Stock-Based Employee Compensation (Tables)

9 Months Ended

Jan. 01, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Compensation Expense

The following table summarizes stock-based compensation expense by line items appearing in the Company’s Condensed Consolidated Statements of Operations:

	Three Months Ended				Nine Months Ended
(in thousands)	January 1, 2017		January 3, 2016		January 1, 2017		January 3, 2016
Cost of revenue	$	689	$	666	$	2,270	$	1,993
Research and development	4,342		4,433		11,841		11,608
Selling, general and administrative	4,875		4,363		15,491		12,309
Discontinued operations	—		—		—		(32		)
Total stock-based compensation expense	$	9,906	$	9,462	$	29,602	$	25,878

Stock Option Activity

The following is a summary of the Company's stock option activity and related weighted average exercise prices for each category:

	Nine Months Ended January 1, 2017
(shares in thousands)	Shares		Price
Beginning stock options outstanding	2,594		$	10.47
Exercised (1)	(950	)	7.32
Canceled	(88	)	14.21
Ending stock options outstanding	1,556		$	12.18
Ending stock options exercisable	1,113		$	10.40

(1) Upon exercise, the Company issues new shares of common stock.

Nonvested Restricted Stock Units Activity

The following table summarizes the Company's restricted stock unit activity and related weighted-average exercise prices for each category for the nine months ended January 1, 2017:

	Nine Months Ended January 1, 2017
(shares in thousands)	Shares		Weighted-average grant date fair value per share
Beginning RSUs outstanding	3,693		$	16.09
Granted	1,830		20.50
Released	(1,206	)	13.88
Forfeited	(395	)	17.68
Ending RSUs outstanding	3,922		$	18.66

	Nine Months Ended January 1, 2017
(shares in thousands)	Shares		Weighted-average grant date fair value per share
Beginning PSUs outstanding	204		$	9.04
Released	(78	)	7.85
Forfeited	(126	)	7.74
Ending PSUs outstanding	—		$	—

Fair Value Assumptions

The following weighted average assumptions were used to calculate the fair value of the market-based equity award using a Monte Carlo simulation model:

	June 15, 2016			June 15, 2015			June 15, 2014
Estimated fair value	$	28.01		$	33.08		$	21.00
Expected volatility	46.90		%	41.22		%	34.60		%
Expected term (in years)	1.80			1.80			1.80
Risk-free interest rate	0.70		%	0.65		%	0.38		%
Dividend yield	—		%	—		%	—		%

Employee Stock Purchase Plan Activity

Activity under the Company's ESPP for the nine months ended January 1, 2017 is summarized in the following table:

(in thousands, except per share amounts)
Number of shares issued	403
Average issuance price	$	17.78
Number of shares available at January 1, 2017	3,369