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Stock-Based Employee Compensation (Tables)

12 Months Ended

Mar. 29, 2015

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

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



	Fiscal Year Ended
(in thousands)	March 29, 2015			March 30, 2014		March 31, 2013
Cost of revenue	$	1,936		$	1,189	$	1,113
Research and development	9,813			5,601		6,692
Selling, general and administrative	10,704			5,887		5,250
Discontinued operations	(194		)	675		217
Total stock-based compensation expense	$	22,259		$	13,352	$	13,272

Valuation Assumptions

These variables include, but are not limited to, the Company’s expected stock price volatility over the term of the awards, as well as the expected term of the awards.



	Fiscal Year Ended
	March 29, 2015			March 30, 2014			March 31, 2013
Stock option plans:
Expected term (in years)	4.00			4.60			4.64
Risk-free interest rate	1.25		%	0.95		%	0.73		%
Volatility	38.7		%	40.1		%	45.0		%
Dividend yield	—		%	—		%	—		%
Weighted-average grant-date fair value	$	3.84		$	2.99		$	2.18
ESPP:
Expected term (in years)	0.25			0.25			0.25
Risk-free interest rate	0.04		%	0.06		%	0.08		%
Volatility	40.5		%	35.0		%	35.0		%
Dividend yield	—		%	—		%	—		%
Weighted-average grant-date fair value	$	3.53		$	1.89		$	1.42

Stock Option activities

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



	Fiscal 2015
(shares in thousands)	Shares		Price
Beginning stock options outstanding	5,602		$	7.21
Granted	411		12.10
Exercised (1)	(1,843	)	6.96
Canceled	(490	)	8.48
Ending stock options outstanding	3,680		$	7.71
Ending stock options exercisable	2,369		$	6.92


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

Summary of information about stock options outstanding

The following is a summary of information about stock options outstanding at March 29, 2015:



	Options Outstanding			Options Exercisable
Range of Exercise Prices	Number Outstanding (in thousands)	Weighted-Average Remaining Contractual Life (in years)	Weighted-Average Exercise Price	Number Exercisable (in thousands)	Weighted-Average Exercise Price
4.95-5.33	393,066	2.79	$5.22	310,388	$5.20
5.40-5.75	409,984	2.62	5.72	384,604	5.73
5.77-5.77	619,416	4.10	5.77	372,730	5.77
5.79-6.79	390,446	2.21	6.10	366,028	6.09
6.80-7.24	89,263	3.16	6.97	73,309	6.97
7.67-7.67	423,688	5.13	7.67	164,526	7.67
7.81-7.92	18,687	2.99	7.85	17,382	7.84
8.49-8.49	567,005	3.12	8.49	526,265	8.49
9.39-11.79	403,000	5.87	11.69	117,583	11.66
12.16-20.56	365,090	5.54	12.27	36,225	12.51
	3,679,645	3.87	$7.71	2,369,040	$6.92

Schedule of 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:



	Fiscal 2015
(shares in thousands)	Shares		Weighted- Average Grant Date Fair Value Per Share
Beginning RSUs outstanding	2,924		$	7.43
Granted	2,001		13.20
Released	(988	)	7.43
Forfeited	(480	)	8.80
Ending RSUs outstanding	3,457		$	10.58

Schedule of Nonvested Performance-based Units Activity

The following table summarizes the Company’s performance stock unit activity and related weighted-average exercise prices for each category:



	Fiscal 2015
(shares in thousands)	Shares		Weighted- Average Grant Date Fair Value Per Share
Beginning PSUs outstanding	804		$	7.79
Granted	105		9.86
Released	(238	)	8.14
Forfeited	(154	)	7.80
Ending PSUs outstanding	517		$	8.06

Market-based Stock Units Valuation 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, 2014
Estimated fair value	$	21.00
Expected volatility	34.6		%
Expected term (in years)	1.80
Risk-free interest rate	0.38		%
Dividend yield	—		%

Summary of ESPP Activity

Activity under the Company’s ESPP is summarized in the following table:



(in thousands, except per share amounts)	Fiscal 2015		Fiscal 2014		Fiscal 2013
Number of shares issued	641		1,206		1,679
Average issuance price	$	12.89	$	7.23	$	5.13
Number of shares available at year-end	4,378		5,019		1,226

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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