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Stock-Based Employee Compensation (Tables)
12 Months Ended
Apr. 02, 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 Consolidated Statement of Operations:
 
Fiscal Year Ended
(in thousands)
April 2,
2017
 
April 3,
2016
 
March 29,
2015
Cost of revenue
$
2,929

 
$
2,707

 
$
1,936

Research and development
16,068

 
15,268

 
9,813

Selling, general and administrative
20,872

 
16,182

 
10,704

Discontinued operations

 
(32
)
 
(194
)
Total stock-based compensation expense
$
39,869

 
$
34,125

 
$
22,259

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
 
April 2,
2017
 
April 3,
2016
 
March 29,
2015
Stock option plans:
 
 
 
 
 

Expected term (in years)
4.00

 
4.00

 
4.00

Risk-free interest rate
1.35
%
 
1.20
%
 
1.25
%
Volatility
40.5
%
 
42.6
%
 
38.7
%
Dividend yield
%
 
%
 
%
Weighted-average grant-date fair value
$
8.39

 
$
7.55

 
$
3.84

ESPP:
 

 
 

 
 

Expected term (in years)
0.25

 
0.25

 
0.25

Risk-free interest rate
0.32
%
 
0.06
%
 
0.04
%
Volatility
36.9
%
 
42.1
%
 
40.5
%
Dividend yield
%
 
%
 
%
Weighted-average grant-date fair value
$
4.87

 
$
5.05

 
$
3.53

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 2017
(shares in thousands)
Shares
 
  Weighted-Average
Exercise Price
Beginning stock options outstanding
2,594

 
$
10.47

Granted
11

 
25.16

Exercised (1)
(1,143
)
 
7.26

Canceled
(88
)
 
14.22

Ending stock options outstanding
1,374

 
$
13.01

Ending stock options exercisable
1,001

 
$
11.34

(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 as of April 2, 2017
 
 
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
5.31 - 5.77
 
148
 
1.61
 
$5.66
 
148
 
$5.66
5.89 - 7.24
 
56
 
1.34
 
6.50
 
56
 
6.50
7.67 - 7.67
 
150
 
3.12
 
7.67
 
139
 
7.67
7.92 - 11.13
 
120
 
1.95
 
9.25
 
108
 
9.03
11.79 - 11.79
 
350
 
3.88
 
11.79
 
277
 
11.79
12.16 - 12.16
 
186
 
4.12
 
12.16
 
119
 
12.16
18.55 - 20.56
 
18
 
5.02
 
19.47
 
9
 
19.46
21.95 - 21.95
 
327
 
5.12
 
21.95
 
143
 
21.95
25.16 - 25.16
 
11
 
6.79
 
25.16
 
 
27.36 - 27.36
 
8
 
5.70
 
27.36
 
2
 
27.36
 
 
1,374
 
3.66
 
$13.01
 
1,001
 
$11.34
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 2017
(shares in thousands)
Shares
 
Weighted-
 Average
 Grant Date
 Fair Value
 Per Share
Beginning RSUs outstanding
3,693

 
$
16.09

Granted
1,929

 
20.75

Released
(1,302
)
 
14.13

Forfeited
(477
)
 
17.80

Ending RSUs outstanding
3,843

 
$
18.88

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 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

 
$

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, 2016
June 15, 2015
June 15, 2014
Estimated fair value
$
28.01

$
33.08

$
21.00

Expected volatility
46.9
%
41.2
%
34.6
%
Expected term (in years)
1.80

1.80

1.80

Risk-free interest rate
0.70
%
0.65
%
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 2017
 
Fiscal 2016
 
Fiscal 2015
Number of shares issued
508

 
606

 
641

Average issuance price
$
18.24

 
$
17.05

 
$
12.89

Number of shares available at year-end
3,264

 
3,772

 
4,378