Allegro MicroSystems (ALGM) 10-Q 30 Jul 21 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Jun. 25, 2021	Jul. 21, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 25, 2021
Document Transition Report	false
Entity File Number	001-39675
Entity Registrant Name	ALLEGRO MICROSYSTEMS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-2405937
Entity Address, Address Line One	955 Perimeter Road
Entity Address, City or Town	Manchester,
Entity Address, State or Province	NH
Entity Address, Postal Zip Code	03103
City Area Code	603
Local Phone Number	626-2300
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ALGM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		189,646,542
Entity Central Index Key	0000866291
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--03-25

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 25, 2021	Mar. 26, 2021
Current assets:
Cash and cash equivalents	$ 221,934	$ 197,214
Restricted cash	7,698	6,661
Trade accounts receivable, net of provision for expected credit losses of $773 at June 25, 2021 and allowance for doubtful accounts of $138 at March 26, 2021	77,843	69,500
Trade and other accounts receivable due from related party	23,657	23,832
Accounts receivable – other	1,613	1,516
Inventories	82,356	87,498
Prepaid expenses and other current assets	12,117	18,374
Assets held for sale	25,309	25,969
Total current assets	452,527	430,564
Property, plant and equipment, net	196,993	192,393
Operating lease right-of-use assets	17,439	0
Deferred income tax assets	20,268	26,972
Goodwill	20,118	20,106
Intangible assets, net	36,301	36,366
Equity investment in related party	26,943	26,664
Other assets, net	26,298	14,613
Total assets	796,887	747,678
Current liabilities:
Trade accounts payable	34,704	35,389
Amounts due to related party	4,095	2,353
Accrued expenses and other current liabilities	76,771	78,932
Current portion of operating lease liabilities	3,463	0
Total current liabilities	119,033	116,674
Obligations due under Senior Secured Credit Facilities	25,000	25,000
Operating lease liabilities, less current portion	14,231	0
Other long-term liabilities	19,244	19,133
Total liabilities	177,508	160,807
Commitments and contingencies (Note 15)
Stockholders' Equity:
Preferred Stock, $0.01 par value; 20,000,000 shares authorized, no shares issued or outstanding at June 25, 2021 and March 26, 2021	0	0
Common stock, $0.01 par value; 1,000,000,000 shares authorized, 189,581,621 shares issued and outstanding at June 25, 2021; 1,000,000,000 shares authorized, 189,588,161 issued and outstanding at March 26, 2021	1,896	1,896
Additional paid-in capital	597,001	592,170
Retained earnings	31,220	3,551
Accumulated other comprehensive loss	(11,865)	(11,865)
Equity attributable to Allegro MicroSystems, Inc.	618,252	585,752
Non-controlling interests	1,127	1,119
Total stockholders' equity	619,379	586,871
Total liabilities, non-controlling interest and stockholders' equity	$ 796,887	$ 747,678

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 25, 2021	Mar. 26, 2021
Statement of Financial Position [Abstract]
Allowances for doubtful accounts	$ 773	$ 138
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	189,581,621	189,588,161
Common stock, shares outstanding (in shares)	189,581,621	189,588,161

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
Net sales	$ 188,142	$ 115,001
Cost of goods sold	93,982	59,300
Gross profit	94,160	55,701
Operating expenses:
Research and development	29,554	24,380
Selling, general and administrative	32,064	26,789
Change in fair value of contingent consideration	300	0
Total operating expenses	61,918	51,169
Operating income	32,242	4,532
Other (expense) income:
Interest (expense) income, net	(345)	313
Foreign currency transaction (loss) gain	(254)	132
Income in earnings of equity investment	279	212
Other, net	48	193
Income before income tax provision	31,970	5,382
Income tax provision	4,263	528
Net income	27,707	4,854
Net income attributable to non-controlling interests	38	34
Net income attributable to Allegro MicroSystems, Inc.	$ 27,669	$ 4,820
Net income attributable to Allegro MicroSystems, Inc. per share (Note 16):
Basic (in dollars per share)	$ 0.15	$ 0.48
Diluted (in dollars per share)	$ 0.14	$ 0.48
Weighted average shares outstanding:
Basic (in shares)	189,585,381	10,000,000
Diluted (in shares)	191,163,074	10,000,000
Non-Related Party Revenue
Net sales	$ 152,689	$ 91,381
Related Party Revenue
Net sales	$ 35,453	$ 23,620

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 27,707	$ 4,854
Net income attributable to non-controlling interests	38	34
Net income attributable to Allegro MicroSystems, Inc.	27,669	4,820
Other comprehensive (loss) income:
Foreign currency translation adjustment	(30)	4,280
Net actuarial loss amortization of net transition obligation and prior service costs related to defined benefit plans, net of tax	0	(313)
Comprehensive income	27,639	8,787
Other comprehensive loss attributable to non-controlling interest	30	7
Comprehensive income attributable to Allegro MicroSystems, Inc.	$ 27,669	$ 8,794

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Non-Controlling Interests	Common Class ACommon Stock	Common Class LCommon Stock
Beginning balance (in shares) at Mar. 27, 2020		0					10,000,000	622,470
Beginning balance at Mar. 27, 2020	$ 634,132	$ 0	$ 458,697	$ 194,355	$ (19,976)	$ 950	$ 100	$ 6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	4,854			4,820		34
Issuance of Class L shares, net of forfeitures (in shares)								15,828
Capitalization changes related to organizational structure of affiliates and direct and indirect interests in subsidiaries	(19,165)		(19,165)
Reclassification of certain class L shares	(298)		(298)
Stock-based compensation	445		445
Foreign currency translation adjustment	4,280				4,287	(7)
Net actuarial loss amortization of net transition obligation and prior service costs related to defined benefit plans, net of tax	313				313
Ending balance (in shares) at Jun. 26, 2020		0					10,000,000	638,298
Ending balance at Jun. 26, 2020	$ 623,935	$ 0	439,679	199,175	(16,002)	977	$ 100	$ 6
Beginning balance (in shares) at Mar. 26, 2021	189,588,161	189,588,161
Beginning balance at Mar. 26, 2021	$ 586,871	$ 1,896	592,170	3,551	(11,865)	1,119
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	27,707			27,669		38
Stock-based compensation, net of forfeitures (in shares)		(6,540)
Stock-based compensation, net of forfeitures	4,831		4,831
Foreign currency translation adjustment	(30)					(30)
Net actuarial loss amortization of net transition obligation and prior service costs related to defined benefit plans, net of tax	$ 0
Ending balance (in shares) at Jun. 25, 2021	189,581,621	189,581,621
Ending balance at Jun. 25, 2021	$ 619,379	$ 1,896	$ 597,001	$ 31,220	$ (11,865)	$ 1,127

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 27,707	$ 4,854
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	12,172	11,539
Amortization of deferred financing costs	25	0
Deferred income taxes	(1,454)	(578)
Stock-based compensation	4,831	445
Gain on disposal of assets	(35)	(38)
Loss on contingent consideration change in fair value	300	0
Provisions for inventory and credit losses/bad debt	1,613	(158)
Changes in operating assets and liabilities:
Trade accounts receivable	(9,956)	13,352
Accounts receivable - other	(97)	(689)
Inventories	5,142	(14,990)
Prepaid expenses and other assets	1,719	5,163
Trade accounts payable	(2,993)	4,833
Due to/from related parties	1,917	3,573
Accrued expenses and other current and long-term liabilities	(2,396)	(1,640)
Net cash provided by operating activities	38,495	25,666
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(15,346)	(7,974)
Contribution of cash balances due to divestiture of subsidiary	0	(16,335)
Net cash used in investing activities	(15,346)	(24,309)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net cash provided by financing activities	0	0
Effect of exchange rate changes on Cash and cash equivalents and Restricted cash	2,608	(1,269)
Net increase in Cash and cash equivalents and Restricted cash	25,757	88
Cash and cash equivalents and Restricted cash at beginning of period	203,875	219,876
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD:	229,632	219,964
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH:
Cash and cash equivalents	221,934	215,576
Restricted cash	7,698	4,388
Cash and cash equivalents and Restricted cash	229,632	219,964
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	269	155
Cash paid for income taxes	(538)	382
Noncash transactions:
Changes in Trade accounts payable related to Property, plant and equipment, net	(5,535)	(1,289)
Loans to cover purchase of common stock under employee stock plan	0	171
Recognition of right of use assets and lease liability upon adoption of new accounting standard	$ 356	$ 0

Nature of the Business and Basi

Nature of the Business and Basis of Presentation	3 Months Ended
	Jun. 25, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the Business and Basis of Presentation	Nature of the Business and Basis of Presentation Allegro MicroSystems, Inc., together with its consolidated subsidiaries (“AMI” or the “Company”), is a global leader in designing, developing and manufacturing sensing and power solutions for motion control and energy-efficient systems in automotive and industrial markets. The Company is headquartered in Manchester, New Hampshire and has a global footprint with 16 locations across four continents. The accompanying unaudited condensed consolidated financial statements have been prepared by the Company. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The unaudited condensed consolidated financial statements include the Company's accounts and those of its subsidiaries. All intercompany balances have been eliminated in consolidation. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K filed with the SEC on May 19, 2021 (the “2021 Annual Report”). In the opinion of the Company's management, the financial information for the interim periods presented reflects all adjustments necessary for a fair presentation of the Company's financial position, results of operations and cash. The results reported in these unaudited condensed consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. On November 2, 2020, the Company completed its initial public offering (“IPO”). Refer to Note 1, “Nature of Business and Basis of Presentation” to the Company’s 2021 Annual Report for details. Financial Periods The Company’s first quarter three-month period is a 13-week period ending on the Friday closest to the last day in June. The Company’s first quarter of fiscal 2022 ended June 25, 2021, and the Company’s first quarter of fiscal 2021 ended June 26, 2020.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jun. 25, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of contingencies at the date of the unaudited consolidated financial statements and the reported amounts of net sales and expenses during the reporting period. Such estimates relate to useful lives of fixed and intangible assets, allowances for doubtful accounts and customer returns and sales allowances. Such estimates could also relate to the fair value of acquired assets and liabilities, including goodwill and intangible assets, net realizable value of inventory, accrued liabilities, the valuation of stock-based awards, deferred tax valuation allowances, and other reserves. On an ongoing basis, management evaluates its estimates. Actual results could differ from those estimates, and such differences may be material to the unaudited condensed consolidated financial statements. Reclassifications Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications. Concentrations of Credit Risk and Significant Customers Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents with financial institutions, which management believes to be of a high credit quality. To manage credit risk related to accounts receivables, the Company evaluates the creditworthiness of its customers and maintains allowances, to the extent necessary, for potential credit losses based upon the aging of its accounts receivable balances and known collection issues. The Company has not experienced any significant credit losses to date. As of June 25, 2021 and March 26, 2021, Sanken Electric Co., Ltd. (“Sanken”) accounted for 23.2% and 22.7% of the Company’s outstanding trade accounts receivable, net, respectively, including related party trade accounts receivable. No other customers accounted for 10% or more of outstanding trade accounts receivable, net during those periods. For the three months ended June 25, 2021 and June 26, 2020, Sanken accounted for 18.8% and 20.5% of total net sales, respectively. No other customers accounted for 10% or more of total net sales for either of the three months ended June 25, 2021 or June 26, 2020. During the three months ended June 25, 2021, sales from customers located outside of the United States accounted for, in the aggregate, 85.7% of the Company’s total net sales, with Greater China accounting for 22.7% , Japan accounting for 18.8% and South Korea accounting for 11.7% . No other countries accounted for greater than 10% of total net sales for the three months ended June 25, 2021. During the three months ended June 26, 2020, sales from customers located outside of the United States, in the aggregate, accounted for 88.7% of the Company’s total net sales, with Greater China accounting for 27.9%, Japan accounting for 20.5% and South Korea accounting for 11.8%. No other countries accounted for greater than 10% of total net sales for the three months ended June 26, 2020. Recently Adopted Accounting Standards The Company qualifies as “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 and has elected to “opt in” to the extended transition related to complying with new or revised accounting standards, which means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company will adopt the new or revised standard at the time nonpublic companies adopt the new or revised standard and will do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. The Company may choose to early adopt any new or revised accounting standards whenever such early adoption is permitted for nonpublic companies. In February 2016, the Financial Accounting Standards Board (“FASB”) issued its new lease accounting guidance in Accounting Standards Update (“ASU”) 2016‑02, “Leases (Topic 842)” (“ASU 2016-02”), which is codified as Accounting Standard Codification (“ASC”) Topic 842 (“ASC 842”) and replaces ASC Topic 840, Leases (“ASC 840”). ASU 2016-02 and all subsequent amendments amends various aspects of existing guidance for leases and requires significant additional quantitative and qualitative disclosures about lease arrangements. ASU 2016-02 requires lessees to recognize lease assets representing the right to use an underlying asset and lease liabilities representing the obligation to make lease payments over the lease term, measured on a discounted basis, for substantially all leases. ASU 2016-02 retains a distinction between finance leases and operating leases using classification criteria that is substantially similar to the previous lease guidance. Although the Company has elected to opt-in to the extended transition dates for new or revised accounting standards to align with nonpublic companies, the Company elected to early adopt ASU 2016-02 effective March 27, 2021. The Company used the optional transition method to the modified retrospective approach, which eliminates the requirement to restate the prior period financial statements. Under this transition provision, the Company has applied ASU 2016-02 to reporting periods beginning on March 27, 2021, while prior periods continue to be reported and disclosed in accordance with the legacy guidance under ASC 840. A number of practical expedients and policy elections are available under the new guidance to reduce the burden of adoption and ongoing compliance with ASC 842. The Company elected the “package of practical expedients”, which permitted the Company to retain lease classification and initial direct costs for any identified leases that existed prior to adoption of ASC 842. Under this transition guidance, the Company also did not reassess whether any existing contracts at March 27, 2021 are or contain leases and carried forward its initial determination under legacy lease guidance. The Company has elected not to adopt the “hindsight” practical expedient and, therefore, will measure the right-of-use (“ROU”) asset and lease liability using the remaining portion of the lease term at adoption on March 27, 2021. The Company made an accounting policy election available under the new lease standard to not recognize lease assets and lease liabilities for leases with a term of 12 months or less. For all other leases, the initial measurement of the lease liability is based on the present value of future lease payments over the lease term at the application date or the commencement date of the lease. Lease payments may include fixed rent escalation clauses or payments that depend on an index or a rate (such as the consumer price index) measured using the index or applicable rate at lease commencement. Subsequent changes in the index or rate and any other variable payments, such as market-rate base rent adjustments, are recognized as variable lease expense in the period incurred. Payments for terminating a lease are included in lease payments only when it is probable they will be incurred. To determine the present value of lease payments, the Company uses its incremental borrowing rate, as the leases generally do not have a readily determinable implicit discount rate. The Company applies judgment in assessing factors such as Company-specific credit risk, lease term, nature and quality of the underlying collateral, currency and economic environment in determining the lease-specific incremental borrowing rate. The carrying value of the ROU assets at the application date equals the lease liability adjusted for any initial direct costs incurred and lease payments made at or before the commencement date and for any lease incentives. The Company’s leases generally include a non-lease component representing additional services transferred to the Company. The Company has made an accounting policy election to account for lease and non-lease components in its contacts as a single lease component for all asset classes. The non-lease components are usually variable in nature and recorded in variable lease expense in the period incurred. Adoption of ASC 842 resulted in ROU assets of $18,403 and lease liabilities of $18,759 related to the Company’s operating leases at March 27, 2021. The Company does not have any leases classified as finance leases. The adoption of ASC 842 did not materially impact the Company’s consolidated net income or consolidated cash flows and did not result in a cumulative-effect adjustment to the opening balance of retained earnings. In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”), which adds an impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses, which the FASB believes will result in more timely recognition of such losses. The ASU is also intended to reduce the complexity by decreasing the number of credit impairment models that entities use to account for debt instruments. The Company adopted ASU 2016-13 effective March 27, 2021 and concluded that the standard update did not have a material impact on either the financial position, results of operations, cash flows, or related disclosures. There was no impact on beginning balance retained earnings upon adoption of this ASU. The Company is exposed to credit losses primarily through trade and other financing receivables arising from revenue transactions. The Company uses an aging schedule method to estimate current expected credit losses based on days of delinquency, including information about past events and current economic conditions. The Company’s accounts receivable is separated int o two categories using a portfolio methodology to evaluate the allowance under the CECL impairment model based on sales categorization and similar credit quality and worthiness of the customers: original equipment manufacturers (“OEMs”) and distributors. The receivables in each category share similar risk characteristics. The change to the CECL impairment model resulted in an immaterial increase in the provision for expected credit losses compared to the allowance for doubtful accounts under the previous incurred loss method. The Company increases the allowance for expected credits losses when the Company determines all or a portion of a receivable is uncollectible. The Company recognizes recoveries as a decrease to the allowance for expected credit losses. For the three-month period ended June 25, 2021, no material changes in the allowance occurred. Recently Issued Accounting Standards Not Yet Adopted In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2021-04”). ASU 2021-04 outlines how an entity should account for modifications made to equity-classified written call options, including stock options and warrants to purchase the entity’s own common stock. The guidance in the ASU requires an entity to treat a modification of an equity-classified written call options that does not cause the option to become liability-classified as an exchange of the original option for a new option. This guidance applies whether the modification is structured as an amendment to the terms and conditions of the equity-classified written call option or as termination of the original option and issuance of a new option. The guidance is effective prospectively for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, including in an interim period as of the beginning of the fiscal year that includes that interim period. The Company is currently in the process of evaluating the impact of this new guidance on the consolidated financial statements and the related disclosures.

Revenue from Contract with Cust

Revenue from Contract with Customers	3 Months Ended
	Jun. 25, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers The Company generates revenue from the sale of magnetic sensor integrated circuits (“ICs”) and application-specific analog power semiconductors. The following tables summarize net sales disaggregated by application, by product and by geography for the three months ended June 25, 2021 and June 26, 2020. The categorization of net sales by application is determined using various characteristics of the product and the application into which the Company’s product will be incorporated. The categorization of net sales by geography is determined based on the location the products are being shipped to. Net sales by application: Three-Month Period Ended June 25, June 26, Automotive $ 133,523 $ 76,378 Industrial 30,309 20,406 Other 24,310 18,217 Total net sales $ 188,142 $ 115,001 Net sales by product: Three-Month Period Ended June 25, June 26, Power integrated circuits $ 66,672 $ 41,599 Magnetic sensors 120,642 73,402 Photonics 828 — Total net sales $ 188,142 $ 115,001 Net sales by geography: Three-Month Period Ended June 25, June 26, Americas: United States $ 26,841 $ 12,996 Other Americas 6,349 1,928 EMEA: Europe 34,751 17,846 Asia: Japan 35,453 23,620 Greater China 42,779 32,071 South Korea 21,933 13,612 Other Asia 20,036 12,928 Total net sales $ 188,142 $ 115,001 The Company recognizes sales net of returns, credits issued, price protection adjustments and stock rotation rights. At June 25, 2021 and March 26, 2021, these adjustments were $13,799 and $15,412, respectively, and were netted against trade accounts receivable in the unaudited consolidated balance sheets. These amounts represent activity of income and charges of $1,613 and $1,740, respectively, for the three months ended June 25, 2021 and June 26, 2020, respectively. Unsatisfied performance obligations primarily represent contracts for products with future delivery dates. The Company elected to not disclose the amount of unsatisfied performance obligations as these contracts have original expected durations of less than one year.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jun. 25, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables present information about the Company’s financial assets and liabilities as of June 25, 2021 and March 26, 2021 measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values: Fair Value Measurement at June 25, 2021 Using: Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market fund deposits $ 16,334 $ — $ — $ 16,334 Restricted cash: Money market fund deposits 7,698 — — 7,698 Total assets $ 24,032 $ — $ — $ 24,032 Liabilities: Other long-term liabilities: Contingent consideration $ — $ — $ 5,100 $ 5,100 Total liabilities $ — $ — $ 5,100 $ 5,100 Fair Value Measurement at March 26, 2021 Using: Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market fund deposits $ 16,327 $ — $ — $ 16,327 Restricted cash: Money market fund deposits 6,661 — — 6,661 Total assets $ 22,988 $ — $ — $ 22,988 Liabilities: Other long-term liabilities: Contingent consideration — — 4,800 4,800 Total liabilities $ — $ — $ 4,800 $ 4,800 The following table shows the change in fair value of Level 3 contingent consideration in connection with the fiscal year 2021 purchase of Voxtel, Inc. (“Voxtel”), a privately-held technology company located in Beaverton, Oregon that develops, manufactures and supplies photonic and advanced 3D imaging technologies (the “Voxtel Acquisition”), for the three-month period ended June 25, 2021: Level 3 Balance at March 26, 2021 $ 4,800 Change in fair value of contingent consideration 300 Balance at June 25, 2021 $ 5,100 Assets and liabilities measured at fair value on a recurring basis also consist of marketable securities, unit investment trust fund, loans, bonds, stock and other investments which are the Company’s defined benefit plan assets. Fair value information for those assets and liabilities, including their classification in the fair value hierarchy, is included in Note 14, “Retirement Plans.” During the three months ended June 25, 2021 and June 26, 2020, there were no transfers among Level 1, Level 2 and Level 3 asset or liabilities.

Trade Accounts Receivable, net

Trade Accounts Receivable, net	3 Months Ended
	Jun. 25, 2021
Receivables [Abstract]
Trade Accounts Receivable, net	Trade Accounts Receivable, net Trade accounts receivable, net (including related party trade accounts receivable) consisted of the following: June 25, March 26, Trade accounts receivable $ 115,189 $ 108,546 Less: Provision for expected credit losses and allowance for doubtful accounts (773) (138) Returns and sales allowances (13,026) (15,274) Related party trade accounts receivable (23,547) (23,634) Total $ 77,843 $ 69,500 Changes in the Company’s allowance for doubtful accounts and returns and sales allowances were as follows: Description Allowance for Returns Total Balance at March 26, 2021 $ 138 $ 15,274 $ 15,412 Charged to costs and expenses or revenue 635 40,582 41,217 Write-offs, net of recoveries — (42,830) (42,830) Balance at June 25, 2021 $ 773 $ 13,026 $ 13,799 Description Allowance for Returns Total Balance at March 27, 2020 $ 288 $ 17,185 $ 17,473 Charged to costs and expenses or revenue — 28,995 28,995 Write-offs, net of recoveries — (27,255) (27,255) Balance at June 26, 2020 $ 288 $ 18,925 $ 19,213

Inventories

Inventories	3 Months Ended
	Jun. 25, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories include material, labor and overhead and consisted of the following: June 25, March 26, Raw materials and supplies $ 9,295 $ 9,629 Work in process 44,739 50,095 Finished goods 28,322 27,774 Total $ 82,356 $ 87,498 The Company recorded inventory provisions totaling $3,189 and $1,583 for the three months ended June 25, 2021 and June 26, 2020, respectively. During the three months ended June 25, 2021, the Company discontinued a product line manufactured by Voxtel and subsequently recognized impairment charges for the related inventory, which represented most of the increase in inventory provisions.

Assets Held For Sale

Assets Held For Sale	3 Months Ended
	Jun. 25, 2021
Discontinued Operations and Disposal Groups [Abstract]
Assets Held For Sale	Assets Held for SaleAs of March 26, 2021, the Company had entered into a definitive agreement to sell its Thailand-based facility (the “AMTC Facility”) as it had already transferred production to the Manila, Philippines facility, which was reclassified from Property, plant and equipment, net to Assets held for sale in fiscal year 2021. The sale of the AMTC Facility is expected to close within the calendar year, subject to government approvals in Thailand and customary closing conditions. The change in carrying value of the assets held for sale from March 26, 2021 to June 25, 2021 of $660 was related to the impact of foreign currency translation.

Property, Plant and Equipment,

Property, Plant and Equipment, net	3 Months Ended
	Jun. 25, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment, net is stated at cost, and consisted of the following: June 25, March 26, Land $ 16,573 $ 16,602 Buildings, building improvements and leasehold improvements 57,953 56,911 Machinery and equipment 514,831 491,025 Office equipment 6,300 6,281 Construction in progress 19,779 29,201 Total 615,436 600,020 Less accumulated depreciation (418,443) (407,627) Total $ 196,993 $ 192,393 Total depreciation expense amounted to $11,120 and $10,809 for the three months ended June 25, 2021 and June 26, 2020, respectively. Long-lived assets include property, plant and equipment and related deposits on such assets, and capitalized tooling costs. The geographic locations of the Company's long-lived assets, net, based on physical location of the assets, as of June 25, 2021 and March 26, 2021 are as follows: June 25, March 26, United States $ 36,726 $ 36,529 Philippines 153,282 148,374 Thailand — 1,698 Other 7,331 7,190 Total $ 197,339 $ 193,791 Amortization of prepaid tooling costs amounted to $33 and $17 for the three months ended June 25, 2021 and June 26, 2020, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Jun. 25, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The table below summarizes the changes in the carrying amount of goodwill as follows: Total Balance at March 26, 2021 $ 20,106 Currency translation 12 Balance at June 25, 2021 $ 20,118 Intangible assets, net is as follows: June 25, 2021 Description Gross Accumulated Net Carrying Weighted- Average Lives Patents $ 33,703 $ 13,013 $ 20,690 10 years Customer relationships 6,923 6,610 313 9 years Process technology 13,100 924 12,176 12 years Indefinite-lived and legacy process technology 4,050 1,650 2,400 Trademarks 200 34 166 5 years Legacy trademarks 627 71 556 Other 32 32 — Total $ 58,635 $ 22,334 $ 36,301 March 26, 2021 Description Gross Accumulated Net Carrying Weighted- Average Lives Patents $ 32,751 $ 12,307 $ 20,444 10 years Customer relationships 6,193 5,865 328 9 years Process technology 13,100 651 12,449 12 years Indefinite-lived and legacy process technology 4,050 1,650 2,400 Trademarks 200 24 176 5 years Legacy trademarks 627 58 569 Other 32 32 — Total $ 56,953 $ 20,587 $ 36,366 Intangible assets amortization expense was $1,019 and $713 for the three months ended June 25, 2021 and June 26, 2020, respectively. The majority of the Company’s intangible assets are related to patents as noted above. The Company capitalizes external legal costs incurred in the defense of its patents when it believes that a significant, discernible increase in value will result from the defense and a successful outcome of the legal action is probable. When the Company capitalizes patent defense costs, it amortizes these costs over the remaining estimated useful life of the patent, which is generally 10 years. There were no such costs capitalized during either of the first three months of fiscal years 2022 or 2021. As of June 25, 2021, annual amortization expense of intangible assets for the next five fiscal years is expected to be as follows: Remainder of 2022 $ 2,626 2023 3,363 2024 3,244 2025 3,042 2026 2,826 Thereafter 21,200 Total $ 36,301

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Jun. 25, 2021
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities The composition of accrued expenses and other current liabilities is as follows: June 25, March 26, Accrued management incentives $ 8,013 $ 21,538 Accrued salaries and wages 22,282 15,060 Base acquisition purchase price due 14,588 14,588 Deposits on AMTC Facility 14,162 14,531 Accrued vacation 5,969 5,739 Accrued severance 710 572 Accrued professional fees 2,293 2,029 Accrued income taxes 3,711 514 Accrued utilities 708 623 Other current liabilities 4,335 3,738 Total $ 76,771 $ 78,932

Leases

Leases	3 Months Ended
	Jun. 25, 2021
Leases [Abstract]
Leases	Leases The Company determines if an arrangement is or contains a lease at inception, which is the date on which the terms of the contract are agreed to and the agreement creates enforceable rights and obligations. The Company also considers whether its service arrangements include the right to control the use of an asset. The Company leases real estate, equipment and vehicles under operating lease agreements that have initial terms ranging from 1 to 11 years. The Company does not have any leases classified as finance leases. Some leases include one or more options to exercise renewal terms, generally at the Company’s sole discretion, that can extend the lease term. Certain leases contain rights to terminate whereby those termination options are held by either the Company, the lessor, or both parties. These options to extend or terminate a lease are included in the lease term only when it is reasonably certain that the Company will exercise that option. The Company’s leases generally do not contain any material restrictive covenants. Operating lease cost is recognized on a straight-line basis over the lease term. Information regarding the Company’s leases are as follows: Three-Month Period Ended June 25, Lease costs: Operating lease expense $ 1,149 Short term lease expense 55 Other information: Operating cash flows from operating leases $ 1,230 Weighted-average remaining lease term – operating leases 5.97 years Weighted-average discount rate – operating leases 4.6 % Rent expense incurred under operating lease agreements was $1,235 and $1,183 for the three months ended June 25, 2021 and June 26, 2020, respectively. As of June 25, 2021, expirations of lease obligations by fiscal year were as follows: Remainder of 2022 $ 3,149 2023 3,694 2024 3,296 2025 3,021 2026 2,639 Thereafter 4,496 Total undiscounted lease payments $ 20,295 Less: present value adjustment (2,601) Total operating lease liabilities $ 17,694 Information as Lessee under ASC 840 Future minimum lease payments for noncancellable operating leases as reported under the previous lease guidance as of March 26, 2021 are as follows: 2022 $ 2,887 2023 2,726 2024 2,644 2025 2,172 2026 1,773 Thereafter 3,713 Total $ 15,915

Debt and Other Borrowings

Debt and Other Borrowings	3 Months Ended
	Jun. 25, 2021
Debt Disclosure [Abstract]
Debt and Other Borrowings	Debt and Other Borrowings On September 30, 2020, the Company entered into a term loan credit agreement with Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent, and the other agents, arrangers and lenders party thereto, providing for a $325,000 senior secured term loan facility due in 2027 (the “Term Loan Facility”). On September 30, 2020, the Company also entered into a revolving facility credit agreement with Mizuho Bank, Ltd., as administrative agent and collateral agent, and the other agents, arrangers and lenders party thereto, providing for a $50,000 senior secured revolving credit facility expiring in 2023 (the “Revolving Credit Facility” and, together with the Term Loan Facility, the “Senior Secured Credit Facilities”). The Revolving Credit Facility is secured by a lien on the same collateral and on the same basis as the Term Loan Facility. Interest on the Term Loan Facility is calculated at LIBOR plus 3.75% to 4.00% based on the Company’s net leverage ratio, and LIBOR is subject to a 0.5% floor. The Company’s outstanding borrowings bore an interest rate of 4.25% at June 25, 2021. As of both June 25, 2021 and March 26, 2021, the Company had $25,000 outstanding under the Term Loan Facility and had not borrowed on the Revolving Credit Facility. Included in the Term Loan Facility were deferred financing costs of $9,374, which the Company has deducted from the carrying amount presented on its unaudited consolidated balance sheet and amortized into interest expense or recognized as loss on debt extinguishment . Included in the Revolving Credit Facility were deferred financing costs of $300, which the Company classified the related short-term and long-term portions within “Prepaid expenses and other current assets” and “Other assets” on its unaudited consolidated balance sheet and is amortizing those costs over the term of the facility. The unamortized portion of the deferred financing costs associated with the Revolving Credit Facility was $224 at June 25, 2021. On November 26, 2019, the Company, through its subsidiaries, entered into a line of credit agreement with a financial institution that provides for a maximum borrowing capacity of 60,000 Philippine pesos (approximately $1,230 at June 25, 2021) at the bank’s prevailing interest rate. The line of credit is due to expire on August 31, 2021. There were no borrowings outstanding under this line of credit as of June 25, 2021 and March 26, 2021. On November 20, 2019, the Company, through its subsidiaries, entered into a line of credit agreement with a financial institution that provides for a maximum capacity of 75,000 Philippine pesos (approximately $1,537 at June 25, 2021) at the bank’s prevailing interest rate. There were no borrowings outstanding under this line of credit as of June 25, 2021 and March 26, 2021. The line of credit expired on June 30, 2021, subsequent to that date, due to delays as a result of the current pandemic situation and its impact with the bank operations. The bank notified the Company of an extension up to September 28, 2021 for all paperwork to be processed.

Other Long-Term Liabilities

Other Long-Term Liabilities	3 Months Ended
	Jun. 25, 2021
Other Liabilities Disclosure [Abstract]
Other Long-Term Liabilities	Other Long-Term Liabilities The composition of other long-term liabilities is as follows: June 25, March 26, Accrued management incentives $ 543 $ 628 Accrued retirement 10,810 10,656 Accrued contingent consideration 5,100 4,800 Provision for uncertain tax positions (net) 2,791 2,774 Other — 275 Total $ 19,244 $ 19,133

Retirement Plans

Retirement Plans	3 Months Ended
	Jun. 25, 2021
Retirement Benefits [Abstract]
Retirement Plans	Retirement PlansThe Company recognizes the funded status (i.e., the difference between the fair value of plan assets and the benefit obligations) of its defined benefit pension plans in its unaudited consolidated balance sheets with a corresponding adjustment to accumulated other comprehensive income, net of tax. These amounts will continue to be recognized as a component of future net periodic benefit costs consistent with the Company’s past practice. Further, actuarial gains and losses and prior service costs that arise in future periods and are not recognized as net periodic benefit costs in the same periods will be recognized as a component of other comprehensive income. Those amounts will also be recognized as a component of future net periodic benefit costs consistent with the Company’s past practice. The Company uses a measurement date for its defined benefit pension plans and other postretirement benefit plans that is equivalent to its fiscal year-end. Plan Descriptions Non-U.S. Defined Benefit Plan The Company, through its wholly owned subsidiary, Allegro MicroSystems Philippines, Inc. (“AMPI”), has a defined benefit pension plan, which is a noncontributory plan that covers substantially all employees of the respective subsidiary. The plan’s assets are invested in common trust funds, bonds and other debt instruments and stocks. Effect on the unaudited statements of operations Expense related to the non-United States (“U.S”). defined benefit plan was as follows: Three-Month Period Ended June 25, June 26, Service cost $ 383 $ 270 Interest cost 166 152 Expected return on plan assets (79) (78) Amortization of prior service cost — 2 Actuarial loss 53 34 Net periodic pension expense $ 523 $ 380 Information on Plan Assets The table below sets forth the fair value of the entity’s plan assets as of June 25, 2021 and March 26, 2021, using the same three-level hierarchy of fair value inputs described in the significant accounting policies included in the Company’s 2021 Annual Report. Fair Value at June 25, Level 1 Level 2 Level 3 Assets of non-U.S. defined benefit plan: Government securities $ 1,832 $ 1,832 $ — $ — Unit investment trust fund 1,079 — 1,079 — Loans 633 — — 633 Bonds 983 — 983 — Stocks and other investments 2,568 1,436 2 1,130 Total $ 7,095 $ 3,268 $ 2,064 $ 1,763 Fair Value at March 26, Level 1 Level 2 Level 3 Assets of non-U.S. defined benefit plan: Government securities $ 1,646 $ 1,646 $ — $ — Unit investment trust fund 1,221 — 1,221 — Loans 584 — — 584 Bonds 1,112 — 1,112 — Stocks and other investments 3,081 1,947 1 1,133 Total $ 7,644 $ 3,593 $ 2,334 $ 1,717 The following table shows the change in fair value of Level 3 plan assets for the three months ended June 25, 2021: Level 3 Non-U.S. Defined Plan Assets Loans Stocks Balance at March 26, 2021 $ 584 $ 1,133 Additions during the year 159 — Redemptions during the year (107) — Revaluation of equity securities (1) — Change in foreign currency exchange rates (2) (3) Balance at June 25, 2021 $ 633 $ 1,130 The investments in the Company’s major benefit plans largely consist of low-cost, broad-market index funds to mitigate risks of concentration within the market sectors. In recent years, the Company’s investment policy has shifted toward a closer matching of the interest-rate sensitivity of the plan assets and liabilities. The appropriate mix of equity and bond investments is determined primarily through the use of detailed asset-liability modeling studies that look to balance the impact of changes in the discount rate against the need to provide asset growth to cover future service cost. The Company, through its wholly owned subsidiary, Allegro MicroSystems, LLC’s (“AML”), non-U.S. defined benefit plan, has added a greater proportion of fixed income securities with return characteristics that are more closely aligned with changes in liabilities caused by discount rate volatility. There are no significant restrictions on the amount or nature of the investments that may be acquired or held by the plans. During the three months ended June 25, 2021 and June 26, 2020, the Company contributed approximately $353 and $240 to its non-U.S. pension plan, respectively. The Company expects to contribute approximately $943 to its non-U.S. pension plan in fiscal year 2021. Other Defined Benefit Plans In December 1993, the Company commenced with a rollover pension promise agreement (“Pension Promise”) to offer a then European employee an insured annuity upon their retirement at age 65. The employee was the only eligible participant of the Pension Promise. The impact associated with the expense and related other income with the Pension Promise was insignificant in fiscal years 2021 and 2020, respectively. The total values of the Pension Promise in the amounts of 703 an d 928 British Pounds Sterling at June 25, 2021 and March 26, 2021, respectively (approximate ly $1,107 and $1,272 at June 25, 2021 and March 26, 2021, respectively), were classified with other in other assets, net and accrued retirement in other long-term liabilities in the Company’s unaudited consolidated balance sheets. Defined Contribution Plan The Company has a 401(k) plan that covers all employees meeting certain service and age requirements. Employees are eligible to participate in the plan upon hire when the service and age requirements are met. Employees may contribute up to 35% of their compensation, subject to the maximum contribution allowed by the Internal Revenue Service. All employees are 100% vested in their contributions at the time of plan entry. Eligible AML U.S. employees may contribute up to 50% of their pretax compensation to a defined contribution plan, subject to certain limitations, and AML may match, at its discretion, 100% of the participants’ pretax contributions, up to a maximum of 5% of their eligible compensation. Matching contributions by AML totaled approximatel y $1,256 and $1,029 for the three months ended June 25, 2021 and June 26, 2020, respectively. The Company, through its AML subsidiary, Allegro MicroSystems Europe, Ltd. (“Allegro Europe”), also has a defined contribution plan (the “AME Plan”) covering substantially all employees of Allegro Europe. Contributions to the AME Plan by the Company totaled approximately $218 and $179 for the three months ended June 25, 2021 and June 26, 2020, respectively.

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Jun. 25, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Insurance The Company, through its subsidiaries, utilizes self-insured employee health programs for employees in the United States. The Company records estimated liabilities for its self-insured health programs based on information provided by the third-party plan administrators, historical claims experience and expected costs of claims incurred but not reported. The Company monitors its estimated liabilities on a quarterly basis. As facts change, it may become necessary to make adjustments that could be material to the Company’s unaudited consolidated financial position and results of operations. The accrued liability related to self-insurance wa s $1,585 and $1,518 as of June 25, 2021 and March 26, 2021, respectively, and was included in accrued expenses and other current liabilities in the Company’s unaudited consolidated balance sheets. Legal proceedings The Company is subject to various legal proceedings and claims, the outcomes of which are subject to significant uncertainty. The Company records an accrual for legal contingencies when it is determined that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. In making such determinations, the Company evaluates, among other things, the degree of probability of an unfavorable outcome and, when it is probable that a liability has been incurred, and the ability to make a reasonable estimate of the loss. If the occurrence of liability is probable, the Company will disclose the nature of the contingency, and if estimable, will provide the likely amount of such loss or range of loss. Furthermore, the Company does not believe there are any matters that could have a material adverse effect on financial position, results of operations or cash flows. Indemnification From time to time, the Company has agreed to indemnify and hold harmless certain customers for potential allegations of infringement of intellectual property rights and patents arising from the use of its products. To date, the Company has not incurred any costs in connection with such indemnification arrangements; therefore, there was no accrual of such amounts at June 25, 2021 or March 26, 2021. Environmental Matters The Company establishes accrued liabilities for environmental matters when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. If the contingency is resolved for an amount greater or less than the accrual, or the Company’s share of the contingency increases or decreases or other assumptions relevant to the development of the estimate were to change, the Company would recognize an additional expense or benefit in the unaudited consolidated statements of operations during the period such determination was made. No environmental accruals were established at June 25, 2021 or March 26, 2021.

Net Income per Share

Net Income per Share	3 Months Ended
	Jun. 25, 2021
Earnings Per Share [Abstract]
Net Income per Share	Net Income per Share In connection with completion of the Company’s IPO on November 2, 2020 and immediately following the pricing of the IPO, all outstanding shares of Class A common stock and Class L common stock were automatically converted into an aggregate of 166,500,000 shares of common stock (the “Common Stock Conversion”). Outstanding shares of Class A and Class L common stock were converted to common stock in the Common Stock Conversion at conversion rates of approximately 15.822 and 13.010 shares of common stock to each share of Class A and Class L common stock, respectively. As part of the Common Stock Conversion, 2,066,508 and 1,766 shares of common stock were returned to the Company for tax payments made on behalf of holders of Class A common stock and Class L common stock, respectively, in withhold to cover tax transactions. Prior to the Company’s IPO, shares of Class A common stock were entitled to a priority dividend of 8%. After Class A shareholders received an annualized return on capital of 8%, distributions of the remaining value were split between Class A and Class L shareholders based on the achievement of certain return targets. In determining income to the Class A stockholders for computing basic and diluted earnings per share for the three months ended June 26, 2020, the Company did not allocate income to the shares of Class L common stock in accordance with ASC 260, because such classes of shares would not have shared in the distribution had all of the income for the periods been distributed. Accordingly, earnings per share calculations were provided only for the Class A shares with a weighted average of 10,000,000 shares for the three months ended June 26, 2020. The following table sets forth the basic and diluted net income attributable to Allegro MicroSystems, Inc. per share. The number of shares of common stock reflected in the calculation is the total shares of common stock (vested and unvested) held on the IPO date, after the Common Stock Conversion. Three-Month Period Ended June 25, June 26, Net income attributable to Allegro MicroSystems, Inc. $ 27,669 $ 4,820 Net income attributable to common stockholders 27,707 4,854 Basic weighted average shares of common stock 189,585,381 10,000,000 Dilutive effect of common stock equivalents 1,577,693 — Diluted weighted average shares of common stock 191,163,074 10,000,000 Basic net income attributable to Allegro MicroSystems, Inc. per share $ 0.15 $ 0.48 Basic net income attributable to common stockholders per share $ 0.15 $ 0.49 Diluted net income attributable to Allegro MicroSystems, Inc. per share $ 0.14 $ 0.48 Diluted net income attributable to common stockholders per share $ 0.14 $ 0.49 The computed net income per share for the three months ended June 25, 2021 and June 26, 2020 does not assume conversion of securities that would have an antidilutive effect on income per share. There were 1,988 restricted share units (“RSUs”) excluded for the three months ended June 25, 2021 as conversion of such securities would have an antidilutive effect on income per share. There were no such convertible securities to consider for the three months ended June 26, 2020. The following represents issuable weighted average share information for the respective periods: Three-Month Period Ended June 25, June 26, Restricted stock units 820,221 — Performance stock units 752,235 — Employee stock purchase plan 5,237 — Total 1,577,693 —

Common Stock and Stock-Based Co

Common Stock and Stock-Based Compensation	3 Months Ended
	Jun. 25, 2021
Share-based Payment Arrangement [Abstract]
Common Stock and Stock-Based Compensation	Common Stock and Stock-Based Compensation The Company accounts for stock-based compensation through the measurement and recognition of compensation expense for share-based payment awards made to employees over the related requisite service period, including stock options, performance share units (“PSUs”), RSUs and restricted shares (all part of our equity incentive plan). During the three months ended June 25, 2021, the Company granted 894,876 RSUs to employees with an estimated grant date fair value of $24.79. Stock-based compensation expense related to non-vested awards not yet recorded at June 25, 2021 was $31,320, which is expected to be recognized over a weighted-average of 1.78 years. During the three months ended June 25, 2021, 3,217 shares vested. PSUs are included at 100% - 200% of target goals. The intrinsic value of the PSU’s vested during the three months ended June 25, 2021 was $30,490. The total compensation cost related to non-vested awards not yet recorded at June 25, 2021 was $19,420, which is expected to be recognized over a weighted average of 2.28 years. No shares vested during the three months ended June 25, 2021. During the three months ended June 25, 2021, 54,729 shares of the Company’s restricted common stock vested. In addition, 9,757 shares were forfeited, which reduced common stock outstanding during the same period. The Company had 341,841 unvested shares of restricted common stock at June 25, 2021 with a weighted average grant date fair value of $14.00 and remaining vesting period of 1.58 years. The Company recorded stock-based compensation expense in the following expense categories of its unaudited consolidated statements of operations: Three-Month Period Ended June 25, June 26, Cost of sales $ 528 $ 97 Research and development 752 21 Selling, general and administrative 3,551 327 Total stock-based compensation $ 4,831 $ 445

Income Taxes

Income Taxes	3 Months Ended
	Jun. 25, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded the following tax (benefit) provision in its unaudited consolidated statements of operations: Three-Month Period Ended June 25, June 26, Operating taxes $ 5,118 $ 816 Discrete tax items (855) (288) Provision for income taxes $ 4,263 $ 528 Annual operating tax rate 15.9 % 15.2 % Effective tax rate 13.3 % 9.8 % The Company’s provision for income taxes is comprised of the year-to-date taxes based on an estimate of the annual effective tax rate plus the tax impact of discrete items. The Company is subject to tax in the U.S. and various foreign jurisdictions. The Company’s effective tax rate can fluctuate primarily based on: the mix of its U.S. and foreign income; the impact of discrete transactions; and the difference between the amount of tax benefit generated by the foreign derived intangible income deduction (“FDII”) and research credits offset by the additional tax from the global intangible low-tax income (“GILTI”). The Company regularly assesses the likelihood of outcomes that could result from the examination of its tax returns by the IRS, and other tax authorities to determine the adequacy of its income tax reserves and expense. Should actual events or results differ from the Company’s then-current expectations, charges or credits to the Company’s provision for income taxes may become necessary. Any such adjustments could have a significant effect on the results of operations. Income tax expense and the effective income tax rate were $4,263, or 13.3%, and $528, or 9.8%, for the three-month periods ending June 25, 2021 and June 26, 2020, respectively. The fluctuation in our effective income tax rate relates primarily to differences in our US taxable income, estimated FDII benefits, research credits, non-deductible stock-based compensation charges, and discrete tax items.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Jun. 25, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Transactions involving Sanken The Company sells products to, and purchases in-process products from, Sanken. In addition, prior to March 28, 2020, the Company also sold products for Sanken. Net sales of Company’s products to Sanken totaled $35,453 and $23,620 during the three months ended June 25, 2021 and June 26, 2020, respectively. Trade accounts receivables, net of allowances from Sanken, totaled $23,545 and $21,595 as of June 25, 2021 and March 26, 2021, respectively. Other accounts receivable from Sanken totaled $110 and $198 as of June 25, 2021 and March 26, 2021, respectively. Transactions involving PSL In May 2009, the Company entered into a technology development agreement (the “IC Technology Development Agreement”) with Polar Semiconductor, Inc. (“PSI”), which was subsequently changed to Polar Semiconductor, LLC (“PSL”), and Sanken, pursuant to which the parties agreed upon the general terms under which they may, from time to time, undertake certain activities (the “IC Process Development Activities”) to develop new technologies to be used by PSI to manufacture products for the Company and Sanken, as well as the ownership and use of such technologies following their development. The IC Technology Development Agreement provides that the expenses for all IC Process Development Activities will be shared equally by the Company and Sanken on an annual basis (subject to any exceptions upon which the parties may agree from time to time), with such expenses being paid to PSI by Sanken in the form of an up-front annual fee, with PSI being responsible for any expenses that exceed the amount of such fee. The IC Technology Development Agreement will continue in effect until such time as the Company, PSL and Sanken mutually agree to its termination or adopt a successor agreement, or in the event the companies fail to agree upon the annual fee for a fiscal year within three months after the commencement of such fiscal year. During both of the three months ended June 25, 2021 and June 26, 2020, the Company (through PSL) received no fees from Sanken pursuant to the IC Technology Development Agreement, and, during the same periods, the Company paid no fees to PSL pursuant to the IC Technology Development Agreement. There are also no expected payments to be made during the remainder of fiscal year 2022 and beyond. In April 2015, PSL and Sanken entered into a discrete technology development agreement (as amended, the “Discrete Technology Development Agreement”), pursuant to which the parties agreed upon the general terms under which they, from time to time, undertook certain activities (the “Discrete Development Activities”) to develop new technologies to be used by PSL to manufacture products for Sanken, as well as the ownership and use of such technologies following their development. In June 2018, the Company, PSL and Sanken entered into an amendment to the Discrete Technology Development Agreement pursuant to which the parties agreed to the assignment of all rights and obligations of PSL under such agreement to the Company and to certain amendments to the terms of such agreement. The Discrete Technology Development Agreement provided that the expenses for all Discrete Development Activities to be shared equally by the Company and Sanken on an annual basis (subject to any exceptions upon which the parties agreed to from time to time). As of March 26, 2021, the Company had accrued $614 included in amounts due to related party under this agreement, which was paid in the first quarter of fiscal year 2022. The agreement in accordance with its terms of the Amendment 2, Article 10, terminated on March 31, 2021. On March 28, 2020, the Company entered into an agreement to divest a majority of its ownership interest in PSL to Sanken, in order to better align with its fabless, asset-lite scalable manufacturing strategy (the “PSL Divestiture”). In addition, this also resulted in PSL taking over the Sanken distribution business at the same time. The Company continues to purchase in-process products from PSL. Purchases of various products from PSL totaled $13,380 and $11,923 for the three months ended June 25, 2021 and June 26, 2020, respectively. These amounts include $— and $1,800 of price support payments made for the three months ended June 25, 2021 and June 26, 2020, respectively. The price support payments were for fiscal year 2021 only and no such payments are expected to be made in fiscal 2021 and beyond. Accounts payable to PSL included in amounts due to related party totaled $4,119 and $1,739 as of June 25, 2021 and March 26, 2021, respectively. Transactions involving Sanken Electric Europe Ltd. (“SEEL”) During fiscal year ended March 26, 2021 and after the PSL Divestiture, Sanken, through PSL formed SEEL to cover its distribution business in Europe. The Company in connection with the TSA agreement with Sanken and PSL paid certain costs on behalf of them, and as such, had related party accounts receivable from SEEL of $16 and $1,272 as of June 25, 2021 and March 26, 2021, respectively. Sublease Agreement In 2014, the Company, through one of its subsidiaries, entered into a sublease agreement with Sanken pursuant to which it subleases certain office building space in Japan from Sanken. The sublease automatically renews on an annual basis unless either party provides notice to the other party otherwise and can be terminated by either party upon providing six months’ notice. The Company made aggregate payments of approximately $56 and $57 to Sanken under the sublease agreement during each of the three months ended June 25, 2021 and June 26, 2020, respectively. Consulting Agreement The Company entered into a board executive advisor agreement (the “Consulting Agreement”) with Reza Kazerounian in June 2018, before Mr. Kazerounian became a member of the Company’s board of directors, pursuant to which the Company engaged Mr. Kazerounian to serve as executive advisor to the board of directors and the office of Chief Executive Officer. The Consulting Agreement provides for a fee payable to Mr. Kazerounian on a monthly basis in exchange for his services (which fee was reduced from $30 per month to $19 per month in connection with Mr. Kazerounian’s appointment to the board of directors in June 2018), as well as a grant of 12,000 shares of the Company’s Class L common stock and a signing bonus of $54 in connection with the execution of the Consulting Agreement. The Consulting Agreement provides that if Mr. Kazerounian is terminated by the board of directors, he will be entitled to a severance payment in the amount of $180 as well as a six-month vesting acceleration of his shares of Class L common stock. The board of directors and Mr. Kazerounian each have the right to terminate the Consulting Agreement at any time. During the three months ended June 25, 2021 and June 26, 2020, the Company paid aggregate fees of $56 and $90, respectively, to Mr. Kazerounian pursuant to the Consulting Agreement.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 25, 2021
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of contingencies at the date of the unaudited consolidated financial statements and the reported amounts of net sales and expenses during the reporting period. Such estimates relate to useful lives of fixed and intangible assets, allowances for doubtful accounts and customer returns and sales allowances. Such estimates could also relate to the fair value of acquired assets and liabilities, including goodwill and intangible assets, net realizable value of inventory, accrued liabilities, the valuation of stock-based awards, deferred tax valuation allowances, and other reserves. On an ongoing basis, management evaluates its estimates. Actual results could differ from those estimates, and such differences may be material to the unaudited condensed consolidated financial statements.
Reclassifications	Reclassifications Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications.
Concentrations of Credit Risk and Significant Customers	Concentrations of Credit Risk and Significant Customers Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents with financial institutions, which management believes to be of a high credit quality. To manage credit risk related to accounts receivables, the Company evaluates the creditworthiness of its customers and maintains allowances, to the extent necessary, for potential credit losses based upon the aging of its accounts receivable balances and known collection issues.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards The Company qualifies as “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 and has elected to “opt in” to the extended transition related to complying with new or revised accounting standards, which means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company will adopt the new or revised standard at the time nonpublic companies adopt the new or revised standard and will do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. The Company may choose to early adopt any new or revised accounting standards whenever such early adoption is permitted for nonpublic companies. In February 2016, the Financial Accounting Standards Board (“FASB”) issued its new lease accounting guidance in Accounting Standards Update (“ASU”) 2016‑02, “Leases (Topic 842)” (“ASU 2016-02”), which is codified as Accounting Standard Codification (“ASC”) Topic 842 (“ASC 842”) and replaces ASC Topic 840, Leases (“ASC 840”). ASU 2016-02 and all subsequent amendments amends various aspects of existing guidance for leases and requires significant additional quantitative and qualitative disclosures about lease arrangements. ASU 2016-02 requires lessees to recognize lease assets representing the right to use an underlying asset and lease liabilities representing the obligation to make lease payments over the lease term, measured on a discounted basis, for substantially all leases. ASU 2016-02 retains a distinction between finance leases and operating leases using classification criteria that is substantially similar to the previous lease guidance. Although the Company has elected to opt-in to the extended transition dates for new or revised accounting standards to align with nonpublic companies, the Company elected to early adopt ASU 2016-02 effective March 27, 2021. The Company used the optional transition method to the modified retrospective approach, which eliminates the requirement to restate the prior period financial statements. Under this transition provision, the Company has applied ASU 2016-02 to reporting periods beginning on March 27, 2021, while prior periods continue to be reported and disclosed in accordance with the legacy guidance under ASC 840. A number of practical expedients and policy elections are available under the new guidance to reduce the burden of adoption and ongoing compliance with ASC 842. The Company elected the “package of practical expedients”, which permitted the Company to retain lease classification and initial direct costs for any identified leases that existed prior to adoption of ASC 842. Under this transition guidance, the Company also did not reassess whether any existing contracts at March 27, 2021 are or contain leases and carried forward its initial determination under legacy lease guidance. The Company has elected not to adopt the “hindsight” practical expedient and, therefore, will measure the right-of-use (“ROU”) asset and lease liability using the remaining portion of the lease term at adoption on March 27, 2021. The Company made an accounting policy election available under the new lease standard to not recognize lease assets and lease liabilities for leases with a term of 12 months or less. For all other leases, the initial measurement of the lease liability is based on the present value of future lease payments over the lease term at the application date or the commencement date of the lease. Lease payments may include fixed rent escalation clauses or payments that depend on an index or a rate (such as the consumer price index) measured using the index or applicable rate at lease commencement. Subsequent changes in the index or rate and any other variable payments, such as market-rate base rent adjustments, are recognized as variable lease expense in the period incurred. Payments for terminating a lease are included in lease payments only when it is probable they will be incurred. To determine the present value of lease payments, the Company uses its incremental borrowing rate, as the leases generally do not have a readily determinable implicit discount rate. The Company applies judgment in assessing factors such as Company-specific credit risk, lease term, nature and quality of the underlying collateral, currency and economic environment in determining the lease-specific incremental borrowing rate. The carrying value of the ROU assets at the application date equals the lease liability adjusted for any initial direct costs incurred and lease payments made at or before the commencement date and for any lease incentives. The Company’s leases generally include a non-lease component representing additional services transferred to the Company. The Company has made an accounting policy election to account for lease and non-lease components in its contacts as a single lease component for all asset classes. The non-lease components are usually variable in nature and recorded in variable lease expense in the period incurred. Adoption of ASC 842 resulted in ROU assets of $18,403 and lease liabilities of $18,759 related to the Company’s operating leases at March 27, 2021. The Company does not have any leases classified as finance leases. The adoption of ASC 842 did not materially impact the Company’s consolidated net income or consolidated cash flows and did not result in a cumulative-effect adjustment to the opening balance of retained earnings. In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”), which adds an impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses, which the FASB believes will result in more timely recognition of such losses. The ASU is also intended to reduce the complexity by decreasing the number of credit impairment models that entities use to account for debt instruments. The Company adopted ASU 2016-13 effective March 27, 2021 and concluded that the standard update did not have a material impact on either the financial position, results of operations, cash flows, or related disclosures. There was no impact on beginning balance retained earnings upon adoption of this ASU. The Company is exposed to credit losses primarily through trade and other financing receivables arising from revenue transactions. The Company uses an aging schedule method to estimate current expected credit losses based on days of delinquency, including information about past events and current economic conditions. The Company’s accounts receivable is separated int o two categories using a portfolio methodology to evaluate the allowance under the CECL impairment model based on sales categorization and similar credit quality and worthiness of the customers: original equipment manufacturers (“OEMs”) and distributors. The receivables in each category share similar risk characteristics. The change to the CECL impairment model resulted in an immaterial increase in the provision for expected credit losses compared to the allowance for doubtful accounts under the previous incurred loss method. The Company increases the allowance for expected credits losses when the Company determines all or a portion of a receivable is uncollectible. The Company recognizes recoveries as a decrease to the allowance for expected credit losses. For the three-month period ended June 25, 2021, no material changes in the allowance occurred. Recently Issued Accounting Standards Not Yet Adopted In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2021-04”). ASU 2021-04 outlines how an entity should account for modifications made to equity-classified written call options, including stock options and warrants to purchase the entity’s own common stock. The guidance in the ASU requires an entity to treat a modification of an equity-classified written call options that does not cause the option to become liability-classified as an exchange of the original option for a new option. This guidance applies whether the modification is structured as an amendment to the terms and conditions of the equity-classified written call option or as termination of the original option and issuance of a new option. The guidance is effective prospectively for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, including in an interim period as of the beginning of the fiscal year that includes that interim period. The Company is currently in the process of evaluating the impact of this new guidance on the consolidated financial statements and the related disclosures.

Revenue from Contract with Cu_2

Revenue from Contract with Customers (Tables)	3 Months Ended
	Jun. 25, 2021
Revenue from Contract with Customer [Abstract]
Net Sales by Core End Market and Application	Net sales by application: Three-Month Period Ended June 25, June 26, Automotive $ 133,523 $ 76,378 Industrial 30,309 20,406 Other 24,310 18,217 Total net sales $ 188,142 $ 115,001
Net Sales by Product	Net sales by product: Three-Month Period Ended June 25, June 26, Power integrated circuits $ 66,672 $ 41,599 Magnetic sensors 120,642 73,402 Photonics 828 — Total net sales $ 188,142 $ 115,001
Net Sales by Geography	Net sales by geography: Three-Month Period Ended June 25, June 26, Americas: United States $ 26,841 $ 12,996 Other Americas 6,349 1,928 EMEA: Europe 34,751 17,846 Asia: Japan 35,453 23,620 Greater China 42,779 32,071 South Korea 21,933 13,612 Other Asia 20,036 12,928 Total net sales $ 188,142 $ 115,001

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Jun. 25, 2021
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The following tables present information about the Company’s financial assets and liabilities as of June 25, 2021 and March 26, 2021 measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values: Fair Value Measurement at June 25, 2021 Using: Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market fund deposits $ 16,334 $ — $ — $ 16,334 Restricted cash: Money market fund deposits 7,698 — — 7,698 Total assets $ 24,032 $ — $ — $ 24,032 Liabilities: Other long-term liabilities: Contingent consideration $ — $ — $ 5,100 $ 5,100 Total liabilities $ — $ — $ 5,100 $ 5,100 Fair Value Measurement at March 26, 2021 Using: Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market fund deposits $ 16,327 $ — $ — $ 16,327 Restricted cash: Money market fund deposits 6,661 — — 6,661 Total assets $ 22,988 $ — $ — $ 22,988 Liabilities: Other long-term liabilities: Contingent consideration — — 4,800 4,800 Total liabilities $ — $ — $ 4,800 $ 4,800
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table shows the change in fair value of Level 3 contingent consideration in connection with the fiscal year 2021 purchase of Voxtel, Inc. (“Voxtel”), a privately-held technology company located in Beaverton, Oregon that develops, manufactures and supplies photonic and advanced 3D imaging technologies (the “Voxtel Acquisition”), for the three-month period ended June 25, 2021: Level 3 Balance at March 26, 2021 $ 4,800 Change in fair value of contingent consideration 300 Balance at June 25, 2021 $ 5,100

Trade Accounts Receivable, net

Trade Accounts Receivable, net (Tables)	3 Months Ended
	Jun. 25, 2021
Receivables [Abstract]
Schedule of Trade Accounts Receivable, Net	Trade accounts receivable, net (including related party trade accounts receivable) consisted of the following: June 25, March 26, Trade accounts receivable $ 115,189 $ 108,546 Less: Provision for expected credit losses and allowance for doubtful accounts (773) (138) Returns and sales allowances (13,026) (15,274) Related party trade accounts receivable (23,547) (23,634) Total $ 77,843 $ 69,500
Schedule of Changes in Allowance for Doubtful Accounts and Returns and Sales Allowances	Changes in the Company’s allowance for doubtful accounts and returns and sales allowances were as follows: Description Allowance for Returns Total Balance at March 26, 2021 $ 138 $ 15,274 $ 15,412 Charged to costs and expenses or revenue 635 40,582 41,217 Write-offs, net of recoveries — (42,830) (42,830) Balance at June 25, 2021 $ 773 $ 13,026 $ 13,799 Description Allowance for Returns Total Balance at March 27, 2020 $ 288 $ 17,185 $ 17,473 Charged to costs and expenses or revenue — 28,995 28,995 Write-offs, net of recoveries — (27,255) (27,255) Balance at June 26, 2020 $ 288 $ 18,925 $ 19,213

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jun. 25, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories include material, labor and overhead and consisted of the following: June 25, March 26, Raw materials and supplies $ 9,295 $ 9,629 Work in process 44,739 50,095 Finished goods 28,322 27,774 Total $ 82,356 $ 87,498

Property, Plant and Equipment_2

Property, Plant and Equipment, net (Tables)	3 Months Ended
	Jun. 25, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant, and Equipment	Property, plant and equipment, net is stated at cost, and consisted of the following: June 25, March 26, Land $ 16,573 $ 16,602 Buildings, building improvements and leasehold improvements 57,953 56,911 Machinery and equipment 514,831 491,025 Office equipment 6,300 6,281 Construction in progress 19,779 29,201 Total 615,436 600,020 Less accumulated depreciation (418,443) (407,627) Total $ 196,993 $ 192,393
Schedule of Long-lived Assets	The geographic locations of the Company's long-lived assets, net, based on physical location of the assets, as of June 25, 2021 and March 26, 2021 are as follows: June 25, March 26, United States $ 36,726 $ 36,529 Philippines 153,282 148,374 Thailand — 1,698 Other 7,331 7,190 Total $ 197,339 $ 193,791

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Jun. 25, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amount of Goodwill	The table below summarizes the changes in the carrying amount of goodwill as follows: Total Balance at March 26, 2021 $ 20,106 Currency translation 12 Balance at June 25, 2021 $ 20,118
Schedule of Intangible Assets, Net	Intangible assets, net is as follows: June 25, 2021 Description Gross Accumulated Net Carrying Weighted- Average Lives Patents $ 33,703 $ 13,013 $ 20,690 10 years Customer relationships 6,923 6,610 313 9 years Process technology 13,100 924 12,176 12 years Indefinite-lived and legacy process technology 4,050 1,650 2,400 Trademarks 200 34 166 5 years Legacy trademarks 627 71 556 Other 32 32 — Total $ 58,635 $ 22,334 $ 36,301 March 26, 2021 Description Gross Accumulated Net Carrying Weighted- Average Lives Patents $ 32,751 $ 12,307 $ 20,444 10 years Customer relationships 6,193 5,865 328 9 years Process technology 13,100 651 12,449 12 years Indefinite-lived and legacy process technology 4,050 1,650 2,400 Trademarks 200 24 176 5 years Legacy trademarks 627 58 569 Other 32 32 — Total $ 56,953 $ 20,587 $ 36,366
Schedule of Annual Amortization Expense	As of June 25, 2021, annual amortization expense of intangible assets for the next five fiscal years is expected to be as follows: Remainder of 2022 $ 2,626 2023 3,363 2024 3,244 2025 3,042 2026 2,826 Thereafter 21,200 Total $ 36,301

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Jun. 25, 2021
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	The composition of accrued expenses and other current liabilities is as follows: June 25, March 26, Accrued management incentives $ 8,013 $ 21,538 Accrued salaries and wages 22,282 15,060 Base acquisition purchase price due 14,588 14,588 Deposits on AMTC Facility 14,162 14,531 Accrued vacation 5,969 5,739 Accrued severance 710 572 Accrued professional fees 2,293 2,029 Accrued income taxes 3,711 514 Accrued utilities 708 623 Other current liabilities 4,335 3,738 Total $ 76,771 $ 78,932

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 25, 2021
Leases [Abstract]
Schedule of Lease Costs and Other Information	Operating lease cost is recognized on a straight-line basis over the lease term. Information regarding the Company’s leases are as follows: Three-Month Period Ended June 25, Lease costs: Operating lease expense $ 1,149 Short term lease expense 55 Other information: Operating cash flows from operating leases $ 1,230 Weighted-average remaining lease term – operating leases 5.97 years Weighted-average discount rate – operating leases 4.6 %
Schedule of Lease Liability Maturity	As of June 25, 2021, expirations of lease obligations by fiscal year were as follows: Remainder of 2022 $ 3,149 2023 3,694 2024 3,296 2025 3,021 2026 2,639 Thereafter 4,496 Total undiscounted lease payments $ 20,295 Less: present value adjustment (2,601) Total operating lease liabilities $ 17,694
Schedule of Future Minimum Rental Payments	Future minimum lease payments for noncancellable operating leases as reported under the previous lease guidance as of March 26, 2021 are as follows: 2022 $ 2,887 2023 2,726 2024 2,644 2025 2,172 2026 1,773 Thereafter 3,713 Total $ 15,915

Other Long-Term Liabilities (Ta

Other Long-Term Liabilities (Tables)	3 Months Ended
	Jun. 25, 2021
Other Liabilities Disclosure [Abstract]
Schedule of Other Long-Term Liabilities	The composition of other long-term liabilities is as follows: June 25, March 26, Accrued management incentives $ 543 $ 628 Accrued retirement 10,810 10,656 Accrued contingent consideration 5,100 4,800 Provision for uncertain tax positions (net) 2,791 2,774 Other — 275 Total $ 19,244 $ 19,133

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Jun. 25, 2021
Retirement Benefits [Abstract]
Schedule of Expense Related to Defined Benefit Plan	Expense related to the non-United States (“U.S”). defined benefit plan was as follows: Three-Month Period Ended June 25, June 26, Service cost $ 383 $ 270 Interest cost 166 152 Expected return on plan assets (79) (78) Amortization of prior service cost — 2 Actuarial loss 53 34 Net periodic pension expense $ 523 $ 380
Fair Value of Entity's Plan Assets	The table below sets forth the fair value of the entity’s plan assets as of June 25, 2021 and March 26, 2021, using the same three-level hierarchy of fair value inputs described in the significant accounting policies included in the Company’s 2021 Annual Report. Fair Value at June 25, Level 1 Level 2 Level 3 Assets of non-U.S. defined benefit plan: Government securities $ 1,832 $ 1,832 $ — $ — Unit investment trust fund 1,079 — 1,079 — Loans 633 — — 633 Bonds 983 — 983 — Stocks and other investments 2,568 1,436 2 1,130 Total $ 7,095 $ 3,268 $ 2,064 $ 1,763 Fair Value at March 26, Level 1 Level 2 Level 3 Assets of non-U.S. defined benefit plan: Government securities $ 1,646 $ 1,646 $ — $ — Unit investment trust fund 1,221 — 1,221 — Loans 584 — — 584 Bonds 1,112 — 1,112 — Stocks and other investments 3,081 1,947 1 1,133 Total $ 7,644 $ 3,593 $ 2,334 $ 1,717
Schedule of Changes in Fair Value of Level 3 Plan Assets	The following table shows the change in fair value of Level 3 plan assets for the three months ended June 25, 2021: Level 3 Non-U.S. Defined Plan Assets Loans Stocks Balance at March 26, 2021 $ 584 $ 1,133 Additions during the year 159 — Redemptions during the year (107) — Revaluation of equity securities (1) — Change in foreign currency exchange rates (2) (3) Balance at June 25, 2021 $ 633 $ 1,130

Net Income per Share (Tables)

Net Income per Share (Tables)	3 Months Ended
	Jun. 25, 2021
Earnings Per Share [Abstract]
Schedule of Computation of Net (Loss) Income per Share and Unaudited Pro Forma Net Income per Share	Three-Month Period Ended June 25, June 26, Net income attributable to Allegro MicroSystems, Inc. $ 27,669 $ 4,820 Net income attributable to common stockholders 27,707 4,854 Basic weighted average shares of common stock 189,585,381 10,000,000 Dilutive effect of common stock equivalents 1,577,693 — Diluted weighted average shares of common stock 191,163,074 10,000,000 Basic net income attributable to Allegro MicroSystems, Inc. per share $ 0.15 $ 0.48 Basic net income attributable to common stockholders per share $ 0.15 $ 0.49 Diluted net income attributable to Allegro MicroSystems, Inc. per share $ 0.14 $ 0.48 Diluted net income attributable to common stockholders per share $ 0.14 $ 0.49
Schedule of Issuable Weighted Average Share Information	The following represents issuable weighted average share information for the respective periods: Three-Month Period Ended June 25, June 26, Restricted stock units 820,221 — Performance stock units 752,235 — Employee stock purchase plan 5,237 — Total 1,577,693 —

Common Stock and Stock-Based _2

Common Stock and Stock-Based Compensation (Tables)	3 Months Ended
	Jun. 25, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense	The Company recorded stock-based compensation expense in the following expense categories of its unaudited consolidated statements of operations: Three-Month Period Ended June 25, June 26, Cost of sales $ 528 $ 97 Research and development 752 21 Selling, general and administrative 3,551 327 Total stock-based compensation $ 4,831 $ 445

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Jun. 25, 2021
Income Tax Disclosure [Abstract]
Schedule of Tax (Benefit) Provision	The Company recorded the following tax (benefit) provision in its unaudited consolidated statements of operations: Three-Month Period Ended June 25, June 26, Operating taxes $ 5,118 $ 816 Discrete tax items (855) (288) Provision for income taxes $ 4,263 $ 528 Annual operating tax rate 15.9 % 15.2 % Effective tax rate 13.3 % 9.8 %

Nature of the Business and Ba_2

Nature of the Business and Basis of Presentation - Additional Information (Details)	Jun. 25, 2021locationcontinent
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of locations | location	16
Number of continents on which entity operates | continent	4

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Concentrations of Credit Risk and Significant Customers (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 25, 2021	Jun. 26, 2020	Mar. 26, 2021	Mar. 27, 2021
Concentration Risk [Line Items]
Operating lease right-of-use assets	$ 17,439		$ 0
Total operating lease liabilities	$ 17,694
Accounting Standards Update 2016-02
Concentration Risk [Line Items]
Operating lease right-of-use assets				$ 18,403
Total operating lease liabilities				$ 18,759
Revenue Benchmark | Geographic Concentration Risk | Non-US
Concentration Risk [Line Items]
Concentration risk, percentage	85.70%	88.70%
Revenue Benchmark | Geographic Concentration Risk | Greater China
Concentration Risk [Line Items]
Concentration risk, percentage	22.70%	27.90%
Revenue Benchmark | Geographic Concentration Risk | Japan
Concentration Risk [Line Items]
Concentration risk, percentage	18.80%	20.50%
Revenue Benchmark | Geographic Concentration Risk | South Korea
Concentration Risk [Line Items]
Concentration risk, percentage	11.70%	11.80%
Sanken | Trade Accounts Receivable | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	23.20%		22.70%
Sanken | Revenue Benchmark | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	18.80%	20.50%

Revenue from Contract with Cu_3

Revenue from Contract with Customers - Net Sales by Application (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 188,142	$ 115,001
Automotive
Disaggregation of Revenue [Line Items]
Total net sales	133,523	76,378
Industrial
Disaggregation of Revenue [Line Items]
Total net sales	30,309	20,406
Other
Disaggregation of Revenue [Line Items]
Total net sales	$ 24,310	$ 18,217

Revenue from Contract with Cu_4

Revenue from Contract with Customers - Net Sales by Product (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 188,142	$ 115,001
Power integrated circuits
Disaggregation of Revenue [Line Items]
Total net sales	66,672	41,599
Magnetic sensors
Disaggregation of Revenue [Line Items]
Total net sales	120,642	73,402
Photonics
Disaggregation of Revenue [Line Items]
Total net sales	$ 828	$ 0

Revenue from Contract with Cu_5

Revenue from Contract with Customers - Net Sales by Geography (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 188,142	$ 115,001
United States
Disaggregation of Revenue [Line Items]
Total net sales	26,841	12,996
Other Americas
Disaggregation of Revenue [Line Items]
Total net sales	6,349	1,928
Europe
Disaggregation of Revenue [Line Items]
Total net sales	34,751	17,846
Japan
Disaggregation of Revenue [Line Items]
Total net sales	35,453	23,620
Greater China
Disaggregation of Revenue [Line Items]
Total net sales	42,779	32,071
South Korea
Disaggregation of Revenue [Line Items]
Total net sales	21,933	13,612
Other Asia
Disaggregation of Revenue [Line Items]
Total net sales	$ 20,036	$ 12,928

Revenue from Contract with Cu_6

Revenue from Contract with Customers - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020	Mar. 26, 2021
Revenue from Contract with Customer [Abstract]
Trade accounts receivable, returns, credits issued, and price protection adjustments, current	$ 13,799		$ 15,412
Trade accounts receivable, returns, credits issued, and price protection adjustments expense (credit)	$ (1,613)	$ 1,740

Fair Value Measurements - Asset

Fair Value Measurements - Assets And Liabilities Measured At Fair Value (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jun. 25, 2021	Mar. 26, 2021
Assets:
Total assets	$ 24,032	$ 22,988
Liabilities:
Contingent consideration	5,100	4,800
Total liabilities	5,100	4,800
Level 1
Assets:
Total assets	24,032	22,988
Liabilities:
Contingent consideration	0	0
Total liabilities	0	0
Level 2
Assets:
Total assets	0	0
Liabilities:
Contingent consideration	0	0
Total liabilities	0	0
Level 3
Assets:
Total assets	0	0
Liabilities:
Contingent consideration	5,100	4,800
Total liabilities	5,100	4,800
Money market fund deposits
Assets:
Cash and cash equivalents	16,334	16,327
Restricted cash	7,698	6,661
Money market fund deposits | Level 1
Assets:
Cash and cash equivalents	16,334	16,327
Restricted cash	7,698	6,661
Money market fund deposits | Level 2
Assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Money market fund deposits | Level 3
Assets:
Cash and cash equivalents	0	0
Restricted cash	$ 0	$ 0

Fair Value Measurements - Chang

Fair Value Measurements - Change in Fair Value of Level 3 Contingent Consideration (Details) - Fair Value, Recurring - Level 3 - Contingent Consideration Liability $ in Thousands	3 Months Ended
	Jun. 25, 2021USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 4,800
Change in fair value of contingent consideration	300
Ending balance	$ 5,100

Trade Accounts Receivable, ne_2

Trade Accounts Receivable, net - Summary of Trade Accounts Receivable, net (Details) - USD ($) $ in Thousands	Jun. 25, 2021	Mar. 26, 2021	Jun. 26, 2020	Mar. 27, 2020
Receivables [Abstract]
Trade accounts receivable	$ 115,189	$ 108,546
Less:
Provision for expected credit losses and allowance for doubtful accounts	(773)	(138)	$ (288)	$ (288)
Returns and sales allowances	(13,026)	(15,274)	$ (18,925)	$ (17,185)
Related party trade accounts receivable	(23,547)	(23,634)
Trade accounts receivable, net	$ 77,843	$ 69,500

Trade Accounts Receivable, ne_3

Trade Accounts Receivable, net - Schedule of Changes in Allowance For Doubtful Accounts and Sales Returns and Sales Allowances (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
Allowance for Doubtful Accounts
Balance at the beginning of the period	$ 138	$ 288
Charged to costs and expenses or revenue	635	0
Write-offs, net of recoveries	0	0
Balance at the end of the period	773	288
Returns and Sales Allowances
Balance at the beginning of the period	15,274	17,185
Charged to costs and expenses or revenue	40,582	28,995
Write-offs, net of recoveries	(42,830)	(27,255)
Balance at the end of the period	13,026	18,925
Total
Balance at the beginning of the period	15,412	17,473
Charged to costs and expenses or revenue	41,217	28,995
Write-offs, net of recoveries	(42,830)	(27,255)
Balance at the end of the period	$ 13,799	$ 19,213

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 25, 2021	Mar. 26, 2021
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 9,295	$ 9,629
Work in process	44,739	50,095
Finished goods	28,322	27,774
Total	$ 82,356	$ 87,498

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
Inventory Disclosure [Abstract]
Recorded inventory provisions	$ 3,189	$ 1,583

Assets Held For Sale (Details)

Assets Held For Sale (Details) $ in Thousands	3 Months Ended
	Jun. 25, 2021USD ($)
Disposal Group, Held-for-sale, Not Discontinued Operations | AMTC Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Foreign currency loss on translation	$ 660

Property, Plant and Equipment_3

Property, Plant and Equipment, net - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Jun. 25, 2021	Mar. 26, 2021
Property, Plant and Equipment [Line Items]
Total	$ 615,436	$ 600,020
Less accumulated depreciation	(418,443)	(407,627)
Total	196,993	192,393
Land
Property, Plant and Equipment [Line Items]
Total	16,573	16,602
Buildings, building improvements and leasehold improvements
Property, Plant and Equipment [Line Items]
Total	57,953	56,911
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total	514,831	491,025
Office equipment
Property, Plant and Equipment [Line Items]
Total	6,300	6,281
Construction in progress
Property, Plant and Equipment [Line Items]
Total	$ 19,779	$ 29,201

Property, Plant and Equipment_4

Property, Plant and Equipment, net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 11,120	$ 10,809
Prepaid tooling costs
Property, Plant and Equipment [Line Items]
Amortization expense	$ 33	$ 17

Property, Plant and Equipment_5

Property, Plant and Equipment, net - Schedule of Long Lived Assets (Details) - USD ($) $ in Thousands	Jun. 25, 2021	Mar. 26, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 197,339	$ 193,791
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	36,726	36,529
Philippines
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	153,282	148,374
Thailand
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	0	1,698
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 7,331	$ 7,190

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Summary of Changes in Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Jun. 25, 2021USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 20,106
Currency translation	12
Ending balance	$ 20,118

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 25, 2021	Mar. 26, 2021
Finite-Lived Intangible Assets [Line Items]
Gross	$ 58,635	$ 56,953
Accumulated Amortization	22,334	20,587
Net Carrying Amount	36,301	36,366
Patents
Finite-Lived Intangible Assets [Line Items]
Gross	33,703	32,751
Accumulated Amortization	13,013	12,307
Net Carrying Amount	$ 20,690	$ 20,444
Weighted- Average Lives	10 years	10 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	$ 6,923	$ 6,193
Accumulated Amortization	6,610	5,865
Net Carrying Amount	$ 313	$ 328
Weighted- Average Lives	9 years	9 years
Process technology
Finite-Lived Intangible Assets [Line Items]
Gross	$ 13,100	$ 13,100
Accumulated Amortization	924	651
Net Carrying Amount	$ 12,176	$ 12,449
Weighted- Average Lives	12 years	12 years
Indefinite-lived and legacy process technology
Finite-Lived Intangible Assets [Line Items]
Gross	$ 4,050	$ 4,050
Accumulated Amortization	1,650	1,650
Net Carrying Amount	2,400	2,400
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross	200	200
Accumulated Amortization	34	24
Net Carrying Amount	$ 166	$ 176
Weighted- Average Lives	5 years	5 years
Legacy trademarks
Finite-Lived Intangible Assets [Line Items]
Gross	$ 627	$ 627
Accumulated Amortization	71	58
Net Carrying Amount	556	569
Other
Finite-Lived Intangible Assets [Line Items]
Gross	32	32
Accumulated Amortization	32	32
Net Carrying Amount	$ 0	$ 0

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 25, 2021	Jun. 26, 2020	Mar. 26, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization expense	$ 1,019	$ 713
Patents
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life	10 years		10 years

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 25, 2021	Mar. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 2,626
2023	3,363
2024	3,244
2025	3,042
2026	2,826
Thereafter	21,200
Net Carrying Amount	$ 36,301	$ 36,366

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 25, 2021	Mar. 26, 2021
Payables and Accruals [Abstract]
Accrued management incentives	$ 8,013	$ 21,538
Accrued salaries and wages	22,282	15,060
Base acquisition purchase price due	14,588	14,588
Deposits on AMTC Facility	14,162	14,531
Accrued vacation	5,969	5,739
Accrued severance	710	572
Accrued professional fees	2,293	2,029
Accrued income taxes	3,711	514
Accrued utilities	708	623
Other current liabilities	4,335	3,738
Total	$ 76,771	$ 78,932

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
Lessee, Lease, Description [Line Items]
Rent expense	$ 1,235	$ 1,183
Minimum
Lessee, Lease, Description [Line Items]
Operating lease agreement term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease agreement term	11 years

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs and Other Information (Details) $ in Thousands	3 Months Ended
	Jun. 25, 2021USD ($)
Lease costs:
Operating lease expense	$ 1,149
Short term lease expense	55
Other information:
Operating cash flows from operating leases	$ 1,230
Weighted-average remaining lease term – operating leases	5 years 11 months 19 days
Weighted-average discount rate – operating leases	4.60%

Leases - Schedule of Lease Liab

Leases - Schedule of Lease Liability Maturity (Details) $ in Thousands	Jun. 25, 2021USD ($)
Leases [Abstract]
Remainder of 2022	$ 3,149
2023	3,694
2024	3,296
2025	3,021
2026	2,639
Thereafter	4,496
Total undiscounted lease payments	20,295
Less: present value adjustment	(2,601)
Total operating lease liabilities	$ 17,694

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Rental Payments (Details) $ in Thousands	Mar. 26, 2021USD ($)
Leases [Abstract]
2022	$ 2,887
2023	2,726
2024	2,644
2025	2,172
2026	1,773
Thereafter	3,713
Total	$ 15,915

Debt and Other Borrowings (Deta

Debt and Other Borrowings (Details)	Sep. 30, 2020USD ($)	Jun. 25, 2021USD ($)	Mar. 26, 2021USD ($)	Nov. 26, 2019PHP (₱)	Nov. 20, 2019PHP (₱)
Term Loan Facility | Line of Credit
Line of Credit Facility [Line Items]
Outstanding balance		$ 25,000,000	$ 25,000,000
Term Loan Facility | Credit Suisse AG, Cayman Islands Branch
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 325,000,000
Deferred financing costs	9,374,000
Senior Secured Revolving Credit Facility | Mizuho Bank, Ltd
Line of Credit Facility [Line Items]
Maximum borrowing capacity	50,000,000
Interest rate at period end		4.25%
Outstanding balance		$ 0	0
Deferred financing costs	$ 300,000
Unamortized deferred financing costs		224,000
Senior Secured Revolving Credit Facility | Mizuho Bank, Ltd | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Interest rate floor	0.005
Senior Secured Revolving Credit Facility | Mizuho Bank, Ltd | Minimum | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.75%
Senior Secured Revolving Credit Facility | Mizuho Bank, Ltd | Maximum | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	4.00%
Unsecured Revolving Credit Facilities | Line-of-Credit Agreement Expiring August 31, 2021 | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		1,230,000		₱ 60,000,000
Outstanding balance		0	0
Unsecured Revolving Credit Facilities | Line-of-Credit Agreement Expiring June 30, 2021 | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		1,537,000			₱ 75,000,000
Outstanding balance		$ 0	$ 0

Other Long-Term Liabilities (De

Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Jun. 25, 2021	Mar. 26, 2021
Other Liabilities Disclosure [Abstract]
Accrued management incentives	$ 543	$ 628
Accrued retirement	10,810	10,656
Accrued contingent consideration	5,100	4,800
Provision for uncertain tax positions (net)	2,791	2,774
Other	0	275
Total	$ 19,244	$ 19,133

Retirement Plans - Schedule of

Retirement Plans - Schedule of Expense Related to Defined Benefit Plan (Details) - Pension Plan - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 383	$ 270
Interest cost	166	152
Expected return on plan assets	(79)	(78)
Amortization of prior service cost	0	2
Actuarial loss	53	34
Net periodic pension expense	$ 523	$ 380

Retirement Plans - Fair Value o

Retirement Plans - Fair Value of Entity's Plan Assets (Details) - Pension Plan - USD ($) $ in Thousands	Jun. 25, 2021	Mar. 26, 2021
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	$ 7,095	$ 7,644
Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	3,268	3,593
Level 2
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	2,064	2,334
Level 3
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,763	1,717
Government securities
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,832	1,646
Government securities | Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,832	1,646
Government securities | Level 2
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Government securities | Level 3
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Unit investment trust fund
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,079	1,221
Unit investment trust fund | Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Unit investment trust fund | Level 2
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,079	1,221
Unit investment trust fund | Level 3
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Loans
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	633	584
Loans | Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Loans | Level 2
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Loans | Level 3
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	633	584
Bonds
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	983	1,112
Bonds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Bonds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	983	1,112
Bonds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Stocks and other investments
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	2,568	3,081
Stocks and other investments | Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,436	1,947
Stocks and other investments | Level 2
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	2	1
Stocks and other investments | Level 3
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	$ 1,130	$ 1,133

Retirement Plans - Schedule o_2

Retirement Plans - Schedule of Changes in Fair Value of Level 3 Plan Assets (Details) - Pension Plan $ in Thousands	3 Months Ended
	Jun. 25, 2021USD ($)
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance	$ 7,644
Ending balance	7,095
Loans
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance	584
Ending balance	633
Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance	1,717
Ending balance	1,763
Level 3 | Loans
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance	584
Additions during the year	159
Redemptions during the year	(107)
Revaluation of equity securities	(1)
Change in foreign currency exchange rates	(2)
Ending balance	633
Level 3 | Stocks
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance	1,133
Additions during the year	0
Redemptions during the year	0
Revaluation of equity securities	0
Change in foreign currency exchange rates	(3)
Ending balance	$ 1,130

Retirement Plans - Narrative (D

Retirement Plans - Narrative (Details) £ in Thousands, $ in Thousands	3 Months Ended
	Jun. 25, 2021USD ($)	Jun. 26, 2020USD ($)	Jun. 25, 2021GBP (£)	Mar. 26, 2021USD ($)	Mar. 26, 2021GBP (£)
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 353	$ 240
Expected contributions in current fiscal year	$ 943
Other Defined Benefit Plans | Pension Promise
Defined Benefit Plan Disclosure [Line Items]
Retirement age	65 years
Other assets, net	$ 1,107		£ 703	$ 1,272	£ 928
Accrued retirement, other long-term liabilities	$ 1,107		£ 703	$ 1,272	£ 928
Defined Contribution Plan
Defined Benefit Plan Disclosure [Line Items]
Maximum employee contribution	50.00%
Employer matching contribution	100.00%
Maximum employer contribution	5.00%
Total contributions	$ 1,256	1,029
Defined Contribution Plan | 401(K) Plan
Defined Benefit Plan Disclosure [Line Items]
Maximum employee contribution	35.00%
Vesting percentage	100.00%
Defined Contribution Plan | AME Plan
Defined Benefit Plan Disclosure [Line Items]
Total contributions	$ 218	$ 179

Commitment and Contingencies (D

Commitment and Contingencies (Details) - USD ($)	Jun. 25, 2021	Mar. 26, 2021
Commitments and Contingencies Disclosure [Abstract]
Self insurance accruals	$ 1,585,000	$ 1,518,000
Indemnification accruals	0	0
Environmental accruals	$ 0	$ 0

Net Income per Share - Narrativ

Net Income per Share - Narrative (Details)	Nov. 02, 2020shares	Nov. 01, 2020	Jun. 25, 2021shares	Jun. 26, 2020shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares issued upon conversion, including shares withheld for tax withholding obligation (in shares)	166,500,000
Diluted weighted average common shares (in shares)			191,163,074	10,000,000
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net income per share (in shares)			1,988	0
Common Class A
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion rate	15.822
Shares returned for tax payments made on behalf of holders of common stock (in shares)	2,066,508
Common Class A | Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Priority dividend rate		8.00%
Annualized return on capital, triggering percent, remaining distributions split between Class A and Class L shareholders		8.00%
Common Class L
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion rate	13.010
Shares returned for tax payments made on behalf of holders of common stock (in shares)	1,766

Net Income per Share - Schedule

Net Income per Share - Schedule of Computation of Net Income per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
Earnings Per Share [Abstract]
Net income attributable to Allegro MicroSystems, Inc.	$ 27,669	$ 4,820
Net (loss) income attributable to common stockholders, basic	27,707	4,854
Net (loss) income attributable to common stockholders, diluted	$ 27,707	$ 4,854
Basic weighted average common shares (in shares)	189,585,381	10,000,000
Dilutive effect of common stock equivalents (in shares)	1,577,693	0
Diluted weighted average common shares (in shares)	191,163,074	10,000,000
Basic net income attributable to Allegro MicroSystems, Inc. per share (in dollars per share)	$ 0.15	$ 0.48
Basic net income attributable to common stockholders per share (in dollars per share)	0.15	0.49
Diluted net income attributable to Allegro MicroSystems, Inc. per share (in dollars per share)	0.14	0.48
Diluted net income attributable to common stockholders per share (in dollars per share)	$ 0.14	$ 0.49

Net Income per Share - Schedu_2

Net Income per Share - Schedule of Issuable Weighted Average Share Information (Details) - shares	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of common stock equivalents (in shares)	1,577,693	0
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of common stock equivalents (in shares)	820,221	0
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of common stock equivalents (in shares)	752,235	0
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of common stock equivalents (in shares)	5,237	0

Common Stock and Stock-Based _3

Common Stock and Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 25, 2021USD ($)$ / sharesshares
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	894,876
Grant date fair value (in dollars per share) | $ / shares	$ 24.79
Stock-based compensation expense not yet recorded | $	$ 31,320
Weighted-average remaining contractual life	1 year 9 months 10 days
Vested during period (in shares)	3,217
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense not yet recorded | $	$ 19,420
Weighted-average remaining contractual life	2 years 3 months 10 days
Vested during period (in shares)	0
Intrinsic value, vested | $	$ 30,490
Performance stock units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Inclusion percentage of target goals	100.00%
Performance stock units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Inclusion percentage of target goals	200.00%
Restricted Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average remaining contractual life	1 year 6 months 29 days
Vested during period (in shares)	54,729
Cancelled (in shares)	9,757
Unvested shares of restricted commons stock (in shares)	341,841
Weighted-average grant date fair value (in dollars per share) | $ / shares	$ 14

Common Stock and Stock-Based _4

Common Stock and Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 4,831	$ 445
Cost of sales
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	528	97
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	752	21
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 3,551	$ 327

Income Taxes - Schedule of Tax

Income Taxes - Schedule of Tax Provision (Details) $ in Thousands	3 Months Ended
	Jun. 25, 2021USD ($)	Jun. 26, 2020USD ($)
Income Tax Disclosure [Abstract]
Operating taxes	$ 5,118	$ 816
Discrete tax items	(855)	(288)
Provision for income taxes	$ 4,263	$ 528
Annual operating tax rate	0.159	0.152
Effective tax rate	13.30%	9.80%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2021	Jun. 26, 2020
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 4,263	$ 528
Effective tax rate	13.30%	9.80%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jun. 30, 2018	Jun. 25, 2021	Jun. 26, 2020	Mar. 26, 2021	May 31, 2018
Related Party Transaction [Line Items]
Total net sales		$ 188,142	$ 115,001
Trade accounts receivable from related party		23,547		$ 23,634
Amounts due to related party		4,095		2,353
Rent expense		1,235	1,183
Related Party Revenue
Related Party Transaction [Line Items]
Total net sales		35,453	23,620
Sanken
Related Party Transaction [Line Items]
Trade accounts receivable from related party		23,545		21,595
Other accounts receivable from related party		$ 110		198
Option to terminate, period of notice		6 months
Rent expense		$ 56	57
Sanken | Related Party Revenue
Related Party Transaction [Line Items]
Total net sales		35,453	23,620
PSL
Related Party Transaction [Line Items]
Amounts due to related party		4,119		1,739
Purchases from related party		13,380	11,923
PSL | IC Technology Development Agreement
Related Party Transaction [Line Items]
Fees received		0	0
Fees paid		0	0
PSL | Discrete Technology Development Agreement
Related Party Transaction [Line Items]
Amounts due to related party				614
PSL | Price Support Payment
Related Party Transaction [Line Items]
Purchases from related party		0	1,800
Sanken Electric Europe Ltd.
Related Party Transaction [Line Items]
Trade accounts receivable from related party		16		$ 1,272
Director
Related Party Transaction [Line Items]
Fees paid		$ 56	$ 90
Monthly fee payable	$ 19				$ 30
Signing fee	54
Severance payment if terminated	$ 180
Accelerated vesting, acceleration period	6 months
Director | Common Class L
Related Party Transaction [Line Items]
Shares granted (in shares)	12,000,000

Uncategorized Items - algm-2021

Label	Element	Value
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 6,661,000
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 5,385,000