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Segment Information
 6 Months Ended
Aug. 01, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company’s Chief Executive Officer functions as the chief operating decision maker ("CODM"). The CODM makes operating decisions and assesses performance based on the Company's major product lines, which represent its operating segments. The Company has three operating segments—Signal Integrity, Wireless and Sensing, and Protection—that have similar economic characteristics and have been aggregated into one reportable segment identified as the "Semiconductor Products Group."
The Company’s assets are commingled among the three operating segments and the CODM does not use asset information in making operating decisions or assessing performance. Therefore, the Company has not included asset information by segment in the segment disclosures below.
Net sales by segment were as follows:
Three Months EndedSix Months Ended
(in thousands)August 1, 2021July 26, 2020August 1, 2021July 26, 2020
Semiconductor Products Group$185,004 $143,660 $355,376 $276,362 
Total$185,004 $143,660 $355,376 $276,362 
The following table presents a reconciliation of operating income by segment to consolidated income before taxes and equity in net gains (losses) of equity method investments. Historical amounts have been adjusted to conform to the current presentation:
Three Months EndedSix Months Ended
(in thousands)August 1, 2021July 26, 2020August 1, 2021July 26, 2020
Semiconductor Products Group$50,152 $34,818 $91,621 $62,916 
   Operating income by segment50,152 34,818 91,621 62,916 
Items to reconcile segment operating income to consolidated income before taxes and equity in net gains (losses) of equity method investments:
Share-based compensation11,517 13,186 23,356 22,565 
Intangible amortization1,298 2,020 2,596 4,860 
Investment impairments and credit loss reserves468 1,485 714 5,115 
Changes in the fair value of contingent earn-out obligations— — — (33)
Restructuring and other reserves16 502 16 502 
Litigation cost, net of recoveries560 105 1,100 251 
Transaction and integration related101 249 (76)247 
Interest expense1,185 1,252 2,384 2,811 
Non-operating (income) expense, net(213)176 (307)(247)
Income before taxes and equity in net gains (losses) of equity method investments$35,220 $15,843 $61,838 $26,845 
Information by Product Line
The Company operates exclusively in the semiconductor industry and primarily within the analog and mixed-signal sector.
The table below provides net sales activity by product line on a comparative basis:
Three Months EndedSix Months Ended
(in thousands, except percentages)August 1, 2021July 26, 2020August 1, 2021July 26, 2020
Signal Integrity$73,087 39 %$71,645 50 %$139,782 39 %$131,574 48 %
Wireless and Sensing62,593 34 %38,830 27 %121,100 34 %71,788 26 %
Protection49,324 27 %33,185 23 %94,494 27 %73,000 26 %
Total net sales$185,004 100 %$143,660 100 %$355,376 100 %$276,362 100 %
Information by Sales Channel
(in thousands, except percentages)Three Months EndedSix Months Ended
August 1, 2021July 26, 2020August 1, 2021July 26, 2020
Distributor$160,754 87 %$116,545 81 %$307,154 86 %$220,493 80 %
Direct24,250 13 %27,115 19 %48,222 14 %55,869 20 %
Total net sales$185,004 100 %$143,660 100 %$355,376 100 %$276,362 100 %
Generally, the Company does not have long-term contracts with its distributors and most distributor agreements can be terminated by either party with short notice. For the second quarter of fiscal year 2022, the Company's largest distributors were based in Asia.
Geographic Information
Net sales activity by geographic region was as follows:
 Three Months EndedSix Months Ended
(percentage of total net sales)August 1, 2021July 26, 2020August 1, 2021July 26, 2020
Asia-Pacific81 %80 %80 %80 %
North America11 %12 %12 %12 %
Europe8 %8 %8 %8 %
100 %100 %100 %100 %
The Company attributes sales to a country based on the ship-to address. The table below summarizes sales activity to countries that represented greater than 10% of total net sales for at least one of the periods presented:
 Three Months EndedSix Months Ended
(percentage of total net sales)August 1, 2021July 26, 2020August 1, 2021July 26, 2020
China (including Hong Kong)63 %63 %62 %60 %
United States9 %9 %10 %9 %
Although a large percentage of the Company's products is shipped into the Asia-Pacific region, a significant number of the products produced by these customers and incorporating the Company's semiconductor products are then sold outside this region.