0000950170-23-001725 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Dec. 24, 2022	Jan. 26, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 24, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Trading Symbol	SYNA
Entity Registrant Name	SYNAPTICS INCORPORATED
Entity Central Index Key	0000817720
Current Fiscal Year End Date	--12-24
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		39,395,760
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $.001 per share
Security Exchange Name	NASDAQ
Entity File Number	000-49602
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0118518
Entity Address, Address Line One	1109 McKay Drive
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95131
City Area Code	408
Local Phone Number	904-1100
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Dec. 24, 2022	Jun. 25, 2022
Current Assets:
Cash and cash equivalents	$ 818.8	$ 824.0
Short-term investments	40.1	52.0
Accounts receivable, net	255.0	322.1
Inventories, net	177.5	169.7
Prepaid expenses and other current assets	32.6	35.6
Total current assets	1,324.0	1,403.4
Property and equipment at cost, net of accumulated depreciation of $128.7 and $122.8 at December 2022 and June 2022, respectively	65.9	62.9
Goodwill	816.4	806.6
Acquired intangibles, net	333.7	390.0
Right-of-use assets	53.0	61.2
Non-current other assets	132.3	134.0
Total assets	2,725.3	2,858.1
Current Liabilities:
Accounts payable	82.7	141.8
Accrued compensation	37.2	90.6
Income taxes payable	60.3	79.7
Other accrued liabilities	113.1	145.3
Current portion of long-term debt	6.0	6.0
Total current liabilities	299.3	463.4
Long-term debt	973.9	975.7
Other long-term liabilities	151.7	152.6
Total liabilities	1,424.9	1,591.7
Stockholders' Equity:
$0.001 par value; 120,000,000 shares authorized, 68,459,485 and 67,745,800 shares issued, and 39,581,687 and 39,621,179 shares outstanding, at December 2022 and June 2022, respectively	0.1	0.1
Additional paid-in capital	945.7	924.1
Treasury stock: 28,877,798 and 28,124,621 common shares at December 2022 and June 2022, respectively, at cost	(769.0)	(694.5)
Accumulated other comprehensive income	(1.5)	(1.8)
Retained earnings	1,125.1	1,038.5
Total stockholders' equity	1,300.4	1,266.4
Liabilities and stockholders' equity	$ 2,725.3	$ 2,858.1

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Millions	Dec. 24, 2022	Jun. 25, 2022
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation	$ 128.7	$ 122.8
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	68,459,485	67,745,800
Common stock, shares outstanding	39,581,687	39,621,179
Common treasury shares	28,877,798	28,124,621

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 24, 2022	Dec. 25, 2021	Dec. 24, 2022	Dec. 25, 2021
Income Statement [Abstract]
Net revenue	$ 353.1	$ 420.5	$ 801.2	$ 793.2
Cost of revenue	166.4	195.4	358.8	370.0
Gross margin	186.7	225.1	442.4	423.2
Operating expenses:
Research and development	89.3	88.9	178.8	175.0
Selling, general, and administrative	42.4	44.3	87.1	85.9
Acquired intangibles amortization	8.9	9.2	18.4	17.6
Restructuring costs		5.1	0.0	6.5
Total operating expenses	140.6	147.5	284.3	285.0
Operating income	46.1	77.6	158.1	138.2
Interest and other expense, net	(6.7)	(5.7)	(15.0)	(11.6)
Loss on redemption of convertible notes			0.0	(8.1)
Income before provision for income taxes and equity investment loss	39.4	71.9	143.1	118.5
Provision for income taxes	17.4	2.0	56.5	7.9
Equity investment loss		0.4	0.0	0.9
Net income	$ 22.0	$ 69.5	$ 86.6	$ 109.7
Net income per share:
Basic	$ 0.55	$ 1.76	$ 2.18	$ 2.85
Diluted	$ 0.55	$ 1.71	$ 2.14	$ 2.70
Shares used in computing net income:
Basic	39.8	39.4	39.8	38.5
Diluted	40.2	40.7	40.5	40.7

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 24, 2022	Dec. 25, 2021	Dec. 24, 2022	Dec. 25, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 22.0	$ 69.5	$ 86.6	$ 109.7
Other comprehensive income (loss), net of tax
Unrealized income (loss) on available-for-sale-securities	0.4	(0.1)	0.3	(0.1)
Comprehensive Income	$ 22.4	$ 69.4	$ 86.9	$ 109.6

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income [Member]	Retained Earnings [Member]
Balance, value at Jun. 26, 2021	$ 967.2	$ 0.1	$ 1,391.5	$ (1,205.4)		$ 781.0
Balance, shares at Jun. 26, 2021		66,963,006
Net income	40.2					40.2
Issuance of common stock for share- based award compensation plans	7.8		7.8
Issuance of common stock for share-based award compensation plans, shares		384,866
Payroll taxes for deferred stock units	(27.7)		(27.7)
Redemption of Convertible Debt	(7.3)		(518.2)	510.9
Share-based compensation	21.2		21.2
Balance, value at Sep. 25, 2021	1,001.4	$ 0.1	874.6	(694.5)		821.2
Balance, shares at Sep. 25, 2021		67,347,872
Balance, value at Jun. 26, 2021	967.2	$ 0.1	1,391.5	(1,205.4)		781.0
Balance, shares at Jun. 26, 2021		66,963,006
Net income	109.7
Common stock repurchased
Balance, value at Dec. 25, 2021	1,063.9	$ 0.1	867.7	(694.5)	$ (0.1)	890.7
Balance, shares at Dec. 25, 2021		67,643,668
Balance, value at Sep. 25, 2021	1,001.4	$ 0.1	874.6	(694.5)		821.2
Balance, shares at Sep. 25, 2021		67,347,872
Net income	69.5					69.5
Other comprehensive income	(0.1)				(0.1)
Issuance of common stock for share- based award compensation plans	0.8		0.8
Issuance of common stock for share-based award compensation plans, shares		295,796
Payroll taxes for deferred stock units	(35.8)		35.8
Share-based compensation attributable to acquisition	1.7		1.7
Share-based compensation	26.4		26.4
Balance, value at Dec. 25, 2021	1,063.9	$ 0.1	867.7	(694.5)	(0.1)	890.7
Balance, shares at Dec. 25, 2021		67,643,668
Balance, value at Jun. 25, 2022	1,266.4	$ 0.1	924.1	(694.5)	(1.8)	1,038.5
Balance, shares at Jun. 25, 2022		67,745,800
Net income	64.6					64.6
Other comprehensive income	(0.1)				(0.1)
Issuance of common stock for share- based award compensation plans	8.5		8.5
Issuance of common stock for share-based award compensation plans, shares		483,713
Payroll taxes for deferred stock units	(31.4)		(31.4)
Common stock repurchased	(13.4)			(13.4)
Share-based compensation	30.5		30.5
Balance, value at Sep. 24, 2022	1,325.1	$ 0.1	931.7	(707.9)	(1.9)	1,103.1
Balance, shares at Sep. 24, 2022		68,229,513
Balance, value at Jun. 25, 2022	1,266.4	$ 0.1	924.1	(694.5)	(1.8)	1,038.5
Balance, shares at Jun. 25, 2022		67,745,800
Net income	86.6
Common stock repurchased	(74.5)
Balance, value at Dec. 24, 2022	1,300.4	$ 0.1	945.7	(769.0)	(1.5)	1,125.1
Balance, shares at Dec. 24, 2022		68,459,485
Balance, value at Sep. 24, 2022	1,325.1	$ 0.1	931.7	(707.9)	(1.9)	1,103.1
Balance, shares at Sep. 24, 2022		68,229,513
Net income	22.0					22.0
Other comprehensive income	0.4				0.4
Issuance of common stock for share- based award compensation plans	0.3		0.3
Issuance of common stock for share-based award compensation plans, shares		229,972
Payroll taxes for deferred stock units	(17.7)		17.7
Common stock repurchased	(61.1)			61.1
Share-based compensation	31.4		31.4
Balance, value at Dec. 24, 2022	$ 1,300.4	$ 0.1	$ 945.7	$ (769.0)	$ (1.5)	$ 1,125.1
Balance, shares at Dec. 24, 2022		68,459,485

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Dec. 24, 2022	Dec. 25, 2021
Cash flows from operating activities
Net income	$ 86.6	$ 109.7
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation costs	61.9	47.6
Depreciation and amortization	12.6	11.6
Acquired intangibles amortization	65.2	54.4
Loss on redemption of convertible notes	0.0	8.1
Deferred taxes	(11.0)	(6.2)
Amortization of right-of-use assets	5.1	5.0
Amortization of debt discount and issuance costs	1.4	2.1
Amortization of cost of development services	5.0	5.0
Provision for inventory excess and obsolescence	(1.1)	(9.0)
Other	0.6	(0.1)
Equity investment loss	0.0	0.9
Foreign currency remeasurement loss	1.3	0.4
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable, net	69.3	(70.9)
Inventories	(6.7)	(19.7)
Prepaid expenses and other current assets	(1.7)	(12.5)
Other assets	10.2	(5.1)
Accounts payable	(62.1)	29.8
Accrued compensation	(54.2)	(18.9)
Income taxes payable	(6.6)	(6.6)
Other accrued liabilities	(47.3)	55.1
Net cash provided by operating activities	128.5	180.7
Cash flows from investing activities
Acquisition of businesses, net of cash and cash equivalents acquired	(15.5)	(512.2)
Proceeds from maturities of investments	11.9	0.6
Receipt of liquidation payment on equity investment	0.8
Other	0.2
Purchase of intangible assets	(0.9)
Purchases of property and equipment	(15.3)	(13.2)
Cash flows from financing activities
Payment for redemption of convertible notes		(505.6)
Proceeds from term loan		600.0
Payment of debt issuance costs		(11.2)
Proceeds from issuance of shares	8.8	8.6
Payroll taxes for deferred stock and market stock units	(49.1)	(63.5)
Repurchases of common stock	(74.5)
Repayment of debt	(3.0)
Refundable deposit paid to vendor	0.0	(16.6)
Return of deposit received from vendor	2.8	0.0
Net cash used in financing activities	(115.0)	(11.7)
Effect of exchange rate changes on cash and cash equivalents	0.1	(1.1)
Net increase/(decrease) in cash and cash equivalents	(5.2)	(333.5)
Cash and cash equivalents at beginning of period	824.0	836.3
Cash and cash equivalents at end of period	818.8	502.8
Supplemental disclosures of cash flow information
Cash paid for taxes, net of refunds	72.3	15.8
Cash paid for interest	21.5	8.3
Supplemental disclosures of non-cash transactions
Purchases of property and equipment in current liabilities	$ 4.9	$ 6.0

Basis of Presentation

6 Months Ended

Dec. 24, 2022

Accounting Policies [Abstract]

Basis of Presentation

1. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission, or the SEC, and United States generally accepted accounting principles, or U.S. GAAP. Certain information or footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to SEC rules and regulations. In our opinion, the financial statements include all adjustments, which are of a normal and recurring nature and necessary for the fair presentation of the results of the interim periods presented. The results of operations for the interim periods are not necessarily indicative of the operating results for the full fiscal year or any future period. These financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended June 25, 2022.

The condensed consolidated financial statements include our financial statements and those of our wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated upon consolidation. Certain reclassifications have been made to the amounts for prior years in order to conform to the current year’s presentation

Our fiscal year is the 52- or 53-week period ending on the last Saturday in June. Our fiscal 2023 and 2022 are 52-week periods ending June 24, 2023 and June 25, 2022, respectively. The fiscal periods presented in this report are 13-week periods ended December 24, 2022, and December 25, 2021, respectively.

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, allowance for doubtful accounts, cost of revenue, inventories, loss on purchase commitments, product warranty, accrued liabilities, share-based compensation costs, provision for income taxes, deferred income tax asset valuation allowances, uncertain tax positions, goodwill, intangible assets, investments and loss contingencies. We base our estimates on historical experience, applicable laws and regulations, and various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

Business Combinations

On October 25, 2022, we acquired all of the outstanding shares of Emza Visual Sense Ltd., or Emza. Our condensed consolidated financial statements include the operating results of Emza for the period from the date of the closing of the acquisition through the second quarter of fiscal year 2023. We have applied the acquisition method of accounting in accordance with ASC 805 Business Combinations to account for this transaction. Refer to “Note 4. Acquisitions” for further discussion of the transaction.

Recently Issued Accounting Pronouncement Pending Adoption

In October 2021, the FASB issued ASU 2021-08, “Business Combinations (Topic 805): Accounting for Acquired Contract Assets and Contract Liabilities” which improves comparability for both the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination by providing consistent recognition guidance. This standard is effective for fiscal years beginning after December 15, 2022. Early adoption is permitted, including in an interim period, for any period for which financial statements have not yet been issued. However, adoption in an interim period other than the first fiscal quarter requires an entity to apply the new guidance to all prior business combinations that have occurred since the beginning of the annual period in which the new guidance is adopted. We are currently evaluating the timing of adoption and impact, if any, of this new standard on our consolidated financial statements.

Revenue Recognition

6 Months Ended

Dec. 24, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

2. Revenue Recognition

We account for revenue using Accounting Standards Codification Topic 606, or ASC 606, Revenue from Contracts with Customers. Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to receive in exchange for those goods or services. All of our revenue, except an inconsequential amount, is recognized at a point in time, either on shipment or delivery of the product, depending on customer terms and conditions.

Our accounts receivable balance is from contracts with customers and represents our unconditional right to receive consideration from customers. To date, there have been no material bad debt charges recorded on accounts receivable. There were $1.3 million and $1.2 million in contract assets recorded on our condensed consolidated balance sheets as of December 2022 and June 2022, respectively. Contract assets are presented as part of prepaid expenses and other current assets.

Contract liabilities and refund liabilities were $27.3 million and $40.8 million, respectively, as of December 2022 and $27.3 million and $61.3 million, respectively, as of June 2022. Both contract liabilities and refund liabilities are presented as customer obligations in Note 10 Balance Sheet Components. During the six months ended December 2022 and December 2021, we recognized $2.8 million and $3.3 million, respectively, in revenue related to contract liabilities, which was outstanding as of the beginning of each such fiscal year.

Revenue from contracts with customers disaggregated by geographic area based on customer location and product category is presented in Note 15 Segment, Customers, and Geographical Information.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Net Income Per Share

6 Months Ended

Dec. 24, 2022

Earnings Per Share [Abstract]

Net Income Per Share

3. Net Income Per Share

The computation of basic and diluted net income per share was as follows (in millions, except per share data):


	Three Months Ended				Six Months Ended
	December				December
	2022		2021		2022		2021
Numerator:
Net income	$	22.0	$	69.5	$	86.6	$	109.7
Denominator:
Shares, basic		39.8		39.4		39.8		38.5
Effect of dilutive share-based awards and convertible notes		0.4		1.3		0.7		2.2
Shares, diluted		40.2		40.7		40.5		40.7
Net income per share:
Basic	$	0.55	$	1.76	$	2.18	$	2.85
Diluted	$	0.55	$	1.71	$	2.14	$	2.70

Our basic net income per share amounts for each period presented have been computed using the weighted average number of shares of common stock, $0.001 par value, or the common stock, outstanding over the period measured. Our diluted net income per share amounts for each period presented include the weighted average effect of potentially dilutive shares. We use the "treasury stock" method to determine the dilutive effect of our stock options, restricted stock units, or RSUs, market stock units, or MSUs, performance stock units, or PSUs, and our convertible notes, which were settled in August 2021.

Dilutive net income per share amounts do not include the potential weighted average effect of 1,092,428 and 12,987 shares of common stock related to certain share-based awards that were outstanding during the three months ended December 2022 and December 2021, respectively, and 640,047 and 10,209 shares of common stock related to certain share-based awards that were outstanding during six months ended December 2022 and December 2021, respectively. These share-based awards were not included in the computation of diluted net income per share because their effect would have been antidilutive.

Inventories

6 Months Ended

Dec. 24, 2022

Inventory Disclosure [Abstract]

Inventories

. Inventories

Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value and consisted of the following (in millions):


	December		June
	2022		2022
Raw materials and work-in-progress	$	84.1	$	92.2
Finished goods		93.4		77.5
	$	177.5	$	169.7

We record a write-down, if necessary, to reduce the carrying value of inventory to its net realizable value. The effect of these write-downs is to establish a new cost basis in the related inventory, which we do not subsequently write up. We also record a liability and charge to cost of revenue for estimated losses on inventory we are obligated to purchase from our contract manufacturers when such losses become probable from customer delays, order cancellations, or other factors. The following factors influence our estimates: changes to or cancellations of customer orders, unexpected or sudden decline in demand, rapid product improvements, technological advances, and termination or changes by our original equipment manufacturers, or OEM, customers of any product offerings incorporating our product solutions.

Cash, Cash Equivalents and Short-Term Investments

6 Months Ended

Dec. 24, 2022

Cash, Cash Equivalents, and Short-Term Investments [Abstract]

Cash, Cash Equivalents, and Short-Term Investments [Text Block]

. Cash, Cash Equivalents and Short-Term Investments

The following table summarizes our cash, cash equivalents and short-term investments by category at December 2022 and June 2022 (in millions):


	December 2022
	Amortized Cost		Gross unrealized gain (loss)			Fair Value
Cash	$	321.4	$	-		$	321.4
Cash equivalents:
Money market funds		440.0		-			440.0
Certificates of deposit		57.4		-			57.4
Total cash and cash equivalents	$	818.8	$	-		$	818.8
Short-term investments:
Certificates of deposit	$	1.1	$	-		$	1.1
Corporate debt securities		35.8		(1.6	)		34.2
Municipal bonds		4.9		(0.1	)		4.8
Total short-term investments	$	41.8	$	(1.7	)	$	40.1


	June 2022
	Amortized Cost		Gross unrealized gain (loss)			Fair Value
Cash	$	811.9	$	-		$	811.9
Cash equivalents:
Money market funds		12.1		-			12.1
Total cash and cash equivalents	$	824.0	$	-		$	824.0
Short-term investments:
Certificates of deposit	$	2.4	$	-		$	2.4
Corporate debt securities		43.7		(1.9	)		41.8
Municipal bonds		7.9		(0.1	)		7.8
Total short-term investments	$	54.0	$	(2.0	)	$	52.0

The following table classifies our short-term investments by contractual maturities (in millions):


	December 2022				June 2022
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within 1 year	$	18.5	$	18.2	$	21.0	$	20.4
Due between 1 year to 5 years		23.3		21.9		33.0		31.6
	$	41.8	$	40.1	$	54.0	$	52.0

Fair Value Measurements

6 Months Ended

Dec. 24, 2022

Fair Value Disclosures [Abstract]

Fair Value

. Fair Value Measurements

We determine fair value based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair value is defined 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 fair value assumes that the transaction to sell the asset or transfer the liability occurs in the principal or most advantageous market for the asset or liability and establishes that the fair value of an asset or liability shall be determined based on the assumptions that market participants would use in pricing the asset or liability. The classification of a financial asset or liability within the hierarchy is based upon the lowest level input that is significant to the fair value measurement. The fair value hierarchy prioritizes the inputs into three levels that may be used to measure fair value:

•

Level 1 – Valuation is based upon unadjusted quoted prices for identical assets or liabilities in active markets.

•

Level 2 – Valuation is based upon quoted prices for similar assets and liabilities in active markets, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instruments.

•

Level 3 – Valuation is based upon other unobservable inputs that are significant to the fair value measurements.

Our Level 1 financial instruments are traded in active markets, and the fair value is based on quoted market prices for identical instruments. The fair value of our Level 2 fixed income securities is obtained from an independent pricing service, which may use quoted market prices for identical or comparable instruments or model driven valuations using observable market data or inputs corroborated by observable market data. Our marketable securities are held by custodians who obtain investment prices from a third-party pricing provider that incorporates standard inputs in various asset price models.

At December 2022 and June 2022, financial assets measured at fair value on a recurring basis are summarized below (in millions):


	December 2022
	Level 1		Level 2		Level 3		Total (1)
Assets:
Cash equivalents:
Money market funds	$	440.0	$	-	$	-	$	440.0
Certificates of deposit		-		57.4		-		57.4
Short-term investments:
Certificates of deposit		-		1.1		-		1.1
Corporate debt securities		-		34.2		-		34.2
Municipal bonds		-		4.8		-		4.8
Total assets	$	440.0	$	97.5	$	-	$	537.5

(1) Excludes $321.5 million in cash held in our bank accounts as of December 2022.


	June 2022
	Level 1		Level 2		Level 3		Total (1)
Assets:
Cash equivalents:
Money market funds	$	12.1	$	-	$	-	$	12.1
Short-term investments:
Certificates of deposit		-		2.4		-		2.4
Corporate debt securities		-		41.8		-		41.8
Municipal bonds		-		7.8		-		7.8
Total assets	$	12.1	$	52.0	$	-	$	64.1

(1) Excludes $811.9 million in cash held in our bank accounts as of June 2022.

Financial Instruments Not Recorded at Fair Value on a Recurring Basis

We report our financial instruments at fair value with the exception of the Senior Notes and Term Loan Facility, as defined in Note 12 Debt. The estimated fair value of the Senior Notes and Term Loan Facility was determined based on the trading price of the Senior Notes and Term Loan Facility as of the last day of trading for the period. We consider the fair value of the Senior Notes and Term Loan Facility to be a Level 2 measurement as they are not actively traded in markets.

The carrying amounts and estimated fair values of the Senior Notes and Term Loan Facility are as follows for the periods presented (in millions):


	December 2022				June 2022
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Senior Notes due 2029	$	395.3	$	339.0	$	395.0	$	326.9
Term Loan Facility due 2028		584.6		574.0		586.7	$	575.0
	$	979.9	$	913.0	$	981.7	$	901.9

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Acquisition

6 Months Ended

Dec. 24, 2022

Business Combinations [Abstract]

Acquisition

4. Acquisitions

On October 25, 2022, we acquired all of the outstanding shares of Emza, a developer of ultra-low-power artificial intelligence visual sensing solutions, for total purchase consideration of $15.8 million. The purchase price was attributed to $0.3 million cash acquired, $8.0 million of intangible assets, $9.8 million of goodwill and $2.3

million net liabilities assumed. We will continue to evaluate certain assets, liabilities and tax estimates over the measurement period (up to one year from the acquisition date). Goodwill recognized from the acquisition of Emza is not deductible for income tax purposes. Pro forma results of operations for this acquisition has not been presented because they are not material to our consolidated results of operations, either individually or in the aggregate.

Acquired Intangibles and Goodwill

6 Months Ended

Dec. 24, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Acquired Intangibles and Goodwill

. Acquired Intangibles and Goodwill

Goodwill

The following table represents the change in our goodwill balance for the six and twelve month periods ended December 2022 and June 2022, respectively (in millions):


	December 2022		June 2022
Beginning balance	$	806.6	$	570.0
Acquisition activity		9.8		236.6
Ending balance	$	816.4	$	806.6

Acquired Intangibles

The following table summarizes the life, the gross carrying value and the related accumulated amortization of our acquired intangible assets (in millions):


			December 2022							June 2022
	Weighted Average Life in Years		Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Audio and video technology		5.6	$	231.9	$	(130.3	)	$	101.6	$	232.1	$	(109.3	)	$	122.8
Customer relationships		4.1		158.2		(101.4	)		56.8		170.5		(99.7	)		70.8
Wireless connectivity technology		5.7		128.0		(45.0	)		83.0		128.0		(33.8	)		94.2
Video interface technology		3.0		82.0		(66.0	)		16.0		82.0		(52.4	)		29.6
Human presence detection technology		5.0		5.2		(0.2	)		5.0		—		—			—
Licensed technology and other		4.4		10.8		(8.5	)		2.3		9.9		(7.5	)		2.4
Patents		8.0		4.4		(4.0	)		0.4		4.4		(3.7	)		0.7
Tradename		4.4		5.8		(4.2	)		1.6		5.8		(3.3	)		2.5
In process research and development	Not applicable			67.0		—			67.0		67.0		—			67.0
Acquired intangibles totals		4.9	$	693.3	$	(359.6	)	$	333.7	$	699.7	$	(309.7	)	$	390.0

The total amortization expense for the acquired intangible assets was $32.2 million and $29.2 million for the three months ended December 2022 December 2021, respectively, and $65.2 million and 54.4 million for the six months ended December 2022 and December 2021, respectively.

During the three months ended December 2022 and December 2021, $23.3 million and $19.9 million, respectively, and $46.8 million and $36.8 million for the six months ended December 2022 and December 2021, respectively, of amortization expense was included in our condensed consolidated statements of income in cost of revenue; the remainder was included in acquired intangibles amortization.

Leases

6 Months Ended

Dec. 24, 2022

Leases [Abstract]

Leases

. Leases

Our leases mainly include our worldwide office and research and development facilities which are all classified as operating leases. Certain leases include renewal options that are under our discretion. The leases expire at various dates through fiscal year 2034, some of which include options to extend the lease for up to seven years. For the six months ended December 2022 and December 2021, we recorded approximately $6.3 million and $5.7 million, respectively, of operating leases expense. Our short-term leases are immaterial.

As of December 2022 and June 2022, the components of leases are as follows (in millions):


	December		June
	2022		2022
Operating lease right-of-use assets	$	53.0	$	61.2
Operating lease liabilities	$	7.8	$	7.6
Operating lease liabilities, long-term		45.3		51.5
Total operating lease liabilities	$	53.1	$	59.1

Supplemental cash flow information related to leases, including from acquisitions, is as follows (in millions):


	Six Months Ended
	December
	2022		2021
Cash paid for operating leases included in operating cash flows	$	6.2	$	5.4
Supplemental non-cash information related to lease liabilities arising from obtaining right-of-use assets	$	6.7	$	17.6

As of December 2022, the weighted average remaining lease term is 7.5 years, and the weighted average discount rate is 5.1%.

Future minimum lease payments for the operating lease liabilities are as follows (in millions):


	Operating
	Lease
Fiscal Year	Payments
Remainder of 2023	$	2.5
2024		11.2
2025		9.8
2026		8.3
2027		7.3
Thereafter		26.0
Total future minimum operating lease payments		65.1
Less: interest		(12.0	)
Total lease liabilities	$	53.1

Balance Sheet Components

6 Months Ended

Dec. 24, 2022

Payables and Accruals [Abstract]

Other Accrued Liabilities and Other Long-Term Liabilities

. Balance Sheet Components

Accounts receivable, net, consisted of the following (in millions):


	December			June
	2022			2022
Accounts receivable	$	261.1		$	328.1
Less: Allowance for doubtful accounts		(6.1	)		(6.0	)
	$	255.0		$	322.1

Other accrued liabilities consisted of the following (in millions):


	December		June
	2022		2022
Customer obligations	$	68.3	$	88.6
Inventory obligations		8.6		14.1
Operating lease liabilities		7.8		7.6
Other		28.4		35.0
	$	113.1	$	145.3

Other long-term liabilities consisted of the following (in millions):


	December		June
	2022		2022
Operating lease liabilities, long-term	$	45.3	$	51.5
Deferred tax liability		48.1		52.6
Income taxes payable, long-term		41.2		29.1
Other		17.1		19.4
	$	151.7	$	152.6

Indemnifications and Contingencies

6 Months Ended

Dec. 24, 2022

Commitments and Contingencies Disclosure [Abstract]

Indemnifications and Contingencies

11. Indemnifications and Contingencies

Indemnifications

In connection with certain agreements, we are obligated to indemnify the counterparty against third party claims alleging infringement of certain intellectual property rights by us. We have also entered into indemnification agreements with our officers and directors. Maximum potential future payments under these agreements cannot be estimated because these agreements generally do not have a maximum stated liability. However, historical costs related to these indemnification provisions have not been significant. We have not recorded any liability in our condensed consolidated financial statements for such indemnification obligations.

Contingencies

We have in the past, and may in the future, receive notices from third parties that claim our products infringe their intellectual property rights. We cannot be certain that our technologies and products do not and will not infringe issued patents or other proprietary rights of third parties.

Any infringement claims, with or without merit, could result in significant litigation costs and diversion of management and financial resources, including the payment of damages, which could have a material adverse effect on our business, financial condition, and results of operations.

Debt

6 Months Ended

Dec. 24, 2022

Debt Disclosure [Abstract]

Debt

12. Debt

Senior Notes

On March 11, 2021, we completed an offering of $400.0 million aggregate principal amount of 4.0% senior notes due 2029, or the Senior Notes, in a private offering. The Senior Notes were issued pursuant to an indenture, dated as of March 11, 2021, or the Indenture, by and among our company, the guarantors named therein and Wells Fargo Bank, National Association, as trustee.

The Indenture provides that the Senior Notes will bear interest at a rate of 4.0% per annum, payable in cash semi-annually in arrears on December 15 and June 15 of each year, commencing on June 15, 2021. The Senior Notes will mature on June 15, 2029 and are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by each of our current and future domestic restricted subsidiaries that guarantee our obligations under our senior secured credit facilities.

Prior to June 15, 2024, we may redeem the Senior Notes, in whole or in part, at a redemption price of 100% of the principal amount thereof, plus a make-whole premium set forth in the Indenture, plus accrued and unpaid interest, if any, up to, but excluding, the redemption date.

On or after June 15, 2024, we may redeem some or all of the Senior Notes at the redemption prices specified below, plus accrued and unpaid interest, if any, up to, but excluding, the redemption date:


Year	Price
2024		102	%
2025		101	%
2026 and thereafter		100	%

In addition, at any time prior to June 15, 2024, we may redeem up to 40% of the aggregate principal amount of the Senior Notes at a redemption price equal to 104% of the principal amount thereof, plus accrued and unpaid interest, if any, up to, but excluding, the applicable redemption date with the net cash proceeds from one or more equity offerings by us.

The Senior Notes are the general unsecured obligations of our company. The Senior Note guarantees are the senior unsecured obligations of each guarantor. Under certain circumstances, the guarantors may be released from their Senior Note guarantees without consent of the holders of Senior Notes. Under the terms of the Indenture, the Senior Notes rank equally in right of payment with all of our and the guarantors’ existing and future senior indebtedness, and rank contractually senior in right of payment to our and the guarantors’ future indebtedness and other obligations that are, by their terms, expressly subordinated in right of payment to the Senior Notes. The Senior Notes are effectively subordinated to our and the guarantors’ existing and future secured indebtedness, including secured indebtedness under our senior secured credit facilities, to the extent of the value of the assets securing such indebtedness. The Senior Notes and guarantees are structurally subordinated to all existing and future indebtedness and liabilities (including trade payables) of our subsidiaries that do not guarantee the Senior Notes.

The Indenture contains covenants that, subject to exceptions and qualifications, among other things, limit our ability and the ability of our Restricted Subsidiaries (as defined in the Indenture) to (i) incur additional indebtedness and guarantee indebtedness; (ii) pay dividends or make other distributions or repurchase or redeem our company’s or any parent’s capital stock; (iii) prepay, redeem or repurchase certain indebtedness; (iv) issue certain preferred stock or similar equity securities; (v) make loans and investments; (vi) dispose of assets; (vii) incur liens; (viii) enter into transactions with affiliates; (ix) enter into agreements restricting its subsidiaries’ ability to pay dividends; and (x) consolidate, merge or sell all or substantially all of its assets.

The Indenture contains customary events of default including, without limitation, failure to make required payments, failure to comply with certain agreements or covenants, cross-acceleration to certain other indebtedness in excess of specified amounts, certain events of bankruptcy and insolvency, and failure to pay certain judgments. An event of default under the Indenture will allow either the trustee or the holders of at least 25% in aggregate principal amount of the then outstanding Senior Notes to accelerate, or in certain cases, will automatically cause the acceleration of, the maturity of the principal, and accrued and unpaid interest, if any, on all outstanding Notes.

Debt issuance costs relating to the Senior Notes of $5.7 million, netted against the debt amount on the condensed consolidated balance sheet, are amortized as interest expense through the maturity date. The total interest expense recorded on the Senior Notes during the three and six months ended December 2022 was $4.0 million and $8.0 million, respectively.

Revolving Credit Facility

On March 11, 2021, we entered into a Second Amended and Restated Credit Agreement, with the lenders party thereto and Wells Fargo Bank, National Association, as administrative agent, or the Credit Agreement, to, among other changes, extend the maturity date of our senior secured revolving credit facility, to five years from the closing date of the amendment, increase the facility size from $200.0 million to $250.0 million, and replace the requirement to maintain a total debt to Consolidated EBITDA (as defined in the Credit Agreement) ratio of not more than 4.75 to 1.00 with a requirement to maintain a net total debt to Consolidated EBITDA ratio of not more than 3.75 to 1.00 provided that for the four fiscal quarters ending after the date of a material acquisition, such maximum leverage ratio shall be adjusted to 4.25 to 1.00, and thereafter 3.75 to 1.00, provided further, that such deemed increase pursuant to the foregoing shall not apply to more than two material acquisitions consummated during the term of the Credit Agreement.

The Credit Agreement provides for a revolving credit facility in a principal amount of up to $250 million, which includes a $20 million sublimit for letters of credit and a $25 million sublimit for swingline loans. Under the terms of the Credit Agreement, we may, subject to the satisfaction of certain conditions, request increases in the revolving credit facility commitments in an aggregate principal amount of up to $150 million to the extent existing or new lenders agree to provide such increased or additional commitments, as applicable. Future proceeds under the revolving credit facility are available for working capital and general corporate purposes. In March 2021 we used a portion of the proceeds from the Senior Notes described above to repay the $100.0 million outstanding borrowings on this revolving credit facility. As of December 2022, there was no balance outstanding under the revolving credit facility.

Borrowings under the revolving credit facility are required to be repaid in full by March 11, 2026. Debt issuance costs relating to the revolving credit facility of $1.6 million, included in non-current other assets on our consolidated balance sheet, are being amortized over 60 months.

Our obligations under the Credit Agreement are guaranteed by the material domestic subsidiaries of our company, subject to certain exceptions, who collectively with our company are referred to as the Credit Parties. The obligations of the Credit Parties under the Credit Agreement and the other loan documents delivered in connection therewith are secured by a first priority security interest in substantially all of the existing and future personal property of the Credit Parties, including, without limitation, 65% of the voting capital stock and 100% of the non-voting capital stock of certain of the Credit Parties’ direct foreign subsidiaries, subject to certain exceptions.

The revolving credit facility bears interest at our election of a Base Rate plus an Applicable Margin or LIBOR plus an Applicable Margin. Swingline loans bear interest at a Base Rate plus an Applicable Margin. The Base Rate is a floating rate that is the greater of the Prime Rate, the Federal Funds Rate plus 50 basis points, or LIBOR plus 100 basis points. The Applicable Margin is based on a sliding scale which ranges from 0.25 to 100 basis points for Base Rate loans and 100 basis points to 175 basis points for LIBOR loans. We are required to pay a commitment fee on any unused commitments under the Credit Agreement which is determined on a leverage-based sliding scale ranging from 0.175% to 0.25% per annum. Interest and fees are payable on a quarterly basis. The LIBOR index is expected to be discontinued at the end of June 2023. Under our credit facility, when the LIBOR index is discontinued, we will switch to a comparable or successor rate as selected by us and the administrative agent, which may include the Secured Overnight Financing Rate, or SOFR.

Under the Credit Agreement, there are various restrictive covenants, including two financial covenants which limit the consolidated total leverage ratio, or leverage ratio, the consolidated interest coverage ratio, or interest coverage ratio, a restriction that permits accounts receivable financings provided that the aggregate unpaid amount of permitted accounts receivable financings are no more than the greater of $100 million and 50% of the amount of all accounts receivable of the Company and specified subsidiaries and other specific items. The leverage ratio is the ratio of net debt as of the measurement date to Consolidated EBITDA, for the four consecutive quarters ending with the quarter of measurement. The current leverage ratio shall not exceed 3.75 to 1.00 provided that for the four fiscal quarters ending after the date of a material acquisition, such maximum leverage ratio shall be adjusted to 4.25 to 1.00, and thereafter 3.75 to 1.0. The interest coverage ratio is Consolidated EBITDA to interest expense for the four consecutive quarters ending with the quarter of measurement. The interest coverage ratio must not be less than 3.50 to 1.0 during the term of the Credit Agreement. As of December 2022, we remain in compliance with the restrictive covenants.

Term Loan Facility

On December 2, 2021, we entered into that certain First Amendment and Lender Joinder Agreement to the Credit Agreement, to, among other things, establish a new $600.0 million incremental term loan facility, or the Term Loan Facility. The Term Loan Facility was advanced by certain existing and new lenders under the Credit Agreement to finance the DSPG acquisition. The Term Loan Facility matures on December 2, 2028. Principal on the Term Loan Facility is payable in equal quarterly installments on the last day of each March, June, September and December of each year, beginning December 31, 2021, at a rate of 1.00% per annum.

Borrowings under the Term Loan Facility will accrue interest at the London Interbank Offered Rate, or LIBOR, plus 2.25% or at the base rate plus 1.50%, subject to a 25 basis point step-down based on total gross leverage, and subject to a LIBOR floor of 50 basis points. The base rate is the highest of (i) the Federal Funds Rate plus 0.50%, (ii) the Wells Fargo Bank, National Association prime rate and (iii) the one-month LIBOR plus 1.00%. The Term Loan Facility contains customary representations and warranties, affirmative and negative covenants and events of default, in each case consistent with the Credit Agreement. The Term Loan Facility does not contain any financial covenant.

The Term Loan Facility is subject to a 1.00% prepayment premium in the event all or any portion of the Term Loan Facility is prepaid within the first 6 months in connection with a repricing transaction only. The Term Loan Facility is subject to customary mandatory prepayments, including, commencing with the fiscal year ending June 30, 2023, an excess cash flow sweep, subject to customary step-downs and thresholds.

Debt issuance costs relating to the Term Loan Facility of $11.2 million, netted against the debt amount on the condensed consolidated balance sheet, are amortized as interest expense over 96 months. The total interest expense recorded on the Term Loan Facility during the three and six months ended December 2022 was $7.7 million and $14.2 million, respectively.

Convertible Debt

On June 1, 2021, pursuant to the Indenture, dated as of June 26, 2017 between us and Wells Fargo Bank, National Association, as trustee, or the Convertible Notes Indenture, we provided an irrevocable notice of redemption, for all $525,000,000 aggregate principal amount of our outstanding 0.50% convertible senior notes due in 2022, or the Convertible Notes. The Convertible Notes were redeemable at a cash redemption price of 100.0% of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the redemption date of August 4, 2021.

Holders of the Convertible Notes had the right to convert the Convertible Notes called for redemption no later than August 3, 2021, or the Conversion Deadline. The conversion rate was equal to 13.7267 shares per $1,000 principal amount of the Convertible Notes, which was the initial conversion rate of 13.6947 shares per $1,000 principal amount of the Convertible Notes plus a number of additional shares equal to 0.0320 shares per $1,000 principal amount of the Convertible Notes. We elected to settle any conversions by Combination Settlement (as defined in the Convertible Notes Indenture) with a Specified Dollar Amount (as defined in the Convertible Notes Indenture) per $1,000 principal amount of Convertible Notes equal to $1,000, plus a number of shares of our common stock, to be determined pursuant to the Convertible Notes Indenture, together with additional cash, if applicable, in lieu of delivering any fractional shares of common stock. As a result of this election, on August 4, 2021, we settled or redeemed the remaining outstanding Convertible Notes for $505.6 million in cash representing the principal amount outstanding and delivered approximately 3.5 million shares in common stock from our treasury stock for additional amounts, resulting in a loss of approximately $8.1 million which is included in Interest and other expense, net, on our condensed consolidated statements of income included elsewhere in this report.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Share-Based Compensation

6 Months Ended

Dec. 24, 2022

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

13. Share-Based Compensation

Share-based compensation and the related tax benefit recognized in our condensed consolidated statements of income were as follows (in millions):


	Three Months Ended						Six Months Ended
	December						December
	2022			2021			2022			2021
Cost of revenue	$	1.0		$	1.3		$	2.1		$	2.3
Research and development		13.4			18.6			27.4			39.4
Selling, general, and administrative		15.6			16.7			33.1			30.5
Total	$	30.0		$	36.6		$	62.6		$	72.2
Income tax benefit on share-based compensation	$	(4.1	)	$	(11.4	)	$	(7.9	)	$	(16.7	)

Included in the preceding table is share-based compensation for our cash-settled phantom stock units, which we granted in October 2019 (see Phantom Stock Units below) (in millions):


	Three Months Ended					Six Months Ended
	December					December
	2022			2021		2022		2021
Cost of revenue	$	—		$	0.1	$	-	$	0.1
Research and development		(1.2	)		8.4		0.3		20.2
Selling, general, and administrative		(0.2	)		1.7		0.4		4.3
Total	$	(1.4	)	$	10.2	$	0.7	$	24.6

Historically, we have issued new shares in connection with our equity-settled share-based compensation plans, however, treasury shares are also available for issuance. Any additional shares repurchased under our common stock repurchase program will be available for issuance under our share-based compensation plans.

Share-Based Compensation Plans

On October 29, 2019, our stockholders approved: (i) our 2019 Equity and Incentive Compensation Plan, or the 2019 Incentive Plan, to replace our Amended and Restated 2010 Incentive Compensation Plan, or the 2010 Incentive Plan, and (ii) our 2019

Employee Stock Purchase Plan, or the 2019 ESPP, to replace our Amended and Restated 2010 Employee Stock Purchase Plan. As of October 29, 2019, no new awards may be granted under the 2010 Incentive Plan or the Amended and Restated 2010 Employee Stock Purchase Plan. Awards outstanding at October 29, 2019 under our prior share-based compensation plans were not impacted by the approval of the 2019 Incentive Plan and continue to remain outstanding and vest by their terms under the applicable share-based compensation plan. Shares underlying certain share-based awards forfeited under the 2010 Incentive Plan subsequent to the approval of the 2019 Incentive Plan automatically transfer to and become available for award issuance from the 2019 Incentive Plan.

The 2019 Incentive Plan authorizes our Board of Directors to provide equity-based compensation in the form of stock options, stock appreciation rights, restricted stock, RSUs, cash incentive awards, performance shares, PSUs, and other stock-based awards. The 2019 Incentive Plan has been amended and restated, and the cumulative number of shares approved by stockholders is 5,288,000 as of October 25, 2022. The 2019 ESPP authorizes the Company to provide eligible employees with an opportunity to acquire an equity interest in the Company through the purchase of stock at a discount, with an initial authorization of 1,500,000 shares.

Effective August 19, 2019, we adopted the 2019 Inducement Equity Plan, and 650,000 shares of our common stock were reserved for issuance under the 2019 Inducement Equity Plan, subject to adjustment for stock dividends, stock splits, or other changes in our common stock or capital structure. The 2019 Inducement Equity Plan was intended to comply with Rule 5635(c)(4) of the Nasdaq Stock Market Listing Rules, which provide an exception to the Nasdaq Stock Market Listing Rules on the shareholder approval requirement for the issuance of securities with regards to grants to employees of the Company or its subsidiaries as an inducement material to such individuals entering into employment with the Company or its subsidiaries. An individual was eligible to receive an award under the 2019 Inducement Equity Plan only if he or she was not previously an employee or director of our Company (or is returning to work after a bona-fide period of non-employment), and an award under the 2019 Inducement Equity Plan is a material inducement for him or her to accept employment with our Company. No new awards may be granted under the 2019 Inducement Equity Plan.

Stock Options

Stock option activity was as follows:


	Stock			Weighted		Aggregate
	Option			Average		Intrinsic
	Awards			Exercise		Value
	Outstanding			Price		(in millions)
Balance as of June 2022		31,185		$	61.51
Exercised		(7,019	)		81.50
Expired		(299	)		89.30
Balance as of December 2022		23,867			55.30	$	0.9

The aggregate intrinsic value was determined using the closing price of our common stock on December 23, 2022 of $94.15.

Restricted Stock Units

Our 2019 Incentive Plan provides for the grant of RSUs to our employees, consultants, and directors with initial grants occurring in 2019, and previously our 2019 Inducement Equity Plan and our 2010 Incentive Plan provided for the grant of deferred stock units, or DSUs, to our employees, consultants, and directors with initial grants occurring in 2006. An RSU and a DSU are each a promise to deliver shares of our common stock at a future date in accordance with the terms of the grant agreement and the words can be used interchangeably. Accordingly, any reference to RSU is intended to signify both an RSU and a DSU.

RSUs granted generally vest ratably over three to four years from the vesting commencement date.

RSU activity was as follows:


				Aggregate
	RSU			Intrinsic
	Awards			Value
	Outstanding			(in millions)
Balance as of June 2022		1,220,573
Granted		717,776
Delivered		(484,856	)
Forfeited		(52,122	)
Balance as of December 2022		1,401,371		$	131.9

The aggregate intrinsic value was determined using the closing price of our common stock on December 23, 2022 of $94.15.

On the delivery date, we withhold shares to cover statutory tax withholding requirements and deliver a net quantity of shares to the recipient after such withholding. Until delivery of shares, the grantee has no rights as a stockholder with respect to any shares underlying the RSU award. Of the shares delivered, 146,614 shares valued at $17.7 million were withheld to meet statutory tax withholding requirements.

Market Stock Units

Our 2019 Incentive Plan, and previously our 2019 Inducement Equity Plan provide for the grant of MSU awards to our employees, consultants, and directors. An MSU is a promise to deliver shares of our common stock at a future date based on the achievement of market-based performance requirements in accordance with the terms of the MSU grant agreement.

We have granted MSU awards to our executive officers and other management members under our 2010 Incentive Plan, our 2019 Incentive Plan and our 2019 Inducement Equity Plan, which are designed to vest in three or four tranches with the target quantity for each tranche equal to one-third or one-fourth of the total MSU grant. The first tranche vests based on a one-year performance period; the second tranche vests based on a two-year performance period; the third tranche vests based on a three-year performance period; and the fourth tranche (in the case of four-year vesting) vests based on a four-year performance period.

For MSU awards granted in fiscal 2023, performance is measured based on our achievement of a specified level of total stockholder return, or TSR, relative to the TSRs of each company in the Russell 2000 Index. The potential payout ranges from 0% to 300% of the target grant quantity based on our TSR performance relative to the TSRs of each company in the Russell 2000 Index. No payout will occur if our TSR performance falls below the 25th percentile of the TSRs of each company in the Russell 2000 Index, and a 300% payout will occur if our TSR performance exceeds the 80th percentile of the TSRs of each company in the Russell 2000 Index. Performance payouts between the 25th and 80th percentiles will be determined on a linear basis with performance at the 50th percentile equal to 100% of target. The first tranche and the second tranche can payout up to 300%, and the payout for the third tranche will be calculated based on the total target quantity for the entire grant multiplied by the payout factor, based on performance for the three-year performance period, less shares issued for the first tranche and the second tranche.

For MSU awards granted in fiscal 2022 and 2021, performance is measured based on our achievement of a specified level of total stockholder return, or TSR, relative to the TSRs of each company in the Russell 2000 Index. The potential payout ranges from 0% to 200% of the target grant quantity based on our TSR performance relative to the TSRs of each company in the Russell 2000 Index. No payout will occur if our TSR performance falls below the 25th percentile of the TSRs of each company in the Russell 2000 Index, and a 200% payout will occur if our TSR performance exceeds the 75th percentile of the TSRs of each company in the Russell 2000 Index. Performance payouts between the 25th and 75th percentiles will be determined on a linear basis with performance at the 50th percentile equal to 100% of target. The first tranche and the second tranche can payout up to 200%, and the payout for the third tranche will be calculated based on the total target quantity for the entire grant multiplied by the payout factor, based on performance for the three-year performance period, less shares issued for the first tranche and the second tranche.

For outstanding MSU awards granted prior to fiscal 2021, performance is measured based on our achievement of a specified level of TSR relative to the TSR of the S&P Semiconductor Select Industry Index, or SPSISC Index. The potential payout ranges from 0% to 200% of the target grant quantity and is adjusted on a two-to-one ratio based on our TSR performance relative to SPSISC Index TSR. For MSU awards vesting over three years, the payout for the first tranche and the second tranche will not exceed 100% and the payout for the third tranche will be calculated based on the total target quantity for the entire grant multiplied by the payout factor, based on performance for the three-year performance period, less shares issued for the first tranche and the second tranche. For MSUs vesting over four years, the payout for the first tranche, the second tranche and the third tranche will not exceed 100% and the payout for the fourth tranche will be calculated based on the total target quantity for the entire grant multiplied by the payout factor, based on performance for the four-year performance period, less shares issued for the first tranche, the second tranche and the third tranche.

Delivery of shares earned, if any, will take place on the dates provided in the applicable MSU grant agreement, assuming the grantee is still an employee, consultant, or director of our company at the end of the applicable performance period. On the delivery date, we withhold shares to cover statutory tax withholding requirements and deliver a net quantity of shares to the recipient after such withholding. Until delivery of shares, the grantee has no rights as a stockholder with respect to any shares underlying the MSU award.

MSU activity was as follows:


				Aggregate
	MSU			Intrinsic
	Awards			Value
	Outstanding			(in millions)
Balance as of June 2022		251,974
Granted		270,342
Delivered		(304,334	)
Balance as of December 2022		217,982		$	20.5

The aggregate intrinsic value was determined using the closing price of our common stock on December 23, 2022 of $94.15.

On the delivery date, we withhold shares to cover statutory tax withholding requirements and deliver a net quantity of shares to the recipient after such withholding. Until delivery of shares, the grantee has no rights as a stockholder with respect to any shares underlying the MSU award. Of the shares delivered, 159,379 shares valued at $18.5 million were withheld to meet statutory tax withholding requirements.

We value MSUs using the Monte Carlo simulation model on the date of grant and amortize the compensation expense over the three- or four-year performance and service period on a ratable basis by tranche. The unrecognized share-based compensation cost of our outstanding MSUs was approximately $33.5 million as of December 2022, which will be recognized over a weighted average period of approximately 1.2 years.

Performance Stock Units

Our 2019 Incentive Plan, our 2010 Incentive Plan and our 2019 Inducement Equity Plan provide for the grant of PSU awards to our employees, consultants, and directors. A PSU is a promise to deliver shares of our common stock at a future date based on the achievement of performance-based requirements in accordance with the terms of the PSU grant agreement.

We have granted PSU awards to our executive officers and other key management team members under our 2010 Incentive Plan, our 2019 Incentive Plan and our 2019 Inducement Equity Plan, which, generally, are designed to vest in three tranches with the target quantity for each tranche equal to one-third of the total PSU award. Generally, PSU awards have a specific one-year performance period and vesting occurs over three service periods with the final service period ending approximately three years from the grant date. Performance is measured based on the achievement of a specified level of performance relative to predefined performance criteria (for PSU awards granted in fiscal 2023 and prior to fiscal 2022 the performance criteria is based on non-GAAP earnings per share, for PSU awards granted in fiscal 2021 the performance criteria is based on a combination of our design win revenue, non-GAAP gross margin percentage and non-GAAP operating expenses). For our fiscal 2023 PSU awards, the potential payout ranges from 0% to 200% of the target grant quantity and is adjusted on a linear basis with a payout triggering if our measurement results equals greater than 65% of the target with a maximum payout achieved at 135% of target.

Delivery of shares earned, if any, will take place on the dates provided in the applicable PSU grant agreement, assuming the grantee is still an employee, consultant, or director of our company at the end of the applicable service period. On the delivery date, we withhold shares to cover statutory tax withholding requirements and deliver a net quantity of shares to the recipient after such withholding. Until delivery of shares, the grantee has no rights as a stockholder with respect to any shares underlying the PSU award.

PSU activity was as follows:


				Aggregate
	PSU			Intrinsic
	Awards			Value
	Outstanding			(in millions)
Balance as of June 2022		257,903
Awarded		265,446
Released		(250,118	)
Forfeited		(5,359	)
Balance as of December 2022		267,872		$	25.2

The aggregate intrinsic value was determined using the closing price of our common stock on December 23, 2022 of $94.15.

On the delivery date, we withhold shares to cover statutory tax withholding requirements and deliver a net quantity of shares to the recipient after such withholding. Until delivery of shares, the grantee has no rights as a stockholder with respect to any shares underlying the PSU award. Of the shares delivered, 114,859 shares valued at $12.9 million were withheld to meet statutory tax withholding requirements.

We value PSUs using the aggregate intrinsic value on the date of grant adjusted for estimated performance achievement during the performance period and amortize the compensation expense over the three-year service period on a ratable basis. The unrecognized share-based compensation cost of our outstanding PSUs was approximately $46.4 million as of December 2022, which will be recognized over a weighted average period of approximately 1.1 years.

Phantom Stock Units

The 2019 Incentive Plan authorizes the grant of phantom stock units to non-employee directors, officers and employees. We initially granted phantom stock units to certain non-officer employees in October 2019 and there have been no subsequent phantom stock unit grants. Phantom stock units are cash-settled and entitle the recipient to receive a cash payment equal to the value of a single share for each unit based on the average closing share price of our stock over the thirty calendar days prior to the vesting date. Grants of phantom stock units vest over three years, with an annual vesting date of October 31 each year subsequent to the grant date. The final vesting occurred on October 31, 2022, and no phantom stock units remain outstanding under this plan.

Phantom stock activity was as follows:



	Phantom
	Stock Units
	Outstanding
Balance as of June 2022		176,097
Paid		(173,436	)
Forfeited		(2,661	)
Balance as of December 2022		-

Employee Stock Purchase Plan

Shares purchased, weighted average purchase price, cash received, and the aggregate intrinsic value for employee stock purchase plan purchases during the three and six months ended December 2022 were as follows (in millions, except for shares purchased and weighted average price):


Shares purchased		88,210
Weighted average purchase price	$	92.52
Cash received	$	9.6
Aggregate intrinsic value	$	1.4

Income Taxes

6 Months Ended

Dec. 24, 2022

Income Tax Disclosure [Abstract]

Income Taxes

14. Income Taxes

We account for income taxes under the asset and liability method. The provision for income taxes recorded in interim periods is based on our estimate of the annual effective tax rate applied to year-to-date income before provision for income taxes, adjusted for discrete items required to be recognized in the period in which they are incurred. In each quarter, we update our estimate of the annual effective tax rate, and if the estimated annual tax rate changes, we make a cumulative adjustment in that quarter. Our quarterly tax provision and our quarterly estimate of the annual effective tax rate can be subject to volatility due to several factors, including our ability to accurately forecast annual income before provision for income taxes in each of the tax jurisdictions in which we operate.

The provision for income taxes of $17.4 million and $56.5 million for the three and six months ended December 2022, respectively, represented estimated federal, foreign, and state income taxes. The effective tax rate for the three and six months ended December 2022 diverged from the combined U.S. federal and state statutory tax rate primarily due to the impact of tax law changes becoming effective in our fiscal 2023, including non-creditable foreign withholding taxes resulting from the final foreign tax credit regulations published in January 2022 and the research and development capitalization rules increasing our global intangible low-taxed income, or GILTI, resulting from the U.S. Tax Cuts and Jobs Act of 2017, and non-deductible officer compensation, partially offset by the benefit of foreign income taxed at lower rates, and research credits.

The provision for income taxes of $2.0 million and $7.9 million for the three and six months ended December 2021, respectively, represented estimated federal, foreign, and state income taxes. The effective tax rate for the three and six months ended December 2021, diverged from the combined U.S. federal and state statutory tax rate, primarily due to foreign income taxed at lower rates, the benefit of research credits and foreign tax credits, partially offset by foreign withholding taxes, non-deductible officer compensation, non-deductible stock-based compensation, and GILTI.

The total liability for gross unrecognized tax benefits related to uncertain tax positions increased $21.4 million during the six months ended December 2022, to $51.2 million, and was included in other long-term liabilities on our condensed consolidated balance sheets. If recognized, the total gross unrecognized tax benefits would reduce the effective tax rate on income from continuing operations. Accrued interest and penalties related to unrecognized tax benefits as of December 2022 were $2.7 million; this balance increased by $0.2 million compared to June 2022. We classify interest and penalties as components of income tax expense. Any prospective adjustments to our unrecognized tax benefits will be recorded as an increase or decrease to income tax expense and cause a corresponding change to our effective tax rate. Accordingly, our effective tax rate could fluctuate materially from period to period.

Our major tax jurisdictions are the United States, Hong Kong SAR, Israel, Japan and the United Kingdom. From fiscal 2016 onward, we remain subject to examination by one or more of these jurisdictions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 740
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-Paragraph 2
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Segment, Customers, and Geographic Information

6 Months Ended

Dec. 24, 2022

Segment Reporting [Abstract]

Segment, Customers, and Geographic Information

15. Segment, Customers, and Geographic Information

We operate in one segment: the development, marketing, and sale of semiconductor products used in electronic devices and products. We generate our revenue from three broad product categories: the IoT product market, the personal computing, or PC, product market, and the Mobile product market. We sell our products to OEMs and to contract manufacturers that provide manufacturing services to OEMs.

Net revenue within geographic areas based on our customers’ locations for the periods presented was as follows (in millions):


	Three Months Ended				Six Months Ended
	December				December
	2022		2021		2022		2021
China	$	131.7	$	142.1	$	246.2	$	277.2
Taiwan		85.2		127.6		265.9		247.1
Japan		90.8		119.5		197.1		211.1
Other		32.3		16.8		68.9		33.3
South Korea		11.5		10.7		17.1		18.9
United States		1.6		3.8		6.0		5.6
	$	353.1	$	420.5	$	801.2	$	793.2

Net revenue from our customers for each product category was as follows (in millions):


	Three Months Ended				Six Months Ended
	December				December
	2022		2021		2022		2021
IoT product applications	$	239.3	$	261.5	$	582.0	$	467.2
PC product applications		56.5		82.7		121.7		171.3
Mobile product applications		57.3		76.3		97.5		154.7
	$	353.1	$	420.5	$	801.2	$	793.2

Net revenue from major customers as a percentage of total net revenue for the periods presented was as follows:


	Three Months Ended		Six Months Ended
	December		December
	2022	2021	2022	2021
Customer A	11%	13%	10%	12%
Customer B	*	12%	10%	12%

____________________

* Less than 10%

We extend credit based on evaluation of a customer’s financial condition, and we generally do not require collateral. Major customer accounts receivable as a percentage of total accounts receivable were as follows:


	December	June
	2022	2022

Customer A	16%	17%
Customer B	14%	15%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Comprehensive Income

6 Months Ended

Dec. 24, 2022

Equity [Abstract]

Comprehensive Income

16. Comprehensive Income

Our comprehensive income generally consists of unrealized gains or losses on our available-for-sale securities. We recognize foreign currency remeasurement adjustments and foreign currency transaction gains and losses in our condensed consolidated statements of income as the U.S. dollar is the functional currency of our foreign entities.

Restructuring Activities

6 Months Ended

Dec. 24, 2022

Restructuring and Related Activities [Abstract]

Restructuring Activities

In prior years, we initiated various strategic restructuring actions primarily intended to reduce costs, gain synergies from our recent acquisitions and align our business in response to market conditions. Restructuring charges were mainly comprised of severance and other one-time termination benefits and were complete by the end of fiscal year 2022. We recorded restructuring related charges of $5.1 million and $6.5 million for the three and six months ended December 2021, respectively. We did not incur any restructuring related charges during the first half of fiscal year 2023.

Basis of Presentation (Policies)	6 Months Ended
Basis of Presentation (Policies)	Dec. 24, 2022
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, allowance for doubtful accounts, cost of revenue, inventories, loss on purchase commitments, product warranty, accrued liabilities, share-based compensation costs, provision for income taxes, deferred income tax asset valuation allowances, uncertain tax positions, goodwill, intangible assets, investments and loss contingencies. We base our estimates on historical experience, applicable laws and regulations, and various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
Business Combinations	Business Combinations On October 25, 2022, we acquired all of the outstanding shares of Emza Visual Sense Ltd., or Emza. Our condensed consolidated financial statements include the operating results of Emza for the period from the date of the closing of the acquisition through the second quarter of fiscal year 2023. We have applied the acquisition method of accounting in accordance with ASC 805 Business Combinations to account for this transaction. Refer to “Note 4. Acquisitions” for further discussion of the transaction.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncement Pending Adoption In October 2021, the FASB issued ASU 2021-08, “Business Combinations (Topic 805): Accounting for Acquired Contract Assets and Contract Liabilities” which improves comparability for both the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination by providing consistent recognition guidance. This standard is effective for fiscal years beginning after December 15, 2022. Early adoption is permitted, including in an interim period, for any period for which financial statements have not yet been issued. However, adoption in an interim period other than the first fiscal quarter requires an entity to apply the new guidance to all prior business combinations that have occurred since the beginning of the annual period in which the new guidance is adopted. We are currently evaluating the timing of adoption and impact, if any, of this new standard on our consolidated financial statements.

Net Income Per Share (Tables)

6 Months Ended

Dec. 24, 2022

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Income Per Share

The computation of basic and diluted net income per share was as follows (in millions, except per share data):


	Three Months Ended				Six Months Ended
	December				December
	2022		2021		2022		2021
Numerator:
Net income	$	22.0	$	69.5	$	86.6	$	109.7
Denominator:
Shares, basic		39.8		39.4		39.8		38.5
Effect of dilutive share-based awards and convertible notes		0.4		1.3		0.7		2.2
Shares, diluted		40.2		40.7		40.5		40.7
Net income per share:
Basic	$	0.55	$	1.76	$	2.18	$	2.85
Diluted	$	0.55	$	1.71	$	2.14	$	2.70

Inventories (Tables)

6 Months Ended

Dec. 24, 2022

Inventory Disclosure [Abstract]

Inventories

Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value and consisted of the following (in millions):


	December		June
	2022		2022
Raw materials and work-in-progress	$	84.1	$	92.2
Finished goods		93.4		77.5
	$	177.5	$	169.7

Cash, Cash Equivalents and Short-Term Investments (Tables)

6 Months Ended

Dec. 24, 2022

Cash, Cash Equivalents, and Short-Term Investments [Abstract]

Schedule of cash, cash equivalents and short-term investments

The following table summarizes our cash, cash equivalents and short-term investments by category at December 2022 and June 2022 (in millions):


	December 2022
	Amortized Cost		Gross unrealized gain (loss)			Fair Value
Cash	$	321.4	$	-		$	321.4
Cash equivalents:
Money market funds		440.0		-			440.0
Certificates of deposit		57.4		-			57.4
Total cash and cash equivalents	$	818.8	$	-		$	818.8
Short-term investments:
Certificates of deposit	$	1.1	$	-		$	1.1
Corporate debt securities		35.8		(1.6	)		34.2
Municipal bonds		4.9		(0.1	)		4.8
Total short-term investments	$	41.8	$	(1.7	)	$	40.1


	June 2022
	Amortized Cost		Gross unrealized gain (loss)			Fair Value
Cash	$	811.9	$	-		$	811.9
Cash equivalents:
Money market funds		12.1		-			12.1
Total cash and cash equivalents	$	824.0	$	-		$	824.0
Short-term investments:
Certificates of deposit	$	2.4	$	-		$	2.4
Corporate debt securities		43.7		(1.9	)		41.8
Municipal bonds		7.9		(0.1	)		7.8
Total short-term investments	$	54.0	$	(2.0	)	$	52.0

Schedule of classified by contractual maturity date

The following table classifies our short-term investments by contractual maturities (in millions):


	December 2022				June 2022
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within 1 year	$	18.5	$	18.2	$	21.0	$	20.4
Due between 1 year to 5 years		23.3		21.9		33.0		31.6
	$	41.8	$	40.1	$	54.0	$	52.0

Fair Value Measurements (Tables)

6 Months Ended

Dec. 24, 2022

Fair Value Disclosures [Abstract]

Schedule of financial assets measured at fair value on a recurring basis

At December 2022 and June 2022, financial assets measured at fair value on a recurring basis are summarized below (in millions):


	December 2022
	Level 1		Level 2		Level 3		Total (1)
Assets:
Cash equivalents:
Money market funds	$	440.0	$	-	$	-	$	440.0
Certificates of deposit		-		57.4		-		57.4
Short-term investments:
Certificates of deposit		-		1.1		-		1.1
Corporate debt securities		-		34.2		-		34.2
Municipal bonds		-		4.8		-		4.8
Total assets	$	440.0	$	97.5	$	-	$	537.5

(1) Excludes $321.5 million in cash held in our bank accounts as of December 2022.


	June 2022
	Level 1		Level 2		Level 3		Total (1)
Assets:
Cash equivalents:
Money market funds	$	12.1	$	-	$	-	$	12.1
Short-term investments:
Certificates of deposit		-		2.4		-		2.4
Corporate debt securities		-		41.8		-		41.8
Municipal bonds		-		7.8		-		7.8
Total assets	$	12.1	$	52.0	$	-	$	64.1

(1) Excludes $811.9 million in cash held in our bank accounts as of June 2022.

Schedule of carrying amounts and estimated fair values of the Senior Notes and Term Debt

The carrying amounts and estimated fair values of the Senior Notes and Term Loan Facility are as follows for the periods presented (in millions):


	December 2022				June 2022
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Senior Notes due 2029	$	395.3	$	339.0	$	395.0	$	326.9
Term Loan Facility due 2028		584.6		574.0		586.7	$	575.0
	$	979.9	$	913.0	$	981.7	$	901.9

Acquired Intangibles and Goodwill (Tables)

6 Months Ended

Dec. 24, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table represents the change in our goodwill balance for the six and twelve month periods ended December 2022 and June 2022, respectively (in millions):


	December 2022		June 2022
Beginning balance	$	806.6	$	570.0
Acquisition activity		9.8		236.6
Ending balance	$	816.4	$	806.6

Summary of Life, Gross Carrying Value of Acquired Intangible Assets, and Related Accumulated Amortization

The following table summarizes the life, the gross carrying value and the related accumulated amortization of our acquired intangible assets (in millions):


			December 2022							June 2022
	Weighted Average Life in Years		Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Audio and video technology		5.6	$	231.9	$	(130.3	)	$	101.6	$	232.1	$	(109.3	)	$	122.8
Customer relationships		4.1		158.2		(101.4	)		56.8		170.5		(99.7	)		70.8
Wireless connectivity technology		5.7		128.0		(45.0	)		83.0		128.0		(33.8	)		94.2
Video interface technology		3.0		82.0		(66.0	)		16.0		82.0		(52.4	)		29.6
Human presence detection technology		5.0		5.2		(0.2	)		5.0		—		—			—
Licensed technology and other		4.4		10.8		(8.5	)		2.3		9.9		(7.5	)		2.4
Patents		8.0		4.4		(4.0	)		0.4		4.4		(3.7	)		0.7
Tradename		4.4		5.8		(4.2	)		1.6		5.8		(3.3	)		2.5
In process research and development	Not applicable			67.0		—			67.0		67.0		—			67.0
Acquired intangibles totals		4.9	$	693.3	$	(359.6	)	$	333.7	$	699.7	$	(309.7	)	$	390.0

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Leases (Tables)

6 Months Ended

Dec. 24, 2022

Leases [Abstract]

Schedule of Components of Leases

As of December 2022 and June 2022, the components of leases are as follows (in millions):


	December		June
	2022		2022
Operating lease right-of-use assets	$	53.0	$	61.2
Operating lease liabilities	$	7.8	$	7.6
Operating lease liabilities, long-term		45.3		51.5
Total operating lease liabilities	$	53.1	$	59.1

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases, including from acquisitions, is as follows (in millions):


	Six Months Ended
	December
	2022		2021
Cash paid for operating leases included in operating cash flows	$	6.2	$	5.4
Supplemental non-cash information related to lease liabilities arising from obtaining right-of-use assets	$	6.7	$	17.6

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum lease payments for the operating lease liabilities are as follows (in millions):


	Operating
	Lease
Fiscal Year	Payments
Remainder of 2023	$	2.5
2024		11.2
2025		9.8
2026		8.3
2027		7.3
Thereafter		26.0
Total future minimum operating lease payments		65.1
Less: interest		(12.0	)
Total lease liabilities	$	53.1

Balance Sheet Components (Tables)

6 Months Ended

Dec. 24, 2022

Payables and Accruals [Abstract]

Schedule of Other Accrued Liabilities

Other accrued liabilities consisted of the following (in millions):


	December		June
	2022		2022
Customer obligations	$	68.3	$	88.6
Inventory obligations		8.6		14.1
Operating lease liabilities		7.8		7.6
Other		28.4		35.0
	$	113.1	$	145.3

Schedule of Other Long-Term Liabilities

Other long-term liabilities consisted of the following (in millions):


	December		June
	2022		2022
Operating lease liabilities, long-term	$	45.3	$	51.5
Deferred tax liability		48.1		52.6
Income taxes payable, long-term		41.2		29.1
Other		17.1		19.4
	$	151.7	$	152.6

Schedule of Accounts Receivable, Net

Accounts receivable, net, consisted of the following (in millions):


	December			June
	2022			2022
Accounts receivable	$	261.1		$	328.1
Less: Allowance for doubtful accounts		(6.1	)		(6.0	)
	$	255.0		$	322.1

Debt (Tables)

6 Months Ended

Dec. 24, 2022

Debt Disclosure [Abstract]

Schedule Of Redemption Prices And Unpaid Interest

we may redeem some or all of the Senior Notes at the redemption prices specified below, plus accrued and unpaid interest, if any, up to, but excluding, the redemption date:


Year	Price
2024		102	%
2025		101	%
2026 and thereafter		100	%

Share-Based Compensation (Tables)

6 Months Ended

Dec. 24, 2022

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share-Based Compensation, Cash-Based Awards and Related Tax Benefit Recognized in Condensed Consolidated Statements of Operations

Share-based compensation and the related tax benefit recognized in our condensed consolidated statements of income were as follows (in millions):


	Three Months Ended						Six Months Ended
	December						December
	2022			2021			2022			2021
Cost of revenue	$	1.0		$	1.3		$	2.1		$	2.3
Research and development		13.4			18.6			27.4			39.4
Selling, general, and administrative		15.6			16.7			33.1			30.5
Total	$	30.0		$	36.6		$	62.6		$	72.2
Income tax benefit on share-based compensation	$	(4.1	)	$	(11.4	)	$	(7.9	)	$	(16.7	)

Schedule of Stock Option Activity

Stock option activity was as follows:


	Stock			Weighted		Aggregate
	Option			Average		Intrinsic
	Awards			Exercise		Value
	Outstanding			Price		(in millions)
Balance as of June 2022		31,185		$	61.51
Exercised		(7,019	)		81.50
Expired		(299	)		89.30
Balance as of December 2022		23,867			55.30	$	0.9

Shares Purchased, Weighted Average Purchase Price, Cash Received, and Aggregate Intrinsic Value for ESPP


Shares purchased		88,210
Weighted average purchase price	$	92.52
Cash received	$	9.6
Aggregate intrinsic value	$	1.4

Phantom Stock Unit [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share-Based Compensation, Cash-Based Awards and Related Tax Benefit Recognized in Condensed Consolidated Statements of Operations

Included in the preceding table is share-based compensation for our cash-settled phantom stock units, which we granted in October 2019 (see Phantom Stock Units below) (in millions):


	Three Months Ended					Six Months Ended
	December					December
	2022			2021		2022		2021
Cost of revenue	$	—		$	0.1	$	-	$	0.1
Research and development		(1.2	)		8.4		0.3		20.2
Selling, general, and administrative		(0.2	)		1.7		0.4		4.3
Total	$	(1.4	)	$	10.2	$	0.7	$	24.6

Schedule of Stock Units Activity

Phantom stock activity was as follows:



	Phantom
	Stock Units
	Outstanding
Balance as of June 2022		176,097
Paid		(173,436	)
Forfeited		(2,661	)
Balance as of December 2022		-

Restricted stock units outstanding [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Stock Units Activity

RSU activity was as follows:


				Aggregate
	RSU			Intrinsic
	Awards			Value
	Outstanding			(in millions)
Balance as of June 2022		1,220,573
Granted		717,776
Delivered		(484,856	)
Forfeited		(52,122	)
Balance as of December 2022		1,401,371		$	131.9

Market stock units outstanding [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Stock Units Activity

MSU activity was as follows:


				Aggregate
	MSU			Intrinsic
	Awards			Value
	Outstanding			(in millions)
Balance as of June 2022		251,974
Granted		270,342
Delivered		(304,334	)
Balance as of December 2022		217,982		$	20.5

Performance stock units outstanding [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Stock Units Activity

PSU activity was as follows:


				Aggregate
	PSU			Intrinsic
	Awards			Value
	Outstanding			(in millions)
Balance as of June 2022		257,903
Awarded		265,446
Released		(250,118	)
Forfeited		(5,359	)
Balance as of December 2022		267,872		$	25.2

Segment, Customers, and Geographic Information (Tables)

6 Months Ended

Dec. 24, 2022

Segment Reporting Information [Line Items]

Net Revenue within Geographic Areas Based on Customers' Locations

Net revenue within geographic areas based on our customers’ locations for the periods presented was as follows (in millions):


	Three Months Ended				Six Months Ended
	December				December
	2022		2021		2022		2021
China	$	131.7	$	142.1	$	246.2	$	277.2
Taiwan		85.2		127.6		265.9		247.1
Japan		90.8		119.5		197.1		211.1
Other		32.3		16.8		68.9		33.3
South Korea		11.5		10.7		17.1		18.9
United States		1.6		3.8		6.0		5.6
	$	353.1	$	420.5	$	801.2	$	793.2

Net Revenue from Customers

Net revenue from our customers for each product category was as follows (in millions):


	Three Months Ended				Six Months Ended
	December				December
	2022		2021		2022		2021
IoT product applications	$	239.3	$	261.5	$	582.0	$	467.2
PC product applications		56.5		82.7		121.7		171.3
Mobile product applications		57.3		76.3		97.5		154.7
	$	353.1	$	420.5	$	801.2	$	793.2

Sales Revenue, Net [Member]

Segment Reporting Information [Line Items]

Major Customers as Percentage of Net Revenue

Net revenue from major customers as a percentage of total net revenue for the periods presented was as follows:


	Three Months Ended		Six Months Ended
	December		December
	2022	2021	2022	2021
Customer A	11%	13%	10%	12%
Customer B	*	12%	10%	12%

____________________

* Less than 10%

Accounts Receivable [Member]

Segment Reporting Information [Line Items]

Major Customers as Percentage of Net Revenue

Major customer accounts receivable as a percentage of total accounts receivable were as follows:


	December	June
	2022	2022

Customer A	16%	17%
Customer B	14%	15%

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Dec. 24, 2022	Dec. 25, 2021	Jun. 25, 2022
Revenue Recognition, Milestone Method [Line Items]
Account receivable bad debt	$ 0.0
Contract asset	1.3		$ 1.2
Contract liability	27.3		27.3
Refund liability	40.8		$ 61.3
Revenue recognized related to contract liabilities	$ 2.8	$ 3.3

Net Income Per Share - Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Dec. 24, 2022	Sep. 24, 2022	Dec. 25, 2021	Sep. 25, 2021	Dec. 24, 2022	Dec. 25, 2021
Numerator:
Net income	$ 22.0	$ 64.6	$ 69.5	$ 40.2	$ 86.6	$ 109.7
Denominator:
Shares, basic	39.8		39.4		39.8	38.5
Effect of dilutive share-based awards and convertible notes	0.4		1.3		0.7	2.2
Diluted	40.2		40.7		40.5	40.7
Net income per share:
Basic	$ 0.55		$ 1.76		$ 2.18	$ 2.85
Diluted	$ 0.55		$ 1.71		$ 2.14	$ 2.70

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Net Income Per Share - Additional Information (Detail) - $ / shares	3 Months Ended		6 Months Ended
	Dec. 24, 2022	Dec. 25, 2021	Dec. 24, 2022	Dec. 25, 2021	Sep. 24, 2022	Jun. 25, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, par value	$ 0.001		$ 0.001		$ 0.001	$ 0.001
Common shares that were not included in computation of diluted net income (loss) per share	1,092,428	12,987	640,047	10,209

Fair Value Measurements - Schedule of financial assets measured at fair value on a recurring basis (Detail) - Estimate of Fair Value Measurement [Member] - USD ($)
$ in Millions

Dec. 24, 2022

Jun. 25, 2022

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total assets at fair value

$ 537.5

^[1]

$ 64.1

^[2]

Municipal bonds [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Short-term investments

4.8

^[1]

7.8

^[2]

Corporate debt securities [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Short-term investments

34.2

^[1]

41.8

^[2]

Money Market Funds [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Cash equivalents

440.0

^[1]

12.1

^[2]

Certificates of deposit [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Cash equivalents

^[1]

57.4

Short-term investments

1.1

^[1]

2.4

^[2]

Level 1 Member

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total assets at fair value

440.0

12.1

Level 1 Member | Municipal bonds [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Short-term investments

0.0

Level 1 Member | Corporate debt securities [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Short-term investments

0.0

Level 1 Member | Money Market Funds [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Cash equivalents

440.0

12.1

Level 1 Member | Certificates of deposit [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Cash equivalents

0.0

Short-term investments

0.0

Level 2 Member

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total assets at fair value

97.5

52.0

Level 2 Member | Municipal bonds [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Short-term investments

4.8

7.8

Level 2 Member | Corporate debt securities [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Short-term investments

34.2

41.8

Level 2 Member | Money Market Funds [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Cash equivalents

0.0

Level 2 Member | Certificates of deposit [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Cash equivalents

57.4

Short-term investments

1.1

2.4

Level 3 Member

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Total assets at fair value

0.0

Level 3 Member | Municipal bonds [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Short-term investments

0.0

Level 3 Member | Corporate debt securities [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Short-term investments

0.0

Level 3 Member | Money Market Funds [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Cash equivalents

0.0

Level 3 Member | Certificates of deposit [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Cash equivalents

0.0

Short-term investments

$ 0.0

[1]	Excludes $321.5 million in cash held in our bank accounts as of December 2022
[2]	Excludes $811.9 million in cash held in our bank accounts as of June 2022.

Fair Value Measurements - Schedule of financial assets measured at fair value on a recurring basis (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 24, 2022	Jun. 25, 2022
Fair Value Disclosures [Abstract]
Cash held in bank	$ 321.5	$ 811.9

Fair Value Measurements - Schedule of carrying amounts and estimated fair values of the Senior Notes (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 25, 2022	Dec. 24, 2022	Dec. 02, 2021
Debt Instrument [Line Items]
Carrying Amount			$ 600.0
Estimated Fair Value	$ 52.0	$ 40.1
Level 2 Member
Debt Instrument [Line Items]
Carrying Amount	981.7	979.9
Estimated Fair Value	901.9	913.0
Senior Notes [Member] \| Level 2 Member
Debt Instrument [Line Items]
Carrying Amount	395.0	395.3
Estimated Fair Value	$ 326.9	$ 339.0
Debt due date	2029	2029
Term Loan [Member] \| Level 2 Member
Debt Instrument [Line Items]
Carrying Amount	$ 586.7	$ 584.6
Estimated Fair Value	$ 575.0	$ 574.0
Debt due date	2028	2028

Acquisitions (Additional Information) (Details) - USD ($) $ in Millions	Oct. 25, 2022	Dec. 24, 2022	Jun. 25, 2022	Jun. 25, 2021
Business Acquisition [Line Items]
Goodwill		$ 816.4	$ 806.6	$ 570.0
Emza [Member]
Business Acquisition [Line Items]
Date of acquisition	Oct. 25, 2022
Name of acquired entity	Emza
Description of acquired entity	a developer of ultra-low-power artificial intelligence visual sensing solutions
Business Combination, Consideration Transferred	$ 15.8
Cash acquired	0.3
Intangible assets acquired	8.0
Goodwill	9.8
Net liablilities assumed	$ 2.3

Inventories - Inventories (Detail) - USD ($) $ in Millions	Dec. 24, 2022	Jun. 25, 2022
Inventory Disclosure [Abstract]
Raw materials and work-in-progress	$ 84.1	$ 92.2
Finished goods	93.4	77.5
Total Inventories	$ 177.5	$ 169.7

Cash, Cash Equivalents and Short-Term Investments - Schedule of cash, cash equivalents and short-term investments (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Dec. 24, 2022	Jun. 25, 2022
Cash and Cash Equivalents [Line Items]
Amortized Cost	$ 41.8	$ 54.0
Corporate Debt Securities [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	35.8	43.7
Unrealized Gain (Loss) on Investments	(1.6)	(1.9)
Assets, Fair Value Adjustment	34.2	41.8
Cash [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	321.4	811.9
Unrealized Gain (Loss) on Investments	0.0	0.0
Assets, Fair Value Adjustment	321.4	811.9
Money Market Funds [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	440.0	12.1
Unrealized Gain (Loss) on Investments	0.0	0.0
Assets, Fair Value Adjustment	440.0	12.1
Certificates of Deposit [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	57.4	2.4
Unrealized Gain (Loss) on Investments	0.0	0.0
Assets, Fair Value Adjustment	57.4	2.4
Certificate of Deposit [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	1.1
Municipal Bonds [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	4.9	7.9
Unrealized Gain (Loss) on Investments	(0.1)	(0.1)
Assets, Fair Value Adjustment	4.8	7.8
Cash and Cash Equivalents [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	818.8	824.0
Unrealized Gain (Loss) on Investments	0.0	0.0
Assets, Fair Value Adjustment	818.8	824.0
Short-Term Investments [Member]
Cash and Cash Equivalents [Line Items]
Unrealized Gain (Loss) on Investments	(1.7)	(2.0)
Assets, Fair Value Adjustment	40.1	$ 52.0
Short-Term Investments [Member] \| Certificates of Deposit [Member]
Cash and Cash Equivalents [Line Items]
Unrealized Gain (Loss) on Investments	0.0
Assets, Fair Value Adjustment	$ 1.1

Cash, Cash Equivalents and Short-Term Investments - Schedule of classified by contractual maturity date (Details) - USD ($) $ in Millions	Dec. 24, 2022	Jun. 25, 2022
Cash and Cash Equivalents [Line Items]
Amortized Cost	$ 41.8	$ 54.0
Fair Value	40.1	52.0
Due Within One Year [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	18.5	21.0
Fair Value	18.2	20.4
Due Between One Year to Five Years [Member
Cash and Cash Equivalents [Line Items]
Amortized Cost	23.3	33.0
Fair Value	$ 21.9	$ 31.6

Acquired Intangibles and Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Dec. 24, 2022	Jun. 25, 2022
Finite-Lived Intangible Assets [Line Items]
Beginning balance	$ 806.6	$ 570.0
Acquisition activity	9.8	236.6
Ending balance	$ 816.4	$ 806.6

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Acquired Intangibles and Goodwill - Summary of Life, Gross Carrying Value of Acquired Intangible Assets, and Related Accumulated Amortization (Detail) - USD ($) $ in Millions	6 Months Ended
	Dec. 24, 2022	Jun. 25, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 693.3	$ 699.7
Accumulated Amortization	(359.6)	(309.7)
Net Carrying Value	$ 333.7	390.0
Weighted Average Life in Years	4 years 10 months 24 days
Audio and Video Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 101.6	122.8
Accumulated Amortization	(130.3)	(109.3)
Net Carrying Value	$ 231.9	232.1
Weighted Average Life in Years	5 years 7 months 6 days
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 56.8	70.8
Accumulated Amortization	(101.4)	(99.7)
Net Carrying Value	$ 158.2	170.5
Weighted Average Life in Years	4 years 1 month 6 days
Wireless and Connectivity Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 83.0	94.2
Accumulated Amortization	(45.0)	(33.8)
Net Carrying Value	$ 128.0	128.0
Weighted Average Life in Years	5 years 8 months 12 days
Video Interface Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 16.0	29.6
Accumulated Amortization	(66.0)	(52.4)
Net Carrying Value	$ 82.0	82.0
Weighted Average Life in Years	3 years
Licensed Technology and Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 2.3	2.4
Accumulated Amortization	(8.5)	(7.5)
Net Carrying Value	$ 10.8	9.9
Weighted Average Life in Years	4 years 4 months 24 days
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 0.4	0.7
Accumulated Amortization	(4.0)	(3.7)
Net Carrying Value	$ 4.4	4.4
Weighted Average Life in Years	8 years
Tradename [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 1.6	2.5
Accumulated Amortization	(4.2)	(3.3)
Net Carrying Value	$ 5.8	5.8
Weighted Average Life in Years	4 years 4 months 24 days
In-Process Research and Development [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 67.0	67.0
Net Carrying Value	$ 67.0	$ 67.0

Acquired Intangibles and Goodwill - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 24, 2022	Sep. 25, 2021	Dec. 24, 2022	Dec. 25, 2021
Finite-Lived Intangible Assets [Line Items]
Acquired intangibles amortization	$ 32.2	$ 29.2	$ 65.2	$ 54.4
Cost of Revenue [Member]
Finite-Lived Intangible Assets [Line Items]
Acquired intangibles amortization	$ 23.3	$ 19.9	$ 46.8	$ 36.8

Leases - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Sep. 24, 2022	Dec. 24, 2022	Dec. 25, 2021
Lessee Lease Description [Line Items]
Lease Option to Extend		The leases expire at various dates through fiscal year 2034, some of which include options to extend the lease for up to seven years.
Lease Expiration Year.		2034
Lessee, Operating Lease, Existence of Option to Extend	true
Operating Leases, Expense		$ 6.3	$ 5.7
Operating Lease, Weighted Average Remaining Lease Term		7 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent		5.10%
Maximum
Lessee Lease Description [Line Items]
Duration of Extending leases		7 years

Leases - Schedule of Components of Leases and Lease Costs (Detail) - USD ($) $ in Millions	Dec. 24, 2022	Jun. 25, 2022
Leases [Abstract]
Operating lease right-of-use assets	$ 53.0	$ 61.2
Operating lease liabilities	7.8	7.6
Operating lease liabilities, long-term	$ 45.3	$ 51.5
Operating Lease, Liability	Total lease liabilities	Total lease liabilities
Total lease liabilities	$ 53.1	$ 59.1

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Millions	6 Months Ended
	Dec. 24, 2022	Dec. 25, 2021
Leases [Abstract]
Cash paid for operating leases included in operating cash flows	$ 6.2	$ 5.4
Supplemental non-cash information related to lease liabilities arising from obtaining right-of-use assets	$ 6.7	$ 17.6

Leases - Schedule of Future Minimum Lease Payments for Operating Leases (Detail) - USD ($) $ in Millions	Dec. 24, 2022	Jun. 25, 2022
Leases [Abstract]
Remainder of 2023	$ 2.5
2024	11.2
2025	9.8
2026	8.3
2027	7.3
Thereafter	26.0
Total future minimum operating lease payments	65.1
Less: interest	$ (12.0)
Operating Lease, Liability	Total lease liabilities	Total lease liabilities
Total lease liabilities	$ 53.1	$ 59.1

Balance Sheet Components - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Millions	Dec. 24, 2022	Jun. 25, 2022
Payables and Accruals [Abstract]
Accounts receivable gross	$ 261.1	$ 328.1
Allowance for doubtful accounts	(6.1)	(6.0)
Accounts Receivable, after Allowance for Credit Loss, Current, Total	$ 255.0	$ 322.1

Balance Sheet Components - Schedule of Other Accrued Liabilities (Detail) - USD ($) $ in Millions	Dec. 24, 2022	Jun. 25, 2022
Payables and Accruals [Abstract]
Customer obligations	$ 68.3	$ 88.6
Inventory obligations	8.6	14.1
Operating lease liabilities	7.8	7.6
Other	28.4	35.0
Other accrued liabilities	$ 113.1	$ 145.3

Balance Sheet Components - Schedule of Other Long-Term Liabilities (Detail) - USD ($) $ in Millions	Dec. 24, 2022	Jun. 25, 2022
Payables and Accruals [Abstract]
Operating lease liabilities, long-term	$ 45.3	$ 51.5
Deferred tax liability	48.1	52.6
Income taxes payable, long-term	41.2	29.1
Other	17.1	19.4
Other long-term liabilities	$ 151.7	$ 152.6

Debt - Additional Information (Detail) - USD ($)			3 Months Ended	6 Months Ended
Debt - Additional Information (Detail) - USD ($)	Dec. 02, 2028	Jun. 01, 2021	Dec. 24, 2022	Dec. 24, 2022	Dec. 25, 2021	Sep. 24, 2022	Jun. 25, 2022	Dec. 02, 2021	Mar. 31, 2021	Mar. 11, 2021
Debt Instrument [Line Items]
Carrying Amount								$ 600,000,000.0
Debt instrument interest rate, stated percentage								1.00%
Redemption of Principal amount percentage				100.00%
Debt issuance costs			$ 5,700,000	$ 5,700,000				$ 11,200,000
Interest Expense Long Term Debt			4,000,000.0	8,000,000.0
Interest Expense			$ 7,700,000	$ 14,200,000
Debt instrument maturity date	Dec. 02, 2028
Common stock, par value			$ 0.001	$ 0.001		$ 0.001	$ 0.001
Debt instrument aggregate principal amount								$ 600,000,000.0
Common stock shares issued related to convertible notes			68,459,485	68,459,485			67,745,800
Debt issuance cost					$ 11,200,000
Percentage of voting capital stock				65.00%
Percentage of non-voting capital stock				100.00%
LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument interest rate, stated percentage								2.25%
Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument interest rate, stated percentage								1.50%
4.0% Senior Notes Due 2029 [Member]
Debt Instrument [Line Items]
Carrying Amount										$ 400,000,000.0
Debt instrument interest rate, stated percentage			4.00%	4.00%
Repayment date, description				Prior to June 15, 2024, we may redeem the Senior Notes, in whole or in part, at a redemption price of 100% of the principal amount thereof, plus a make-whole premium set forth in the Indenture, plus accrued and unpaid interest, if any, up to, but excluding, the redemption date.
Redemption of debt in cash, percentage				104.00%
Maturity period				Jun. 15, 2024
Debt instrument aggregate principal amount										$ 400,000,000.0
0.50% Convertible Senior Notes due 2022 [Member]
Debt Instrument [Line Items]
Conversion of notes in multiples of principal amounts				$ 1,000,000,000
Debt instrument convertible number of shares per thousand of principal amount of notes				13.6947
Initial conversion price per share of common stock			$ 0.0320	$ 0.0320
Convertible debt principal amount in multiples				$ 1,000,000,000
Debt instrument convertible number of shares per thousand of principal amount of notes, current				13.7267
Debt Instrument Convertible Number Of Shares Per Thousand Of Principal Amount Of Notes				13.6947
0.50% Convertible Senior Notes due 2022 [Member] \| Convertible Notes Payable [Member]
Debt Instrument [Line Items]
Debt instrument periodic payment principal				$ 505,600,000
Common stock shares issued related to convertible notes			3,500,000	3,500,000
Lose on issuance of common stock from treasury stock				$ 8,100,000
0.50% Convertible Senior Notes due 2022 [Member] \| Purchase Agreement [Member]
Debt Instrument [Line Items]
Percentage Of Principal Amount Of Notes Equal To Repurchase Price		100.00%
0.50% Convertible Senior Notes due 2022 [Member] \| Purchase Agreement [Member] \| Convertible Notes Payable [Member]
Debt Instrument [Line Items]
Carrying Amount		$ 525,000,000
Debt instrument aggregate principal amount		$ 525,000,000
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maturity period				Mar. 11, 2026
Debt amortization period				60 months
Maximum leverage ratio permitted			3.75%	3.75%
Covenant description				Under the Credit Agreement, there are various restrictive covenants, including two financial covenants which limit the consolidated total leverage ratio, or leverage ratio, the consolidated interest coverage ratio, or interest coverage ratio, a restriction that permits accounts receivable financings provided that the aggregate unpaid amount of permitted accounts receivable financings are no more than the greater of $100 million and 50% of the amount of all accounts receivable of the Company and specified subsidiaries and other specific items. The leverage ratio is the ratio of net debt as of the measurement date to Consolidated EBITDA, for the four consecutive quarters ending with the quarter of measurement. The current leverage ratio shall not exceed 3.75 to 1.00 provided that for the four fiscal quarters ending after the date of a material acquisition, such maximum leverage ratio shall be adjusted to 4.25 to 1.00, and thereafter 3.75 to 1.0. The interest coverage ratio is Consolidated EBITDA to interest expense for the four consecutive quarters ending with the quarter of measurement. The interest coverage ratio must not be less than 3.50 to 1.0 during the term of the Credit Agreement. As of December 2022, we remain in compliance with the restrictive covenants.
Line of credit, maximum borrowing capacity			$ 250,000,000	$ 250,000,000
Line of credit facility allowable requests for additional borrowing			150,000,000	150,000,000
Outstanding principal amount			0	$ 0					$ 100,000,000.0
Repayment date, description				the revolving credit facility are required to be repaid in full by March 11, 2026. Debt issuance costs relating to the revolving credit facility of $1.6 million, included in non-current other assets on our consolidated balance sheet, are being amortized over 60 months.
Debt issuance cost				$ 1,600,000
Description of base rate				The revolving credit facility bears interest at our election of a Base Rate plus an Applicable Margin or LIBOR plus an Applicable Margin. Swingline loans bear interest at a Base Rate plus an Applicable Margin. The Base Rate is a floating rate that is the greater of the Prime Rate, the Federal Funds Rate plus 50 basis points, or LIBOR plus 100 basis points. The Applicable Margin is based on a sliding scale which ranges from 0.25 to 100 basis points for Base Rate loans and 100 basis points to 175 basis points for LIBOR loans.
Revolving credit facility description				The LIBOR index is expected to be discontinued at the end of June 2023.
Maximum accounts receivable financings per quarter			$ 100,000,000	$ 100,000,000
Minimum interest coverage ratio				3.50%
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Wells Fargo Securities, LLC [Member]
Debt Instrument [Line Items]
Covenant description				we entered into a Second Amended and Restated Credit Agreement, with the lenders party thereto and Wells Fargo Bank, National Association, as administrative agent, or the Credit Agreement, to, among other changes, extend the maturity date of our senior secured revolving credit facility, to five years from the closing date of the amendment, increase the facility size from $200.0 million to $250.0 million, and replace the requirement to maintain a total debt to Consolidated EBITDA (as defined in the Credit Agreement) ratio of not more than 4.75 to 1.00 with a requirement to maintain a net total debt to Consolidated EBITDA ratio of not more than 3.75 to 1.00 provided that for the four fiscal quarters ending after the date of a material acquisition, such maximum leverage ratio shall be adjusted to 4.25 to 1.00, and thereafter 3.75 to 1.00, provided further, that such deemed increase pursuant to the foregoing shall not apply to more than two material acquisitions consummated during the term of the Credit Agreement.
Prior leverage ratio permitted			4.75%	4.75%
Current leverage ratio permitted			3.75%	3.75%
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Federal Funds Rates [Member]
Debt Instrument [Line Items]
Basis spread on variable rate				50.00%
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate				100.00%
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Commitment fee percentage of unused portion				0.175%
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Minimum [Member] \| Wells Fargo Securities, LLC [Member]
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			$ 200,000,000.0	$ 200,000,000.0
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Minimum [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate				100.00%
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Minimum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate				0.25%
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage of unused portion				0.25%
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Maximum \| Wells Fargo Securities, LLC [Member]
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			250,000,000.0	$ 250,000,000.0
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Maximum \| LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate				175.00%
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Maximum \| Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate				100.00%
Amended and Restated Credit Agreement [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity						$ 20,000,000
Amended and Restated Credit Agreement [Member] \| Bridge Loan [Member]
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			$ 25,000,000	$ 25,000,000
Amended and Restated Credit Agreement [Member] \| For The First Four Fiscal Quarters Ending After Date of Material Acquisition [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum leverage ratio permitted			4.25%	4.25%
Amended and Restated Credit Agreement [Member] \| For The First Four Fiscal Quarters Ending After Date of Material Acquisition [Member] \| Revolving Credit Facility [Member] \| Wells Fargo Securities, LLC [Member]
Debt Instrument [Line Items]
Maximum leverage ratio permitted			4.25%	4.25%
Minimum leverage ratio permitted			3.75%	3.75%
Amended and Restated Credit Agreement [Member] \| Thereafter [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum leverage ratio permitted			3.75%	3.75%

Debt - Schedule Of Redemption Prices And Unpaid Interest (Detail)	6 Months Ended
	Dec. 24, 2022
2024 [Member]
Debt Instrument [Line Items]
Price	102.00%
2025 [Member]
Debt Instrument [Line Items]
Price	101.00%
2026 An Thereafter[Member]
Debt Instrument [Line Items]
Price	100.00%

Share-Based Compensation - Share-Based Compensation, Cash-Based Awards and Related Tax Benefit Recognized in Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 24, 2022	Dec. 25, 2021	Dec. 24, 2022	Dec. 25, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	$ 30.0	$ 36.6	$ 62.6	$ 72.2
Income tax benefit on share-based compensation	(4.1)	(11.4)	(7.9)	(16.7)
Phantom Stock Unit [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	1.4	10.2	0.7	24.6
Cost of Revenue [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	1.0	1.3	2.1	2.3
Cost of Revenue [Member] \| Phantom Stock Unit [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total		0.1		0.1
Research and Development [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	13.4	18.6	27.4	39.4
Research and Development [Member] \| Phantom Stock Unit [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	(1.2)	8.4	0.3	20.2
Selling, General, and Administrative [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	15.6	16.7	33.1	30.5
Selling, General, and Administrative [Member] \| Phantom Stock Unit [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	$ (0.2)	$ 1.7	$ 0.4	$ 4.3

Share-Based Compensation - New Stock-Based Compensation Plans - Additional Information (Detail) - shares	6 Months Ended
	Dec. 24, 2022	Oct. 25, 2022	Aug. 19, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved by stockholders		5,288,000
Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares authorized to purchase	1,500,000
2019 Inducement Equity Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance			650,000

Share-Based Compensation - Schedule of Stock Option Activity (Detail) $ / shares in Units, $ in Millions	6 Months Ended
	Dec. 24, 2022 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Stock Option Awards Outstanding, Balance as of June 2022	31,185
Stock Option Awards Outstanding, Exercised	(7,019)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Expirations	299
Stock Option Awards Outstanding, Balance as of December 2022	23,867
Weighted Average Exercise Price, Exercised \| $ / shares	$ 81.50
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price \| $ / shares	89.30
Weighted Average Exercise Price, Balance as of December 2022 \| $ / shares	$ 55.30
Aggregate Intrinsic Value, Balance as of December 2022 \| $	$ 0.9

Share-Based Compensation - Stock Options - Additional Information (Detail)	Dec. 23, 2022 $ / shares
Stock option outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Closing price of common stock used to calculate Aggregate intrinsic value of stock option outstanding	$ 94.15

Share-Based Compensation - Schedule of Stock Units Activity (Detail) $ in Millions	6 Months Ended
	Dec. 24, 2022 USD ($) shares
Restricted stock units outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Unit Awards Outstanding, Balance as of June 2022	1,220,573
Stock Unit Awards, Granted	717,776
Stock Unit Awards, Delivered/Released	(484,856)
Stock Unit Awards, Forfeited	(52,122)
Stock Unit Awards Outstanding, Balance as of December 2022	1,401,371
Aggregate Intrinsic Value, Balance as of December 2022 \| $	$ 131.9
Market stock units outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Unit Awards Outstanding, Balance as of June 2022	251,974
Stock Unit Awards, Granted	270,342
Stock Unit Awards, Delivered/Released	(304,334)
Stock Unit Awards Outstanding, Balance as of December 2022	217,982
Aggregate Intrinsic Value, Balance as of December 2022 \| $	$ 20.5
Performance stock units outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Unit Awards Outstanding, Balance as of June 2022	257,903
Stock Unit Awards, Granted	265,446
Stock Unit Awards, Delivered/Released	(250,118)
Stock Unit Awards, Forfeited	(5,359)
Stock Unit Awards Outstanding, Balance as of December 2022	267,872
Aggregate Intrinsic Value, Balance as of December 2022 \| $	$ 25.2
Phantom Stock Unit [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Unit Awards Outstanding, Balance as of June 2022	176,097
Stock Unit Awards, Granted	173,436
Stock Unit Awards, Forfeited	(2,661)
Stock Unit Awards Outstanding, Balance as of December 2022	0

Share-Based Compensation - Restricted Stock Units - Additional Information (Detail) - Restricted stock units outstanding [Member] - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Dec. 24, 2022	Dec. 23, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Closing price of common stock used to calculate Aggregate intrinsic value of stock option outstanding		$ 94.15
Shares withheld to meet statutory minimum tax withholding requirements	146,614
Shares valued withheld to meet statutory minimum tax withholding requirements	$ 17.7

Share-Based Compensation - Market Stock Units - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Dec. 24, 2022	Dec. 23, 2022
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	0.00%
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	200.00%
Market stock units outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Closing price of common stock used to calculate Aggregate intrinsic value of stock option outstanding		$ 94.15
Shares withheld to meet statutory minimum tax withholding requirements	159,379
Shares valued withheld to meet statutory minimum tax withholding requirements	$ 18.5
Unrecognized share-based compensation cost	$ 33.5
Unrecognized share-based compensation, period for recognition	1 year 2 months 12 days
Market stock units outstanding [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	0.00%
Market stock units outstanding [Member] \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	200.00%
Market stock units outstanding [Member] \| Share-based Compensation Award, First Tranche [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of the underlying awards	1 year
Market stock units outstanding [Member] \| Share-based Compensation Award, Second Tranche [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of the underlying awards	2 years
Percentage Of Potential Payout	200.00%
Market stock units outstanding [Member] \| Share-based Compensation Award, Second Tranche [Member] \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	300.00%
Market stock units outstanding [Member] \| Share-based Compensation Award, Second Tranche [Member] \| Maximum \| Three-Year Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	100.00%
Market stock units outstanding [Member] \| Share-based Compensation Award, Third Tranche [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of the underlying awards	3 years
Market stock units outstanding [Member] \| Share-based Compensation Award, Third Tranche [Member] \| Maximum \| Four-Year Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	100.00%
Market stock units outstanding [Member] \| Share-based Compensation Award, Fourth Tranche [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of the underlying awards	4 years
Market stock units outstanding [Member] \| TSR Percentile Below 25 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	0.00%
Market stock units outstanding [Member] \| TSR Percentile Below 25 [Member] \| Three-Year Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	0.00%
Market stock units outstanding [Member] \| TSR Percentile Below 25 [Member] \| Minimum [Member] \| Three-Year Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	0.00%
Market stock units outstanding [Member] \| TSR Percentile Below 25 [Member] \| Maximum \| Three-Year Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	300.00%
Market stock units outstanding [Member] \| TSR Percentile Above 75 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	200.00%
Market stock units outstanding [Member] \| TSR Percentile Above 75 [Member] \| Three-Year Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	300.00%
Market stock units outstanding [Member] \| TSR Percentile 50 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	100.00%
Market stock units outstanding [Member] \| TSR Percentile 50 [Member] \| Three-Year Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	100.00%

Share-Based Compensation - Performance Stock Units - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Dec. 24, 2022	Dec. 23, 2022
Performance stock units outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Closing price of common stock used to calculate Aggregate intrinsic value of stock option outstanding		$ 94.15
Requisite service period	3 years
Shares withheld to meet statutory minimum tax withholding requirements	114,859
Shares valued withheld to meet statutory minimum tax withholding requirements	$ 12.9
Unrecognized share-based compensation cost	$ 46.4
Unrecognized share-based compensation, period for recognition	1 year 1 month 6 days
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Potential payout range	0.00%
Minimum [Member] \| Performance stock units outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Potential payout range	0.00%
Threshold percentage of earnings per share to trigger pay out	65.00%
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Potential payout range	200.00%
Maximum \| Performance stock units outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Potential payout range	200.00%
Threshold percentage of earnings per share to trigger pay out	135.00%

Share-Based Compensation - Phantom Stock Units - Additional Information (Detail) - $ / shares	6 Months Ended
	Dec. 24, 2022	Jun. 25, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of outstanding stock units	$ 55.30	$ 61.51
Phantom Stock Unit [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of the underlying awards	3 years

Share-Based Compensation - Shares Purchased, Weighted Average Purchase Price, Cash Received, and Aggregate Intrinsic Value for ESPP (Detail) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Dec. 24, 2022	Jun. 26, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate intrinsic value	$ 0.9
Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares purchased	88,210
Weighted average purchase price	$ 92.52
Cash received	$ 9.6
Aggregate intrinsic value		$ 1.4

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 24, 2022	Dec. 25, 2021	Dec. 24, 2022	Dec. 25, 2021
Income Tax Disclosure [Line Items]
Benefit for income taxes	$ 17.4	$ 2.0	$ 56.5	$ 7.9
Unrecognized Tax Benefits, Period Increase (Decrease)			21.4
Gross unrecognized tax benefits	51.2		51.2
Interest and penalties accrued related to unrecognized tax benefits	$ 2.7		2.7
Increase (decrease) in interest and penalties accrued related to unrecognized tax benefits			$ 0.2

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Segment, Customers, and Geographic Information - Additional Information (Detail)	6 Months Ended
	Dec. 24, 2022 Segment Product
Segment Reporting Information [Line Items]
Number of operating segments \| Segment	1
Number of product \| Product	3

Segment, Customers, and Geographic Information - Net Revenue within Geographic Areas Based on Customers' Locations (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 24, 2022	Dec. 25, 2021	Dec. 24, 2022	Dec. 25, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 353.1	$ 420.5	$ 801.2	$ 793.2
China [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	131.7	142.1	246.2	277.2
Taiwan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	85.2	127.6	265.9	247.1
Japan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	90.8	119.5	197.1	211.1
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	32.3	16.8	68.9	33.3
South Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	11.5	10.7	17.1	18.9
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 1.6	$ 3.8	$ 6.0	$ 5.6

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Segment, Customers, and Geographic Information - Net Revenue from Customers (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 24, 2022	Dec. 25, 2021	Dec. 24, 2022	Dec. 25, 2021
Revenue from External Customer [Line Items]
Net revenue	$ 353.1	$ 420.5	$ 801.2	$ 793.2
Mobile Product Applications [Member]
Revenue from External Customer [Line Items]
Net revenue	57.3	76.3	97.5	154.7
PC Product Applications [Member]
Revenue from External Customer [Line Items]
Net revenue	56.5	82.7	121.7	171.3
Internet of Things Product Applications [Member]
Revenue from External Customer [Line Items]
Net revenue	$ 239.3	$ 261.5	$ 582.0	$ 467.2

- Definition

+ References

+ Details

Segment, Customers, and Geographic Information - Major Customers as Percentage of Net Revenue (Detail) - Sales Revenue, Net [Member] - Customer Concentration Risk [Member]	3 Months Ended		6 Months Ended
	Dec. 24, 2022	Dec. 25, 2021	Dec. 24, 2022	Dec. 25, 2021
Customer A [Member]
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage	11.00%	13.00%	10.00%	12.00%
Customer B [Member]
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage		12.00%	10.00%	12.00%

Segment, Customers, and Geographic Information - Major Customers as Percentage of Net Revenue (Parenthetical) (Detail)	6 Months Ended
	Dec. 24, 2022
Customer Concentration Risk [Member] \| Sales Revenue, Net [Member] \| Maximum
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage	10.00%

Segment, Customers, and Geographic Information - Major Customer Accounts Receivable as Percentage of Accounts Receivable (Detail) - Accounts Receivable [Member] - Credit Concentration Risk [Member]	6 Months Ended	12 Months Ended
	Dec. 24, 2022	Jun. 25, 2022
Customer A [Member]
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage	16.00%	17.00%
Customer B [Member]
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage	14.00%	15.00%

Restructuring Activities - Restructuring Liability Activities (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 25, 2021	Dec. 24, 2022	Dec. 25, 2021
Restructuring Cost And Reserve [Line Items]
Restructuring costs	$ 5.1	$ 0.0	$ 6.5