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Stock-Based Compensation (Tables)
 9 Months Ended
Mar. 28, 2020
Share-based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Expensed and Capitalized, Amount [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 nine months ended March 28, 2020 and March 30, 2019, respectively:

 
Three Months Ended
 
Three Months Ended
 
March 28, 2020
 
March 30, 2019
 
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
$
10

 
$
2,363

 
$
726

 
$
3,099

 
$
8

 
$
1,951

 
$
654

 
$
2,613

Research and development
4

 
9,719

 
1,628

 
11,351

 
5

 
9,399

 
1,658

 
11,062

Selling, general and administrative
72

 
8,037

 
844

 
8,953

 
64

 
8,184

 
897

 
9,145

Pre-tax stock-based compensation expense
$
86

 
$
20,119

 
$
3,198

 
$
23,403

 
$
77

 
$
19,534

 
$
3,209

 
$
22,820

Less: income tax effect
 
 
 
 
 
 
1,969

 
 
 
 
 
 
 
1,946

Net stock-based compensation expense
 
 
 
 
 
$
21,434

 
 
 
 
 
 
 
$
20,874



Nine Months Ended
 
Nine Months Ended

March 28, 2020

March 30, 2019

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
$
23


$
6,912


$
2,094


$
9,029


$
28


$
5,597


$
1,656


$
7,281

Research and development
12


29,122


4,537


33,671


27


26,783


3,948


30,758

Selling, general and administrative
194


26,744


2,503


29,441


178


24,600


2,156


26,934

Pre-tax stock-based compensation expense
$
229


$
62,778


$
9,134


$
72,141


$
233


$
56,980


$
7,760


$
64,973

Less: income tax effect






7,050








6,214

Net stock-based compensation expense






$
65,091








$
58,759
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 March 28, 2020 and related activity for the nine months ended March 28, 2020:
 
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
(574,949
)
 
27.42

 
 
 
 
Options Cancelled
(16,575
)
 
27.30

 
 
 
 
Balance at March 28, 2020
185,889

 
$
28.21

 
1.0
 
$
3,596,648

Exercisable, March 28, 2020
185,889

 
$
28.21

 
1.0
 
$
3,596,648

Vested and expected to vest, March 28, 2020
185,889

 
$
28.21

 
1.0
 
$
3,596,648


(1)
Aggregate intrinsic value represents the difference between the exercise price and the closing price per share of the Company’s common stock on March 27, 2020, 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 March 28, 2020.
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 March 28, 2020 and related activity during the nine months ended March 28, 2020:
 
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
1,780,422

 
 
 
 
Restricted stock units and other awards released
(1,337,151
)
 
 
 
 
Restricted stock units and other awards cancelled
(386,970
)
 
 
 
 
Balance at March 28, 2020
4,974,607

 
2.7
 
$
236,592,309

Outstanding and expected to vest, March 28, 2020
4,176,812

 
2.6
 
$
198,649,169

(1)
Aggregate intrinsic value for RSUs and other awards represents the closing price per share of the Company’s common stock on March 27, 2020, the last business day preceding the fiscal quarter-end, multiplied by the number of RSUs outstanding or expected to vest as of March 28, 2020.

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 March 28, 2020 and their activity during the nine months ended March 28, 2020:
 
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
(150,970
)
 
 
 
 
Balance at March 28, 2020
973,572

 
2.6
 
$
46,303,084

Outstanding and expected to vest, March 28, 2020
338,860

 
2.5
 
$
16,116.163

(1)
Aggregate intrinsic value for MSUs represents the closing price per share of the Company’s common stock on March 27, 2020, the last business day preceding the fiscal quarter-end, multiplied by the number of MSUs outstanding or expected to vest as of March 28, 2020.

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
 
Nine Months Ended
 
March 28, 2020
 
March 30, 2019
 
March 28, 2020
 
March 30, 2019
Expected holding period (in years)
0.5 years
 
0.5 years
 
0.5 years
 
0.5 years
Risk-free interest rate
1.6% - 2.3%
 
2.4% - 2.6%
 
1.6% - 2.7%
 
1.6% - 2.6%
Expected stock price volatility
28.4% - 29.5%
 
27.5% - 28.9%
 
28.4% - 31.3%
 
19.6% - 32.7%
Dividend yield
3.3% - 3.4%
 
2.8% - 3.1%
 
3.1% - 3.4%
 
2.8% - 3.1%