0000950170-23-043521 | 10-K | XBRL Viewer

Fair Value Measurements (Tables)

12 Months Ended

Jun. 24, 2023

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

At the end of June 2023 and 2022, financial assets measured at fair value on a recurring basis are summarized below (in millions):


	June 2023						June 2022
	Level 1		Level 2		Total		Level 1		Level 2		Total
Assets:
Cash equivalents:
Money market funds	$	54.4	$	—	$	54.4	$	12.1	$	—	$	12.1
Treasury bills		16.4		—		16.4		—		—		—
Short-term investments:
Certificates of deposit		—		0.2		0.2		—		2.4		2.4
Corporate debt securities		—		6.3		6.3		—		41.8		41.8
Municipal bonds		—		3.1		3.1		—		7.8		7.8
Total assets	$	70.8	$	9.6	$	80.4	$	12.1	$	52.0	$	64.1

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 Debt are as follows for the periods presented (in millions):


	June 2023				June 2022
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Senior Notes due 2029	$	395.6	$	337.2	$	395.0	$	326.9
Term Loan due 2028		582.4	$	575.3		586.7	$	575.0
	$	978.0	$	912.5	$	981.7	$	901.9

Share-Based Compensation - Restricted Stock Units - Additional Information (Detail) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Jun. 24, 2023 USD ($) $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares withheld to meet statutory minimum tax withholding requirements	1.3
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs granted under the 2010 Incentive Plan	vest ratably over three to four years from the vesting commencement date.
Shares withheld to meet statutory minimum tax withholding requirements	105.9
Closing price of common stock used to calculate Aggregate intrinsic value of stock option outstanding \| $ / shares	$ 81.16
Unrecognized share-based compensation cost for RSUs granted \| $	$ 122.7
Unrecognized share-based compensation, period for recognition	1 year 10 months 2 days

Goodwill and Acquired Intangible Assets

12 Months Ended

Jun. 24, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets

7. Goodwill and Acquired Intangible Assets

The following table presents our goodwill balance as of June 2023 and June 2022 (in millions):


	2023		2022
Beginning balance	$	806.6	$	570.0
Acquisition activity		9.8		236.6
Ending balance	$	816.4	$	806.6

The following table summarizes the life, the gross carrying value of our acquired intangible assets, and the related accumulated amortization as of the end of fiscal 2023 and 2022 (in millions):


			2023							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	$	(150.7	)	$	81.2	$	232.1	$	(109.3	)	$	122.8
Customer relationships		4.1		158.2		(117.8	)		40.4		170.5		(99.7	)		70.8
Wireless connectivity technology		5.8		158.0		(58.0	)		100.0		128.0		(33.8	)		94.2
Video interface technology		3.0		82.0		(79.7	)		2.3		82.0		(52.4	)		29.6
Human presence detection technology		5.0		5.2		(0.7	)		4.5		—		—			—
Licensed technology and other		4.4		10.8		(8.9	)		1.9		9.9		(7.5	)		2.4
Patents		8.0		4.4		(4.3	)		0.1		4.4		(3.7	)		0.7
Tradename		4.4		5.8		(4.7	)		1.1		5.8		(3.3	)		2.5
In process research and development	Not applicable			67.0		—			67.0		67.0		—			67.0
Acquired intangibles, gross		4.9	$	723.3	$	(424.8	)	$	298.5	$	699.7	$	(309.7	)	$	390.0

During fiscal 2023, we retired fully amortized intangible assets of $20.4 million of display driver technology. During fiscal 2022, we retired fully amortized intangible assets of $21.5 million of audio and video developed technology, $12.0 million in backlog and $3.1 million in licensed technology and other.

Amortization expense is calculated using the straight-line method over the estimated useful lives of the acquired intangibles. The total amortization expense for the acquired intangible assets was $130.4 million in fiscal 2023, $123.5 million in fiscal 2022, and $110.1 million in fiscal 2021. This amortization expense was included in our consolidated statements of operations as acquired intangibles amortization and cost of revenue.

The following table presents expected annual aggregate amortization expense in future fiscal years (in millions):


2024	$	73.8
2025		66.9
2026		53.8
2027		23.2
2028		10.6
Thereafter		3.2
To be determined		67.0
Future amortization	$	298.5

Segment, Customers, and Geographic Information - Major Customers' Revenue as a Percentage of Total Net Revenue (Parenthetical) (Detail)	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Customer Concentration Risk [Member] \| Sales Revenue, Net [Member] \| Maximum [Member]
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage	10.00%	10.00%	10.00%

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022
Leases Commitments And Contingencies [Abstract]
Cash paid for operating leases included in operating cash flows	$ 10.6	$ 12.5
Supplemental non-cash information related to lease liabilities arising from obtaining right-of-use assets	$ 7.3	$ 42.5

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Retirement Benefits [Abstract]
Annual limit of employees contribution to defined contribution plan	$ 22,500.0
Annual limit of contribution for 50 years or older employees	$ 30,000.0
Percentage of maximum employer matching contribution to defined contribution plans	25.00%
Contributions by employer matching contributions	$ 1.9	$ 1.7	$ 1.8

Debt - Schedule of Future Principal Payments Related To Our Senior Notes and Term Loan Facility (Details) - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022
Debt Instrument [Line Items]
2024	$ 6.0
2025	6.0
2026	6.0
2027	6.0
2028	6.0
Thereafter	961.0
Total	991.0	$ 997.0
Term Loan [Member]
Debt Instrument [Line Items]
2024	6.0
2025	6.0
2026	6.0
2027	6.0
2028	6.0
Thereafter	561.0
Total	591.0
Senior Notes [Member]
Debt Instrument [Line Items]
2024	0.0
2025	0.0
2026	0.0
2027	0.0
2028	0.0
Thereafter	400.0
Total	$ 400.0

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Cash flows from operating activities
Net income	$ 73.6	$ 257.5	$ 79.6
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation costs	122.0	100.8	66.1
Depreciation and amortization	27.4	24.0	21.6
Acquired intangibles amortization	130.4	123.5	110.1
Gain on sale of audio technology assets	0.0	0.0	(34.2)
Gain on sale and leaseback transaction	0.0	(5.4)	0.0
Loss on redemption of convertible notes	0.0	8.1	0.3
Deferred taxes	(25.9)	(29.7)	(5.2)
Amortization of convertible debt discount and issuance costs	2.6	3.4	19.8
Amortization of right-of-use assets	9.7	10.8	8.6
Amortization of cost of development services	5.8	10.0	9.2
Provision For Inventory Excess And Obsolescence	7.9	(10.9)	9.7
Equity investment (gain) loss	0.0	(1.6)	9.1
Foreign currency remeasurement (gain) loss	1.7	(7.6)	(2.8)
Other	(0.3)	(1.3)	0.0
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable, net	161.3	(81.1)	(25.9)
Inventories	24.6	(54.2)	43.4
Prepaid expenses and other current assets	(6.1)	6.9	(9.4)
Other assets	9.4	15.0	(8.6)
Accounts payable	(95.6)	23.2	32.2
Accrued compensation	(45.4)	5.3	14.9
Income taxes payable	(15.6)	48.6	(2.1)
Other accrued liabilities	(56.0)	17.4	(17.2)
Net cash provided by operating activities	331.5	462.7	319.2
Cash flows from investing activities
Proceeds from sale of assets	0.2	55.9	0.0
Acquisition of businesses, net of cash and cash equivalents acquired	(15.5)	(501.1)	(626.5)
Advance payment on intangible assets	0.0	(30.0)	0.0
Proceeds from sale of audio technology assets	0.0	0.0	34.2
Proceeds from maturity of investments	21.4	0.0	0.0
Proceeds from sales of investments	22.2	24.4	95.8
Purchase of short-term securities	0.0	(5.8)	0.0
Purchases of property and equipment	(34.2)	(31.1)	(21.1)
Receipt Of Liquidation Payment On Equity Investment	0.8	0.0	0.0
Purchase of intangible assets	(0.9)	0.0	0.0
Proceeds from sale of equity method investment	0.0	5.0	0.0
Cost method investment	0.0	0.0	(5.0)
Net cash used in investing activities	(6.0)	(482.7)	(522.6)
Cash flows from financing activities
Proceeds from issuance of debt	0.0	600.0	400.0
Payment of debt issuance costs	0.0	(11.2)	(6.0)
Proceeds from issuance of shares	17.6	15.2	27.8
Payroll taxes related to net share settlement of share-based awards	(54.5)	(67.3)	(28.3)
Repurchases of common stock	(183.5)	0.0	0.0
Repayment on line of credit borrowings and debt	(6.0)	(3.0)	(100.0)
Payment for Redemption of Convertible Notes	0.0	(505.6)	(19.4)
Refundable deposit paid to vendor	0.0	(16.6)	0.0
Return of deposit received from vendor and other	5.1	2.8	0.0
Net cash provided by (used in) financing activities	(221.3)	14.3	274.1
Effect of exchange rate changes on cash and cash equivalents	(3.5)	(6.6)	2.2
Net increase (decrease) in cash and cash equivalents	100.7	(12.3)	72.9
Cash and cash equivalents at beginning of year	824.0	836.3	763.4
Cash and cash equivalents at end of year	924.7	824.0	836.3
Supplemental disclosures of cash flow information
Cash paid for taxes, net of refunds	91.4	38.3	39.4
Cash paid for interest	51.9	25.0	9.6
Non-cash investing and financing activities:
Purchases of property and equipment in current liabilities	2.2	3.6	0.8
Receipt of intangible assets from advance payment made in previous fiscal year	$ 30.0	$ 0.0	$ 0.0

Acquisitions - Summary of Adjusted Purchase Price (Detail) $ in Millions	12 Months Ended
	Jun. 25, 2022 USD ($)
Business Acquisition [Line Items]
Allocation of stock based compensation replacement awards	$ 1.7

Restructuring Activities - Restructuring Liability Activities (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Restructuring Cost And Reserve [Line Items]
Beginning Balance	$ 1.4	$ 0.2	$ 6.1
Restructuring charges	0.0	18.3	7.4
Payments	(1.4)	(17.1)	(13.3)
Ending Balance	$ 0.0	$ 1.4	$ 0.2

Organization and Summary of Significant Accounting Policies - Inventories (Detail) - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022
Inventory Disclosure [Abstract]
Raw materials and work-in-progress	$ 70.5	$ 92.2
Finished goods	66.7	77.5
Total Inventories	$ 137.2	$ 169.7

Debt - Schedule Of Redemption Prices And Unpaid Interest (Detail)	12 Months Ended
	Jun. 24, 2023
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%

Restructuring Activities (Additional Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 0.0	$ 18.3	$ 7.4

Share Based Compensation - Schedule of Stock Option Activity (Detail) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 24, 2023 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Stock Option Awards Outstanding, Balance at June 2022 \| shares	31,185
Stock Option Awards Outstanding, Exercised \| shares	(27,545)
Stock Option Awards Outstanding, Expired \| shares	(557)
Stock Option Awards Outstanding, Balance at June 2023 \| shares	3,083
Stock Option Awards Outstanding, Exercisable at June 2023 \| shares	3,083
Weighted Average Exercise Price, Balance at June 2022 \| $ / shares	$ 61.50
Weighted Average Exercise Price, Exercised \| $ / shares	62.10
Weighted Average Exercise Price, Expired \| $ / shares	81.88
Weighted Average Exercise Price, Balance at June 2023 \| $ / shares	52.53
Weighted Average Exercise Price, Exercisable at June 2023 \| $ / shares	$ 52.53
Aggregate intrinsic value \| $	$ 0.1
Intrinsic Value, Exercisable at June 2023 \| $	$ 0.1

Fair Value Measurements (Additional Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022
Defined Benefit Plan Disclosure [Line Items]
Cash held in bank	$ 853.9
Level 1, 2 or 3 Member
Defined Benefit Plan Disclosure [Line Items]
Asset transfer	$ 0.0	$ 0.0

Income Taxes - Provision for Income Taxes Differs from Federal Statutory Rate (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Income Tax Disclosure [Abstract]
Provision at U.S. federal statutory tax rate	$ 26.4	$ 67.3	$ 25.1
State income taxes	0.0	0.0	0.1
Non-deductible share-based compensation	6.6	7.9	5.2
(Windfall)/shortfall related to share-based compensation	(1.3)	(18.1)	(3.8)
Non-deductible officer compensation	6.4	6.4	6.4
Business credits	(5.2)	(10.0)	(3.8)
Foreign tax differential	(0.5)	6.4	(6.7)
U.S. inclusion of foreign income	21.0	3.6	5.2
Deferred taxes on unremitted foreign earnings	0.3	0.7	3.5
Other differences	(1.3)	0.4	0.2
Provision for income taxes	$ 52.4	$ 64.6	$ 31.4

Goodwill and Acquired Intangible Assets (Tables)

12 Months Ended

Jun. 24, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table presents our goodwill balance as of June 2023 and June 2022 (in millions):


	2023		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 of our acquired intangible assets, and the related accumulated amortization as of the end of fiscal 2023 and 2022 (in millions):


			2023							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	$	(150.7	)	$	81.2	$	232.1	$	(109.3	)	$	122.8
Customer relationships		4.1		158.2		(117.8	)		40.4		170.5		(99.7	)		70.8
Wireless connectivity technology		5.8		158.0		(58.0	)		100.0		128.0		(33.8	)		94.2
Video interface technology		3.0		82.0		(79.7	)		2.3		82.0		(52.4	)		29.6
Human presence detection technology		5.0		5.2		(0.7	)		4.5		—		—			—
Licensed technology and other		4.4		10.8		(8.9	)		1.9		9.9		(7.5	)		2.4
Patents		8.0		4.4		(4.3	)		0.1		4.4		(3.7	)		0.7
Tradename		4.4		5.8		(4.7	)		1.1		5.8		(3.3	)		2.5
In process research and development	Not applicable			67.0		—			67.0		67.0		—			67.0
Acquired intangibles, gross		4.9	$	723.3	$	(424.8	)	$	298.5	$	699.7	$	(309.7	)	$	390.0

Schedule of Expected Annual Aggregate Amortization Expense

The following table presents expected annual aggregate amortization expense in future fiscal years (in millions):


2024	$	73.8
2025		66.9
2026		53.8
2027		23.2
2028		10.6
Thereafter		3.2
To be determined		67.0
Future amortization	$	298.5

- 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
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Leases, Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions		12 Months Ended
	Feb. 08, 2022	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Commitments Contingencies And Litigation [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
Gain from sale and leaseback transaction		$ 0.0	$ 5.4	$ 0.0
Lessee, Operating Lease, Existence of Option to Extend				true
Operating Leases, Expense		$ 12.0	$ 12.7
Operating Lease, Weighted Average Remaining Lease Term		7 years 4 months 17 days
Operating Lease, Weighted Average Discount Rate, Percent		5.15%
South Bay Development [Member]
Commitments Contingencies And Litigation [Line Items]
Sale Leaseback Transactions Other Payments Required	$ 55.9
Sale Leaseback Transaction, Lease Terms	for an initial term of 12 years and a renewal option for an additional seven years
Maximum [Member]
Commitments Contingencies And Litigation [Line Items]
Lessee Operating Lease Renewal Term		7 years

Income Taxes (Tables)

12 Months Ended

Jun. 24, 2023

Income Tax Disclosure [Abstract]

Tabular Disclosure of Income (Loss) Before Income Tax Between Domestic and Foreign Jurisdictions

Income/(loss) before provision for income taxes for fiscal 2023, 2022, and 2021 consisted of the following (in millions):


	2023			2022			2021
United States	$	(118.2	)	$	(44.8	)	$	(21.0	)
Foreign		244.2			365.3			141.1
Income before provision for income taxes	$	126.0		$	320.5		$	120.1

Provision for Income Taxes

The provision for income taxes for fiscal 2023, 2022, and 2021 consisted of the following (in millions):


	2023			2022			2021
Current tax expense/(benefit)
Federal	$	15.8		$	(0.6	)	$	4.1
State		0.1			—			0.1
Foreign		62.4			94.9			36.1
		78.3			94.3			40.3
Deferred tax expense/(benefit)
Federal		(12.7	)		(21.8	)		(0.5	)
State		—			—			—
Foreign		(13.2	)		(7.9	)		(8.4	)
		(25.9	)		(29.7	)		(8.9	)
Provision for income taxes	$	52.4		$	64.6		$	31.4

Provision for Income Taxes Differs from Federal Statutory Rate

The provision for income taxes differs from the federal statutory rate for fiscal 2023, 2022, and 2021 as follows (in millions):


	2023			2022			2021
Provision at U.S. federal statutory tax rate	$	26.4		$	67.3		$	25.1
State income taxes		—			—			0.1
Non-deductible share-based compensation		6.6			7.9			5.2
(Windfall)/shortfall related to share-based compensation		(1.3	)		(18.1	)		(3.8	)
Non-deductible officer compensation		6.4			6.4			6.4
Business credits		(5.2	)		(10.0	)		(3.8	)
Foreign tax differential		(0.5	)		6.4			(6.7	)
U.S. inclusion of foreign income		21.0			3.6			5.2
Deferred taxes on unremitted foreign earnings		0.3			0.7			3.5
Other differences		(1.3	)		0.4			0.2
Provision for income taxes	$	52.4		$	64.6		$	31.4

Significant Components of Deferred Tax Assets (Liabilities)

Significant components of our deferred tax assets (liabilities) as of the end of fiscal 2023 and 2022 consisted of the following (in millions):


	2023			2022
Deferred tax assets:
Capital loss carryforward	$	34.1		$	33.8
Inventory write downs		1.9			2.6
Property and equipment and intangible assets		42.1			11.7
Share-based compensation		10.3			12.0
Nondeductible interest		4.9			5.4
Lease liabilities		10.1			11.2
Business credit carryforward		45.1			62.0
Net operating loss carryforward		10.8			16.3
Other accruals		5.1			5.6
		164.4			160.6
Valuation allowance		(78.4	)		(75.0	)
		86.0			85.6
Deferred tax liabilities:
Property and equipment		(1.9	)		(2.0	)
Right-of-use assets		(9.5	)		(11.5	)
Unremitted foreign earnings		(14.3	)		(22.1	)
Acquisition intangibles		(31.4	)		(45.8	)
		(57.1	)		(81.4	)
Net deferred tax assets	$	28.9		$	4.2

Reconciliation of Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending balance of gross unrecognized tax benefits for fiscal 2023, 2022, and 2021 consisted of the following (in millions):


	2023			2022			2021
Beginning balance	$	29.8		$	22.6		$	20.1
Increase in unrecognized tax benefits related to current year tax positions		13.7			7.1			5.5
Increase in unrecognized tax benefits related to prior year tax positions		2.5			5.5			—
Decrease due to effective settlement with tax authorities		(1.1	)		—			—
Remeasurement of unrecognized tax benefits		(0.3	)		(0.5	)		—
Decrease due to statute expiration		(0.9	)		(4.9	)		(3.0	)
Ending Balance	$	43.7		$	29.8		$	22.6

Leases - Schedule of Components of Leases (Detail) - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022
Leases Commitments And Contingencies [Abstract]
Operating lease right-of-use assets	$ 49.0	$ 61.2
Operating lease liabilities	9.0	7.6
Operating lease liabilities, long-term	42.4	51.5
Total operating lease liabilities	$ 51.4	$ 59.1

Leases

12 Months Ended

Jun. 24, 2023

Leases Commitments And Contingencies [Abstract]

Leases

9. Leases

Our leases primarily include our headquarters office and 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. During fiscal 2023 and 2022, we recorded approximately $12.0 million and $12.7 million of operating leases expense, respectively. Our short-term leases are immaterial and we do not have finance leases.

As of the end of fiscal 2023 and 2022, the components of leases are as follows (in millions):


	2023		2022
Operating lease right-of-use assets	$	49.0	$	61.2
Operating lease liabilities	$	9.0	$	7.6
Operating lease liabilities, long-term		42.4		51.5
Total operating lease liabilities	$	51.4	$	59.1

Supplemental cash flow information related to leases is as follows (in millions):


	2023		2022
Cash paid for operating leases included in operating cash flows	$	10.6	$	12.5
Supplemental non-cash information related to lease liabilities arising from obtaining right-of-use assets		7.3		42.5

As of the end of fiscal 2023, the weighted average remaining lease term was 7.38 years, and the weighted average discount rate was 5.15%.

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


	Operating
	Lease
Fiscal Year	Payments
2024	$	10.3
2025		9.9
2026		8.4
2027		7.4
2028		5.9
Thereafter		20.2
Total future minimum operating lease payments		62.1
Less: interest		(10.7	)
Total lease liabilities	$	51.4

Sale and Leaseback Transaction

On February 8, 2022, we executed a sale and leaseback transaction of our properties located at 1109-1251 McKay Drive and 1140-1150 Ringwood Court, San Jose, California, for a purchase price, net of closing and other expenses payable by us, of $55.9 million. Concurrent with the sale, we entered into a lease agreement with the buyer to lease back the land and properties located at 1109 and 1151 McKay Drive, San Jose, California, for an initial term of 12 years and a renewal option for an additional seven years. The transaction qualified for sale and leaseback and operating lease accounting classification, and we recorded a gain of $5.4 million which is recorded in the gain on sale and leaseback transaction line in the consolidated statements of operations.

Cash, Cash Equivalents and Short-Term Investments - Schedule of classified by contractual maturity date (Details) - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022
Cash and Cash Equivalents [Line Items]
Amortized Cost	$ 9.8	$ 54.0
Debt Instrument, Fair Value Disclosure	9.6	52.0
Due within 1 year
Cash and Cash Equivalents [Line Items]
Amortized Cost	9.8	21.0
Debt Instrument, Fair Value Disclosure	9.6	20.4
Due between 1 year to 5 years
Cash and Cash Equivalents [Line Items]
Amortized Cost	0.0	33.0
Debt Instrument, Fair Value Disclosure	$ 0.0	$ 31.6

Segment, Customers, and Geographic Information

12 Months Ended

Jun. 24, 2023

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 applications market, the personal computing, or PC, product applications market, and the mobile, product applications market. The chief executive officer was identified as the chief operating decision maker, or CODM, and is ultimately responsible for and actively involved in the allocation of resources and the assessment of our performance. The fact that we operate in only one reportable segment is based on the following:

•

Our organizational structure is based along functional lines. Each of the functional department heads reports directly to the CODM.

•

The assessments of our performance company-wide, including assessment of our incentive compensation plan, are based largely on our operational performance and consolidated financial performance.

•

The decisions on allocation of resources and other operational decisions are made by the CODM based on his direct involvement with our operations and product development.

Net revenue within geographic areas based on our customers’ locations for fiscal 2023, 2022, and 2021, consisted of the following (in millions):


	2023		2022		2021
China	$	485.0	$	609.1	$	524.0
Taiwan		367.4		539.4		382.6
Japan		337.7		453.1		330.7
Vietnam		61.5		11.8		3.4
Other		62.6		72.1		66.1
South Korea		35.0		39.1		28.5
United States		5.9		15.1		4.3
	$	1,355.1	$	1,739.7	$	1,339.6

Net revenue from external customers for each group of similar products for fiscal 2023, 2022, and 2021 consisted of the following (in millions):


	2023		2022		2021
IoT product applications	$	946.3	$	1,100.9	$	612.9
PC product applications		217.3		343.0		354.7
Mobile product applications		191.5		295.8		372.0
	$	1,355.1	$	1,739.7	$	1,339.6

Long-lived assets within geographic areas as of the end of fiscal 2023 and 2022 consisted of the following (in millions):


	2023		2022
United States	$	119.1	$	118.1
Asia Pacific		195.8		196.4
EMEA		866.4		945.0
	$	1,181.3	$	1,259.5

The fiscal 2022 long-lived assets reported in the above table includes a reclassification of approximately $428.0 million to conform to the current period presentation. The reclassification relates to goodwill and intangible assets previously reported within the Asia Pacific region that are now presented within the EMEA region. This reclassification had no impact on previously reported geographic long-lived assets.

Our goodwill of $816.4 million has been allocated to two reporting units which include IoT and Mobile/PC.

Major customers’ revenue as a percentage of total net revenue for fiscal 2023, 2022, and 2021 were as follows:


	2023	2022	2021
Customer A	10%	12%	10%
Customer B	*	13%	13%
Customer C	*	*	14%

* Less than 10%

- 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
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Acquisitions

12 Months Ended

Jun. 24, 2023

Business Combinations [Abstract]

Acquisitions

4. Acquisitions

Asset Acquisition

During the third quarter of fiscal 2023, we completed the acquisition of certain developed technology intangible assets from Broadcom for an aggregate consideration of $30.0 million, which was paid in cash in the previous fiscal year. This transaction did not meet the definition of a business combination as substantially all of the fair value of the gross assets acquired was concentrated in the finite-lived developed technology intangible asset. As a result, this transaction was accounted for as an asset acquisition and the total purchase consideration was allocated to intangible assets, amortized over an estimated useful life of six years.

Emza Visual Sense, Ltd.

On October 25, 2022, we acquired all of the outstanding shares of Emza Visual Sense, Ltd., or 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. Goodwill recognized from the acquisition of Emza is not deductible for income tax purposes. Pro forma results of operations for this acquisition have not been presented because they are not material to our consolidated results of operations, either individually or in the aggregate.

DSP Group, Inc.

On August 30, 2021, we entered into an agreement and plan of merger with DSP Group, Inc., or DSPG, to acquire all of the equity of DSPG, a leading global provider of voice and wireless chipset solutions for converged communications, for $22.00 per share in an all-cash transaction, referred to as the DSPG acquisition. The DSPG acquisition closed on December 2, 2021, or the DSPG Closing Date, whereupon we obtained voice and wireless technology and product solutions for converged communications. In addition, under the terms of the agreement and plan of merger, we provided replacement equity awards to the transferred employees and allocated $1.7 million of the replacement equity awards value to consideration transferred.

The DSPG acquisition has been accounted for using the purchase method of accounting in accordance with the business acquisition guidance. Under the purchase accounting method, the total estimated purchase consideration of the acquisition was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their relative fair values. The excess of the purchase consideration over the net tangible and identifiable intangible assets acquired and liabilities has been recorded as goodwill. Our estimate of the fair values of the acquired intangible assets at June 25, 2022, was based on established and accepted valuation techniques performed with the assistance of our third-party valuation specialists.

The adjusted purchase price paid for DSPG was $543.3 million. The final purchase price allocation is as follows (in millions):


	Final As Adjusted June 25, 2022
Cash and cash equivalents	$	40.5
Short-term investments		71.9
Accounts receivable, net		12.9
Inventory		22.6
Prepaid expenses and other current assets		4.0
Property and equipment		5.9
Intangible assets		212.0
Right-of-use lease asset		9.8
Severance pay fund		16.2
Deferred tax asset		6.7
Non-current other assets		2.3
Total identifiable assets acquired		404.8
Accounts payable		(6.7	)
Other accrued expenses		(19.8	)
Short-term lease liabilities		(1.5	)
Long-term lease liabilities		(8.2	)
Accrued severance		(16.4	)
Deferred tax liability		(39.4	)
Other long-term liabilities		(6.1	)
Total liabilities		(98.1	)
Net identifiable assets acquired		306.7
Goodwill		236.6
Net assets acquired	$	543.3

There were no measurement period adjustments during fiscal 2023.

The following table summarizes the estimated fair value of the intangible assets as of the DSPG Closing Date (in millions):


	Estimated Weighted Average Useful Lives in Years		Estimated Fair Value

Developed technology		5.2	$	150.0
Customer contracts and related relationships		4.0		45.0
In process research and development	N/A			16.0
Trade names		1.0		1.0
Estimated fair value of acquired intangibles			$	212.0

We estimated the fair value of the identified intangible assets using a discounted cash flow model for each of the underlying identified intangible assets. These fair value measurements were based on significant inputs not observable in the market and thus represent a Level 3 measurement. Key assumptions include the level and timing of expected future cash flows, conditions and demands specific to each intangible asset over its remaining useful life, and discount rates we believe to be consistent with the inherent risks associated with each type of asset, which range from 4% to 18%. The fair value of these intangible assets is primarily affected by the projected revenue, gross margins, operating expenses, the technology migration curve, customer ramp up period and the anticipated timing of the projected income associated with each intangible asset coupled with the discount rates used to derive their estimated present values. We believe the level and timing of expected future cash flows appropriately reflects market participant assumptions.

In-process research and development consists of advanced semiconductor telecommunications products for the Internet of Things, or IoT, market. We expect to complete the in-process research and development project in calendar year 2024.

The value of goodwill reflects the anticipated synergies of the combined operations and workforce of DSPG as of the DSPG Closing Date. None of the goodwill is expected to be deductible for income tax purposes.

Prior to the DSPG acquisition, we did not have an existing relationship or transactions with DSPG.

The consolidated financial statements include approximately $83.8 million of revenue from the DSPG Closing Date through June 2022. It is impracticable to determine the effect on net income attributable to DSPG as we completed the integration of DSPG into our ongoing operations during the third quarter of fiscal 2022.

In fiscal year 2022, we incurred $4.4 million in acquisition related costs which were recorded in selling, general and administrative expense in the consolidated statements of operations. In December 2021, we executed the Term Loan Facility agreement in the amount of $600.0 million, the proceeds of which were used to finance the DSPG acquisition and we incurred $11.2 million of debt financing costs thereon. As of June 2023, $6.0 million of the Term Loan Facility is included in short-term debt, and $585.0 million is included in long-term debt on the accompanying consolidated balance sheets. See “Note 8 – Debt” for additional information.

Supplemental Pro Forma Information (Unaudited)

The supplemental pro forma financial information presented below is for illustrative purposes only and is not necessarily indicative of the financial position or results of operations that would have been realized if the acquisition had been completed on the date indicated, does not reflect synergies that might have been achieved, nor is it indicative of future operating results or financial position. The pro forma adjustments are based upon currently available information and certain assumptions we believe are reasonable under the circumstances.

The following supplemental pro forma information presents the combined results of operations as if DSPG had been acquired as of the beginning of fiscal 2021. Pro forma adjustments used to arrive at pro forma net income included adjustments for the addition of intangible amortization expense for the value of intangibles under the purchase price allocation, adjustments to record acquired inventories at fair value, transaction and restructuring costs. The total pro forma adjustments for fiscal 2022 was an increase to net income of $5.9 million and a decrease in net income of $86.3 million in fiscal 2021. The unaudited supplemental pro forma financial information for the periods presented is as follows (in millions):


	2022		2021
Revenue	$	1,802.6	$	1,466.0
Net income (loss)	$	263.4	$	(6.7	)

Property and Equipment - Additional Information (Detail)	12 Months Ended
	Jun. 24, 2023
Machinery and Equipment [Member]
Property Plant And Equipment [Line Items]
Construction in progress	12 months

Goodwill and Acquired Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Finite-Lived Intangible Assets [Line Items]
Acquired intangibles amortization	$ 130.4	$ 123.5	$ 110.1
Audio and Video Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Fully amortized intangible asset retired		21.5
Display Driver Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Fully amortized intangible asset retired	$ 20.4
Licensed Technology And Other [Member]
Finite-Lived Intangible Assets [Line Items]
Fully amortized intangible asset retired		3.1
Backlog [Member]
Finite-Lived Intangible Assets [Line Items]
Fully amortized intangible asset retired		$ 12.0

Share-Based Compensation - Fair Value of Each Award Granted Under Stock Option Plans (Detail) - $ / shares	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	55.22%	52.61%	53.62%
SOX Index [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	17.90%	17.40%	19.60%
SOX Index [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	320.70%	581.60%	197.60%
Market stock units outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Correlation coefficient	0.61%	0.53%	0.51%
Expected life in years	2 years 10 months 13 days	2 years 10 months 13 days	2 years 10 months 13 days
Risk-free interest rate	3.24%	0.40%	0.17%
Market stock units outstanding [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value per award	$ 218.15	$ 284.43	$ 131.34
Market stock units outstanding [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value per award	$ 438.24	$ 342.89	$ 175.15

Net Income Per Share - Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Numerator:
Net income	$ 73.6	$ 257.5	$ 79.6
Denominator:
Shares, basic	39.6	39.0	34.8
Effect of dilutive share-based awards and convertible notes	0.6	1.7	3.5
Shares, diluted	40.2	40.7	38.3
Net income per share:
Basic	$ 1.86	$ 6.60	$ 2.29
Diluted	$ 1.83	$ 6.33	$ 2.08

- Definition

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

+ References

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

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+ Details

Property and Equipment

12 Months Ended

Jun. 24, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

3. Property and Equipment

Property and equipment as of the end of fiscal 2023 and 2022 consisted of the following (in millions):


	Life	2023			2022
Computer equipment	3 - 5 years	$	20.1		$	19.3
Manufacturing equipment	1 - 5 years		105.9			93.3
Furniture, fixtures, and leasehold improvements	3 - 10 years		43.4			39.6
Capitalized software	3 - 7 years		22.5			24.3
Construction in progress			7.0			9.2
			198.9			185.7
Accumulated depreciation and amortization			(132.5	)		(122.8	)
Property and equipment, net		$	66.4		$	62.9

Our construction in progress primarily includes machinery and equipment that we expect to place in service in the next 12 months.

Acquisitions - Summary of the final amounts of the fair values recognized (Details) - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Business Acquisition [Line Items]
Goodwill	$ 816.4	$ 806.6	$ 570.0
DSP Group, Inc [Member]
Business Acquisition [Line Items]
Goodwill		236.6
Deferred tax asset		6.7
Other long-term assets		2.3
Deferred tax liability		(39.4)
Other long-term liabilities		$ (6.1)

- 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

Acquisitions (Tables)

12 Months Ended

Jun. 24, 2023

Business Acquisition [Line Items]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The adjusted purchase price paid for DSPG was $543.3 million. The final purchase price allocation is as follows (in millions):


	Final As Adjusted June 25, 2022
Cash and cash equivalents	$	40.5
Short-term investments		71.9
Accounts receivable, net		12.9
Inventory		22.6
Prepaid expenses and other current assets		4.0
Property and equipment		5.9
Intangible assets		212.0
Right-of-use lease asset		9.8
Severance pay fund		16.2
Deferred tax asset		6.7
Non-current other assets		2.3
Total identifiable assets acquired		404.8
Accounts payable		(6.7	)
Other accrued expenses		(19.8	)
Short-term lease liabilities		(1.5	)
Long-term lease liabilities		(8.2	)
Accrued severance		(16.4	)
Deferred tax liability		(39.4	)
Other long-term liabilities		(6.1	)
Total liabilities		(98.1	)
Net identifiable assets acquired		306.7
Goodwill		236.6
Net assets acquired	$	543.3

DSP Group, Inc [Member]

Business Acquisition [Line Items]

Summary of Estimated Fair Value of Intangible Assets

The following table summarizes the estimated fair value of the intangible assets as of the DSPG Closing Date (in millions):


	Estimated Weighted Average Useful Lives in Years		Estimated Fair Value

Developed technology		5.2	$	150.0
Customer contracts and related relationships		4.0		45.0
In process research and development	N/A			16.0
Trade names		1.0		1.0
Estimated fair value of acquired intangibles			$	212.0

Summary of Unaudited Pro Forma Financial Information Presents Combined Results of Operations

The unaudited supplemental pro forma financial information for the periods presented is as follows (in millions):


	2022		2021
Revenue	$	1,802.6	$	1,466.0
Net income (loss)	$	263.4	$	(6.7	)

Subsequent Events (Additional Information) (Details) - USD ($) $ in Millions		1 Months Ended	12 Months Ended
	Jul. 21, 2023	Jul. 31, 2023	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Subsequent Event [Line Items]
Discrete tax benefit			$ 52.4	$ 64.6	$ 31.4
Subsequent Event [Member]
Subsequent Event [Line Items]
Discrete tax benefit	$ 12.0
Subsequent Event [Member] \| Broadcom [Member]
Subsequent Event [Line Items]
Assets acquisition, aggregate consideration		$ 130.0

- Definition

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

+ References + Details

Fair Value Measurements - Schedule of carrying amounts and estimated fair values of the Senior Notes (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 25, 2022	Jun. 24, 2023	Dec. 02, 2021
Debt Instrument [Line Items]
Carrying Amount			$ 600.0
Estimated Fair Value	$ 52.0	$ 9.6
Level 2 Member
Debt Instrument [Line Items]
Carrying Amount	981.7	978.0
Estimated Fair Value	901.9	912.5
Senior Notes [Member] \| Level 2 Member
Debt Instrument [Line Items]
Carrying Amount	395.0	395.6
Estimated Fair Value	$ 326.9	337.2
Debt due date	2029
Term Loan [Member] \| Level 2 Member
Debt Instrument [Line Items]
Carrying Amount	$ 586.7	582.4
Estimated Fair Value	$ 575.0	$ 575.3
Debt due date	2028

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021	Jun. 27, 2020
Income Tax Disclosure [Line Items]
Net deferred tax assets	$ 28.9	$ 4.2
Valuation allowance	78.4	75.0
Net decrease in valuation allowance	3.4
Accumulated foreign earnings	200.0
Gross unrecognized tax benefits	43.7	29.8	$ 22.6	$ 20.1
Gross unrecognized tax benefits increased during the year			$ 13.9
Unrecognized tax benefit, reduction of effective tax rate if recognized	33.1
Increase (decrease) in interest and penalties accrued related to unrecognized tax benefits	0.5	0.8
Interest and penalties accrued related to unrecognized tax benefits	3.0	2.5
Estimated decrease in unrecognized tax benefit in next 12 months	1.4
Estimated increase in unrecognized tax benefit in next 12 months	8.8
Undistributed earnings	46.0
Capital loss carryforward	34.1	33.8
Deferred tax liability unremitted foreign earnings	14.3	22.1
Deferred Tax Asset [Member]
Income Tax Disclosure [Line Items]
Capital loss carryforward		$ 16.0
Federal [Member]
Income Tax Disclosure [Line Items]
Net operating loss carryforwards	$ 28.7
Net operating loss, beginning of expiration period	2037
Tax credit carryforward, amount	$ 16.4
CALIFORNIA
Income Tax Disclosure [Line Items]
Net operating loss carryforwards	25.0
State and Local Jurisdiction [Member]
Income Tax Disclosure [Line Items]
Tax credit carryforward, amount	53.4
Foreign [Member]
Income Tax Disclosure [Line Items]
Net operating loss carryforwards	$ 49.6
Net operating loss, beginning of expiration period	2027

Income Taxes - Significant Components of Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022
Deferred tax assets:
Capital loss carryforward	$ 34.1	$ 33.8
Inventory write downs	1.9	2.6
Property and equipment	42.1	11.7
Share-based compensation	10.3	12.0
Nondeductible Interest	4.9	5.4
Business credit carryforward	45.1	62.0
Lease liabilities	10.1	11.2
Net operating loss carryforward	10.8	16.3
Other accruals	5.1	5.6
Deferred Tax Assets, Gross	164.4	160.6
Valuation allowance	(78.4)	(75.0)
Deferred Tax Assets, Net	86.0	85.6
Deferred tax liabilities:
Property and equipment	(1.9)	(2.0)
Right-of-use assets	9.5	11.5
Unremitted foreign earnings	(14.3)	(22.1)
Acquisition intangibles	(31.4)	(45.8)
Deferred tax liabilities, Total	(57.1)	(81.4)
Net deferred tax assets	$ 28.9	$ 4.2

Share-Based Compensation - Employee Stock Purchase Plan - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation costs for stock options granted	$ 6.3
Period over which share-based compensation is amortized duration	8 months
2019 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock purchases under Employee Stock Purchase Plan as a percentage of employee compensation, maximum, subject to legal restrictions and limitations	15.00%
Employee common stock purchases through payroll deductions under Employee Stock Purchase Plan, price as a percentage of fair market value	85.00%
Offering period extends under Employee Stock Purchase Plan	up to one year
Fair value of each award granted	$ 40.70	$ 38.93	$ 20.82
2019 Employee Inducement Equity Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Earlier Options vesting period	1 year

Organization and Summary of Significant Accounting Policies

12 Months Ended

Jun. 24, 2023

Accounting Policies [Abstract]

Organization and Summary of Significant Accounting Policies

1. Organization and Summary of Significant Accounting Policies

Organization

We are a leading worldwide developer and fabless supplier of premium mixed signal semiconductor solutions changing the way humans engage with connected devices and data, engineering exceptional experiences throughout the home, at work, in the car and on the go. Our current served markets include Internet of Things, or IoT, personal computer, or PC, and Mobile. We deliver complete chip, firmware and software semiconductor solutions that allow our customers to seamlessly integrate advanced functions into their end products.

Basis of Presentation and Principles of Consolidation

Our fiscal year is the 52- or 53-week period ending on the last Saturday in June. Accordingly, every fifth or sixth fiscal year will have a 53-week period. The additional week in a 53-week year is added to the first quarter, making such quarter a 14-week period. The fiscal years presented in this report were 52-week periods ended June 24, 2023, June 25, 2022, and June 26, 2021.

The consolidated financial statements are presented in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, and 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

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, 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.

Cash Equivalents and Investments

Cash equivalents consist of highly liquid investments with original maturities of three months or less at the time of purchase. Our cash equivalents as of the end of fiscal 2023 and 2022 consisted of bank deposits and money market funds with a fair value of $924.7 million and $824.0 million, respectively.

Short-Term Investments

We classify our investments in debt securities as available-for-sale and record these investments at fair value. Investments with an original maturity of three months or less at the date of purchase are considered cash equivalents, while all other investments are classified as short-term based on management’s intent and ability to use the funds in current operations. Unrealized gains and losses are reported as a component of other comprehensive income (loss). Realized gains and losses are determined based on the specific identification method, and are reflected as other income (expense), net in our Consolidated Statements of Operations.

We regularly review our investment portfolio to identify and evaluate investments that have indicators of possible impairment. Some of the factors we consider include, but are not limited to, the following: the length of time and extent a security’s fair value has been below its cost, the financial condition and near-term prospects of the investee, the credit quality of the security’s issuer, likelihood of recovery and our intent and ability to hold the security for a period of time sufficient to allow for any anticipated recovery in value. For our debt instruments, we also evaluate whether we have the intent to sell the security or it is more likely than not that we will be required to sell the security before recovery of its cost basis.

Fair Value Measurements

We apply fair value accounting for all financial assets and liabilities that are required to be recognized or disclosed at fair value in the Consolidated Financial Statements. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When

determining the fair value measurements for assets and liabilities, we consider the principal or most advantageous market in which we would transact, and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk. The carrying amounts reported in the consolidated financial statements approximate the fair value for cash, accounts receivable, accounts payable and accrued liabilities due to their short-term nature.

Intangible assets, property and equipment, and goodwill are measured at fair value on a non-recurring basis if impairment is indicated. The interest rate on our bank debt is variable, which is subject to change from time-to-time to reflect a market interest rate; accordingly, the carrying value of our bank debt approximates fair value.

Concentration of Credit Risk

Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash equivalents, investments, and accounts receivable. Our investment policy, which is predicated on capital preservation and liquidity, limits investments to U.S. government treasuries and agency issues, taxable securities, and municipal issued securities with a minimum rating of investment grade by the rating agencies.

We sell our products to contract manufacturers that provide manufacturing services for OEMs, to some OEMs directly, and to distributors. We extend credit based on an evaluation of a customer’s financial condition, and we generally do not require collateral.

The following customers accounted for more than 10% of our accounts receivable balance as of the end of fiscal 2023 and 2022:


	2023	2022
Customer A	10%	17%
Customer B	20%	15%

Other Concentrations

Our products include certain components that are currently single sourced. We believe other vendors would be able to provide similar components, however, the qualification of such vendors may require additional lead time. In order to mitigate any potential adverse impact from a supply disruption, we strive to maintain an adequate supply of critical single-sourced components.

Revenue Recognition

Our revenue is primarily generated from the sale of ASIC chips, either directly to a customer or to a distributor. 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. Non-product revenue is recognized over the same period of time such performance obligations are satisfied. We then select an appropriate method for measuring satisfaction of the performance obligations.

Rights to our intellectual property, or IP, are either sold or licensed to customers. Revenue recognition from the licensing of our IP is dependent on the nature and terms of each agreement. We recognize revenue from the licensing of our IP upon delivery of the IP if there are no substantive future obligations to perform under the arrangement. Sales-based or usage-based royalties from the license of IP are recognized at the later of the period the sale or usage occurs, or the satisfaction of the performance obligation to which some or all of the sales-based or usage-based royalties have been allocated.

Revenue from sales to distributors is recognized upon shipment of the product to the distributors (sell-in basis). Master sales agreements are in place with certain customers, and these agreements typically contain terms and conditions with respect to payment, delivery, warranty and supply. In the absence of a master sales agreement, we consider a customer's purchase order or our standard terms and conditions to be the contract with the customer.

Our pricing terms are negotiated independently, on a stand-alone basis. In determining the transaction price, we evaluate whether the price is subject to refund or adjustment to determine the net consideration which we expect to receive for the sale of such products. In limited situations, we make sales to certain customers under arrangements where we grant stock rotation rights, price protection and price allowances; variable consideration associated with these rights is expected to be inconsequential. These adjustments and incentives are accounted for as variable consideration, classified as other current liabilities under the revenue standard and are shown as customer obligations in other accrued liabilities on our consolidated balance sheets. We estimate the amount of variable consideration for such arrangements based on the expected value to be provided to customers, and we do not believe that there will be significant changes to our estimates of variable consideration. When incentives, stock rotation rights, price protection, volume discounts, or price allowances are applicable, they are estimated and recorded in the period the related revenue is recognized. Stock rotation reserves are based on historical return rates applied to distributor inventory subject to stock rotation rights and recorded as a reduction to revenue with a corresponding reduction to cost of goods sold for the estimated cost of inventory that is expected to be returned and recorded as prepaid expenses and other current assets. In limited circumstances, we enter into volume-based tiered pricing arrangements and we estimate total unit volumes under such arrangement to determine the expected transaction price for the units expected to be transferred. Such arrangements are accounted for as contract liabilities within other accrued liabilities. Sales returns liabilities are recorded as refund liabilities within other accrued liabilities.

Our accounts receivable balance is from contracts with customers and represents our unconditional right to receive consideration from customers. Payments are generally due within three months of completion of the performance obligation and subsequent invoicing and, therefore, do not include significant financing components. There was $1.3 million of contract assets (i.e., unbilled accounts receivable, deferred commissions) recorded on the consolidated balance sheets as of June 2023, and $1.2 million as of June 2022. Contract assets are presented as part of prepaid expenses and other current assets. Contract liabilities and refund liabilities were $18.7 million and $39.8 million, respectively, as of June 2023, and $27.3 million and $61.3 million, respectively, as of June 2022. Both contract liabilities and refund liabilities are presented as part of customer obligations in other accrued liabilities on our consolidated balance sheets. During fiscal 2023 and 2022, we recognized $21.9 million and $3.6 million, respectively, in revenue related to contract liabilities outstanding as of the beginning of each such fiscal year.

We invoice customers for each delivery upon shipment and recognize revenue in accordance with delivery terms. As of June 2023, we did not have any remaining unsatisfied performance obligations with an original duration greater than one year. Accordingly, under the optional exception provided by the ASC, we do not disclose revenues allocated to future performance obligations of partially completed contracts. We have elected to account for shipping and handling costs as fulfillment costs before the customer obtains control of the goods. We continue to classify shipping and handling costs as a cost of revenue. We have elected to continue to account for collection of all taxes on a net basis.

We incur commission expense that is incremental to obtaining contracts with customers. Sales commissions (which are recorded in the selling, general and administrative expense line item in the consolidated statements of operations) are expensed when the product is shipped because such commissions are incurred after the product has been shipped.

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

Advertising Costs

Advertising costs, if any, are expensed when incurred.

Allowance for Credit Losses

We maintain allowances for credit losses resulting from the inability of customers to meet their financial obligations. On an ongoing basis, we evaluate the collectability of accounts receivable based on a combination of factors. In circumstances in which we are aware of a specific customer’s potential inability to meet its financial obligation, we record a specific reserve of the credit loss against amounts due. In addition, we make judgments and estimates on the collectability of accounts receivable based on our historical bad debt experience, customers’ creditworthiness, current economic trends, recent changes in customers’ payment trends, and deterioration in customers’ operating results or financial position. If circumstances change adversely, additional credit loss allowances may be required. At June 2023 and June 2022, the allowance for credit losses on our trade receivables was $5.0 million and $6.0 million, respectively.

Cost of Revenue

Our cost of revenue includes the cost of products shipped to our customers, which primarily includes the cost of products built to our specifications by our contract manufacturers, the cost of silicon wafers supplied by independent semiconductor

wafer manufacturers, and the related assembly, package, and test costs of our products. Also included in our cost of revenue are personnel and related costs, including share-based compensation for quality assurance and manufacturing support personnel; logistics costs; depreciation of equipment supporting manufacturing; acquired intangibles amortization; fair value adjustments associated with acquired businesses; inventory write-downs and losses on purchase obligations; and warranty costs.

Inventories

Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value as of the end of fiscal 2023 and 2022, and consisted of the following (in millions):


	2023		2022
Raw materials and work-in-progress	$	70.5	$	92.2
Finished goods		66.7		77.5
	$	137.2	$	169.7

Inventories are recorded at standard cost, which approximates actual cost computed on a first-in, first-out basis. 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 OEM customers of any product offerings incorporating our product solutions.

Property and Equipment

We state property and equipment at cost less accumulated depreciation and amortization. We compute depreciation using the straight-line method over the estimated useful lives of the assets. We amortize leasehold improvements over the shorter of the lease term or the estimated useful life of the asset.

Foreign Currency

The U.S. dollar is our functional and reporting currency. We remeasure our monetary assets and liabilities not denominated in our functional currency into U.S. dollar equivalents at the rate of exchange in effect on the balance sheet date. We measure and record non-monetary balance sheet accounts at the historical rate in effect at the date of transaction. We remeasure foreign currency expenses at the weighted average exchange rate in the month that the transaction occurred. These foreign currency transactions and remeasurement gains and losses, resulted in a net loss of $2.3 million in fiscal 2023, a net gain of $5.6 million in fiscal 2022 and a net loss of $1.4 million in fiscal 2021. Gains and losses resulting from foreign currency transactions are included in selling, general, and administrative expenses in the consolidated statements of operations.

Goodwill

Goodwill represents the excess of the purchase price of an acquired business over the identifiable assets acquired and liabilities assumed. We test for impairment of goodwill on an annual basis in the fourth quarter and at any other time when events occur or circumstances indicate that the carrying amount of goodwill may not be recoverable. We have the option to first assess qualitative factors to determine whether it is necessary to perform the quantitative goodwill impairment test. The qualitative factors we assess include long-term prospects of our performance, share price trends and market capitalization, and Company specific events. Unanticipated events and circumstances may occur that affect the accuracy of our assumptions, estimates and judgments.

If we determine that as a result of the qualitative assessment that it is more likely than not (i.e., greater than 50% likelihood) that the fair value of a reporting unit is less than its carrying amount, then the quantitative test is required. Otherwise, no further testing is required. The quantitative goodwill impairment test requires us to estimate the fair value of our reporting units. If the carrying value of a reporting unit exceeds its fair value, the goodwill of that reporting unit is potentially impaired and we record an impairment loss equal to the excess of the carrying value of the reporting unit over its fair value, not to exceed the carrying amount of goodwill. The fair value of each of our goodwill reporting units is generally estimated using discounted cash flow methodologies.

We elected not to perform the qualitative assessment and performed the quantitative goodwill impairment test in fiscal 2023. Based on the impairment analysis performed in the fourth quarter of each year presented, the fair value of our reporting units exceeded their carrying values and no goodwill impairment was recognized.

Intangible Assets

Intangible assets consist primarily of intangible assets purchased through acquisitions. Finite-lived intangible assets are amortized for financial reporting purposes using the straight-line method over the estimated useful lives of the assets ranging from 1 to 6 years. Indefinite-lived intangible assets are not amortized but tested annually for impairment in the fourth quarter, or when events or changes in circumstances indicate that indefinite-lived intangible assets might be impaired.

Impairment of Long-Lived Assets

We evaluate long-lived assets, such as property and equipment and intangible assets subject to amortization, for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. We measure recoverability of assets to be held and used by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. We review the carrying value of indefinite-lived intangible assets for impairment at least annually during the last quarter of our fiscal year, or more frequently if we believe indicators of impairment exist. If the carrying amount of the asset exceeds its estimated undiscounted future cash flows, we recognize an impairment charge in an amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of would be separately presented in the consolidated balance sheets and reported at the lower of the carrying amount or fair value less costs to sell and would no longer be depreciated. The assets and liabilities of a disposed group classified as held for sale would be presented separately in the appropriate asset and liability sections of the consolidated balance sheets. No impairment of long-lived assets was recognized for fiscal 2023, 2022, and 2021.

Leases

We determine if an arrangement is a lease at inception. Operating lease right-of-use (“ROU”) assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Operating lease ROU assets also include any initial direct costs and prepayments less lease incentives. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. As our leases do not provide an implicit rate, we use our collateralized incremental borrowing rate based on the information available at the lease commencement date, including lease term, in determining the present value of lease payments. Lease expense for these leases is recognized on a straight-line basis over the lease term.

We have elected, for all classes of underlying assets, not to recognize ROU assets and lease liabilities for leases with a term of twelve months or less. Lease cost for short-term leases is recognized on a straight-line basis over the lease term.

Other Accrued Liabilities and Other Long-Term Liabilities

As of the end of fiscal 2023 and 2022, other accrued liabilities consisted of the following (in millions):


	2023		2022
Customer obligations	$	58.5	$	88.6
Inventory obligations		7.0		14.1
Operating lease liabilities		9.0		7.6
Other		33.9		35.0
	$	108.4	$	145.3

As of the end of fiscal 2023 and 2022, other long-term accrued liabilities consisted of the following (in millions):



	2023		2022
Operating lease liabilities, long-term	$	42.4	$	51.5
Deferred tax liability		39.1		52.6
Income taxes payable, long-term		38.1		29.1
Other		16.3		19.4
	$	135.9	$	152.6

Share-Based Compensation

We charge the estimated fair value less actual forfeitures to earnings on a straight-line basis over the vesting period of the entire underlying award, which is generally three or four years for our restricted stock units, or RSU, awards, three years for our market stock units, or MSU, awards, three years for our performance stock units, or PSU, awards, and up to one year for shares purchased under our 2019 employee stock purchase plan.

We estimate the fair value of market-based MSUs at the date of grant using a Monte Carlo simulation model and amortize those fair values over the requisite service period, which is generally three years. The Monte Carlo simulation model that we use to estimate the fair value of market-based MSUs at the date of grant incorporates into the valuation the possibility that the market condition may not be satisfied. Provided that the requisite service is rendered, the total fair value of the market-based MSUs at the date of grant must be recognized as compensation expense even if the market condition is not achieved. However, the number of shares that ultimately vest can vary significantly with the performance of the specified market criteria.

We recognize compensation expense for phantom stock units on a straight-line basis for each tranche of each award based on the average closing price of our common stock over the thirty calendar days ended prior to each balance sheet date. As our phantom stock is a cash-settled award, it is recorded as a liability and remeasured each reporting period.

Income Taxes

We account for income taxes under the asset and liability method. We recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and tax credit carryforwards. We measure deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. We recognize the effect of a change in tax rates in income on deferred tax assets and liabilities in the period that includes the enactment date. We establish valuation allowances when necessary to reduce deferred tax assets to the amounts that are more likely than not to be realized.

We use a two-step approach to recognizing and measuring uncertain tax positions. The first step is to determine whether it is more-likely-than-not that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement with a taxing authority. The calculation of tax liabilities involves significant judgment in estimating the impact of uncertainties in the application of highly complex tax laws. Resolution of these uncertainties in a manner inconsistent with our expectations could have a material impact on our consolidated financial position, results of operations, and cash flows. We believe we have adequately provided for reasonably foreseeable outcomes in connection with the resolution of income tax uncertainties. However, our results have in the past, and could in the future, include favorable and unfavorable adjustments to our estimated tax liabilities in the period a determination of such estimated tax liability is made or resolved, upon the filing of an amended return, upon a change in facts, circumstances, or interpretation, or upon the expiration of a statute of limitation. Accordingly, our effective tax rate could fluctuate materially from period to period.

Product Warranty

We generally provide warranties to cover defects in workmanship, materials and manufacturing for a period of twelve months to meet the stated functionality as agreed to in each sales arrangement. Products are tested against specified functionality requirements prior to delivery, but we nevertheless from time-to-time experience claims under our warranty guarantees. These standard warranties are assurance type warranties and do not offer any services in addition to the assurance that the product will continue working as specified. Therefore, warranties are not considered separate performance obligations in the arrangement. We accrue for estimated warranty costs under those guarantees based upon historical experience, and for specific items, at the time their existence is known and the amounts are determinable.

Acquisitions

In accordance with the guidance for business combinations, we determine whether a transaction or other event is a business combination, which requires that the assets acquired and liabilities assumed constitute a business. Each business combination is then accounted for by applying the acquisition method. If the assets acquired are not a business, we account for the transaction or other event as an asset acquisition. Under both methods, we recognize the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquired entity. We capitalize acquisition-related costs and fees associated with asset acquisitions and immediately expense acquisition-related costs and fees associated with business combinations.

We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. When determining the fair values of assets acquired and liabilities assumed, we make significant estimates and assumptions, especially with respect to intangible assets. Critical estimates in valuing certain intangible assets include, but are not limited to, future expected cash flows from customer relationships and acquired developed technology and discount rates. Our estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ materially from estimates. Other estimates associated with the accounting for acquisitions may change as additional information becomes available regarding the assets acquired and liabilities assumed. Any change in facts and circumstances that existed as of the acquisition date and impacts our preliminary estimates is recorded to goodwill if identified within the measurement period. Any adjustments subsequent to the measurement period or our final determination of fair value of assets and liabilities, will be charged to earnings.

Research and Development

Research and development costs are expensed as incurred.

Accounting Pronouncements Issued But Not Yet Adopted

In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. ASU 2022-06 defers the sunset date of Topic 848 from December 31, 2022 to December 31, 2024. Effective March 16, 2023, we transitioned our credit and loan agreements from LIBOR to the Secured Overnight Financing Rate, or SOFR. We are currently evaluating the timing of adoption and impact, if any, of this standard on our consolidated financial statements.

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. We will adopt this standard in the first quarter of our fiscal 2024 and do not expect it to have a material impact on our consolidated financial statements.

Consolidated Statements of Stockholders Equity - 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. 27, 2020	$ 819.1	$ 0.1	$ 1,340.2	$ (1,222.6)		$ 701.4
Balance, shares at Jun. 27, 2020		65,871,648
Net income	79.6					79.6
Issuance of common stock for share-based award compensation plans	27.8		27.8
Issuance of common stock for share-based award compensation plans, shares		1,091,358
Treasury stock issued for redemption of convertible notes	$ 0.3		$ 17.5	17.2
Payroll taxes related to net share settlement of share-based awards	(28.3)		(28.3)
Share Based Compensation Attributable To Acquisition	$ 3.2		$ 3.2
Share-based compensation	66.1		66.1
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	257.5					257.5
Issuance of common stock for share-based award compensation plans	15.2		15.2
Issuance of common stock for share-based award compensation plans, shares		782,794
Treasury stock issued for redemption of convertible notes	$ 6.9		$ (517.8)	510.9
Payroll taxes related to net share settlement of share-based awards	(67.3)		(67.3)
Other comprehensive loss	$ (1.8)				$ (1.8)
Share Based Compensation Attributable To Acquisition	1.7		$ 1.7
Share-based compensation	100.8		100.8
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	73.6					73.6
Issuance of common stock for share-based award compensation plans	$ 17.6		$ 17.6
Issuance of common stock for share-based award compensation plans, shares		941,711
Payroll taxes related to net share settlement of share-based awards	(54.5)		(54.5)
Other comprehensive income	$ 1.8				$ 1.8
Common stock repurchased	(183.5)			183.5
Share-based compensation	122.0		$ 122.0
Balance, value at Jun. 24, 2023	$ 1,243.4	$ 0.1	$ 1,009.2	$ (878.0)		$ 1,112.1
Balance, shares at Jun. 24, 2023		68,687,511

Acquisitions - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Business Acquisition [Line Items]
Goodwill	$ 816.4	$ 806.6	$ 570.0
DSP Group, Inc [Member]
Business Acquisition [Line Items]
Cash and cash equivalents		40.5
Short-term investments		71.9
Accounts receivable, net		12.9
Inventory		22.6
Prepaid expenses and other current assets		4.0
Property and equipment		5.9
Intangible assets		212.0
Right-of-use lease asset		9.8
Severance pay fund		16.2
Deferred tax asset		6.7
Non-current other assets		2.3
Total identifiable assets acquired		404.8
Accounts payable		(6.7)
Other accrued liabilities		(19.8)
Short-term lease liabilities		(1.5)
Long-term lease liabilities		(8.2)
Accrued severance		(16.4)
Deferred tax liability		(39.4)
Other long-term liabilities		(6.1)
Total liabilities		(98.1)
Net identifiable assets acquired		306.7
Goodwill		236.6
Net assets acquired		$ 543.3

Stockholders' Equity

12 Months Ended

Jun. 24, 2023

Equity [Abstract]

Stockholders' Equity

11. Stockholders’ Equity

Preferred Stock

We are authorized, subject to limitations imposed by Delaware law, to issue up to a total of 10,000,000 shares of preferred stock in one or more series without stockholder approval. Our Board of Directors has the power to establish, from time-to-time, the number of shares to be included in each series and to fix the rights, preferences, and privileges of the shares of each wholly unissued series and any of its qualifications, limitations, or restrictions. Our Board of Directors can also increase or decrease the number of shares of a series, but not below the number of shares of that series then outstanding, without any further vote or action by the stockholders.

Our Board of Directors may authorize the issuance of preferred stock with voting or conversion rights that could harm the voting power or other rights of the holders of our common stock. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring, or preventing a change in control of our company and might harm the market price of our common stock and the voting power and other rights of the holders of our common stock. As of the end of fiscal 2023, there were no shares of preferred stock outstanding.

Shares Reserved for Future Issuance

Shares of common stock reserved for future issuance as of the end of fiscal 2023 were as follows:


Stock options outstanding			3,083
Restricted stock units outstanding			1,304,926
Market stock units outstanding			227,321
Performance stock units outstanding			253,359
Awards available for grant under all share-based compensation plans			3,994,824
Reserved for future issuance			5,783,513

Treasury Stock

Our cumulative authorization of repurchases under our common stock repurchase program as of the end of fiscal 2023 was $2.3 billion expiring July 2025. The program authorizes us to repurchase our common stock in the open market or in privately negotiated transactions depending upon market conditions and other factors. The number of shares repurchased and the timing of repurchases is based on the level of our cash balances, general business and market conditions, and other factors, including alternative investment opportunities. Common stock repurchased under this program is held as treasury stock. As of the end of fiscal 2023, we had $893.9 million of common stock remaining to be repurchased under our common stock repurchase program.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
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-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

+ Details

Share-Based Compensation - Market Stock Units - Additional Information (Detail) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Jun. 24, 2023 USD ($) $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares withheld to meet statutory minimum tax withholding requirements \| shares	1.3
Market stock units outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of the underlying awards	3 years
Earlier Options vesting period	3 years
Shares withheld to meet statutory minimum tax withholding requirements \| shares	18.5
Shares valued withheld to meet statutory minimum tax withholding requirements \| $	$ 0.2
Closing price of common stock used to calculate Aggregate intrinsic value of stock option outstanding \| $ / shares	$ 81.16
Unrecognized share-based compensation cost \| $	$ 22.3
Unrecognized share-based compensation, period for recognition	8 months 23 days
Market stock units outstanding [Member] \| Fiscal 2020 MSU Grants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
SOX Index TSR percentage points	84.53%
Market stock units outstanding [Member] \| Fiscal 2021 MSU Grants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of targeted shares, MSU grants	200.00%
Market stock units outstanding [Member] \| Fiscal 2022 MSU Grant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of targeted shares, MSU grants	200.00%
TSR percentile relative to Russell two thousand index	84
Market stock units outstanding [Member] \| October2020 M S U Grants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of targeted shares, MSU grants	200.00%
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] \| Minimum [Member] \| Fiscal 2020 MSU Grants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	0.00%
Market stock units outstanding [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	300.00%
Market stock units outstanding [Member] \| Maximum [Member] \| Fiscal 2020 MSU Grants [Member]
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
Earlier Options vesting period	1 year
Market stock units outstanding [Member] \| Share-based Compensation Award, First Tranche [Member] \| Three-Year Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of the underlying awards	3 years
Earlier Options vesting period	3 years
Market stock units outstanding [Member] \| Share-based Compensation Award, First Tranche [Member] \| Maximum [Member] \| 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, Second Tranche [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of the underlying awards	2 years
Earlier Options vesting period	2 years
Market stock units outstanding [Member] \| Share-based Compensation Award, Second Tranche [Member] \| Maximum [Member]
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 [Member] \| 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, Third Tranche [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of the underlying awards	3 years
Earlier Options vesting period	3 years
Market stock units outstanding [Member] \| Share-based Compensation Award, Third Tranche [Member] \| Maximum [Member]
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, Third Tranche [Member] \| Maximum [Member] \| 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
Earlier Options vesting period	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 Above 80 [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 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] \| Fiscal 2021 MSU Grants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	100.00%
Market stock units outstanding [Member] \| TSR [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] \| TSR [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	200.00%

Share-Based Compensation - Share-Based Compensation, Cash-Based Awards and Related Tax Benefit Recognized in Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Stock-based awards [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	$ 122.0	$ 100.8	$ 66.1
Income tax benefit on share-based compensation	13.2	23.1	15.2
Phantom Stock Unit [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	0.6	32.1	27.0
Cost of Revenue [Member] \| Stock-based awards [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	4.0	4.0	3.0
Cost of Revenue [Member] \| Phantom Stock Unit [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	0.0	0.2	0.4
Research and Development [Member] \| Stock-based awards [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	52.4	42.5	23.5
Research and Development [Member] \| Phantom Stock Unit [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	0.3	27.2	21.9
Selling, General, and Administrative [Member] \| Stock-based awards [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	65.6	54.3	39.6
Selling, General, and Administrative [Member] \| Phantom Stock Unit [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total	$ 0.3	$ 4.7	$ 4.7

Share-Based Compensation - Schedule of Stock Units Activity (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 24, 2023 USD ($) $ / shares shares
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Unit Awards Outstanding, Balance at June 2022	1,220,565
Stock Unit Awards, Granted	808,153
Stock Unit Awards, Vested	(631,492)
Stock Unit Awards, Forfeited	(92,300)
Stock Unit Awards Outstanding, Balance at June 2023	1,304,926
Weighted Average Grant Date Fair Value, Balance at June 2022 \| $ / shares	$ 119.83
Weighted Average Grant Date Fair Value, Granted \| $ / shares	129.14
Weighted Average Grant Date Fair Value, Vested \| $ / shares	115.30
Weighted Average Grant Date Fair Value, Forfeited \| $ / shares	137.60
Weighted Average Grant Date Fair Value, Balance at June 2023 \| $ / shares	$ 126.50
Market stock units outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Unit Awards Outstanding, Balance at June 2022	251,974
Stock Unit Awards, Granted	110,885
Stock Unit Awards, Performance adjustment	168,796
Stock Unit Awards, Vested	(304,334)
Stock Unit Awards Outstanding, Balance at June 2023	227,321
Weighted Average Grant Date Fair Value, Balance at June 2022 \| $ / shares	$ 138.51
Weighted Average Grant Date Fair Value, Granted \| $ / shares	179.98
Weighted Average Grant Date Fair Value, Vested \| $ / shares	104.04
Weighted Average Grant Date Fair Value, Balance at June 2023 \| $ / shares	$ 235.67
Performance stock units outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Unit Awards Outstanding, Balance at June 2022	257,903
Stock Unit Awards, Granted	157,710
Stock Unit Awards, Performance adjustment	128,622
Stock Unit Awards, Vested	(279,438)
Stock Unit Awards, Forfeited	(11,438)
Stock Unit Awards Outstanding, Balance at June 2023	253,359
Weighted Average Grant Date Fair Value, Balance at June 2022 \| $ / shares	$ 101.50
Weighted Average Grant Date Fair Value, Granted \| $ / shares	119.50
Weighted Average Grant Date Fair Value, Vested \| $ / shares	97.40
Weighted Average Grant Date Fair Value, Forfeited \| $ / shares	123.12
Weighted Average Grant Date Fair Value, Balance at June 2023 \| $ / shares	$ 125.40
Phantom Stock Unit [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Unit Awards Outstanding, Balance at June 2022	176,097
Stock Unit Awards, Paid	(173,436)
Stock Unit Awards, Forfeited	(2,661)
Stock Unit Awards Outstanding, Balance at June 2023	0
Weighted Average Grant Date Fair Value, Balance at June 2022 \| $ / shares	$ 42.11
Weighted Average Grant Date Fair Value Paid \| $ / shares	42.11
Weighted Average Grant Date Fair Value, Forfeited \| $ / shares	$ 42.11
Aggregate Intrinsic Value, Balance as of June 2023 \| $	$ 0

Acquisitions - Summary of Unaudited Pro Forma Financial Information Presents Combined Results of Operations (Detail) - DSP Group, Inc [Member] - USD ($) $ in Millions	12 Months Ended
	Jun. 25, 2022	Jun. 26, 2021
Business Acquisition [Line Items]
Revenue	$ 1,802.6	$ 1,466.0
Net income	$ 263.4	$ (6.7)

Indemnifications and Contingencies (Additional Information) (Details) $ in Millions	3 Months Ended
	Jun. 24, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Accrued Amount In Contractual Dispute	$ 4.0

Fair Value Measurements - Schedule of financial assets measured at fair value on a recurring basis (Details) - Estimate Of Fair Value Fair Value Disclosure Member - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets at fair value	$ 80.4	$ 64.1
Municipal Bonds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	3.1	7.8
Corporate Debt Securities Member
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	6.3	41.8
Money Market Funds Member
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	54.4	12.1
Certificates of Deposit Member
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0.2	2.4
Treasury bills [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	16.4	0.0
Level 1 Member
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets at fair value	70.8	12.1
Level 1 Member \| Municipal Bonds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0.0	0.0
Level 1 Member \| Corporate Debt Securities Member
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0.0	0.0
Level 1 Member \| Money Market Funds Member
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	54.4	12.1
Level 1 Member \| Certificates of Deposit Member
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0.0	0.0
Level 1 Member \| Treasury bills [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	16.4	0.0
Level 2 Member
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets at fair value	9.6	52.0
Level 2 Member \| Municipal Bonds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	3.1	7.8
Level 2 Member \| Corporate Debt Securities Member
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	6.3	41.8
Level 2 Member \| Money Market Funds Member
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0.0	0.0
Level 2 Member \| Certificates of Deposit Member
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0.2	2.4
Level 2 Member \| Treasury bills [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	$ 0.0	$ 0.0

Organization and Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions	12 Months Ended
	Jun. 24, 2023 USD ($) Segment	Jun. 25, 2022 USD ($)	Jun. 26, 2021 USD ($)	Dec. 02, 2021 USD ($)
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 924.7	$ 824.0
Debt instrument aggregate principal amounts				$ 600.0
Senior notes	9.6	52.0
Account receivable bad debt	5.0	6.0
Contract asset	1.3	1.2
Contract liability	18.7	27.3
Refund liability	39.8	61.3
Revenue recognized related to contract liabilities	$ 21.9	3.6
Description of payment terms in contract with customer	Payments are generally due within three months of completion of the performance obligation and subsequent invoicing and, therefore, do not include significant financing components.
Net gain (loss) on foreign currency transactions	$ (2.3)	$ (5.6)	$ (1.4)
Number of operating segments \| Segment	1
Performance stock units outstanding [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Earlier Options vesting period	3 years
Requisite service period		3 years
Market stock units outstanding [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Earlier Options vesting period	3 years
Requisite service period	3 years
Thin Touch Developed Technology [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Impairment of acquired intangibles	$ 0.0	$ 0.0	$ 0.0
Accounting Standards Update 2014-09 [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Remaining unsatisfied performance obligation	$ 0.0
Maximum [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Revenue, performance obligation, payment terms	3 months
Finite-Lived Intangible Asset, Useful Life	6 years
Maximum [Member] \| Restricted stock units outstanding [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Earlier Options vesting period	4 years
Maximum [Member] \| Employee stock purchase plan [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Earlier Options vesting period		1 year
Minimum [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Finite-Lived Intangible Asset, Useful Life	1 year
Minimum [Member] \| Restricted stock units outstanding [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Earlier Options vesting period			3 years

Income Taxes - Reconciliation of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Income Tax Disclosure [Abstract]
Beginning balance	$ 29.8	$ 22.6	$ 20.1
Increase in unrecognized tax benefits related to current year tax positions	13.7	7.1	5.5
Increase in unrecognized tax benefits related to prior year tax positions	2.5	5.5	0.0
Decrease due to effective settlement with tax authorities	(1.1)	0.0	0.0
Remeasurement of unrecognized tax benefits	(0.3)	(0.5)
Decrease due to statute expiration	(0.9)	(4.9)	(3.0)
Ending Balance	$ 43.7	$ 29.8	$ 22.6

Share-Based Compensation - Cash Received and Aggregate Intrinsic Value of Stock Options Exercised (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Share-Based Payment Arrangement [Abstract]
Cash received	$ 3.3	$ 5.3	$ 23.9
Aggregate intrinsic value	$ 1.6	$ 3.6	$ 8.6

Restructuring Activities

12 Months Ended

Jun. 24, 2023

Restructuring and Related Activities [Abstract]

Restructuring Activities

16. Restructuring Activities

We have 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.

The following table summarizes the restructuring activity and related charges during the periods presented (in millions):


	Years Ended
	2023			2022			2021
Balance, beginning of period	$	1.4		$	0.2		$	6.1
Charges		—			18.3			7.4
Payments		(1.4	)		(17.1	)		(13.3	)
Balance, end of period	$	—		$	1.4		$	0.2

During fiscal 2023, no restructuring charges were recorded.

During fiscal 2022, we recorded restructuring and related charges of $18.3 million in our consolidated statements of operations. The charges were for activities intended to further improve efficiencies in our operational activities and gain synergies from the DSPG acquisition. These activities from the restructuring actions taken during fiscal 2022 are complete as of the end of fiscal 2022.

During fiscal 2021, we recorded restructuring and related charges of $7.4 million in our consolidated statements of operations. The charges were for activities to gain synergies from our DisplayLink acquisition. The activities from the restructuring actions taken during fiscal 2021 were complete as of the end of fiscal 2021.

Share-Based Compensation - Performance Stock Units - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares withheld to meet statutory minimum tax withholding requirements	1.3
Performance stock units outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of the underlying awards	3 years
Vesting percentage of the underlying awards			33.33%
Shares withheld to meet statutory minimum tax withholding requirements	20.6
Shares valued withheld to meet statutory minimum tax withholding requirements	$ 0.2
Share Based Compensation Arrangement By Share Based Payment Award Intrinsic Value Closing Price	$ 81.16
Requisite service period		3 years
Unrecognized share-based compensation cost	$ 3.3
Unrecognized share-based compensation, period for recognition	8 months 1 day
Performance stock units outstanding [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	0.00%
Threshold percentage of earnings per share to trigger pay out	65.00%
Performance stock units outstanding [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage Of Potential Payout	200.00%
Threshold percentage of earnings per share to trigger pay out	135.00%

Cash, Cash Equivalents and Short-Term Investments

12 Months Ended

Jun. 24, 2023

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

Cash, Cash Equivalents and Short-Term Investments

5. Cash, Cash Equivalents and Short-Term Investments

The following table summarizes our cash, cash equivalents and short-term investments by category at June 2023 and June 2022 (in millions):

We use the specific-identification method to determine any realized gains or losses from the sale of our short-term investments classified as available-for-sale.


	June 2023							June 2022
	Amortized Cost		Gross unrealized gain (loss)			Fair Value		Amortized Cost		Gross unrealized gain (loss)			Fair Value
Cash	$	853.9	$	—		$	853.9	$	811.9	$	—		$	811.9
Cash equivalents:
Money market funds		54.4		—			54.4		12.1		—			12.1
Treasury bills		16.4		—			16.4		—		—			—
Total cash and cash equivalents	$	924.7	$	—		$	924.7	$	824.0	$	—		$	824.0
Short-term investments:
Certificates of deposit	$	0.2	$	—		$	0.2	$	2.4	$	—		$	2.4
Corporate debt securities		6.5		(0.2	)		6.3		43.7		(1.9	)		41.8
Municipal bonds		3.1		—			3.1		7.9		(0.1	)		7.8
Total short-term investments	$	9.8	$	(0.2	)	$	9.6	$	54.0	$	(2.0	)	$	52.0

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


	June 2023				June 2022
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within 1 year	$	9.8	$	9.6	$	21.0	$	20.4
Due between 1 year to 5 years		—		—		33.0		31.6
	$	9.8	$	9.6	$	54.0	$	52.0

All available-for-sale securities have been classified as current, based on management's intent and ability to use the funds in current operations.

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Income Statement [Abstract]
Net revenue	$ 1,355.1	$ 1,739.7	$ 1,339.6
Cost of revenue	639.2	796.6	728.4
Gross margin	715.9	943.1	611.2
Research and development	351.2	367.3	313.4
Selling, general, and administrative	175.0	168.4	144.9
Acquired intangibles amortization	35.4	38.7	32.7
Restructuring costs	0.0	18.3	7.4
Gain on sale of audio technology assets	0.0	0.0	(34.2)
Total operating expenses	561.6	592.7	464.2
Operating income	154.3	350.4	147.0
Interest and other income	27.2	3.0	2.9
Interest expense	(55.5)	(30.2)	(29.5)
Loss on redemption of convertible notes		(8.1)	(0.3)
Gain from sale and leaseback transaction	0.0	5.4	0.0
Income before provision for income taxes and equity investment gain (loss)	126.0	320.5	120.1
Provision for income taxes	52.4	64.6	31.4
Equity investment gain (loss)	0.0	1.6	(9.1)
Net income	$ 73.6	$ 257.5	$ 79.6
Net income per share:
Basic	$ 1.86	$ 6.60	$ 2.29
Diluted	$ 1.83	$ 6.33	$ 2.08
Shares used in computing net income per share:
Basic	39.6	39.0	34.8
Diluted	40.2	40.7	38.3

Organization and Summary of Significant Accounting Policies - Accounts Receivable Balance Percentage of Different Customers (Detail) - Accounts Receivable [Member] - Credit Concentration Risk [Member]	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022
Customer A [Member]
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage	10.00%	17.00%
Customer B [Member]
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage	20.00%	15.00%

Share-Based Compensation - Share-Based Compensation Awards Available for Grant or Issuance (Detail)	12 Months Ended
	Jun. 24, 2023 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Balance ending	3,994,824
Share-Based Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Balance beginning	4,449,604
Additional shares authorized	698,000
Transferred between plans	0
Restricted stock units granted	(808,153)
Market stock units granted	(110,885)
Performance stock units granted	(157,710)
Performance stock units performance adjustment	141,565
Market stock units performance adjustment	(168,796)
Purchases under employee stock purchase plan	(172,044)
Forfeited	103,689
Plan shares no longer available for new grants	19,554
Balance ending	3,994,824
2019 Employee Inducement Equity Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Balance beginning	0
Additional shares authorized	0
Transferred between plans	0
Restricted stock units granted	0
Market stock units granted	0
Performance stock units granted	0
Performance stock units performance adjustment	(1,334)
Market stock units performance adjustment	(20,449)
Forfeited	0
Plan shares no longer available for new grants	21,783
Balance ending	0
2019 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Balance beginning	1,070,080
Additional shares authorized	0
Transferred between plans	0
Purchases under employee stock purchase plan	(172,044)
Balance ending	898,036
DSPG Replacement Award Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Balance beginning	0
Additional shares authorized	0
Transferred between plans	0
Forfeited	2,229
Plan shares no longer available for new grants	(2,229)
Balance ending	0
2019 [Member] \| Incentive Compensation Plans [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Balance beginning	3,379,524
Additional shares authorized	698,000
Transferred between plans	5,733
Restricted stock units granted	(808,153)
Market stock units granted	(110,885)
Performance stock units granted	(157,710)
Performance stock units performance adjustment	142,899
Market stock units performance adjustment	(148,347)
Purchases under employee stock purchase plan	0
Forfeited	95,727
Plan shares no longer available for new grants	0
Balance ending	3,096,788
2010 [Member] \| Incentive Compensation Plans [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Balance beginning	0
Additional shares authorized	0
Transferred between plans	(5,733)
Forfeited	5,733
Balance ending	0

Subsequent Events

12 Months Ended

Jun. 24, 2023

Subsequent Events [Abstract]

Subsequent Events [Text Block]

17. Subsequent Events

In July 2023, we entered into an agreement with Avago Technologies International Sales PTE. Limited, or Broadcom, to acquire certain developed technology intangible assets from Broadcom for an aggregate consideration of $130.0 million. We are still in the process of evaluating the proper accounting treatment under Topic 805 on Business Combinations.

On July 21, 2023, the IRS issued Notice 2023-55 which generally allows taxpayers to defer application of elements of the 2022 foreign tax credit final regulations, and related guidance, until 2024. In our case, foreign taxes which were creditable under the prior regulations will continue to be creditable for our fiscal 2023. As this Notice was issued subsequent to our fiscal 2023 and represents a retroactive change in tax law, we anticipate recording a discrete tax benefit in the first quarter of fiscal 2024 in the amount of approximately $12 million.

Net Income Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares shares in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Share-Based Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of EPS	0.7	0.1	0.0

Segment, Customers, and Geographic Information (Tables)

12 Months Ended

Jun. 24, 2023

Net Revenue within Geographic Areas Based on Customers' Locations

Net revenue within geographic areas based on our customers’ locations for fiscal 2023, 2022, and 2021, consisted of the following (in millions):


	2023		2022		2021
China	$	485.0	$	609.1	$	524.0
Taiwan		367.4		539.4		382.6
Japan		337.7		453.1		330.7
Vietnam		61.5		11.8		3.4
Other		62.6		72.1		66.1
South Korea		35.0		39.1		28.5
United States		5.9		15.1		4.3
	$	1,355.1	$	1,739.7	$	1,339.6

Net Revenue from External Customers

Net revenue from external customers for each group of similar products for fiscal 2023, 2022, and 2021 consisted of the following (in millions):


	2023		2022		2021
IoT product applications	$	946.3	$	1,100.9	$	612.9
PC product applications		217.3		343.0		354.7
Mobile product applications		191.5		295.8		372.0
	$	1,355.1	$	1,739.7	$	1,339.6

Sales Revenue, Net [Member]

Long-Lived Assets within Geographic Areas

Long-lived assets within geographic areas as of the end of fiscal 2023 and 2022 consisted of the following (in millions):


	2023		2022
United States	$	119.1	$	118.1
Asia Pacific		195.8		196.4
EMEA		866.4		945.0
	$	1,181.3	$	1,259.5

Major Customers' Revenue as a Percentage of Total Net Revenue

Major customers’ revenue as a percentage of total net revenue for fiscal 2023, 2022, and 2021 were as follows:


	2023	2022	2021
Customer A	10%	12%	10%
Customer B	*	13%	13%
Customer C	*	*	14%

* Less than 10%

Restructuring Activities (Tables)

12 Months Ended

Jun. 24, 2023

Restructuring and Related Activities [Abstract]

Restructuring Liability Activities

The following table summarizes the restructuring activity and related charges during the periods presented (in millions):


	Years Ended
	2023			2022			2021
Balance, beginning of period	$	1.4		$	0.2		$	6.1
Charges		—			18.3			7.4
Payments		(1.4	)		(17.1	)		(13.3	)
Balance, end of period	$	—		$	1.4		$	0.2

During fiscal 2023, no restructuring charges were recorded.

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

12 Months Ended

Jun. 24, 2023

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 June 2023 and June 2022 (in millions):

We use the specific-identification method to determine any realized gains or losses from the sale of our short-term investments classified as available-for-sale.


	June 2023							June 2022
	Amortized Cost		Gross unrealized gain (loss)			Fair Value		Amortized Cost		Gross unrealized gain (loss)			Fair Value
Cash	$	853.9	$	—		$	853.9	$	811.9	$	—		$	811.9
Cash equivalents:
Money market funds		54.4		—			54.4		12.1		—			12.1
Treasury bills		16.4		—			16.4		—		—			—
Total cash and cash equivalents	$	924.7	$	—		$	924.7	$	824.0	$	—		$	824.0
Short-term investments:
Certificates of deposit	$	0.2	$	—		$	0.2	$	2.4	$	—		$	2.4
Corporate debt securities		6.5		(0.2	)		6.3		43.7		(1.9	)		41.8
Municipal bonds		3.1		—			3.1		7.9		(0.1	)		7.8
Total short-term investments	$	9.8	$	(0.2	)	$	9.6	$	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):


	June 2023				June 2022
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within 1 year	$	9.8	$	9.6	$	21.0	$	20.4
Due between 1 year to 5 years		—		—		33.0		31.6
	$	9.8	$	9.6	$	54.0	$	52.0

Segment, Customers, and Geographic Information - Major Customers' Revenue as a Percentage of Total Net Revenue (Detail) - Sales Revenue, Net [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Customer A [Member]
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage	10.00%	12.00%	10.00%
Customer B [Member]
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage		13.00%	13.00%
Customer C [Member]
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage			14.00%

Goodwill and Acquired Intangible Assets - Summary of Life, Gross Carrying Value of Acquired Intangible Assets, and Related Accumulated Amortization (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life in Years	4 years 10 months 24 days
Gross Carrying Value	$ 723.3	$ 699.7
Accumulated Amortization	(424.8)	(309.7)
Net Carrying Value	$ 298.5	390.0
Audio and Video Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life in Years	5 years 7 months 6 days
Gross Carrying Value	$ 231.9	232.1
Accumulated Amortization	(150.7)	(109.3)
Net Carrying Value	$ 81.2	122.8
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life in Years	4 years 1 month 6 days
Gross Carrying Value	$ 158.2	170.5
Accumulated Amortization	(117.8)	(99.7)
Net Carrying Value	$ 40.4	70.8
Wireless and Connectivity Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life in Years	5 years 9 months 18 days
Gross Carrying Value	$ 158.0	128.0
Accumulated Amortization	(58.0)	(33.8)
Net Carrying Value	$ 100.0	94.2
Video Interface Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life in Years	3 years
Gross Carrying Value	$ 82.0	82.0
Accumulated Amortization	(79.7)	(52.4)
Net Carrying Value	$ 2.3	29.6
Human Presence Detection Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life in Years	5 years
Gross Carrying Value	$ 5.2
Accumulated Amortization	(0.7)
Net Carrying Value	$ 4.5
Licensed Technology and Other [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life in Years	4 years 4 months 24 days
Gross Carrying Value	$ 10.8	9.9
Accumulated Amortization	(8.9)	(7.5)
Net Carrying Value	$ 1.9	2.4
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life in Years	8 years
Gross Carrying Value	$ 4.4	4.4
Accumulated Amortization	(4.3)	(3.7)
Net Carrying Value	$ 0.1	0.7
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life in Years	4 years 4 months 24 days
Gross Carrying Value	$ 5.8	5.8
Accumulated Amortization	(4.7)	(3.3)
Net Carrying Value	1.1	2.5
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

Net Income Per Share (Tables)

12 Months Ended

Jun. 24, 2023

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Income Per Share

The computation of basic and diluted net income per share for fiscal 2023, 2022, and 2021 was as follows (in millions, except per share amounts):


	2023		2022		2021
Numerator:
Net income	$	73.6	$	257.5	$	79.6
Denominator:
Shares, basic		39.6		39.0		34.8
Effect of dilutive share-based awards and convertible notes		0.6		1.7		3.5
Shares, diluted		40.2		40.7		38.3
Net income per share:
Basic	$	1.86	$	6.60	$	2.29
Diluted	$	1.83	$	6.33	$	2.08

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Diluted net income per share does not include the effect of potential common shares related to certain share-based awards for fiscal 2023, 2022, and 2021 as follows (in millions):


	2023		2022		2021
Share-based awards		0.7		0.1		—

Leases (Tables)

12 Months Ended

Jun. 24, 2023

Leases Commitments And Contingencies [Abstract]

Schedule of Components of Leases

As of the end of fiscal 2023 and 2022, the components of leases are as follows (in millions):


	2023		2022
Operating lease right-of-use assets	$	49.0	$	61.2
Operating lease liabilities	$	9.0	$	7.6
Operating lease liabilities, long-term		42.4		51.5
Total operating lease liabilities	$	51.4	$	59.1

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases is as follows (in millions):


	2023		2022
Cash paid for operating leases included in operating cash flows	$	10.6	$	12.5
Supplemental non-cash information related to lease liabilities arising from obtaining right-of-use assets		7.3		42.5

Schedule of Future Minimum Lease Payments for Operating Leases

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


	Operating
	Lease
Fiscal Year	Payments
2024	$	10.3
2025		9.9
2026		8.4
2027		7.4
2028		5.9
Thereafter		20.2
Total future minimum operating lease payments		62.1
Less: interest		(10.7	)
Total lease liabilities	$	51.4

Stockholders' Equity - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022
Class Of Stock [Line Items]
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares outstanding	0	0
Stock repurchase program authorized amount	$ 2,300.0
Common stock repurchase program expiry date	Jul. 31, 2025
Stock repurchase program remaining authorized amount	$ 893.9

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022
Current Assets:
Cash and cash equivalents	$ 924.7	$ 824.0
Short-term investments	9.6	52.0
Accounts receivable, net of allowance for credit losses of $5.0 and $6.0 at June 2023 and 2022, respectively	163.9	322.1
Inventories	137.2	169.7
Prepaid expenses and other current assets	36.6	35.6
Total current assets	1,272.0	1,403.4
Property and equipment, net	66.4	62.9
Goodwill	816.4	806.6
Acquired intangibles, net	298.5	390.0
Right-of-use assets	49.0	61.2
Non-current other assets	109.1	134.0
Total assets	2,611.4	2,858.1
Current Liabilities:
Accounts payable	45.8	141.8
Accrued compensation	45.9	90.6
Income taxes payable	54.0	79.7
Other accrued liabilities	108.4	145.3
Current portion of long-term debt	6.0	6.0
Total current liabilities	260.1	463.4
Long-term debt	972.0	975.7
Other long-term liabilities	135.9	152.6
Total liabilities	1,368.0	1,591.7
Commitments and contingencies
Stockholders' Equity:
Preferred stock: $0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding	0.0	0.0
Common stock: $0.001 par value; 120,000,000 shares authorized, 68,687,511 and 67,745,800 shares issued, and 38,571,072 and 39,621,179 shares outstanding, at June 2023 and 2022, respectively	0.1	0.1
Additional paid-in capital	1,009.2	924.1
Treasury stock: 30,116,439 and 28,124,621 common shares at June 2023 and 2022, respectively, at cost	(878.0)	(694.5)
Accumulated other comprehensive loss	0.0	(1.8)
Retained earnings	1,112.1	1,038.5
Total stockholders' equity	1,243.4	1,266.4
Liabilities and stockholders' equity	$ 2,611.4	$ 2,858.1

Fair Value Measurements

12 Months Ended

Jun. 24, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

6. 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.

The fair value of our Level 1 financial instruments are traded in active markets and are 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 the end of June 2023 and 2022, financial assets measured at fair value on a recurring basis are summarized below (in millions):


	June 2023						June 2022
	Level 1		Level 2		Total		Level 1		Level 2		Total
Assets:
Cash equivalents:
Money market funds	$	54.4	$	—	$	54.4	$	12.1	$	—	$	12.1
Treasury bills		16.4		—		16.4		—		—		—
Short-term investments:
Certificates of deposit		—		0.2		0.2		—		2.4		2.4
Corporate debt securities		—		6.3		6.3		—		41.8		41.8
Municipal bonds		—		3.1		3.1		—		7.8		7.8
Total assets	$	70.8	$	9.6	$	80.4	$	12.1	$	52.0	$	64.1

The above table excludes $853.9 million of cash held in our bank accounts. We did not have any financial instruments measured at fair value on a recurring basis within Level 3 fair value during fiscal 2023 and 2022 and there were no transfers in or out of our Level 1 or 2 assets during the same periods.

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 Debt and Term Loan (“Note 8. Debt”). The estimated fair value of the notes was determined based on the trading price of the notes as of the last day of trading for the period. We consider the fair value of the notes 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 Debt are as follows for the periods presented (in millions):


	June 2023				June 2022
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Senior Notes due 2029	$	395.6	$	337.2	$	395.0	$	326.9
Term Loan due 2028		582.4	$	575.3		586.7	$	575.0
	$	978.0	$	912.5	$	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

Acquisitions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended	12 Months Ended
	Oct. 25, 2022	Aug. 30, 2021	Mar. 25, 2023	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021	Dec. 31, 2021	Dec. 02, 2021
Business Acquisition [Line Items]
Allocation of stock based compensation replacement awards					$ 1.7
Net revenue				$ 1,355.1	1,739.7	$ 1,339.6
Goodwill				816.4	806.6	570.0
Debt instrument aggregate principal amounts								$ 600.0
Debt finance cost				978.0	981.7			$ 11.2
Long-term debt				991.0	997.0
Term Loan [Member]
Business Acquisition [Line Items]
Long-term debt				591.0
Broadcom Wireless Connectivity [Member]
Business Acquisition [Line Items]
Assets acquisition, aggregate consideration			$ 30.0
DSP Group, Inc [Member]
Business Acquisition [Line Items]
Acquisition agreement date		Aug. 30, 2021
Acquisition closing effective date		Dec. 02, 2021
Business acquisition price per share		$ 22.00
Net revenue					83.8
Increase decrease in net income					5.9	$ 86.3
Prepaid expenses and other current assets					4.0
Cash acquired					40.5
Intangible assets acquired					212.0
Goodwill					236.6
Net assets acquired					543.3
Business combination, acquisition related costs					$ 4.4
DSP Group, Inc [Member] \| Term Loan [Member]
Business Acquisition [Line Items]
Debt instrument aggregate principal amounts							$ 600.0
Debt finance cost							$ 11.2
Short-term debt				6.0
Long-term debt				$ 585.0
DSP Group, Inc [Member] \| Minimum [Member]
Business Acquisition [Line Items]
Discount rate					4.00%
DSP Group, Inc [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Discount rate					18.00%
Emza [Member]
Business Acquisition [Line Items]
Acquisition closing effective date	Oct. 25, 2022
Name of acquired entity	Emza Visual Sense, Ltd.
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 assets acquired	$ 2.3

Cash, Cash Equivalents and Short-Term Investments - Schedule of cash, cash equivalents and short-term investments (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022
Cash and Cash Equivalents [Line Items]
Amortized Cost	$ 9.8	$ 54.0
Cash [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	853.9	811.9
Gross unrealized gain (loss)	0.0	0.0
Fair Value	853.9	811.9
Certificates of Deposit [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	0.2	2.4
Gross unrealized gain (loss)	0.0	0.0
Fair Value	0.2	2.4
Money Market Funds [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	54.4	12.1
Gross unrealized gain (loss)	0.0	0.0
Fair Value	54.4	12.1
Treasury bills [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	16.4	0.0
Gross unrealized gain (loss)	0.0	0.0
Fair Value	16.4	0.0
Short-Term Investments [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	9.8	54.0
Gross unrealized gain (loss)	(0.2)	(2.0)
Fair Value	9.6	52.0
Corporate Debt Securities [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	6.5	43.7
Gross unrealized gain (loss)	(0.2)	(1.9)
Fair Value	6.3	41.8
Municipal Bonds [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	3.1	7.9
Gross unrealized gain (loss)	0.0	(0.1)
Fair Value	3.1	7.8
Cash and Cash Equivalents [Member]
Cash and Cash Equivalents [Line Items]
Amortized Cost	924.7	824.0
Gross unrealized gain (loss)	0.0	0.0
Fair Value	$ 924.7	$ 824.0

Debt - Additional Information (Detail) - USD ($)			12 Months Ended			60 Months Ended
Debt - Additional Information (Detail) - USD ($)	Dec. 02, 2021	Jun. 01, 2021	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021	Dec. 02, 2028	Mar. 16, 2023	Mar. 11, 2021
Debt Instrument [Line Items]
Debt instrument aggregate principal amounts	$ 600,000,000.0
Debt instrument interest rate	1.00%
Redemption of Principal amout, Percentage			100.00%
Debt issuance costs	$ 11,200,000		$ 978,000,000.0	$ 981,700,000
Debt instrument maturity date						Dec. 02, 2028
Interest expense			$ 55,500,000	$ 30,200,000	$ 29,500,000
Common stock, par value			$ 0.001	$ 0.001
Common stock, shares issued			68,687,511	67,745,800
Cash and cash equivalents			$ 924,700,000	$ 824,000,000.0
Payment of debt issuance costs			$ 0	11,200,000	$ 6,000,000.0
Percentage of voting capital stock			65.00%
Percentage of Non-Voting capital stock			100.00%
Basis spread on variable rate			25.00%
LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	2.25%
Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	1.25%
Maximum [Member]
Debt Instrument [Line Items]
Redemption of debt in cash, percentage			40.00%
Term Loan debt [Member]
Debt Instrument [Line Items]
Interest expense			$ 37,900,000	11,200,000
Basis spread on variable rate	1.00%		50.00%
Term Loan debt [Member] \| Federal Funds Rates [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
4.0% Senior Notes Due 2029 [Member]
Debt Instrument [Line Items]
Debt instrument aggregate principal amounts								$ 400,000,000.0
Debt instrument interest rate			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
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, current			13.7267
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
0.50% 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			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
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 \| Convertible Notes Payable [Member]
Debt Instrument [Line Items]
Debt instrument aggregate principal amounts		$ 525,000,000
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt amortization period			60 months
Cash and cash equivalents			$ 450,000,000.0
Maximum leverage ratio permitted			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, which after the Third Amendment, only applies if our cash and cash equivalents balance is less than $450 million as of the last day of any fiscal quarter. 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. If our quarter-end cash and cash equivalents balance is less than $450.0 million, the interest coverage ratio must not be less than 3.50 to 1.0 as of the date of determination. As of the end of the quarter, we remain in compliance with the restrictive covenants.
Line Of Credit Facility Maximum Borrowing Capacity			$ 250,000,000
Line of credit facility allowable requests for additional borrowing			150,000,000
Long-term Line of Credit, Total			$ 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.
Payment of debt issuance costs			$ 1,600,000
Description of base rate			The Credit Agreement bears interest, at our election, of a Base Rate plus an Applicable Margin or Adjusted Term SOFR, as defined in the Second Amendment, 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 Adjusted Term SOFR plus 100 basis points. The Applicable Margin is based on a sliding scale which ranges from 25 to 100 basis points for Base Rate loans and 100 basis points to 175 basis points for Adjusted Term SOFR loans.
Minimum interest coverage ratio			3.50%
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] \| 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			25.00%
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Commitment fee percentage of unused portion			0.25%
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Maximum [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			175.00%
Amended and Restated Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Maximum [Member] \| 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 Facility Maximum Borrowing Capacity			$ 20,000,000
Amended and Restated Credit Agreement [Member] \| Bridge Loan [Member]
Debt Instrument [Line Items]
Line Of Credit Facility Maximum Borrowing Capacity			$ 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%
Amended and Restated Credit Agreement [Member] \| Thereafter [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum leverage ratio permitted			3.75%
Amended and Restated Credit Agreement [Member] \| Wells Fargo Securities, LLC [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Cash and cash equivalents							$ 450,000,000
Amendment and Restatement Agreement [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
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.
Senior Notes [Member]
Debt Instrument [Line Items]
Debt issuance costs			$ 5,700,000
Interest Expense Long Term Debt			$ 16,600,000	$ 16,600,000
Debt amortization period			99 months

Segment, Customers, and Geographic Information - Net Revenue from External Customers (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Revenue from External Customer [Line Items]
Net revenue	$ 1,355.1	$ 1,739.7	$ 1,339.6
Internet of Things Product Applications [Member]
Revenue from External Customer [Line Items]
Net revenue	946.3	1,100.9	612.9
PC Product Applications [Member]
Revenue from External Customer [Line Items]
Net revenue	217.3	343.0	354.7
Mobile Product Applications [Member]
Revenue from External Customer [Line Items]
Net revenue	$ 191.5	$ 295.8	$ 372.0

- 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
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-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (a)
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-Name Accounting Standards Codification
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-SubTopic 10
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-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
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-Paragraph 22
-Subparagraph (b)
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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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-Subparagraph (a)
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
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-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

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-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

Employee Benefit Plans

12 Months Ended

Jun. 24, 2023

Retirement Benefits [Abstract]

Employee Benefit Plans

13. Employee Benefit Plans

401(k) Plan

We have a 401(k) Retirement Savings Plan for full-time employees in the U.S. Under the plan, eligible employees may contribute a portion of their net compensation up to the annual limit of $22,500 or $30,000 for employees who are 50 years or older. In fiscal 2023, we provided matching funds of 25% of our employees’ contributions, excluding catch-up contributions. The employer matching funds vest immediately. We made matching contributions of $1.9 million, $1.7 million and $1.8 million in fiscal 2023, 2022, and 2021, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Goodwill and Acquired Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning balance	$ 806.6	$ 570.0
Acquisition activity	9.8	236.6
Ending balance	$ 816.4	$ 806.6

- Definition

+ References + Details

Organization and Summary of Significant Accounting Policies - Other Long Term Accrued Liabilities (Detail) - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022
Payables and Accruals [Abstract]
Income taxes payable, long-term	$ 38.1	$ 29.1
Non-current deferred tax liability	39.1	52.6
Operating lease liabilities, long-term	$ 42.4	$ 51.5
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt, Excluding Current Maturities	Long-Term Debt, Excluding Current Maturities
Other	$ 16.3	$ 19.4
Other accrued liabilities	$ 135.9	$ 152.6

Share-Based Compensation - New Share-Based Compensation Plans - Additional Information (Detail) - shares	Oct. 27, 2020	Oct. 29, 2019	Jun. 24, 2023	Aug. 19, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance			5,783,513
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross	0
2019 Inducement Equity Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved by stockholders		5,288,000
Common Stock, Capital Shares Reserved for Future Issuance				650,000
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

Property and Equipment (Tables)

12 Months Ended

Jun. 24, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment as of the end of fiscal 2023 and 2022 consisted of the following (in millions):


	Life	2023			2022
Computer equipment	3 - 5 years	$	20.1		$	19.3
Manufacturing equipment	1 - 5 years		105.9			93.3
Furniture, fixtures, and leasehold improvements	3 - 10 years		43.4			39.6
Capitalized software	3 - 7 years		22.5			24.3
Construction in progress			7.0			9.2
			198.9			185.7
Accumulated depreciation and amortization			(132.5	)		(122.8	)
Property and equipment, net		$	66.4		$	62.9

Organization and Summary of Significant Accounting Policies - Schedule of Changes in Goodwill (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning balance	$ 806.6	$ 570.0
Acquisition activity	9.8	236.6
Ending balance	$ 816.4	$ 806.6

- Definition

+ References + Details

Debt

12 Months Ended

Jun. 24, 2023

Debt Disclosure [Abstract]

Debt

8. Debt

Senior Debt

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 Senior Notes 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 consolidated balance sheet, are amortized as interest expense using the effective interest method over 99 months. The total interest expense and amortization of the debt issuance costs recorded on the Senior Notes during the fiscal year ended June 2023 and 2022 was $16.6 million in each year.

Revolving Credit Facility

On March 16, 2023, we entered into a Second Amendment, or the Second Amendment, and on July 28, 2023, we entered into a Third Amendment, or the Third Amendment, to our Second Amended and Restated Credit Agreement, as amended, the Credit Agreement, with the lenders party thereto and Wells Fargo Bank, National Association, as administrative agent, dated March 11, 2021. The Second Amendment replaces the LIBOR-based interest rate applicable to borrowings under the Credit Agreement with a SOFR-based interest rate, and the Third Amendment provides that the consolidated interest coverage ratio financial covenant only applies if, as of the last day of any fiscal quarter, our aggregate cash and cash equivalents balance is less than $450 million.

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. As of June 2023, 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 Amended 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 Credit Agreement bears interest, at our election, of a Base Rate plus an Applicable Margin or Adjusted Term SOFR, as defined in the Second Amendment, 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 Adjusted Term SOFR plus 100 basis points. The Applicable Margin is based on a sliding scale which ranges from 25 to 100 basis points for Base Rate loans and 100 basis points to 175 basis points for Adjusted Term SOFR 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.

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, which after the Third Amendment, only applies if our cash and cash equivalents balance is less than $450 million as of the last day of any fiscal quarter. 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. If our quarter-end cash and cash equivalents balance is less than $450.0 million, the interest coverage ratio must not be less than 3.50 to 1.0 as of the date of determination. As of the end of the quarter, 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 accrue interest at the SOFR, plus 2.25%, or at the Base Rate plus 1.25%, subject to a 25 basis point step-down based on total gross leverage, and subject to an Adjusted Term SOFR floor of 50 basis points. The base rate is the highest of (i) the Federal Funds Rate plus 0.50%, (ii) the Prime Rate and (iii) the one-month Adjusted Term SOFR 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 covenants.

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 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 consolidated balance sheet, are amortized as interest expense over 96 months. The total interest expense and amortization of the debt issuance costs recorded on the Term Loan Facility during fiscal 2023 and 2022 was $37.9 million and $11.2 million, respectively.

The following table presents the future principal payments related to our Senior Notes and Term Loan Facility in future fiscal years (in millions):


	Senior Notes		Term Loan Facility		Total
2024	$	—	$	6.0	$	6.0
2025		—		6.0		6.0
2026		—		6.0		6.0
2027		—		6.0		6.0
2028		—		6.0		6.0
Thereafter		400.0		561.0		961.0
	$	400.0	$	591.0	$	991.0

As of the end of fiscal 2023 and 2022, our total debt is presented in our consolidated balance sheet as follows (in millions):


	2023							2022
	Total debt		Issuance costs			Total debt, net of issuance costs		Total debt		Issuance costs			Total debt, net of issuance costs
Current portion of long-term debt	$	6.0	$	—		$	6.0	$	6.0	$	—		$	6.0
Long-term debt		985.0		(13.0	)		972.0		991.0		(15.3	)		975.7
	$	991.0		(13.0	)	$	978.0	$	997.0		(15.3	)	$	981.7

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 operations 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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Organization and Summary of Significant Accounting Policies - Other Accrued Liabilities (Detail) - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022
Payables and Accruals [Abstract]
Customer obligations	$ 58.5	$ 88.6
Inventory obligations	7.0	14.1
Operating lease liabilities	$ 9.0	$ 7.6
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt, Excluding Current Maturities	Long-Term Debt, Excluding Current Maturities
Other	$ 33.9	$ 35.0
Other accrued liabilities	$ 108.4	$ 145.3

Segment, Customers, and Geographic Information - Additional Information (Detail) $ in Millions	12 Months Ended
	Jun. 24, 2023 USD ($) Segment ReportingUnit Product	Jun. 25, 2022 USD ($)	Jun. 26, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| Segment	1
Number of product \| Product	3
Long-lived assets	$ 1,181.3	$ 1,259.5
Goodwill	816.4	806.6	$ 570.0
Reclassification Adjustment [Member]
Segment Reporting Information [Line Items]
Long-lived assets		428.0
Impact On Geographic Long Lived Assets		$ 0.0
Internet of Things and Mobile/PC
Segment Reporting Information [Line Items]
Goodwill	$ 816.4
Number of reporting units \| ReportingUnit	2

- Definition

+ References + Details

Share-Based Compensation (Tables)

12 Months Ended

Jun. 24, 2023

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

Share-Based Compensation Awards Available for Grant or Issuance

Share-based compensation awards available for grant or issuance for each plan as of the beginning of the fiscal year, including changes in the balance of awards available for grant for fiscal 2023, were as follows:


	Awards						2019			2019
	Available			2019			Employee			Employee			2010
	Under All			Incentive			Inducement			Stock			Incentive			DSPG
	Share-Based			Compensation			Equity			Purchase			Compensation			Replacement Award
	Award Plans			Plan			Plan			Plan			Plan			Plan
Balance at June 2022		4,449,604			3,379,524			—			1,070,080			—			—
Additional shares authorized		698,000			698,000			—			—			—			—
Transferred between plans		—			5,733			—			—			(5,733	)		—
Restricted stock units granted		(808,153	)		(808,153	)		—			—			—			—
Market stock units granted		(110,885	)		(110,885	)		—			—			—			—
Performance stock units granted		(157,710	)		(157,710	)		—			—			—			—
Performance stock units performance adjustment		141,565			142,899			(1,334	)		—			—			—
Market stock units performance adjustment		(168,796	)		(148,347	)		(20,449	)		—			—			—
Purchases under employee stock purchase plan		(172,044	)		—						(172,044	)		—			—
Forfeited		103,689			95,727			—			—			5,733			2,229
Plan shares no longer available for new grants		19,554			—			21,783			—			—			(2,229	)
Balance at June 2023		3,994,824			3,096,788			—			898,036			—			—

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 for our stock-based awards and our cash settled phantom stock units, which we granted in October 2019 (see Phantom Stock Units below) recognized in our consolidated statements of income for fiscal 2023, 2022, and 2021 were as follows (in millions):


	2023				2022				2021
	Stock-based awards		Phantom Stock Units		Stock-based awards		Phantom Stock Units		Stock-based awards		Phantom Stock Units
Cost of revenue	$	4.0	$	—	$	4.0	$	0.2	$	3.0	$	0.4
Research and development		52.4		0.3		42.5		27.2		23.5		21.9
Selling, general, and administrative		65.6		0.3		54.3		4.7		39.6		4.7
Total	$	122.0	$	0.6	$	100.8	$	32.1	$	66.1	$	27.0
Income tax benefit on share-based compensation	$	13.2			$	23.1			$	15.2

Schedule of Stock Option Activity

Certain stock option activity for fiscal 2023 and balances as of the end of fiscal 2023 were as follows:


	Stock			Weighted
	Option			Average		Intrinsic
	Awards			Exercise		Value
	Outstanding			Price		(In millions)
Balance at June 2022		31,185		$	61.50
Exercised		(27,545	)	$	62.10
Expired		(557	)	$	81.88
Balance at June 2023		3,083		$	52.53	$	0.1
Exercisable at June 2023		3,083		$	52.53	$	0.1

Cash Received and Aggregate Intrinsic Value of Stock Options Exercised

Cash received and the aggregate intrinsic value of stock options exercised for fiscal 2023, 2022, and 2021 were as follows (in millions):


	2023		2022		2021
Cash received	$	3.3	$	5.3	$	23.9
Aggregate intrinsic value	$	1.6	$	3.6	$	8.6

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

Shares purchased, weighted average purchase price, cash received, and the aggregate intrinsic value for employee stock purchase plan purchases in fiscal 2023, 2022, and 2021 were as follows (in millions, except shares purchased and weighted average purchase price):


	2023		2022		2021
Shares purchased		172,044		138,502		220,389
Weighted average purchase price	$	91.88	$	97.90	$	57.00
Cash received	$	15.8	$	13.6	$	12.6
Aggregate intrinsic value	$	2.8	$	12.5	$	10.3

Phantom Stock Unit [Member]

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

Schedule of Stock Units Activity

Phantom stock activity was as follows:


				Weighted
	Phantom			Average
	Stock Units			Grant Date
	Outstanding			Fair Value
Balance as of June 2022		176,097		$	42.11
Paid		(173,436	)	$	42.11
Forfeited		(2,661	)	$	42.11
Balance as of June 2023		—		$	0.00

Fair Value of Each Award Granted

The fair value of each MSU granted from our plans for fiscal 2023, 2022, and 2021 was estimated at the date of grant using the Monte Carlo simulation model, assuming no expected dividends and the following assumptions:


	2023			2022			2021
Expected volatility of company		55.22	%		52.61	%		53.62	%
Expected volatility of Index	17.9% - 320.7%			17.4% - 581.6%			19.6% - 197.6%
Correlation coefficient		0.61			0.53			0.51
Expected life in years		2.87			2.87			2.87
Risk-free interest rate		3.24	%		0.40	%		0.17	%
Fair value per award	$218.15 - $438.24			$284.43 - $342.89			$131.34 - $175.15

Deferred stock units outstanding [Member]

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

Schedule of Stock Units Activity

RSU activity, including RSUs granted, delivered, and forfeited in fiscal 2023, and the balance and aggregate intrinsic value of RSUs as of the end of fiscal 2023 were as follows:


				Average
	RSU Awards			Grant Date
	Outstanding			Fair Value
Balance at June 2022		1,220,565		$	119.83
Granted		808,153		$	129.14
Vested		(631,492	)	$	115.30
Forfeited		(92,300	)	$	137.60
Balance at June 2023		1,304,926		$	126.50

Market stock units outstanding [Member]

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

Schedule of Stock Units Activity

MSU activity, including MSUs granted, delivered, and forfeited in fiscal 2023, and the balance and aggregate intrinsic value of MSUs as of the end of fiscal 2023 were as follows:


				Weighted
				Average
	MSU Awards			Grant Date
	Outstanding			Fair Value
Balance at June 2022		251,974		$	138.51
Granted		110,885		$	179.98
Performance adjustment		168,796		$	—
Vested		(304,334	)	$	104.04
Balance at June 2023		227,321		$	235.67

Performance stock units outstanding [Member]

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

Schedule of Stock Units Activity

PSU activity, including PSUs granted, delivered, and forfeited in fiscal 2023, and the balance and aggregate intrinsic value of PSUs as of the end of fiscal 2023 were as follows:


				Weighted
				Average
	PSU Awards			Grant Date
	Outstanding			Fair Value
Balance at June 2022		257,903		$	101.50
Granted		157,710		$	119.50
Performance adjustment		128,622		$	—
Vested		(279,438	)	$	97.40
Forfeited		(11,438	)	$	123.12
Balance at June 2023		253,359		$	125.40

Net Income Per Share

12 Months Ended

Jun. 24, 2023

Earnings Per Share [Abstract]

Net Income Per Share

2. Net Income Per Share

The computation of basic and diluted net income per share for fiscal 2023, 2022, and 2021 was as follows (in millions, except per share amounts):


	2023		2022		2021
Numerator:
Net income	$	73.6	$	257.5	$	79.6
Denominator:
Shares, basic		39.6		39.0		34.8
Effect of dilutive share-based awards and convertible notes		0.6		1.7		3.5
Shares, diluted		40.2		40.7		38.3
Net income per share:
Basic	$	1.86	$	6.60	$	2.29
Diluted	$	1.83	$	6.33	$	2.08

Diluted net income per share does not include the effect of potential common shares related to certain share-based awards for fiscal 2023, 2022, and 2021 as follows (in millions):


	2023		2022		2021
Share-based awards		0.7		0.1		—

These share-based awards were not included in the computation of diluted net income per share because the proceeds received, if any, from such share-based awards combined with the average unamortized compensation costs, were greater than the average market price of our common stock, and therefore, their effect would have been antidilutive.

Our basic net income per share amounts for each period presented have been computed using the weighted average number of shares of common stock outstanding. Our diluted net income per share amounts for each period presented include

the weighted average effect of potentially dilutive shares. We used the “treasury stock” method to determine the dilutive effect of outstanding share-based awards and convertible notes.

Income Taxes

12 Months Ended

Jun. 24, 2023

Income Tax Disclosure [Abstract]

Income Taxes

14. Income Taxes

Income/(loss) before provision for income taxes for fiscal 2023, 2022, and 2021 consisted of the following (in millions):


	2023			2022			2021
United States	$	(118.2	)	$	(44.8	)	$	(21.0	)
Foreign		244.2			365.3			141.1
Income before provision for income taxes	$	126.0		$	320.5		$	120.1

The provision for income taxes for fiscal 2023, 2022, and 2021 consisted of the following (in millions):


	2023			2022			2021
Current tax expense/(benefit)
Federal	$	15.8		$	(0.6	)	$	4.1
State		0.1			—			0.1
Foreign		62.4			94.9			36.1
		78.3			94.3			40.3
Deferred tax expense/(benefit)
Federal		(12.7	)		(21.8	)		(0.5	)
State		—			—			—
Foreign		(13.2	)		(7.9	)		(8.4	)
		(25.9	)		(29.7	)		(8.9	)
Provision for income taxes	$	52.4		$	64.6		$	31.4

The provision for income taxes differs from the federal statutory rate for fiscal 2023, 2022, and 2021 as follows (in millions):


	2023			2022			2021
Provision at U.S. federal statutory tax rate	$	26.4		$	67.3		$	25.1
State income taxes		—			—			0.1
Non-deductible share-based compensation		6.6			7.9			5.2
(Windfall)/shortfall related to share-based compensation		(1.3	)		(18.1	)		(3.8	)
Non-deductible officer compensation		6.4			6.4			6.4
Business credits		(5.2	)		(10.0	)		(3.8	)
Foreign tax differential		(0.5	)		6.4			(6.7	)
U.S. inclusion of foreign income		21.0			3.6			5.2
Deferred taxes on unremitted foreign earnings		0.3			0.7			3.5
Other differences		(1.3	)		0.4			0.2
Provision for income taxes	$	52.4		$	64.6		$	31.4

Non-current deferred tax assets and non-current deferred tax liabilities are included in “Non-current other assets” and “Other long-term liabilities,” respectively, on our consolidated balance sheets.

Significant components of our deferred tax assets (liabilities) as of the end of fiscal 2023 and 2022 consisted of the following (in millions):


	2023			2022
Deferred tax assets:
Capital loss carryforward	$	34.1		$	33.8
Inventory write downs		1.9			2.6
Property and equipment and intangible assets		42.1			11.7
Share-based compensation		10.3			12.0
Nondeductible interest		4.9			5.4
Lease liabilities		10.1			11.2
Business credit carryforward		45.1			62.0
Net operating loss carryforward		10.8			16.3
Other accruals		5.1			5.6
		164.4			160.6
Valuation allowance		(78.4	)		(75.0	)
		86.0			85.6
Deferred tax liabilities:
Property and equipment		(1.9	)		(2.0	)
Right-of-use assets		(9.5	)		(11.5	)
Unremitted foreign earnings		(14.3	)		(22.1	)
Acquisition intangibles		(31.4	)		(45.8	)
		(57.1	)		(81.4	)
Net deferred tax assets	$	28.9		$	4.2

The fiscal 2022 capital loss carryforward deferred tax asset and its corresponding valuation allowance includes a reclassification adjustment of $16.0 million to conform to the current period presentation. This reclassification had no impact on previously reported deferred tax assets.

Realization of deferred tax assets depends on our generating sufficient U.S. and certain foreign taxable income in future years to obtain a benefit from the utilization of those deferred tax assets on our tax returns. Accordingly, the amount of deferred tax assets considered realizable may increase or decrease when we reevaluate the underlying basis for our estimates of future U.S. and foreign taxable income. As of the end of fiscal 2023, a valuation allowance of $78.4 million was maintained to reduce deferred tax assets primarily related to state tax credits and capital losses carryforwards that are not more likely than not to be realized through future taxable income. The net change in the valuation allowance during fiscal 2023 was an increase of $3.4 million, primarily due to an increase of unrealized deferred tax assets associated with state tax credits.

We consider most of the earnings of our foreign subsidiaries as not indefinitely reinvested overseas and have made appropriate provisions for income or withholding taxes, that may result from a future repatriation of those earnings. As a result, $14.3 million of our deferred tax liability is associated with unremitted foreign earnings, which if remitted would not result in a further provision for income taxes. We continue to indefinitely reinvest $200 million on certain accumulated earnings and outside basis differences primarily related to our DSPG acquisition. If the undistributed earnings and other outside basis differences were recognized in a taxable transaction, the associated foreign tax credits would be expected to reduce the U.S. income tax liability associated with the foreign distribution or the otherwise taxable transaction. As of our fiscal 2023, assuming full utilization of the associated foreign tax credits, the potential net deferred tax liability associated with these undistributed earnings and outside basis differences would be approximately $46 million.

As of the end of fiscal 2023, we had federal, California, and foreign net operating loss carryforwards of approximately $28.7 million, $25.0 million, and $49.6 million, respectively. The federal and California net operating loss will begin to expire in fiscal 2037 and 2027, respectively, if not utilized. Most of our foreign net operating losses have no expiration date. Under current tax law, net operating loss and tax credit carryforwards available to offset future income or income taxes may be limited by statute or upon the occurrence of certain events, including significant changes in ownership.

We had $16.4 million and $53.4 million of federal and state research tax credit carryforwards, respectively, as of the end of fiscal 2023. The federal research tax credit carryforward will begin to expire in 2029 and the state research tax credit can be carried forward indefinitely.

The total liability for gross unrecognized tax benefits related to uncertain tax positions, included in other liabilities in our consolidated balance sheets, increased by $13.9 million from $29.8 million in fiscal 2022 to $43.7 million in fiscal 2023. Of this amount, $33.1 million will reduce the effective tax rate on income from operations, if recognized. A reconciliation of the beginning and ending balance of gross unrecognized tax benefits for fiscal 2023, 2022, and 2021 consisted of the following (in millions):


	2023			2022			2021
Beginning balance	$	29.8		$	22.6		$	20.1
Increase in unrecognized tax benefits related to current year tax positions		13.7			7.1			5.5
Increase in unrecognized tax benefits related to prior year tax positions		2.5			5.5			—
Decrease due to effective settlement with tax authorities		(1.1	)		—			—
Remeasurement of unrecognized tax benefits		(0.3	)		(0.5	)		—
Decrease due to statute expiration		(0.9	)		(4.9	)		(3.0	)
Ending Balance	$	43.7		$	29.8		$	22.6

Accrued interest and penalties increased by $0.5 million in fiscal 2023 as compared to fiscal 2022 and increased by $0.8 million in fiscal 2022 as compared to fiscal 2021. Accrued interest and penalties were $3.0 million and $2.5 million as of the end of fiscal 2023and 2022, respectively. Our policy is to classify interest and penalties, if any, as components of income tax expense.

It is reasonably possible that the amount of liability for unrecognized tax benefits may change within the next 12 months; an estimate of the range of possible changes could result in a decrease of $1.4 million to an increase of $8.8 million. 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 U.S., Hong Kong SAR, Japan, Israel and the U.K. From fiscal 2017 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
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Stockholders' Equity (Tables)

12 Months Ended

Jun. 24, 2023

Equity [Abstract]

Shares Reserved for Future Issuance

Shares of common stock reserved for future issuance as of the end of fiscal 2023 were as follows:


Stock options outstanding			3,083
Restricted stock units outstanding			1,304,926
Market stock units outstanding			227,321
Performance stock units outstanding			253,359
Awards available for grant under all share-based compensation plans			3,994,824
Reserved for future issuance			5,783,513

Goodwill and Acquired Intangible Assets - Schedule of Expected Annual Aggregate Amortization Expense (Detail) - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 73.8
2025	66.9
2026	53.8
2027	23.2
2028	10.6
Thereafter	3.2
To be determined	67.0
Net Carrying Value	$ 298.5	$ 390.0

Income Taxes - Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Current tax expense/(benefit)
Federal	$ 15.8	$ (0.6)	$ 4.1
State	0.1	0.0	0.1
Foreign	62.4	94.9	36.1
Current Income Tax Expense, Total	78.3	94.3	40.3
Deferred tax expense/(benefit)
Federal	(12.7)	(21.8)	(0.5)
State	0.0	0.0	0.0
Foreign	(13.2)	(7.9)	(8.4)
Deferred Income Tax Expense/(Benefit), Total	(25.9)	(29.7)	(8.9)
Provision for income taxes	$ 52.4	$ 64.6	$ 31.4

Share-Based Compensation

12 Months Ended

Jun. 24, 2023

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

12. Share-Based Compensation

The purpose of our various share-based compensation plans is to attract, motivate, retain, and reward high-quality employees, directors, and consultants by enabling such persons to acquire or increase their proprietary interest in our common stock in order to strengthen the mutuality of interests between such persons and our stockholders and to provide such persons with annual and long-term performance incentives to focus their best efforts on the creation of stockholder value. Consequently, we determine whether to grant share-based compensatory awards subsequent to the initial award for our employees and consultants primarily on individual performance.

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, or our 2010 ESPP. Upon approval of the 2019 Incentive Plan, new awards are no longer issued under the 2010 Incentive 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 units, cash incentive awards, performance shares, performance stock units, and other stock-based awards. The cumulative number of shares approved under the 2019 Incentive Plan was 5,288,000. The 2019 ESPP authorizes us to provide eligible employees with an opportunity to acquire an equity interest in our 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. 650,000 shares of our common stock have been 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 is 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. As a result of approval by our stockholders of our amended and restated 2019 Incentive Plan on October 27, 2020, no new awards will be granted under the 2019 Inducement Equity Plan.


	Awards						2019			2019
	Available			2019			Employee			Employee			2010
	Under All			Incentive			Inducement			Stock			Incentive			DSPG
	Share-Based			Compensation			Equity			Purchase			Compensation			Replacement Award
	Award Plans			Plan			Plan			Plan			Plan			Plan
Balance at June 2022		4,449,604			3,379,524			—			1,070,080			—			—
Additional shares authorized		698,000			698,000			—			—			—			—
Transferred between plans		—			5,733			—			—			(5,733	)		—
Restricted stock units granted		(808,153	)		(808,153	)		—			—			—			—
Market stock units granted		(110,885	)		(110,885	)		—			—			—			—
Performance stock units granted		(157,710	)		(157,710	)		—			—			—			—
Performance stock units performance adjustment		141,565			142,899			(1,334	)		—			—			—
Market stock units performance adjustment		(168,796	)		(148,347	)		(20,449	)		—			—			—
Purchases under employee stock purchase plan		(172,044	)		—						(172,044	)		—			—
Forfeited		103,689			95,727			—			—			5,733			2,229
Plan shares no longer available for new grants		19,554			—			21,783			—			—			(2,229	)
Balance at June 2023		3,994,824			3,096,788			—			898,036			—			—


	2023				2022				2021
	Stock-based awards		Phantom Stock Units		Stock-based awards		Phantom Stock Units		Stock-based awards		Phantom Stock Units
Cost of revenue	$	4.0	$	—	$	4.0	$	0.2	$	3.0	$	0.4
Research and development		52.4		0.3		42.5		27.2		23.5		21.9
Selling, general, and administrative		65.6		0.3		54.3		4.7		39.6		4.7
Total	$	122.0	$	0.6	$	100.8	$	32.1	$	66.1	$	27.0
Income tax benefit on share-based compensation	$	13.2			$	23.1			$	15.2

We recognize a tax benefit upon expensing certain share-based awards associated with our share-based compensation plans, including RSUs, market stock units, or MSUs, PSUs, and phantom stock units. We do not recognize a tax benefit upon expensing all or a portion of share-based awards granted to certain executive officers and certain foreign-based employees.

We compare the actual tax benefit associated with the tax deduction from share-based award activity to the hypothetical tax benefit based on the grant date fair values of the corresponding share-based awards. Tax benefit associated with excess tax deduction creditable to our income tax provision is recognized when incurred. Tax deficiency associated with a tax deduction shortfall is debited to our income tax provision when incurred.

Historically, we have issued new shares in connection with our 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.

Stock Options

Our share-based compensation plans with outstanding stock option awards include our 2010 Incentive Plan. Under our 2010 Incentive Plan, we were able to grant incentive stock options or nonqualified stock options to purchase shares of our common stock at not less than 100% of the fair market value, or FMV, on the date of grant. We ceased granting stock options in fiscal 2018.

Options granted under our 2010 Incentive Plan generally vest three to four years from the vesting commencement date and expire seven years after the date of grant if not exercised.

Certain stock option activity for fiscal 2023 and balances as of the end of fiscal 2023 were as follows:


	Stock			Weighted
	Option			Average		Intrinsic
	Awards			Exercise		Value
	Outstanding			Price		(In millions)
Balance at June 2022		31,185		$	61.50
Exercised		(27,545	)	$	62.10
Expired		(557	)	$	81.88
Balance at June 2023		3,083		$	52.53	$	0.1
Exercisable at June 2023		3,083		$	52.53	$	0.1

The aggregate intrinsic value was determined using the closing price of our common stock on the last trading day of fiscal 2023, or June 23, 2023, of $81.16.

Cash received and the aggregate intrinsic value of stock options exercised for fiscal 2023, 2022, and 2021 were as follows (in millions):


	2023		2022		2021
Cash received	$	3.3	$	5.3	$	23.9
Aggregate intrinsic value	$	1.6	$	3.6	$	8.6

There was no unrecognized share-based compensation costs for stock options granted under our various plans.

Restricted Stock Units

Our 2019 Incentive Plan provides for the grant of RSUs to our employees, consultants, and directors, 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. 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. We began granting DSUs in January 2006 and RSUs in 2019. The use of RSUs will cover the meaning of both RSUs and DSUs.

RSUs granted generally vest ratably over three to four years from the vesting commencement date. Delivery of shares under the plans take place on the quarterly vesting dates. At the delivery date, we withhold shares to cover applicable statutory tax withholding for grantees subject to withholding and deliver a net quantity of shares to the grantee after such withholding. Until delivery of shares, the grantee has no rights as a stockholder with respect to any shares underlying the RSU award.

RSU activity, including RSUs granted, delivered, and forfeited in fiscal 2023, and the balance and aggregate intrinsic value of RSUs as of the end of fiscal 2023 were as follows:


				Average
	RSU Awards			Grant Date
	Outstanding			Fair Value
Balance at June 2022		1,220,565		$	119.83
Granted		808,153		$	129.14
Vested		(631,492	)	$	115.30
Forfeited		(92,300	)	$	137.60
Balance at June 2023		1,304,926		$	126.50

At the end of fiscal 2023, the aggregate intrinsic value of RSUs expected to vest was $105.9 million and the number of RSU awards expected to vest is 1.3 million shares. Our closing stock price of $81.16 on the last day of trading in fiscal 2023 was used to calculate the intrinsic value for the RSUs.

The unrecognized share-based compensation cost for RSUs granted under our 2019 Incentive Plan, our 2019 Inducement Equity Plan and our 2010 Incentive Plan was approximately $122.7 million as of the end of fiscal 2023, which will be recognized over a weighted average period of approximately 1.84 years.

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, but not less than the third tranche target quantity multiplied by the final payout factor.

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, but not less than the third tranche target quantity multiplied by the final payout factor.

For outstanding MSU awards granted in fiscal 2020, 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 the 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 the Index.

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, including MSUs granted, delivered, and forfeited in fiscal 2023, and the balance and aggregate intrinsic value of MSUs as of the end of fiscal 2023 were as follows:


				Weighted
				Average
	MSU Awards			Grant Date
	Outstanding			Fair Value
Balance at June 2022		251,974		$	138.51
Granted		110,885		$	179.98
Performance adjustment		168,796		$	—
Vested		(304,334	)	$	104.04
Balance at June 2023		227,321		$	235.67

As a result of Synaptics achieving the 80th percentile relative to the remaining constituents in the Russell 2000 Index, we delivered 200% of the targeted shares underlying tranche one of the fiscal 2022 MSU grants. As a result of Synaptics achieving the 84th percentile relative to the remaining constituents in the Russell 2000 Index, we delivered 200% of the targeted shares underlying tranche two of the fiscal 2021 MSU grants. As a result of the Synaptics TSR outperforming the Index TSR by 84.53 percentage points for the tranche three performance period, we delivered 200% of the targeted shares underlying the fiscal 2020 MSU grants, less shares issued for the first tranche and second tranche.

At the end of fiscal 2023, the aggregate intrinsic value of MSUs expected to vest was $18.5 million and the number of MSU awards expected to vest is 0.2 million shares. Our closing stock price of $81.16 on the last day of trading in fiscal 2023 was used to calculate the intrinsic value for the MSUs.


	2023			2022			2021
Expected volatility of company		55.22	%		52.61	%		53.62	%
Expected volatility of Index	17.9% - 320.7%			17.4% - 581.6%			19.6% - 197.6%
Correlation coefficient		0.61			0.53			0.51
Expected life in years		2.87			2.87			2.87
Risk-free interest rate		3.24	%		0.40	%		0.17	%
Fair value per award	$218.15 - $438.24			$284.43 - $342.89			$131.34 - $175.15

We amortize the compensation expense over the three- or four-year performance and service period on a ratable basis. The unrecognized share-based compensation cost of our outstanding MSUs was approximately $22.3 million as of the end of fiscal 2023, which will be recognized over a weighted average period of approximately 0.73 years.

Performance Stock Units

Our 2019 Incentive Plan and our 2010 Incentive 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 2022, the performance criteria was based on non-GAAP earnings per share, for PSU awards granted in fiscal 2021 the performance criteria was 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 are 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, including PSUs granted, delivered, and forfeited in fiscal 2023, and the balance and aggregate intrinsic value of PSUs as of the end of fiscal 2023 were as follows:


				Weighted
				Average
	PSU Awards			Grant Date
	Outstanding			Fair Value
Balance at June 2022		257,903		$	101.50
Granted		157,710		$	119.50
Performance adjustment		128,622		$	—
Vested		(279,438	)	$	97.40
Forfeited		(11,438	)	$	123.12
Balance at June 2023		253,359		$	125.40

We value PSUs using the aggregate intrinsic value on the grant date and amortize the compensation expense over the three-year service period on a ratable basis, dependent upon the probability of meeting the performance measures. The PSU awards outstanding balance at June 2023 is based on the target grant quantity and does not include any performance adjustment of shares for completed performance periods.

At the end of fiscal 2023, the aggregate intrinsic value of PSUs expected to vest was $20.6 million and the number of PSU awards expected to vest is 0.2 million shares. Our closing stock price of $81.16 on the last day of trading in fiscal 2023 was used to calculate the intrinsic value for the PSUs.

The unrecognized share-based compensation cost of our outstanding PSUs was approximately $3.3 million as of June 2023, which will be recognized over a weighted average period of approximately 0.67 years.

Phantom Stock Units

The 2019 Incentive Plan authorized the grant of phantom stock units to non-employee directors, officers and employees. We initially granted phantom stock units in October 2019. Phantom stock units were cash-settled and entitled 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 vested 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:


				Weighted
	Phantom			Average
	Stock Units			Grant Date
	Outstanding			Fair Value
Balance as of June 2022		176,097		$	42.11
Paid		(173,436	)	$	42.11
Forfeited		(2,661	)	$	42.11
Balance as of June 2023		—		$	0.00

Employee Stock Purchase Plan

Our 2019 ESPP allows employees to designate up to 15% of their base compensation, subject to legal restrictions and limitations, to purchase shares of common stock at 85% of the lesser of the FMV at the beginning of the offering period or the exercise date. Under the 2019 ESPP, the offering period extends for up to one year and includes two exercise dates occurring at six-month intervals. Under the terms of our 2019 ESPP, if the FMV at an exercise date is less than the FMV at the beginning of the offering period, the current offering period will terminate and a new offering period will commence.


	2023		2022		2021
Shares purchased		172,044		138,502		220,389
Weighted average purchase price	$	91.88	$	97.90	$	57.00
Cash received	$	15.8	$	13.6	$	12.6
Aggregate intrinsic value	$	2.8	$	12.5	$	10.3

The fair value of each award granted under our 2019 ESPP for fiscal 2023, 2022, and 2021 was based on the Black-Scholes option pricing model. The fair value per award for fiscal 2023, 2022 and 2021 was $40.70, $38.93 and $20.82, respectively.

Unrecognized share-based compensation costs for awards granted under our 2019 ESPP at the end of fiscal 2023 were approximately $6.3 million that will be amortized over the next 8 months.

Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 24, 2023

Accounting Policies [Abstract]

Accounts Receivable Balance Percentage of Different Customers

The following customers accounted for more than 10% of our accounts receivable balance as of the end of fiscal 2023 and 2022:


	2023	2022
Customer A	10%	17%
Customer B	20%	15%

Inventories

Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value as of the end of fiscal 2023 and 2022, and consisted of the following (in millions):


	2023		2022
Raw materials and work-in-progress	$	70.5	$	92.2
Finished goods		66.7		77.5
	$	137.2	$	169.7

Schedule of Changes in Goodwill

The following table presents our goodwill balance as of June 2023 and June 2022 (in millions):


	2023		2022
Beginning balance	$	806.6	$	570.0
Acquisition activity		9.8		236.6
Ending balance	$	816.4	$	806.6

Other Accrued Liabilities

As of the end of fiscal 2023 and 2022, other accrued liabilities consisted of the following (in millions):


	2023		2022
Customer obligations	$	58.5	$	88.6
Inventory obligations		7.0		14.1
Operating lease liabilities		9.0		7.6
Other		33.9		35.0
	$	108.4	$	145.3

Other Long-Term Accrued Liabilities

As of the end of fiscal 2023 and 2022, other long-term accrued liabilities consisted of the following (in millions):



	2023		2022
Operating lease liabilities, long-term	$	42.4	$	51.5
Deferred tax liability		39.1		52.6
Income taxes payable, long-term		38.1		29.1
Other		16.3		19.4
	$	135.9	$	152.6

- Definition

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

+ References

+ Details

Consolidated Statements of Comprehensive Income/(Loss) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 73.6	$ 257.5	$ 79.6
Other comprehensive loss
Unrealized loss on available-for-sale securities	0.6	(1.8)	0.0
Reclassification Adjustments For Losses Included In Net Income	1.2	0.0	0.0
Other Comprehensive Income (Loss)	1.8	(1.8)
Comprehensive income	$ 75.4	$ 255.7	$ 79.6

- Definition

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

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

Share-Based Compensation - Phantom Stock Units - Additional Information (Detail) - $ / shares	12 Months Ended
	Jun. 25, 2022	Jun. 24, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of outstanding stock units	$ 61.50	$ 52.53
Phantom Stock Unit [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of the underlying awards	3 years

Debt - Schedule Of Total Debt Presented In Balance Sheet (Details) - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022	Dec. 02, 2021
Debt Instrument [Line Items]
Total debt	$ 991.0	$ 997.0
Issuance costs	(13.0)	(15.3)
Total debt, net of issuance costs	978.0	981.7	$ 11.2
Long-term debt
Debt Instrument [Line Items]
Total debt	985.0	991.0
Issuance costs	(13.0)	(15.3)
Total debt, net of issuance costs	972.0	975.7
Current portion of long-term debt
Debt Instrument [Line Items]
Total debt	6.0	6.0
Issuance costs	0.0	0.0
Total debt, net of issuance costs	$ 6.0	$ 6.0

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Segment, Customers, and Geographic Information - Net Revenue within Geographic Areas Based on Customers' Locations (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 1,355.1	$ 1,739.7	$ 1,339.6
China [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	485.0	609.1	524.0
Taiwan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	367.4	539.4	382.6
Japan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	337.7	453.1	330.7
VIET NAM
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	61.5	11.8	3.4
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	62.6	72.1	66.1
South Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	35.0	39.1	28.5
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 5.9	$ 15.1	$ 4.3

- Definition

+ References

+ Details

Organization and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jun. 24, 2023

Accounting Policies [Abstract]

Organization

Basis of Presentation and Principles of Consolidation

Use of Estimates

Cash Equivalents and Investments

Short-Term Investments

Fair Value Measurements

Concentration of Credit Risk

The following customers accounted for more than 10% of our accounts receivable balance as of the end of fiscal 2023 and 2022:


	2023	2022
Customer A	10%	17%
Customer B	20%	15%

Other Concentrations

Revenue Recognition

Advertising Costs

Advertising costs, if any, are expensed when incurred.

Allowance for Credit Losses

Cost of Revenue

Inventories

Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value as of the end of fiscal 2023 and 2022, and consisted of the following (in millions):


	2023		2022
Raw materials and work-in-progress	$	70.5	$	92.2
Finished goods		66.7		77.5
	$	137.2	$	169.7

Property and Equipment

Foreign Currency

Goodwill

Intangible Assets

Impairment of Long-Lived Assets

Leases

Other Accrued Liabilities and Other Long Term Liabilities

Other Accrued Liabilities and Other Long-Term Liabilities

As of the end of fiscal 2023 and 2022, other accrued liabilities consisted of the following (in millions):


	2023		2022
Customer obligations	$	58.5	$	88.6
Inventory obligations		7.0		14.1
Operating lease liabilities		9.0		7.6
Other		33.9		35.0
	$	108.4	$	145.3

As of the end of fiscal 2023 and 2022, other long-term accrued liabilities consisted of the following (in millions):



	2023		2022
Operating lease liabilities, long-term	$	42.4	$	51.5
Deferred tax liability		39.1		52.6
Income taxes payable, long-term		38.1		29.1
Other		16.3		19.4
	$	135.9	$	152.6

Share-Based Compensation

Income Taxes

Product Warranty

Acquisitions

Research and Development

Research and development costs are expensed as incurred.

Accounting Pronouncement Issued But Not Yet Adopted

Accounting Pronouncements Issued But Not Yet Adopted

Leases - Schedule of Future Minimum Lease Payments for Operating Leases (Detail) - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022
Leases Commitments And Contingencies [Abstract]
2024	$ 10.3
2025	9.9
2026	8.4
2027	7.4
2028	5.9
Thereafter	20.2
Total future minimum operating lease payments	62.1
Less: interest	(10.7)
Total Lease liabilities	$ 51.4	$ 59.1

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Jun. 24, 2023	Aug. 11, 2023	Dec. 23, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 24, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Registrant Name	SYNAPTICS INCORPORATED
Trading Symbol	SYNA
Entity Central Index Key	0000817720
Current Fiscal Year End Date	--06-26
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
ICFR Auditor Attestation Flag	true
Entity Well Known Seasoned Issuer	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	000-49602
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
Entity Common Stock, Shares Outstanding		38,584,203
Entity Public Float			$ 3,263,436,621
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $.001 per share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Document Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference	Portions of Part III of this Form 10-K are incorporated by reference from the registrant’s definitive proxy statement for its 2023 annual meeting of stockholders, which will be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year covered by this Form 10-K. Except with respect to information specifically incorporated by reference in this Form 10-K, the proxy statement is not deemed to be filed as part of this Form 10-K.
Auditor Name	KPMG LLP
Auditor Location	Santa Clara, California
Auditor Firm ID	185

Share-Based Compensation - Stock Options - Additional Information (Detail) - USD ($)		12 Months Ended
	Oct. 27, 2020	Jun. 24, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross	0
Unrecognized share-based compensation costs for stock options granted		$ 6,300,000
Stock options outstanding [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of fair market value for which exercise price is designated on incentive and nonqualified stock option grants		100.00%
Options granted under the 2010 Incentive Plan		vest three to four years from the vesting commencement date and expire seven years after the date of grant if not exercised.
Closing price of common stock used to calculate Aggregate intrinsic value of stock option outstanding		$ 81.16
Stock options outstanding [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation costs for stock options granted		$ 0

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 5.0	$ 6.0
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	68,687,511	67,745,800
Common stock, shares outstanding	38,571,072	39,621,179
Common treasury shares	30,116,439	28,124,621

Income Taxes - Tabular Disclosure of Income (Loss) Before Income Tax Between Domestic and Foreign Jurisdictions (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Income Loss From Operations Before Provision Benefit For Income Taxes [Line Items]
Income/(loss) before provision for income taxes	$ 126.0	$ 320.5	$ 120.1
United States [Member]
Income Loss From Operations Before Provision Benefit For Income Taxes [Line Items]
Income/(loss) before provision for income taxes	(118.2)	(44.8)	(21.0)
Foreign [Member]
Income Loss From Operations Before Provision Benefit For Income Taxes [Line Items]
Income/(loss) before provision for income taxes	$ 244.2	$ 365.3	$ 141.1

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Debt (Tables)

12 Months Ended

Jun. 24, 2023

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	%

Schedule of Future Principal Payments Related To Our Senior Notes and Term Loan Facility

The following table presents the future principal payments related to our Senior Notes and Term Loan Facility in future fiscal years (in millions):


	Senior Notes		Term Loan Facility		Total
2024	$	—	$	6.0	$	6.0
2025		—		6.0		6.0
2026		—		6.0		6.0
2027		—		6.0		6.0
2028		—		6.0		6.0
Thereafter		400.0		561.0		961.0
	$	400.0	$	591.0	$	991.0

Schedule Of Total Debt Presented In Balance Sheet

As of the end of fiscal 2023 and 2022, our total debt is presented in our consolidated balance sheet as follows (in millions):


	2023							2022
	Total debt		Issuance costs			Total debt, net of issuance costs		Total debt		Issuance costs			Total debt, net of issuance costs
Current portion of long-term debt	$	6.0	$	—		$	6.0	$	6.0	$	—		$	6.0
Long-term debt		985.0		(13.0	)		972.0		991.0		(15.3	)		975.7
	$	991.0		(13.0	)	$	978.0	$	997.0		(15.3	)	$	981.7

Stockholders' Equity - Shares Reserved for Future Issuance (Detail)	Jun. 24, 2023 shares
Class Of Stock [Line Items]
Awards available for grant under all share-based compensation plans	3,994,824
Reserved for future issuance	5,783,513
Stock options outstanding [Member]
Class Of Stock [Line Items]
Awards available for grant under all share-based compensation plans	3,083
Restricted stock units outstanding [Member]
Class Of Stock [Line Items]
Awards available for grant under all share-based compensation plans	1,304,926
Market stock units outstanding [Member]
Class Of Stock [Line Items]
Awards available for grant under all share-based compensation plans	227,321
Performance stock units outstanding [Member]
Class Of Stock [Line Items]
Awards available for grant under all share-based compensation plans	253,359

Share-Based Compensation - Shares Purchased, Weighted Average Purchase Price, Cash Received, and Aggregate Intrinsic Value for ESPP (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022	Jun. 26, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate intrinsic value	$ 0.1
Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares purchased	172,044	138,502	220,389
Weighted average purchase price	$ 91.88	$ 97.90	$ 57.00
Cash received	$ 15.8	$ 13.6	$ 12.6
Aggregate intrinsic value	$ 2.8	$ 12.5	$ 10.3

Segment, Customers, and Geographic Information - Long-Lived Assets within Geographic Areas (Detail) - USD ($) $ in Millions	Jun. 24, 2023	Jun. 25, 2022
Long Lived Assets By Geographical Areas [Line Items]
Long-lived assets	$ 1,181.3	$ 1,259.5
United States [Member]
Long Lived Assets By Geographical Areas [Line Items]
Long-lived assets	119.1	118.1
Asia Pacific [Member]
Long Lived Assets By Geographical Areas [Line Items]
Long-lived assets	195.8	196.4
EMEA [Member]
Long Lived Assets By Geographical Areas [Line Items]
Long-lived assets	$ 866.4	$ 945.0

Property and Equipment - Property and Equipment (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 198.9	$ 185.7
Accumulated depreciation and amortization	(132.5)	(122.8)
Property and equipment, net	66.4	62.9
Computer Equipment [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 20.1	19.3
Computer Equipment [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives	3 years
Computer Equipment [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives	5 years
Manufacturing Equipment [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 105.9	93.3
Manufacturing Equipment [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives	1 year
Manufacturing Equipment [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives	5 years
Furniture, Fixtures and Leasehold Improvements [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 43.4	39.6
Furniture, Fixtures and Leasehold Improvements [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives	3 years
Furniture, Fixtures and Leasehold Improvements [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives	10 years
Capitalized Software [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 22.5	24.3
Capitalized Software [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives	3 years
Capitalized Software [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives	7 years
Construction in Progress [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 7.0	$ 9.2

Acquisitions - Summary of Preliminary Estimate of Intangible Assets (Detail) - USD ($) $ in Millions	12 Months Ended
	Jun. 24, 2023	Jun. 25, 2022
Business Acquisition [Line Items]
Estimated Weighted Average Useful Lives in Years	4 years 10 months 24 days
Trade Names [Member]
Business Acquisition [Line Items]
Estimated Weighted Average Useful Lives in Years	4 years 4 months 24 days
DSP Group, Inc [Member]
Business Acquisition [Line Items]
Intangible assets		$ 212.0
DSP Group, Inc [Member] \| Developed Technology Rights [Member]
Business Acquisition [Line Items]
Estimated Weighted Average Useful Lives in Years		5 years 2 months 12 days
Intangible assets		$ 150.0
DSP Group, Inc [Member] \| Customer Contracts And Related Relationships [Member]
Business Acquisition [Line Items]
Estimated Weighted Average Useful Lives in Years		4 years
Intangible assets		$ 45.0
DSP Group, Inc [Member] \| In Process Research And Development [Member]
Business Acquisition [Line Items]
Intangible assets		$ 16.0
DSP Group, Inc [Member] \| Trade Names [Member]
Business Acquisition [Line Items]
Estimated Weighted Average Useful Lives in Years		1 year
Intangible assets		$ 1.0

Indemnifications and Contingencies

12 Months Ended

Jun. 24, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

10. Indemnifications and Contingencies

Legal proceedings

We are subject to a variety of claims and suits that arise from time-to-time in the ordinary course of our business. While management currently believes that resolving claims against us, individually or in the aggregate, will not have a material adverse impact on our financial position, results of operations or statements of cash flows, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future. We accrue for loss contingencies when it is both probable that we will incur the loss and when we can reasonably estimate the amount of the loss or range of loss.

During the fourth quarter of fiscal 2023, we accrued $4.0 million in relation to a contractual dispute with a vendor.

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.

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 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 consolidated financial statements for such indemnification obligations.