Stock-Based Compensation (Tables)

6 Months Ended

Dec. 28, 2019

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

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

The following tables show total stock-based compensation expense by type of award, and the resulting tax effect, included in the Condensed Consolidated Statements of Income for the three and six months ended December 28, 2019 and December 29, 2018, respectively:

	Three Months Ended								Three Months Ended
	December 28, 2019								December 29, 2018
	Stock Options		Restricted Stock Units		Employee Stock Purchase Plan		Total		Stock Options		Restricted Stock Units		Employee Stock Purchase Plan		Total
	(in thousands)
Cost of goods sold	$	5	$	2,269	$	699	$	2,973	$	9	$	1,884	$	495	$	2,388
Research and development	4		9,918		1,514		11,436		11		8,693		1,135		9,839
Selling, general and administrative	55		8,753		849		9,657		58		8,773		598		9,429
Pre-tax stock-based compensation expense	$	64	$	20,940	$	3,062	$	24,066	$	78	$	19,350	$	2,228	$	21,656
Less: income tax effect							2,193								2,304
Net stock-based compensation expense							$	21,873							$	19,352

	Six Months Ended								Six Months Ended
	December 28, 2019								December 29, 2018
	Stock Options		Restricted Stock Units		Employee Stock Purchase Plan		Total		Stock Options		Restricted Stock Units		Employee Stock Purchase Plan		Total
	(in thousands)
Cost of goods sold	$	14	$	4,549	$	1,368	$	5,931	$	19	$	3,646	$	1,002	$	4,667
Research and development	8		19,403		2,909		22,320		22		17,384		2,290		19,696
Selling, general and administrative	122		18,706		1,659		20,487		114		16,417		1,259		17,790
Pre-tax stock-based compensation expense	$	144	$	42,658	$	5,936	$	48,738	$	155	$	37,447	$	4,551	$	42,153
Less: income tax effect							5,081								4,268
Net stock-based compensation expense							$	43,657							$	37,885

Share-based Compensation Arrangements by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]

The following table summarizes outstanding, exercisable and vested and expected to vest stock options as of December 28, 2019 and related activity for the six months ended December 28, 2019:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value(1)
Balance at June 29, 2019	777,413		$	28.30
Options Granted	—		—
Options Exercised	(302,708	)	27.82
Options Cancelled	(16,575	)	27.30
Balance at December 28, 2019	458,130		$	28.49	1.0	$	15,139,460
Exercisable, December 28, 2019	458,130		$	28.49	1.0	$	15,139,460
Vested and expected to vest, December 28, 2019	458,130		$	28.49	1.0	$	15,139,460

(1) Aggregate intrinsic value represents the difference between the exercise price and the closing price per share of the Company’s common stock on December 27, 2019, the last business day preceding the fiscal quarter-end, multiplied by the number of options outstanding, exercisable or vested and expected to vest as of December 28, 2019.

Share-based Compensation Arrangements by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest [Table Text Block]

The following table summarizes the outstanding and expected to vest RSUs and other awards as of December 28, 2019 and related activity during the six months ended December 28, 2019:

	Number of Shares		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value(1)
Balance at June 29, 2019	4,918,306
Restricted stock units and other awards granted	1,550,765
Restricted stock units and other awards released	(795,156	)
Restricted stock units and other awards cancelled	(269,743	)
Balance at December 28, 2019	5,404,172		2.8	$	332,572,745
Outstanding and expected to vest, December 28, 2019	4,513,314		2.8	$	277,749,319

(1) Aggregate intrinsic value for RSUs and other awards represents the closing price per share of the Company’s common stock on December 27, 2019, the last business day preceding the fiscal quarter-end, multiplied by the number of RSUs outstanding or expected to vest as of December 28, 2019.

Share-based Compensation Arrangements by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest [Table Text Block]

The following table summarizes the number of MSUs outstanding and expected to vest as of December 28, 2019 and their activity during the six months ended December 28, 2019:

	Number of Shares		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value(1)
Balance at June 29, 2019	1,048,532
Market stock units granted	259,984
Market stock units released	(183,974	)
Market stock units cancelled	(140,290	)
Balance at December 28, 2019	984,252		2.8	$	60,570,868
Outstanding and expected to vest, December 28, 2019	350,417		2.7	$	21,564,655

(1) Aggregate intrinsic value for MSUs represents the closing price per share of the Company’s common stock on December 27, 2019, the last business day preceding the fiscal quarter-end, multiplied by the number of MSUs outstanding or expected to vest as of December 28, 2019.

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]

The fair value of 2008 ESPP rights granted to employees has been estimated at the date of grant using the Black-Scholes option valuation model using the following assumptions for the offering periods outstanding:

	Three Months Ended		Six Months Ended
	December 28, 2019	December 29, 2018	December 28, 2019	December 29, 2018
Expected holding period (in years)	0.5 years	0.5 years	0.5 years	0.5 years
Risk-free interest rate	1.6% - 2.7%	1.6% - 2.6%	1.6% - 2.7%	1.6% - 2.6%
Expected stock price volatility	28.4% - 31.3%	19.6% - 32.7%	28.4% - 31.3%	19.6% - 32.7%
Dividend yield	3.1% - 3.4%	2.1% - 3.1%	3.1% - 3.4%	2.1% - 3.1%