Pay vs Performance Disclosure

12 Months Ended

Jun. 29, 2025

USD ($)

Jun. 30, 2024

USD ($)

Jun. 25, 2023

USD ($)

Jun. 26, 2022

USD ($)

Jun. 27, 2021

USD ($)

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay Versus Performance

The following disclosure has been prepared in accordance with the pay versus performance disclosure requirements set forth in Item 402(v) of Regulation S-K under the Exchange Act, which requires the presentation of certain information about the relationship between the compensation of our NEOs and our performance. Amounts reported as “Compensation Actually Paid” differ from the compensation amounts disclosed elsewhere in this proxy statement and do not reflect the value of the compensation actually received by the NEOs, including our CEO, who serves as our principal executive officer (“PEO”). For information about how our executive compensation program seeks to align pay with performance, please refer to “Executive Compensation and Other Information – Compensation Discussion and Analysis” beginning on page 29.

Figure 57. Pay Versus Performance

										Average Summary Compensation Table Total for Non-PEO Named Executive Officers ($)(1)			Average Compensation Actually Paid to Non-PEO Named Executive Officers ($)(1)(2)			Value of Initial Fixed $100 Investment Based On:(3)
	Fiscal Year			Summary Compensation Table Total for PEO ($)(1)			Compensation Actually Paid to PEO ($)(1)(2)									Total Shareholder Return ($)			Peer Group Total Shareholder Return ($)(4)			Net Income ($ in thousands)			Non-GAAP Operating Income as a Percentage of Revenue (%)(5)
	2025			28,298,161			14,697,241			8,377,096			7,038,953			340			307			5,358,217			32.3
	2024			30,135,041			71,745,236			6,933,795			15,027,121			368			300			3,827,772			30.3
	2023			18,310,099			35,457,770			4,654,089			8,924,931			209			190			4,510,931			30.7
	2022			16,941,156			10,266,747			4,179,804			3,029,959			152			145			4,605,286			31.3
	2021			15,495,736			56,855,461			4,171,767			17,871,377			211			171			3,908,458			31.5

(1)
Timothy M. Archer was our CEO for each of the years presented. Our other NEOs, other than the CEO, during the years presented were as follows:

• FY 2025: Douglas R. Bettinger, Patrick J. Lord, Ava A. Harter, and Seshasayee (Sesha) Varadarajan

• FY 2024: Douglas R. Bettinger, Patrick J. Lord, Seshasayee (Sesha) Varadarajan, and Vahid Vahedi

• FY 2023: Douglas R. Bettinger, Patrick J. Lord, Vahid Vahedi, and Seshasayee (Sesha) Varadarajan

• FY 2022: Douglas R. Bettinger, Patrick J. Lord, Vahid Vahedi, and Seshasayee (Sesha) Varadarajan

• FY 2021: Douglas R. Bettinger, Richard A. Gottscho, Patrick J. Lord, and Vahid Vahedi

(2)
The following table presents the amounts deducted from and added to our CEO’s total compensation for each year, as well as the average amounts deducted from and added to the average of the total compensation for the other NEOs, other than the CEO, for each year, as reported in the Summary Compensation Table, in order to determine the “compensation actually paid” to our CEO and the average “compensation actually paid” to the other NEOs, in accordance with SEC rules. Neither our CEO nor the other NEOs participated in any defined benefit or actuarial pension plans (including supplemental plans) during the years presented, and no such plans are reported in the Summary Compensation Table. As a result, no information regarding deductions or additions related to pension plans is presented.

For purposes of these adjustments, the fair value of equity awards was determined as follows: (i) for service-based RSUs at fiscal year-end, using the closing price of the Company’s common stock on the last trading day preceding the fiscal year-end; (ii) for Market-based PRSUs at fiscal year-end, using a Monte Carlo simulation model with assumptions for expected volatility, risk-free interest rate, expected term and dividend yield determined as of the fiscal year-end; (iii) for service-based RSUs and Market-based PRSUs upon vesting, using the closing price of the Company’s common stock on the vesting date; (iv) for stock option awards at fiscal year-end, using a Black-Scholes option valuation model with assumptions for expected volatility, risk-free interest rate, expected term and dividend yield determined as of the fiscal year-end; and (v) for stock option awards upon vesting, using a Black-Scholes option valuation model with assumptions for expected volatility, risk-free interest rate, expected term and dividend yield determined as of the vesting date.

				CEO															Other NEOs (Average)
	Adjustments			FY 2025			FY 2024			FY 2023			FY 2022			FY 2021			FY 2025			FY 2024			FY 2023			FY 2022			FY 2021
	Summary Compensation Table (SCT) Total			28,298,161			30,135,041			18,310,099			16,941,156			15,495,736			8,377,096			6,933,795			4,654,089			4,179,804			4,171,767
	(Deduct): SCT “Stock Awards” column value			(24,101,123)			(19,847,946)			(11,291,907)			(10,079,176)			(11,071,172)			(6,574,519)			(4,371,479)			(2,709,589)			(2,122,367)			(2,591,242)
	(Deduct): SCT “Option Awards” column value			—			(6,261,433)			(3,643,192)			(2,669,527)			(1,195,482)			(129,498)			(1,160,663)			(737,158)			(510,227)			(295,211)
	Add: year-end fair value of equity awards granted in the applicable fiscal year that are outstanding and unvested as of the applicable fiscal year-end			33,443,663			26,917,750			18,979,835			11,041,230			13,042,142			9,026,385			4,637,696			4,391,629			2,280,231			3,081,156
	Add (Deduct): year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the applicable fiscal year-end			(7,464,817)			30,177,855			7,625,472			(7,109,304)			27,474,359			(1,313,954)			6,531,859			1,681,231			(1,644,600)			8,431,240
	Add: vesting date fair value of equity awards granted and vested in the applicable fiscal year			—			—			—			—			—			117,447			—			—			—			—
	Add (Deduct): year-over-year change in fair value of equity awards granted in prior years that vested in the applicable fiscal year			(15,478,643)			10,623,969			5,477,463			2,142,368			13,109,878			(2,464,004)			2,455,913			1,644,729			847,118			5,073,667
	(Deduct): fair value as of prior year-end of equity awards granted in prior years that failed to vest in the applicable fiscal year			—			—			—			—			—			—			—			—			—			—
	Add: dollar value of dividends/earnings paid on equity awards in the applicable fiscal year			—			—			—			—			—			—			—			—			—			—
	Compensation Actually Paid			14,697,241			71,745,236			35,457,770			10,266,747			56,855,461			7,038,953			15,027,121			8,924,931			3,029,959			17,871,377

(3)
Total shareholder return is calculated based on the value of an initial fixed investment of $100 on June 26, 2020 through the end of the listed fiscal year, and assuming dividends are reinvested.

(4)
The peer group used is the PHLX Semiconductor Sector Total Return Index, which is the same peer group used in Part II, Item 5 of our Form 10-K.

(5)
Appendix B contains a reconciliation of non-GAAP operating income as a percentage of revenue to the results reported in our financial statements.

Company Selected Measure Name

non-GAAP operating income as a percentage of revenue

Named Executive Officers, Footnote

(1)
Timothy M. Archer was our CEO for each of the years presented. Our other NEOs, other than the CEO, during the years presented were as follows:

• FY 2025: Douglas R. Bettinger, Patrick J. Lord, Ava A. Harter, and Seshasayee (Sesha) Varadarajan

• FY 2024: Douglas R. Bettinger, Patrick J. Lord, Seshasayee (Sesha) Varadarajan, and Vahid Vahedi

• FY 2023: Douglas R. Bettinger, Patrick J. Lord, Vahid Vahedi, and Seshasayee (Sesha) Varadarajan

• FY 2022: Douglas R. Bettinger, Patrick J. Lord, Vahid Vahedi, and Seshasayee (Sesha) Varadarajan

• FY 2021: Douglas R. Bettinger, Richard A. Gottscho, Patrick J. Lord, and Vahid Vahedi

Peer Group Issuers, Footnote

(4)
The peer group used is the PHLX Semiconductor Sector Total Return Index, which is the same peer group used in Part II, Item 5 of our Form 10-K.

PEO Total Compensation Amount

$ 28,298,161

$ 30,135,041

$ 18,310,099

$ 16,941,156

$ 15,495,736

PEO Actually Paid Compensation Amount

$ 14,697,241

71,745,236

35,457,770

10,266,747

56,855,461

Adjustment To PEO Compensation, Footnote

(2)
The following table presents the amounts deducted from and added to our CEO’s total compensation for each year, as well as the average amounts deducted from and added to the average of the total compensation for the other NEOs, other than the CEO, for each year, as reported in the Summary Compensation Table, in order to determine the “compensation actually paid” to our CEO and the average “compensation actually paid” to the other NEOs, in accordance with SEC rules. Neither our CEO nor the other NEOs participated in any defined benefit or actuarial pension plans (including supplemental plans) during the years presented, and no such plans are reported in the Summary Compensation Table. As a result, no information regarding deductions or additions related to pension plans is presented.

For purposes of these adjustments, the fair value of equity awards was determined as follows: (i) for service-based RSUs at fiscal year-end, using the closing price of the Company’s common stock on the last trading day preceding the fiscal year-end; (ii) for Market-based PRSUs at fiscal year-end, using a Monte Carlo simulation model with assumptions for expected volatility, risk-free interest rate, expected term and dividend yield determined as of the fiscal year-end; (iii) for service-based RSUs and Market-based PRSUs upon vesting, using the closing price of the Company’s common stock on the vesting date; (iv) for stock option awards at fiscal year-end, using a Black-Scholes option valuation model with assumptions for expected volatility, risk-free interest rate, expected term and dividend yield determined as of the fiscal year-end; and (v) for stock option awards upon vesting, using a Black-Scholes option valuation model with assumptions for expected volatility, risk-free interest rate, expected term and dividend yield determined as of the vesting date.

				CEO															Other NEOs (Average)
	Adjustments			FY 2025			FY 2024			FY 2023			FY 2022			FY 2021			FY 2025			FY 2024			FY 2023			FY 2022			FY 2021
	Summary Compensation Table (SCT) Total			28,298,161			30,135,041			18,310,099			16,941,156			15,495,736			8,377,096			6,933,795			4,654,089			4,179,804			4,171,767
	(Deduct): SCT “Stock Awards” column value			(24,101,123)			(19,847,946)			(11,291,907)			(10,079,176)			(11,071,172)			(6,574,519)			(4,371,479)			(2,709,589)			(2,122,367)			(2,591,242)
	(Deduct): SCT “Option Awards” column value			—			(6,261,433)			(3,643,192)			(2,669,527)			(1,195,482)			(129,498)			(1,160,663)			(737,158)			(510,227)			(295,211)
	Add: year-end fair value of equity awards granted in the applicable fiscal year that are outstanding and unvested as of the applicable fiscal year-end			33,443,663			26,917,750			18,979,835			11,041,230			13,042,142			9,026,385			4,637,696			4,391,629			2,280,231			3,081,156
	Add (Deduct): year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the applicable fiscal year-end			(7,464,817)			30,177,855			7,625,472			(7,109,304)			27,474,359			(1,313,954)			6,531,859			1,681,231			(1,644,600)			8,431,240
	Add: vesting date fair value of equity awards granted and vested in the applicable fiscal year			—			—			—			—			—			117,447			—			—			—			—
	Add (Deduct): year-over-year change in fair value of equity awards granted in prior years that vested in the applicable fiscal year			(15,478,643)			10,623,969			5,477,463			2,142,368			13,109,878			(2,464,004)			2,455,913			1,644,729			847,118			5,073,667
	(Deduct): fair value as of prior year-end of equity awards granted in prior years that failed to vest in the applicable fiscal year			—			—			—			—			—			—			—			—			—			—
	Add: dollar value of dividends/earnings paid on equity awards in the applicable fiscal year			—			—			—			—			—			—			—			—			—			—
	Compensation Actually Paid			14,697,241			71,745,236			35,457,770			10,266,747			56,855,461			7,038,953			15,027,121			8,924,931			3,029,959			17,871,377

Non-PEO NEO Average Total Compensation Amount

$ 8,377,096

6,933,795

4,654,089

4,179,804

4,171,767

Non-PEO NEO Average Compensation Actually Paid Amount

$ 7,038,953

15,027,121

8,924,931

3,029,959

17,871,377

Adjustment to Non-PEO NEO Compensation Footnote

(2)
The following table presents the amounts deducted from and added to our CEO’s total compensation for each year, as well as the average amounts deducted from and added to the average of the total compensation for the other NEOs, other than the CEO, for each year, as reported in the Summary Compensation Table, in order to determine the “compensation actually paid” to our CEO and the average “compensation actually paid” to the other NEOs, in accordance with SEC rules. Neither our CEO nor the other NEOs participated in any defined benefit or actuarial pension plans (including supplemental plans) during the years presented, and no such plans are reported in the Summary Compensation Table. As a result, no information regarding deductions or additions related to pension plans is presented.

For purposes of these adjustments, the fair value of equity awards was determined as follows: (i) for service-based RSUs at fiscal year-end, using the closing price of the Company’s common stock on the last trading day preceding the fiscal year-end; (ii) for Market-based PRSUs at fiscal year-end, using a Monte Carlo simulation model with assumptions for expected volatility, risk-free interest rate, expected term and dividend yield determined as of the fiscal year-end; (iii) for service-based RSUs and Market-based PRSUs upon vesting, using the closing price of the Company’s common stock on the vesting date; (iv) for stock option awards at fiscal year-end, using a Black-Scholes option valuation model with assumptions for expected volatility, risk-free interest rate, expected term and dividend yield determined as of the fiscal year-end; and (v) for stock option awards upon vesting, using a Black-Scholes option valuation model with assumptions for expected volatility, risk-free interest rate, expected term and dividend yield determined as of the vesting date.

				CEO															Other NEOs (Average)
	Adjustments			FY 2025			FY 2024			FY 2023			FY 2022			FY 2021			FY 2025			FY 2024			FY 2023			FY 2022			FY 2021
	Summary Compensation Table (SCT) Total			28,298,161			30,135,041			18,310,099			16,941,156			15,495,736			8,377,096			6,933,795			4,654,089			4,179,804			4,171,767
	(Deduct): SCT “Stock Awards” column value			(24,101,123)			(19,847,946)			(11,291,907)			(10,079,176)			(11,071,172)			(6,574,519)			(4,371,479)			(2,709,589)			(2,122,367)			(2,591,242)
	(Deduct): SCT “Option Awards” column value			—			(6,261,433)			(3,643,192)			(2,669,527)			(1,195,482)			(129,498)			(1,160,663)			(737,158)			(510,227)			(295,211)
	Add: year-end fair value of equity awards granted in the applicable fiscal year that are outstanding and unvested as of the applicable fiscal year-end			33,443,663			26,917,750			18,979,835			11,041,230			13,042,142			9,026,385			4,637,696			4,391,629			2,280,231			3,081,156
	Add (Deduct): year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the applicable fiscal year-end			(7,464,817)			30,177,855			7,625,472			(7,109,304)			27,474,359			(1,313,954)			6,531,859			1,681,231			(1,644,600)			8,431,240
	Add: vesting date fair value of equity awards granted and vested in the applicable fiscal year			—			—			—			—			—			117,447			—			—			—			—
	Add (Deduct): year-over-year change in fair value of equity awards granted in prior years that vested in the applicable fiscal year			(15,478,643)			10,623,969			5,477,463			2,142,368			13,109,878			(2,464,004)			2,455,913			1,644,729			847,118			5,073,667
	(Deduct): fair value as of prior year-end of equity awards granted in prior years that failed to vest in the applicable fiscal year			—			—			—			—			—			—			—			—			—			—
	Add: dollar value of dividends/earnings paid on equity awards in the applicable fiscal year			—			—			—			—			—			—			—			—			—			—
	Compensation Actually Paid			14,697,241			71,745,236			35,457,770			10,266,747			56,855,461			7,038,953			15,027,121			8,924,931			3,029,959			17,871,377

Compensation Actually Paid vs. Total Shareholder Return

(1)
Total shareholder return is calculated based on the value of an initial fixed investment of $100 on June 26, 2020 through the end of the listed fiscal year, and assuming dividends are reinvested.

Compensation Actually Paid vs. Net Income

Compensation Actually Paid vs. Company Selected Measure

(2)
Appendix B contains a reconciliation of non-GAAP operating income as a percentage of revenue to the results reported in our financial statements.

Total Shareholder Return Vs Peer Group

Tabular List, Table

Tabular List of Financial Performance Measures

The following table includes an unranked list of the financial performance measures that, in our assessment, represent the most important financial performance measures used by us to link compensation actually paid to our NEOs, for fiscal year 2025, to our performance. For more information about how these measures factor into our executive compensation program, please refer to “Executive Compensation and Other Information – Compensation Discussion and Analysis” beginning on page 29.

Figure 59. Financial Performance Measures

	Non-GAAP operating income as a percentage of revenue (Company-Selected Measure)
	Relative TSR (defined as the Company’s TSR relative to the TSR of the PHLX Semiconductor Sector Total Return Index)
	Non-GAAP gross margin as a percentage of revenue

Total Shareholder Return Amount

$ 340

368

209

152

211

Peer Group Total Shareholder Return Amount

307

300

190

145

171

Net Income (Loss)

$ 5,358,217,000

$ 3,827,772,000

$ 4,510,931,000

$ 4,605,286,000

$ 3,908,458,000

Company Selected Measure Amount

0.323

0.303

0.307

0.313

0.315

PEO Name

Timothy M. Archer

Timothy M. Archer

Timothy M. Archer

Timothy M. Archer

Timothy M. Archer

Measure:: 1

Pay vs Performance Disclosure

Name

Non-GAAP operating income as a percentage of revenue

Non-GAAP Measure Description

(5)
Appendix B contains a reconciliation of non-GAAP operating income as a percentage of revenue to the results reported in our financial statements.

Measure:: 2

Pay vs Performance Disclosure

Name

Relative TSR

Measure:: 3

Pay vs Performance Disclosure

Name

Non-GAAP gross margin as a percentage of revenue

PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 33,443,663

$ 26,917,750

$ 18,979,835

$ 11,041,230

$ 13,042,142

PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(7,464,817)

30,177,855

7,625,472

(7,109,304)

27,474,359

PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

0

0

0

0

PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(15,478,643)

10,623,969

5,477,463

2,142,368

13,109,878

PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

0

0

0

0

PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

0

0

0

0

PEO | Stock Awards [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(24,101,123)

(19,847,946)

(11,291,907)

(10,079,176)

(11,071,172)

PEO | Option Awards [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

(6,261,433)

(3,643,192)

(2,669,527)

(1,195,482)

Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

9,026,385

4,637,696

4,391,629

2,280,231

3,081,156

Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(1,313,954)

6,531,859

1,681,231

(1,644,600)

8,431,240

Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

117,447

0

0

0

0

Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(2,464,004)

2,455,913

1,644,729

847,118

5,073,667

Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

0

0

0

0

Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

0

0

0

0

Non-PEO NEO | Stock Awards [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(6,574,519)

(4,371,479)

(2,709,589)

(2,122,367)

(2,591,242)

Non-PEO NEO | Option Awards [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (129,498)

$ (1,160,663)

$ (737,158)

$ (510,227)

$ (295,211)