Company: CRUS
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000772406-25-000034
Chunk: 19

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 4
Chunk 19
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 pressure us on price reductions or to not accept price increases resulting from unexpected or additional cost increases or fees associated with our suppliers.  We have experienced pricing pressure from certain key customers, and we expect that the average selling prices ("ASPs") for certain of our products will decline from time to time, potentially reducing our revenue, margins, and earnings.              Our key customer relationships often require us to develop new products that may involve significant technological challenges.  Our customers frequently place considerable pressure on us to meet tight development schedules.  In addition, we have entered, and may again enter in the future, into customer agreements providing for exclusivity periods during which we may only sell specified products or technology to a specific customer.  Even without exclusivity periods, the products that we develop are often specific to our customer's system architecture and frequently cannot be sold to other customers.  Accordingly, we have in the past and may in the future devote a substantial amount of resources to strategic relationships, which could detract from or delay our completion of other important development projects or the development of next-generation products and technologies.  Notwithstanding our efforts, our customers are not always obligated to purchase new products that we develop for them, and their failure to do so could have a material effect on our operating results, financial condition, and cash flows.               Our reliance on certain customers may continue to increase, which could heighten the risks associated with having key customers, including making us more vulnerable to significant reductions in revenue, margins, and earnings; pricing pressure; and other adverse effects on our business.

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ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The following table provides information about purchases of equity securities that are registered by us pursuant to Section 12 of the Exchange Act during the three months ended June 28, 2025 (in thousands, except per share amounts):

Monthly PeriodTotal Number of Shares PurchasedAverage Price Paid Per ShareTotal Number of Shares Purchased as Part of Publicly Announced Plans or ProgramsApproximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs (1)March 30, 2025 - April 26, 2025297 $84.26 297 $529,108 April 27, 2025 - May 24, 2025628 $105.02 628 $463,108 May 25, 2025 - June 28, 202588 $101.