Cirrus Logic Files 2024 10-K Annual Report
Ticker: CRUS · Form: 10-K · Filed: May 24, 2024 · CIK: 772406
| Field | Detail |
|---|---|
| Company | Cirrus Logic, Inc. (CRUS) |
| Form Type | 10-K |
| Filed Date | May 24, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-K, annual-report, semiconductors
TL;DR
Cirrus Logic's 2024 10-K is in! Full financials and biz details for the year ending March 30, 2024.
AI Summary
Cirrus Logic, Inc. filed its 2024 10-K report, detailing its fiscal year ending March 30, 2024. The company, a leader in semiconductors, reported significant financial figures and operational highlights. Key financial statements and disclosures regarding its business operations, risk factors, and legal proceedings are included in this comprehensive annual filing.
Why It Matters
This filing provides investors and analysts with a detailed overview of Cirrus Logic's financial health, strategic direction, and potential risks for the fiscal year ending March 30, 2024, crucial for investment decisions.
Risk Assessment
Risk Level: medium — 10-K filings inherently carry medium risk due to the detailed financial and operational disclosures that can reveal both strengths and weaknesses.
Key Numbers
- 20240330 — Fiscal Year End (The end date of the reporting period for the 10-K.)
- 20240524 — Filing Date (The date the 10-K was officially submitted to the SEC.)
Key Players & Entities
- CIRRUS LOGIC, INC. (company) — Filer of the 10-K report
- 20240330 (date) — Conformed period of report
- 20240524 (date) — Filed as of date
- 800 WEST 6TH STREET, AUSTIN, TX 78701 (location) — Company business and mail address
- 512-851-4000 (phone_number) — Company business phone number
FAQ
What is the primary business of Cirrus Logic, Inc. as indicated by its SIC code?
Cirrus Logic, Inc.'s Standard Industrial Classification (SIC) code is 3674, which corresponds to Semiconductors & Related Devices.
What is the fiscal year end date for Cirrus Logic, Inc. in this filing?
The fiscal year end date for Cirrus Logic, Inc. in this filing is March 30 (0330).
Where is Cirrus Logic, Inc. headquartered?
Cirrus Logic, Inc.'s business and mail address is 800 WEST 6TH STREET, AUSTIN, TX 78701.
What is the SEC file number for Cirrus Logic, Inc.'s 10-K filing?
The SEC file number for Cirrus Logic, Inc.'s 10-K filing is 000-17795.
When was Cirrus Logic Inc. previously known by another name?
Cirrus Logic Inc. was formerly known as CIRRUS LOGIC INC, with a date of name change on 19920703.
Filing Stats: 4,404 words · 18 min read · ~15 pages · Grade level 14 · Accepted 2024-05-24 16:01:20
Key Financial Figures
- $0.001 — ange on which registered Common stock, $0.001 par value CRUS The NASDAQ Global Select
Filing Documents
- crus-20240330.htm (10-K) — 1707KB
- ex109rsuagreementasapprove.htm (EX-10.9) — 130KB
- ex1011pbrsuagreementasappr.htm (EX-10.11) — 92KB
- ex1013optionagreementasapp.htm (EX-10.13) — 130KB
- ex141corpcodeofconduct22624.htm (EX-14.1) — 102KB
- crusex21133024.htm (EX-21.1) — 5KB
- crusex23133024.htm (EX-23.1) — 2KB
- crusex31133024.htm (EX-31.1) — 11KB
- crusex31233024.htm (EX-31.2) — 11KB
- crusex32133024.htm (EX-32.1) — 6KB
- crusex32233024.htm (EX-32.2) — 6KB
- exhibit97recoveryoferroneo.htm (EX-97) — 26KB
- crus-20240330_g1.jpg (GRAPHIC) — 130KB
- 0000772406-24-000031.txt ( ) — 11155KB
- crus-20240330.xsd (EX-101.SCH) — 69KB
- crus-20240330_cal.xml (EX-101.CAL) — 109KB
- crus-20240330_def.xml (EX-101.DEF) — 303KB
- crus-20240330_lab.xml (EX-101.LAB) — 889KB
- crus-20240330_pre.xml (EX-101.PRE) — 633KB
- crus-20240330_htm.xml (XML) — 1633KB
Risk Factors
Item 1A. Risk Factors 8
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 28
Cybersecurity
Item 1C. Cybersecurity 28
Properties
Item 2. Properties 28
Legal Proceedings
Item 3. Legal Proceedings 29
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 29 PART II
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29
[Reserved]
Item 6. [Reserved] 30
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 31
Quantitative and Qualitative Disclosures about Market Risk
Item 7A. Quantitative and Qualitative Disclosures about Market Risk 36
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 37
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 68
Controls and Procedures
Item 9A. Controls and Procedures 68
Other Information
Item 9B. Other Information 69
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 69 PART III
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 70
Executive Compensation
Item 11. Executive Compensation 70
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 70
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 70
Principal Accounting Fees and Services
Item 14. Principal Accounting Fees and Services 70 PART IV
Exhibits and Financial Statement Schedules
Item 15. Exhibits and Financial Statement Schedules 70
Signatures
Signatures 73 2 Table of Contents PART I
Forward-Looking Statements
Forward-Looking Statements This Annual Report on Form 10-K and certain information incorporated herein by reference contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements included or incorporated by reference in this Annual Report on Form 10-K, other than statements that are purely historical, are forward-looking statements. In some cases, forward-looking statements are identified by words such as "expect," "anticipate," "target," "project," "believe," "goals," "estimates," "will," "would," "could," "can," "may," "plan," and "intend", and other similar types of words and expressions. Variations of these types of words and similar expressions are intended to identify these forward-looking statements. Any statements that refer to our plans, beliefs, expectations, strategies or other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are predictions based on management's expectations as of the date of this filing and are subject to risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ materially from those indicated or implied by our forward-looking statements include, but are not limited to, those discussed in Item 1A. Risk Factors and elsewhere in this report, as well as in the documents we file with the Securities and Exchange Commission (the "SEC"), including our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date of this Annual Report on Form 10-K, and we und
Business
ITEM 1. Business Cirrus Logic, Inc. ("Cirrus Logic," "We," "Us," "Our," or the "Company") is a leader in low-power, high-precision mixed-signal processing solutions that create innovative user experiences for the world's top mobile and consumer applications. We were incorporated in California in 1984, became a public company in 1989 and were reincorporated in the State of Delaware in February 1999. Our primary facility, which houses engineering, sales and marketing, and administrative functions, is located in Austin, Texas. We also have offices in various other locations in the United States, United Kingdom, the People's Republic of China, South Korea, Japan, Singapore, and Taiwan. Our common stock, which has been publicly traded since 1989, is listed on the NASDAQ's Global Select Market under the symbol CRUS. We maintain a website with the address www.cirrus.com . We are not including the information contained on our website as a part of, or incorporating it by reference into, this Annual Report on Form 10-K. We make available free of charge through our website our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and amendments to these reports, as soon as reasonably practicable after we electronically file such material with, or furnish such material to, the SEC. We also routinely post other important information on our website, including information specifically addressed to investors. We intend for the investor relations section of our website to be a recognized channel of distribution for disseminating information to the securities marketplace for purposes of complying with our disclosure obligations under SEC Regulation Fair Disclosure. To receive a free copy of this Annual Report on Form 10-K, please forward your written request to Cirrus Logic, Inc., Attn: Investor Relations, 800 W. 6 th Street, Austin, Texas 78701, or via email at Investor@cirrus.com. In addition, the SEC maintains a website at www.sec.gov that