CIRRUS LOGIC Business Summary

Cirrus Logic, Inc. is a leading fabless semiconductor company that generates revenue through the design and sale of high-precision analog and mixed-signal integrated circuits (ICs) for the consumer electronics, automotive, and industrial markets. The company operates through two primary business segments: Audio, which provides smart codecs and amplifiers for mobile devices, and High-Performance Mixed-Signal (HPMS), which focuses on haptics, sensing, and power-related technologies. As of February 2026, the company maintains a dominant position in the premium smartphone market, deriving approximately 94% of its revenue from its largest customer, Apple, while aggressively diversifying into the AI-enabled PC and automotive haptics sectors. Its primary direct competitors include Analog Devices, Texas Instruments, NXP Semiconductors, and STMicroelectronics, with Cirrus Logic distinguishing itself through its specialized focus on low-power, high-fidelity audio and complex mixed-signal integration for mobile platforms. Originally founded in 1984 by Suhas Patil, Kamran Elahian, and Steven Czapski, the company is currently led by President and CEO John Forsyth, who assumed the role in 2021 after serving as Chief Strategy Officer and joining the firm via the 2014 acquisition of Wolfson Microelectronics. The executive team includes CFO Jeff Woolard, who joined in 2025 following senior finance roles at Intel and Solidigm, and Jeff Baumgartner, who oversees technical innovation as EVP of Research and Development. The company’s Board of Directors is chaired by David J. Tupman, a former Vice President of Hardware Engineering at Apple, and includes notable industry veterans such as Raghib Hussain (Marvell Technology) and Alex Davern (formerly of National Instruments). Cirrus Logic remains heavily backed by institutional investors, with Vanguard Group, BlackRock, and State Street collectively holding a significant majority of the company's public float.