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Stockholders' Equity and Noncontrolling Interests
9 Months Ended
Sep. 25, 2026
Noncontrolling Interest [Abstract]  
Stockholders' Equity and Noncontrolling Interests STOCKHOLDERS’ EQUITY AND NONCONTROLLING INTERESTS
At-the-Market Offering Program
On August 14, 2026, the Company entered into a sales agreement (the “Sales Agreement”) with UBS Securities LLC, Barclays Capital Inc., Craig-Hallum Capital Group LLC and Oppenheimer & Co. Inc., as sales agents. Under the Sales Agreement, the Company may offer and sell, from time to time at its sole discretion, shares of its common stock having an aggregate offering price of up to $400.0 million through an “at-the-market” offering program (the “ATM Program”).
During the three and nine months ended September 25, 2026, the Company issued and sold 0.4 million shares of common stock under the ATM Program at a weighted-average price of $80.13 per share. Net proceeds were $34.0 million, after deducting fees, commissions, and other offering costs of $0.6 million.
Treasury Stock
On October 20, 2022, the Board of Directors approved a share repurchase program authorizing the Company to purchase up to an aggregate of $150 million of the Company’s common stock over a three-year period. During the nine months ended September 26, 2025, the Company repurchased approximately 0.2 million shares under this program with aggregate cost of $3.4 million.
On October 23, 2025, the Board of Directors approved a renewal of the share repurchase program, authorizing the Company to repurchase up to $150.0 million of its common stock over a three-year period. The Company did not repurchase any shares under the renewed program during the nine months ended September 25, 2026.
During the nine months ended September 25, 2026, the Company repurchased 0.7 million shares for $40.3 million through a privately negotiated transaction. These shares are held as treasury stock. The Company accounts for treasury stock using the cost method. The Company did not repurchase any shares during the three months ended September 25, 2026.
Non-controlling Interests
Noncontrolling interests are recognized to reflect the portion of equity in the Company’s consolidated subsidiaries that is not attributable, directly or indirectly, to the controlling stockholder. The Company’s consolidated entities include partially owned subsidiaries that provide outsourced cleaning and recycling of precision parts for the semiconductor industry through operating facilities in South Korea and China. The ownership interests held by other parties in these subsidiaries are presented as noncontrolling interests in the accompanying Condensed Consolidated Financial Statements. Net income attributable to noncontrolling interests is allocated based on the respective ownership interests and continues to be attributed even if such allocation results in a deficit noncontrolling interests balance.