STOCK PLANS AND STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Apr. 02, 2022

Share-based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Performance Shares, Activity [Table Text Block]

The following table summarizes the changes in unvested PSUs for Fiscal Year 2022:

	Number of Shares	Weighted Average Grant Date Fair Value
	(in thousands)
Unvested at April 3, 2021	983	$	27.88
Granted	453	$	53.65
Vested	(288)	$	9.53
Forfeited	(268)	$	40.63
Non-vested at April 2, 2022	880	$	43.25

Stock-Based Compensation Expense Included in Statements of Operations

The following table summarizes the amount of stock-based compensation expense included in the consolidated statements of operations:

	Fiscal Year Ended
(in thousands)	April 2, 2022		April 3, 2021		March 28, 2020
Cost of revenues	$	5,092	$	2,939	$	3,992
Research, development and engineering	9,478		13,785		16,785
Selling, general, and administrative	33,590		25,926		36,318
Operating expenses	43,068		39,711		53,103
Total stock-based compensation expense	48,160		42,650		57,095
Income tax benefit	(7,587)		(10,321)		(7,369)
Total stock-based compensation expense, net of tax	$	40,573	$	32,329	$	49,726

Summary of Restricted Stock Activity

The following table summarizes the changes in unvested restricted stock for Fiscal Year 2022:

	Number of Shares	Weighted Average Grant Date Fair Value
	(in thousands)
Unvested at April 3, 2021	2,059	$	24.91
Granted	1,834	$	30.39
Vested	(977)	$	29.72
Forfeited	(366)	$	25.10
Non-vested at April 2, 2022	2,550	$	26.98

Valuation Assumptions

The Company estimates the fair value of ESPP shares using a Black-Scholes option valuation model.  At the date of grant, the Company estimates the fair value of purchase rights granted under the ESPP using the following weighted average assumptions:

	Fiscal Year Ended
	April 2, 2022			April 3, 2021			March 28, 2020
Expected volatility	63.4		%	94.8		%	67.0		%
Risk-free interest rate	0.4		%	0.1		%	1.7		%
Expected dividends	—		%	—		%	3.1		%
Expected life (in years)	0.5			0.5			0.5
Weighted-average grant date fair value	$	9.85		$	12.60		$	6.64