). The Company's effective tax rate for the three months ended June 28, 2025 differed from the statutory rate primarily due to tax rate differences in foreign jurisdictions, global minimum taxes in foreign jurisdictions and GILTI, partially offset by domestic tax credits generated."

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"9. RESTRUCTURING In the second quarter of fiscal 2026, the Company initiated actions to reduce operating expenses, streamline its manufacturing footprint and accelerate its focus on long-term profitability objectives (the ""2026 Restructuring Initiatives""). As part of these actions, the Company decided to close its North Carolina fabrication facility and transfer surface acoustic wave (""SAW"") filter production to its Texas fabrication facility. In the fourth quarter of fiscal 2026, the Company completed the sale of its North Carolina fabrication facility and is operating under a short-term supply agreement with the buyer until the Company completes the transfer of SAW filter production to its Texas facility. In addition, the Company consolidated the Connectivity and Sensors Group (""CSG"") organizational structure as it continues to align total Company resources, improve efficiency and narrow its focus on a higher margin portfolio. The following table summarizes the charges resulting from the 2026 Restructuring Initiatives (in thousands): Three Months Ended June 27, 2026 Cost of Goods Sold Other Operating Expense Total Contract termination and other costs $ $ 866 $ 866 Asset impairment costs 47 47 One-time employee termination benefits 250 11,025 11,275 Total $ 250 $ 11,938 $ 12,188 As of June 27, 2026, the Company has recorded cumulative expenses of approximately $12.4 million for contract termination and other costs, $48.4 million for one-time employee termination benef …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

8. REVENUE Revenue by geographic region (based on the location of the customers' headquarters) is summarized as follows (in thousands): Three Months Ended June 27, 2026 June 28, 2025 United States $ 509,011 $ 425,260 Taiwan 92,537 96,926 Other Asia 81,189 122,241 China 77,012 155,895 Europe 25,046 18,456 Total revenue $ 784,795 $ 818,778 The Company also disaggregates revenue by operating segments (refer to Note 10).

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"10. OPERATING SEGMENT INFORMATION The Company is organized into three operating and reportable segments that align technologies and applications with customers and end markets: High Performance Analog (""HPA""), Connectivity and Sensors Group (""CSG"") and Advanced Cellular Group (""ACG""). HPA is a leading global supplier of radio frequency, analog mixed signal and power management solutions. HPA leverages a diverse portfolio of differentiated process technologies and products to serve customers in consumer, defense and aerospace, infrastructure, and industrial and enterprise markets. CSG is a leading global supplier of connectivity solutions, with broad expertise spanning ultra-wideband, Matter , Bluetooth Low Energy, Zigbee , Thread , Wi-Fi and cellular solutions for the Internet of Things to serve customers in automotive, consumer, industrial and enterprise, and mobile markets. ACG is a leading global supplier of advanced cellular solutions for smartphones, wearables, laptops, tablets and other devices. ACG leverages world-class technology and systems-level expertise to deliver a broad portfolio of high-performance discrete and highly integrated cellular products. The Company's three operating and reportable segments are based on the organizational structure and information reviewed by the Company's Chief Executive Officer, who is also the Company's chief operating decision maker (the ""CODM""). The CODM primarily uses segment operating income (loss) to evaluate each seg …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

6. STOCK REPURCHASES On November 2, 2022, the Company announced that its Board of Directors authorized a share repurchase program to repurchase up to $2.0 billion of the Company's outstanding common stock, which included the remaining authorized dollar amount under a prior program terminated concurrent with the new authorization. Under this program, share repurchases are made in accordance with applicable securities laws on the open market or in privately negotiated transactions. The extent to which the Company repurchases its shares, the number of shares and the timing of any repurchases depends on general market conditions, regulatory requirements, alternative investment opportunities and other considerations. The program does not require the Company to repurchase a minimum number of shares, does not have a fixed term, and may be modified, suspended or terminated at any time without prior notice. Shares withheld to satisfy tax withholding requirements related to the vesting of share-based awards are not considered issued or considered stock repurchases under the Company's stock repurchase program. During the three months ended June 27, 2026, the Company did not repurchase any shares of its common stock. As of June 27, 2026, approximately $416.2 million remains authorized for repurchases under its share repurchase program. During the three months ended June 28, 2025, the Company repurchased approximately 0.7 million shares of its common stock for approximately $50.0 million …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing